2923 Melrose AVE NW, Roanoke, VA 24017
$211,500
Property Type:
MultiFamily
Lot Size (sq. ft.):
7,405
Status:
Active
Current Price:
$211,500
List Date:
9/26/2025
Last Modified:
11/12/2025
Description
This inviting bungalow duplex offers excellent rental potential with a spacious 2BR/1BA and a cozy 1BR/1BA. Perfect for an investor or owner-occupant, the property provided steady income and long-term value. Located a short walk from the new Melrose Plaza, featuring the Market on Melrose grocery store, Melrose library, Post Office and other neighborhood shops. Tenants will love the convenience and accessibility. With strong demand in this growing neighborhood, this duplex is a smart addition to any portfolio. Don't miss this chance to own a money-making property in this growing neighborhood with improving rent potential.
More Information MLS# 921341
General Property Description
Lot Dimensions: -
Multi-Family Type: Duplex
Construction Status: Completed
Total Acreage: 0.17
Present Use: Converted
# Furnished: 0
# Unfurnished: 2
# Leased Units: 2
Gross Bldg SQFT: 1952
Basement Y/N: Yes
Water Class: N/A
Parking Description: Private (1 - 9)
# Vehicle Spaces: 2
Gross Income: 24900
Year Built: 1925
Number of Units: 2
Operating Expense: 3817
Net Operating Income: 21083
Location, Tax & Legal
Major Area: 01 - City of Roanoke
Phase: 0
Subdivision Map: Forest Park
Lot: 3
Block: 1
Tax ID: 2431508
Annual Taxes: 1577
Section: 0
Zoning Code: RM1
POA Y/N: No
Area: 0140 - City of Roanoke - NW
Street Number: 2923
Street Name: Melrose
Street Suffix: AVE
Street Direction Sfx: NW
State/Province: VA
Zip Code: 24017
Subdivision: Forest Park
Municipality: City of Roanoke
Elementary School: Westside
Middle School: Lucy Addison
High School: William Fleming
Remarks & Misc
Directions: From I-581, take Exit 3W towards Hershberger Rd/VA-101 West. Merge onto Hershberger Rd, Turn Left onto Peters Creek Rd. After about 1 mile, turn left onto Melrose Ave NW (US11-US460E) to home on left
Limited Service
Not Limited Service: 1
Construction
Brick: 1
Basement
Full: 1
Views
City: 1
Heating
Heat Pump Electric: 1
Miscellaneous Info
Public Transport: Yes
Cooling
Central Air: 1
Fireplace
Masonry: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Water Heater Type
Tank: 1
Water Heater Energy
Electric: 1
Owner Expenses
Management Fee: 1
Water: 1
Internet Access
Cable: 1
Cur'nt Internet Prov: COX/GloFiber
Tenant Expenses
All Utilities: 1
Expenses
Tax Exp: 1577
Electric Exp: 1278
Water Exp: 962
Contract Information
Current Price: $211,500
List Price: $211,500
List Date: 2025-09-26
Status: Active
Property Features
Limited Service: Not Limited Service
Construction: Brick
Basement: Full
Heating: Heat Pump Electric
Cooling: Central Air
Fireplace: Masonry
Water Description: Public
Sewer Description: Public Sewer
Water Heater Type: Tank
Water Heater Energy: Electric
Owner Expenses: Management Fee; Water
Internet Access: Cable
Tenant Expenses: All Utilities
Listing Office:
LICHTENSTEIN ROWAN, REALTORS®
Last Updated: November - 12 - 2025
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