5146 Overland Dr · Cave Spring, VA 24018

$275,000

3 bd · 2.0 ba · 1,040 sqft · SingleFamily public records · 41 Days on market

Built 1990 9,147 sqft lot $264/sqft · 87% above area Est $308k · 11% 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 +12.3/15.0
• Cash flow +7.6/30.0
• Schools +6.4/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable ranch home in Southwest County with 3 bedrooms, 2 bathrooms on the entry level. The walkout basement is partially finished with plenty of storage, laundry area and is plumbed for a third bathroom. Outside there is a shed for storing lawn and garden tools. Enjoy entertaining on your deck with a wooded backyard that allows plenty of privacy. Hot water heater was replaced approximately 5 years ago. This is a must see home!

Key facts

• New roof
• Large rear deck
• 9,147 sq ft lot

Tags

• NEW ROOF
• LARGE REAR DECK
• AFTERNOON MOUNTAIN VIEWS
• AMPLE ROOM FOR STORAGE
• ROUGHED IN FOR 3RD BATHROOM

Property features AI

Exterior

• Utilities: Electric heat pump
• Home design: Residential property; Built in 1990
• Construction: Year built: 1990
• Exterior features: Front porch; Lot of about 0.21 acres

Interior

• Kitchen: Built-in microwave
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Heat pump (electric) providing heating and cooling; Has heating and has cooling
• Interior features: Storage; Insulated doors and windows; Built-in microwave oven

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-335 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (21.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (34.7% below list).
• Recommended offer: $180k (34.7% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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: Penn Forest Elementary (math 83% / reading 88%, grade A+, #61 of 1,108 statewide, top 6%, 400 students, 26% FRL); Cave Spring Middle (math 76% / reading 82%, grade A+, #29 of 342 statewide, top 9%, 765 students, 30% FRL); Cave Spring High (math 86% / reading 90%, grade A, #13 of 319 statewide, top 4%, 1,056 students, 22% FRL).
• Market conditions: Rents rising (+2.9%/yr); 333 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 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 41 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $225k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $179,513 (34.7% 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 41 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.65% ✗
• Cap rate: 4.83%
• Cash-on-cash: -5.23%
• DSCR: 0.77
• GRM: 12.8

CMA / ARV

• ARV (median comp): $307,505
• List price: $275,000
• Delta: -10.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5344 Downing St	0.20mi	2/1.0 (-1)	1,188 (+14%)	2mo	$227,000	$191	56

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: -25.4%
• Equity multiple: 0.14×
• Total profit: $-66,207
• Equity at exit: $41,003

10-year hold

• IRR: -22.0%
• Equity multiple: -0.12×
• Total profit: $-86,307
• Equity at exit: $23,777

Cash invested: $77,000 (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: 12.8×

Monthly cashflow live

• Estimated rent: $1,795 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$197 /mo · $2,363/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $-335

Break-even live

Break-even rent $2,220

Max offer price $215,739

Occupancy floor —

Sensitivity live

Price	-10% $-180	-5% $-258	+0% $-335	+5% $-413	+10% $-491
Rent	-10% $-477	-5% $-406	+0% $-335	+5% $-265	+10% $-194
Rate	-1.0pp $-197	-0.5pp $-266	base $-335	+0.5pp $-407	+1.0pp $-479

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3273 Forest Ridge Rd Roanoke, VA	2.0	2.0	1252	$1,850	$1.48	21d	1	0.75mi
3368 Forest Ct Roanoke, VA	2.0	2.0	1027	$2,350	$2.29	14d	1	0.77mi
3366 Forest Ct Roanoke, VA	2.0	2.0	1027	$1,650	$1.61	21d	1	0.77mi
3215 Chaparral Dr Unit H Cave Spring, VA	2.0	2.0	750	$1,023	$1.36	44d	1	0.81mi
5260 Crossbow Cir Unit 8A Roanoke, VA	2.0	2.0	1178	$1,450	$1.23	21d	1	0.82mi
3420 Chaparral Dr Roanoke, VA	1.0–2.0	1.0–2.0	895	$1,549	$1.73	14d	5	0.85mi
3101 Honeywood Ln Roanoke, VA	1.0–2.0	1.0–1.5	919	$1,690	$1.84	14d	7	1.35mi
3620 Manassas Dr Roanoke, VA	3.0	1.5	1200	$2,300	$1.92	44d	1	1.42mi
3345 Circle Brook Dr Cave Spring, VA	1.0–3.0	1.0–2.0	997	$1,920	$1.92	14d	11	1.45mi
3464 Colonial Ave Roanoke, VA	2.0	1.0	1100	$1,495	$1.36	14d	5	1.47mi

Listing history 30 events

1. 2026-06-18
   days on market $275,000 Active 41 DOM
2. 2026-06-17
   days on market $275,000 Active 40 DOM
3. 2026-06-16
   days on market $275,000 Active 39 DOM
4. 2026-06-15
   days on market $275,000 Active 38 DOM
5. 2026-06-14
   days on market $275,000 Active 36 DOM
6. 2026-06-13
   days on market $275,000 Active 35 DOM
7. 2026-06-10
   days on market $275,000 Active 33 DOM
8. 2026-06-09
   days on market $275,000 Active 32 DOM
9. 2026-06-08
   days on market $275,000 Active 31 DOM
10. 2026-06-05
    days on market $275,000 Active 27 DOM
11. 2026-06-02
    days on market $275,000 Active 25 DOM
12. 2026-06-01
    days on market $275,000 Active 24 DOM
13. 2026-05-31
    days on market $275,000 Active 23 DOM
14. 2026-05-30
    pricedays on market $275,000 Active 22 DOM
15. 2026-05-08
    listed $295,000 Active 510-char remark
16. 2025-11-22
    historical $1,950
17. 2025-10-22
    listed $1,950
18. 2025-10-16
    historical $1,950
19. 2025-10-14
    price $1,950
20. 2025-09-23
    price $2,100
21. 2025-09-09
    price $2,150
22. 2025-09-04
    price $2,350
23. 2025-08-27
    price $2,495
24. 2025-08-16
    listed $2,850
25. 2025-02-14
    soldstatus $225,000 Closed 432-char remark

    Show marketing remark (432 chars)

    Adorable ranch home in Southwest County with 3 bedrooms, 2 bathrooms on the entry level. The walkout basement is partially finished with plenty of storage, laundry area and is plumbed for a third bathroom. Outside there is a shed for storing lawn and garden tools. Enjoy entertaining on your deck with a wooded backyard that allows plenty of privacy. Hot water heater was replaced approximately 5 years ago. This is a must see home!

26. 2025-02-14
    soldstatus $225,000

    Show marketing remark (432 chars)

    Adorable ranch home in Southwest County with 3 bedrooms, 2 bathrooms on the entry level. The walkout basement is partially finished with plenty of storage, laundry area and is plumbed for a third bathroom. Outside there is a shed for storing lawn and garden tools. Enjoy entertaining on your deck with a wooded backyard that allows plenty of privacy. Hot water heater was replaced approximately 5 years ago. This is a must see home!

27. 2025-01-09
    status Pending 432-char remark

    Show marketing remark (432 chars)

    Adorable ranch home in Southwest County with 3 bedrooms, 2 bathrooms on the entry level. The walkout basement is partially finished with plenty of storage, laundry area and is plumbed for a third bathroom. Outside there is a shed for storing lawn and garden tools. Enjoy entertaining on your deck with a wooded backyard that allows plenty of privacy. Hot water heater was replaced approximately 5 years ago. This is a must see home!

28. 2025-01-08
    listed $248,950 Active 432-char remark

    Show marketing remark (432 chars)

    Adorable ranch home in Southwest County with 3 bedrooms, 2 bathrooms on the entry level. The walkout basement is partially finished with plenty of storage, laundry area and is plumbed for a third bathroom. Outside there is a shed for storing lawn and garden tools. Enjoy entertaining on your deck with a wooded backyard that allows plenty of privacy. Hot water heater was replaced approximately 5 years ago. This is a must see home!

29. 1997-05-01
    soldstatus $90,000
30. 1990-07-01
    soldstatus $77,500

ⓘ 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: $2,363 · $197/mo
• Projected year-2 tax: $2,363 · $197/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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°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: $21,542
• − Mortgage interest: −$15,404
• − Property taxes: −$2,363
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,723
• − Management: −$1,723
• − Depreciation: −$8,000
• Taxable loss: −$9,047
• Est. tax savings @ 24.0%: +$2,171
• After-tax cash flow: $-1,854/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

+254.8% since first listed

17 events — show timeline

• 2026-05-29 Price Changed $275,000 MLSRV
• 2026-05-08 Listed $295,000 MLSRV
• 2025-11-22 Rental Removed $1,950 MLSRV
• 2025-10-22 Listed for Rent $1,950 MLSRV
• 2025-10-16 Rental Removed $1,950 MLSRV
• 2025-10-14 Price Changed $1,950 MLSRV
• 2025-09-23 Price Changed $2,100 MLSRV
• 2025-09-09 Price Changed $2,150 MLSRV
• 2025-09-04 Price Changed $2,350 MLSRV
• 2025-08-27 Price Changed $2,495 MLSRV
• 2025-08-16 Listed for Rent $2,850 MLSRV
• 2025-02-14 Sold (Public Records) $225,000 Public Records
• 2025-02-14 Sold (MLS) $225,000 MLSRV
• 2025-01-09 Pending — MLSRV
• 2025-01-08 Listed $248,950 MLSRV
• 1997-05-01 Sold (Public Records) $90,000 Public Records
• 1990-07-01 Sold (Public Records) $77,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,363 · +7.1% YoY. Source: county tax records.