3506 Bunker Hill Dr · Cave Spring, VA 24018

$255,500

3 bd · 1.0 ba · 1,377 sqft · SingleFamily public records · 160 Days on market

Built 1952 7,405 sqft lot Est $310k · 18% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +10.1/30.0
• Schools +6.4/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great SW Co. location- Green Valley and Hidden Valley Schools. Brick cape cod w/ new architectural shingle roof. New interior paint, refinished hardwood flooring, new heat pump and all new PEX plumbing. Updated kitchen opens to new deck in rear. Living room w/ fireplace and natural woodwork. Upper level bedroom could be divided into 2 rooms. Lower unfinished level offers great storage and hobby potential. Fenced backyard and detached 1-car garage.

Key facts

• Remodeled bathroom
• New roof
• Detached garage

Tags

• REMODELED BATHROOM
• WOOD-BURNING FIREPLACE
• DECK OVERLOOKING BACKYARD
• NEW ROOF
• FULL WALKOUT BASEMENT
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $256k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (26.2% below list).
• Recommended offer: $189k (26.2% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.4% in Cave Spring — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#113 in VA, #3,513 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: amenities F, commute F.
• Roanoke County Public School District (suburban): math 71% / reading 78% proficiency, ranked #9 of 131 in VA (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Green Valley Elementary (math 63% / reading 75%, grade A-, #351 of 1,108 statewide, top 32%, 518 students, 43% FRL); Hidden Valley Middle (math 76% / reading 83%, grade A+, #28 of 342 statewide, top 8%, 578 students, 26% FRL); Hidden Valley High (math 90% / reading 92%, grade A+, #5 of 319 statewide, top 1%, 830 students, 24% FRL).
• Market conditions: Rents rising (+2.9%/yr); 333 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 360 units permitted in Roanoke County in 2024 (228 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Roanoke County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,565 (26.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.49%
• DSCR: 0.89
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $309,825
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3633 Martinell Ave	0.39mi	3/1.0	1,400 (+2%)	0mo	$264,000	$189	79
3617 View Ave	0.24mi	3/2.0	1,250 (-9%)	2mo	$305,000	$244	68
3823 Green Valley Dr	0.72mi	3/1.0	1,400 (+2%)	1mo	$300,000	$214	63
3533 Bunker Hill Dr	0.07mi	3/2.0	1,568 (+14%)	9mo	$308,500	$197	62
3337 Woodland Dr SW	0.72mi	2/1.5 (-1)	1,394 (+1%)	1mo	$305,000	$219	57
3837 Antietam Dr	0.44mi	3/2.0	1,250 (-9%)	8mo	$290,000	$232	54
4322 Garstview Cir	0.75mi	2/2.0 (-1)	1,358 (-1%)	6mo	$350,000	$258	49
3014 Fleetwood Ave SW	0.53mi	2/1.0 (-1)	1,191 (-14%)	1mo	$237,000	$199	47
3718 Peace Ln	0.59mi	3/2.5	1,443 (+5%)	20mo	$325,000	$225	42
3404 Ashmeade Dr	0.47mi	3/2.0	1,571 (+14%)	10mo	$250,000	$159	42
4346 Garstview Cir	0.71mi	2/2.0 (-1)	1,358 (-1%)	24mo	$329,950	$243	36
4558 Colonial Place Dr	0.75mi	3/2.0	1,553 (+13%)	7mo	$400,000	$258	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.29×
• Total profit: $-51,116
• Equity at exit: $38,096

10-year hold

• IRR: -14.1%
• Equity multiple: 0.19×
• Total profit: $-57,796
• Equity at exit: $22,091

Cash invested: $71,540 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 24018

• Rents YoY: 2.9%
• Active inventory: 333
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,886 high
• Mortgage (P&I): −$1,340
• Tax from tax record: −$191 /mo · $2,298/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-148

Break-even live

Break-even rent $2,073

Max offer price $229,327

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $63,875
• Closing costs: $7,665
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3363 View Ave Roanoke, VA	3.0	1.0	1014	$1,895	$1.87	21d	1	0.18mi
3709 Antietam Dr Roanoke, VA	2.0	1.0	1016	$1,899	$1.87	13d	1	0.30mi
4356 Old Garst Ml Rd Cave Spring, VA	1.0–2.0	1.0–1.5	889	$1,341	$1.51	13d	14	0.46mi
3620 Manassas Dr Roanoke, VA	3.0	1.5	1200	$2,300	$1.92	43d	1	0.51mi
3501 Normandy Ln Roanoke, VA	2.0	1.0	925	$1,250	$1.35	13d	1	0.58mi
3464 Colonial Ave Roanoke, VA	2.0	1.0	1100	$1,495	$1.36	13d	5	0.63mi
3602 Colonial Green Cir SW Roanoke, VA	3.0	2.5	1670	$2,622	$1.57	13d	1	0.65mi
2679 Beverly Blvd SW Roanoke, VA	3.0	1.0	1000	$1,623	$1.62	13d	1	0.87mi
3345 Circle Brook Dr Cave Spring, VA	1.0–3.0	1.0–2.0	997	$1,920	$1.92	13d	11	0.90mi
3101 Honeywood Ln Roanoke, VA	1.0–2.0	1.0–1.5	919	$1,690	$1.84	13d	7	1.00mi
3413 Stonehenge Sq Roanoke, VA	3.0	2.0	1518	$1,900	$1.25	43d	1	1.17mi
3420 Chaparral Dr Roanoke, VA	1.0–2.0	1.0–2.0	895	$1,549	$1.73	13d	5	1.26mi
3273 Forest Ridge Rd Roanoke, VA	2.0	2.0	1252	$1,850	$1.48	21d	1	1.40mi
3366 Forest Ct Roanoke, VA	2.0	2.0	1027	$1,650	$1.61	21d	1	1.47mi
3368 Forest Ct Roanoke, VA	2.0	2.0	1027	$2,350	$2.29	13d	1	1.47mi
4630 Roxbury Ln Cave Spring, VA	1.0–2.0	1.0–1.5	930	$1,625	$1.75	13d	7	1.50mi

Listing history 22 events

1. 2026-03-06
   soldstatus $252,500
2. 2026-01-20
   status Pending
3. 2026-01-09
   price $255,500
4. 2025-12-11
   price $258,400
5. 2025-11-18
   price $258,500
6. 2025-11-11
   price $258,850
7. 2025-11-07
   price $258,900
8. 2025-11-05
   price $258,950
9. 2025-10-31
   price $259,000
10. 2025-10-27
    status Active
11. 2025-10-27
    price $259,950
12. 2025-10-26
    status Pending
13. 2025-09-26
    price $264,500
14. 2025-08-12
    listed $264,950 Active
15. 2023-06-16
    soldstatus $239,950 Closed 451-char remark

    Show marketing remark (451 chars)

    Great SW Co. location- Green Valley and Hidden Valley Schools. Brick cape cod w/ new architectural shingle roof. New interior paint, refinished hardwood flooring, new heat pump and all new PEX plumbing. Updated kitchen opens to new deck in rear. Living room w/ fireplace and natural woodwork. Upper level bedroom could be divided into 2 rooms. Lower unfinished level offers great storage and hobby potential. Fenced backyard and detached 1-car garage.

16. 2023-06-16
    soldstatus $239,950

    Show marketing remark (451 chars)

    Great SW Co. location- Green Valley and Hidden Valley Schools. Brick cape cod w/ new architectural shingle roof. New interior paint, refinished hardwood flooring, new heat pump and all new PEX plumbing. Updated kitchen opens to new deck in rear. Living room w/ fireplace and natural woodwork. Upper level bedroom could be divided into 2 rooms. Lower unfinished level offers great storage and hobby potential. Fenced backyard and detached 1-car garage.

17. 2023-05-11
    status Pending 451-char remark

    Show marketing remark (451 chars)

    Great SW Co. location- Green Valley and Hidden Valley Schools. Brick cape cod w/ new architectural shingle roof. New interior paint, refinished hardwood flooring, new heat pump and all new PEX plumbing. Updated kitchen opens to new deck in rear. Living room w/ fireplace and natural woodwork. Upper level bedroom could be divided into 2 rooms. Lower unfinished level offers great storage and hobby potential. Fenced backyard and detached 1-car garage.

18. 2023-05-03
    price $239,950 451-char remark

    Show marketing remark (451 chars)

    Great SW Co. location- Green Valley and Hidden Valley Schools. Brick cape cod w/ new architectural shingle roof. New interior paint, refinished hardwood flooring, new heat pump and all new PEX plumbing. Updated kitchen opens to new deck in rear. Living room w/ fireplace and natural woodwork. Upper level bedroom could be divided into 2 rooms. Lower unfinished level offers great storage and hobby potential. Fenced backyard and detached 1-car garage.

19. 2023-04-18
    price $249,950 451-char remark

    Show marketing remark (451 chars)

    Great SW Co. location- Green Valley and Hidden Valley Schools. Brick cape cod w/ new architectural shingle roof. New interior paint, refinished hardwood flooring, new heat pump and all new PEX plumbing. Updated kitchen opens to new deck in rear. Living room w/ fireplace and natural woodwork. Upper level bedroom could be divided into 2 rooms. Lower unfinished level offers great storage and hobby potential. Fenced backyard and detached 1-car garage.

20. 2023-02-03
    listed $259,950 Active 451-char remark

    Show marketing remark (451 chars)

    Great SW Co. location- Green Valley and Hidden Valley Schools. Brick cape cod w/ new architectural shingle roof. New interior paint, refinished hardwood flooring, new heat pump and all new PEX plumbing. Updated kitchen opens to new deck in rear. Living room w/ fireplace and natural woodwork. Upper level bedroom could be divided into 2 rooms. Lower unfinished level offers great storage and hobby potential. Fenced backyard and detached 1-car garage.

21. 2023-02-03
    soldstatus $90,000

    Show marketing remark (451 chars)

    Great SW Co. location- Green Valley and Hidden Valley Schools. Brick cape cod w/ new architectural shingle roof. New interior paint, refinished hardwood flooring, new heat pump and all new PEX plumbing. Updated kitchen opens to new deck in rear. Living room w/ fireplace and natural woodwork. Upper level bedroom could be divided into 2 rooms. Lower unfinished level offers great storage and hobby potential. Fenced backyard and detached 1-car garage.

22. 1984-02-01
    soldstatus $41,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $2,298 · $191/mo
• Projected year-2 tax: $2,298 · $191/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,628
• − Mortgage interest: −$14,312
• − Property taxes: −$2,298
• − Insurance: −$1,278
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − Depreciation: −$7,433
• Taxable loss: −$6,313
• Est. tax savings @ 24.0%: +$1,515
• After-tax cash flow: $-263/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Roanoke County Public School District
• NCES district ID: 5103330
• Math proficiency: 71% ▼ -19.00%
• Reading proficiency: 78% ▼ -6.00%
• Median HH income: $60,526
• Composite: 64.08/100
• National rank: #578
• State rank: #9 of 131 in VA

Livability — Cave Spring

• Score: 76/100
• State rank: #113
• US rank: #3513

Category grades

Amenities F Commute F Cost of living A- Crime B- Employment B+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cave Spring, VA
• County: Roanoke County · 67,305 people
• Metro: Roanoke, VA
• Population (ZIP): 38,720
• Household income: $90,885
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 495.0

Population outlook (Roanoke County) Hauer SSP2

• Today (2025): 98,162 people
• By 2030: 99,793 · +1.7%
• By 2040: 101,965 · +3.9%
• By 2050: 103,328 · +5.3%
• By 2075: 108,641 · +10.7%
• By 2100: 104,845 · +6.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 6% Hispanic / Latino 4% Two or more races 4% Black 4%
• Common ancestry: Italian 4% Slovak 3% Serbian 3%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 86% English-only · Spanish 5% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Roanoke

• 2024 margin: Strong R (+22.5) · D 38.2% · R 60.7% · Other 1.1%
• 2008→2024 swing: -1.4pp toward R · 2008: -21.1pp · 2024: -22.5pp
• All cycles: 2024: R+22.5 2020: R+21.8 2016: R+28.1 2012: R+25.6 2008: R+21.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -266.18%
• Current HPI: 176.0558
• Rent YoY: ▲ 2.88%
• Metro: Roanoke, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+515.9% since first listed

22 events — show timeline

• 2026-03-06 Sold (Public Records) $252,500 Public Records
• 2026-01-20 Pending — MLSRV
• 2026-01-09 Price Changed $255,500 MLSRV
• 2025-12-11 Price Changed $258,400 MLSRV
• 2025-11-18 Price Changed $258,500 MLSRV
• 2025-11-11 Price Changed $258,850 MLSRV
• 2025-11-07 Price Changed $258,900 MLSRV
• 2025-11-05 Price Changed $258,950 MLSRV
• 2025-10-31 Price Changed $259,000 MLSRV
• 2025-10-27 Relisted — MLSRV
• 2025-10-27 Price Changed $259,950 MLSRV
• 2025-10-26 Pending — MLSRV
• 2025-09-26 Price Changed $264,500 MLSRV
• 2025-08-12 Listed $264,950 MLSRV
• 2023-06-16 Sold (Public Records) $239,950 Public Records
• 2023-06-16 Sold (MLS) $239,950 MLSRV
• 2023-05-11 Pending — MLSRV
• 2023-05-03 Price Changed $239,950 MLSRV
• 2023-04-18 Price Changed $249,950 MLSRV
• 2023-02-03 Sold (Public Records) $90,000 Public Records
• 2023-02-03 Listed $259,950 MLSRV
• 1984-02-01 Sold (Public Records) $41,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $2,298 · +9.0% YoY. Source: county tax records.