Roanoke city’s decision tension is a reported 6.93% gross yield before costs against modest recent Zillow value movement and a softer visible listing setting. It merits investigation by an operator able to verify unit-level expenses and flood exposure; buyers relying on appreciation or quick resale should be cautious. In Zillow’s 2026-06 county observation, the $226,226 median home value rose 0.83% year over year, while median asking market rent was $1,307 monthly. FHFA’s 2025 repeat-transaction HPI rose 4.71%; it confirms positive direction but is not a home value and cannot be averaged with Zillow’s differently dated method.
The yield rests on measured asking rent, not HUD’s two-bedroom Fair Market Rent: FMR is a payment standard and is 4.2% below market rent by calculation, not a substitute rental estimate. The effective property-tax rate is 0.99%, a recurring carrying cost that requires parcel confirmation. Modeled annual climate loss is 0.10% of building value and inland flood is the dominant hazard; this is a modeled ratio, not a site-specific insurance or flood determination.
Realtor.com’s MLS listing-market evidence shows 281 active listings, 22.49% more year over year, a median 61 days on market, and 21.74% with price reductions. This is visible asking supply, marketing time, and seller concessions—not closed-sale pricing or proof of buyer demand. Net migration was 216 tax-return households, but average income of inbound movers was $21,747 below outbound movers, complicating a simple population-demand read. QCEW annual covered employment at county workplaces rose 0.98%; it is neither resident employment nor unemployment. Education and health services is the largest disclosed private supersector, not the full economy. Investor-associated purchases were 191 of 1,177 total purchases, or 16.23%, signaling competition but not a price forecast.
County-level evidence cannot establish a property’s stabilized rent, operating cost, insurance premium, flood-zone exposure, condition, financing terms, or closed-sale exit price. These gaps prevent a net-yield, debt-service, and resale underwriting conclusion. Next checks are lease comps by bedroom and condition, parcel tax and assessment records, flood maps and insurance quotes, seller disclosures and repair scope, plus closed-sale and pending-contract comps. Test whether citywide concessions and investor participation apply to the target submarket.