$224,950

518 Elm Ave Roanoke, VA 24016

$2,671
Closing credit¹
3,062 sqft
0.2 acres
$73 / sqft
Multi-Family

Property details

About 518 Elm Ave

Great Investment opportunity with tons of potential. Duplex located in Se Roanoke featuring 2 units, each with 2 bedrooms and 1 bath. Convenient located close to downtown Roanoke. Recent updates include new metal roof. Both units are currently, upstairs unit rented for $800 and downstairs unit rented for $900 and could rent for more. If you're looking to start investing or wanting to add an income producing unit to your growing portfolio. Look no further. Schedule a tour today.

Highlights

Home typeDuplex
HeatingForced Air
StatusActive
CoolingWall/Window Unit(s)
Size3,062 sqft
BasementYes
Lot size0.16 Acres
Year builtNew Const., 1921
ParkingStreet
MLS #914811

Summary

  • Basement: Yes
  • Parking: Street
  • Heating: Forced Air
  • Cooling: Wall/Window Unit(s)
  • List Price: $224,950
  • Price/SqFt: $73
  • Directions: FRANKLIN RD, TO DOWNTOWN; LEFT ON ELM AVE
  • Year Built: 1921
  • Living Area: 3,062 SqFt
  • Lot Size: 0.16 Acres
  • MLS Number: 914811
  • Office Name: PALMER REALTY GROUP LLC

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Last updated on: 5/3/2025, 11:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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view of front facade featuring a fenced front yard, covered porch, and metal roof

$224,950

518 Elm Ave

$2,671

closing credit¹

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0.5% sale price²

Price information

Property sales

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Tax history

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Nearby schools

6

Highland Park Elementary School

Public District PK-5

0.3 mi

1212 5th St SW

2

Hurt Park Elementary School

Public District PK-5

1.0 mi

1525 Salem Ave SW

5

Wasena Elementary School

Public District PK-5

1.1 mi

1125 Sherwood Ave SW

School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.

All data from GreatSchools

Neighborhood

The neighbors living near this home have an average income of $23,696. The most common annual income of people living in Roanoke, VA is less than $<35k. The majority of families are single, no kids. Residents of this area typically have high school diploma education.

How much money do the neighbors make?

61%
<35k
28%
35k-100k
9%
100k-200k
2%
200k+

What level of education do the neighbors have?

High School Diploma
Post Secondary Degree
Masters Degree
Doctorate

What types of families live nearby?

71%
Single, No Kids
13%
Single, with Kids
9%
Married, No Kids
7%
Married, with Kids

Are the neighbors home owners or renters?

Home Owners
Renters

How old are people in this area?

13%
<11 yrs old
5%
12-17 yrs old
34%
18-34 yrs old
43%
35-64 yrs old
5%
65+ yrs old

What do the neighbors do for fun?

  • SoccerSoccer
  • Continuing Education CoursesContinuing Education Courses
  • Pro BoxingPro Boxing

Where do the neighbors shop?

  • Forever 21Forever 21
  • Express/Express For MenExpress/Express For Men
  • BurlingtonBurlington

Where do the neighbors go to eat?

  • Dominos PizzaDominos Pizza
  • QdobaQdoba
  • PopeyesPopeyes

What do the neighbors drive?

  • MazdaMazda
  • VolkswagenVolkswagen
  • DodgeDodge

What do the neighbors listen to?

  • Rhythmic Contemporary HitsRhythmic Contemporary Hits
  • Urban ContemporaryUrban Contemporary
  • JazzJazz
All data provided by Home Junction and Claritas

Similar homes for sale

This home is located at 518 Elm Ave in Roanoke, VA and zip code 24016 in the Old Southwest neighborhood. This 3,062 square foot home, which was built in 1921, sits on a 0.16 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since March 4, 2025 and is currently priced at $224,950.

In April 2025 more than 48 listings in Roanoke, VA were sold above the asking price. During the same period more than 51 listings were sold at asking price, while more than 66 were sold below. The number of homes for sale in Roanoke, VA increased by 34.6% between March and April 2025. The median list price of listings available in April 2025 was $283,135, while the average time on the real estate market was 37 days.

From Rocket Homes Real Estate and based on county public records data.

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