4624 Dyer Ct · Cave Spring, VA 24018

$315,000

3 bd · 3.0 ba · 1,727 sqft · Townhouse public records · 14 Days on market

Built 1978 4,356 sqft lot Est $266k · 18% over $144/mo HOA · 8% of rent

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Why this score? — see what drove the F 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).

• Schools +6.4/10.0
• Cash flow +5.9/30.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own your own beautiful townhome with one of the lowest HOA's in town. Beautiful views all around and centrally located. This townhome offers 3 bedroom, 2 full bathrooms and 2 half baths. Nicely appointed Kitchen with SS appliances with lots of natural light. Enjoy evening on your deck. Finished, walk out basement with Family room, half bath and Laundry.

Key facts

• Walkout basement
• Renovated kitchen
• Fenced backyard

Tags

• RENOVATED TOWNHOME
• WALKOUT BASEMENT
• FENCED BACKYARD
• RENOVATED KITCHEN
• NEWER STAINLESS APPLIANCES
• DESIGNATED PARKING SPACES

Property features AI

Finance

• HOA & community: Homeowners association with a $144 monthly fee

Exterior

• Parking: 2 open parking spaces; Designated parking spaces
• Utilities: Has heating; Has cooling
• Home design: Residential property
• Construction: Built in 1978
• Exterior features: Rear porch; Common pool (community feature); Public transportation access (community feature)

Interior

• Kitchen: Built-in microwave
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Concrete
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Forced-air electric heating; Has cooling
• Interior features: Storage; Fiberglass and insulated storm doors; Insulated, tilt-in windows

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $315k.

Deal economics

• At list price, monthly cash flow is $-618 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (34.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (39.9% below list).
• Recommended offer: $189k (39.9% below list) — sets the bar for 1% rule.

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: Oak Grove Elementary (math 77% / reading 77%, grade A, #171 of 1,108 statewide, top 17%, 415 students, 38% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $9k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 19y 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.
• Current owner paid $210k; list at $315k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,454 (39.9% 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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.60% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.41%
• DSCR: 0.63
• GRM: 13.9

CMA / ARV

• ARV (on-the-fly): $265,958
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4725 Glen Heather Cir	0.15mi	3/3.0	1,696 (-2%)	6mo	$280,000	$165	85
4865 Glen Ivy Ln SW Apt 208	0.24mi	3/2.0	1,717 (-1%)	2mo	$293,000	$171	82
4641 Heather Dr SW Apt 313	0.22mi	2/2.0 (-1)	1,709 (-1%)	0mo	$237,500	$139	79
4715 Wembley Pl SW	0.33mi	3/3.0	1,736 (+0%)	6mo	$300,000	$173	79
4538 Andover Ct	0.07mi	3/3.0	1,848 (+7%)	13mo	$257,800	$140	74
4631 Heather Dr SW #106	0.16mi	2/2.0 (-1)	1,684 (-2%)	12mo	$260,000	$154	69
4621 Heather Dr #320	0.19mi	3/2.0	1,612 (-7%)	10mo	$289,950	$180	68
4825 Glen Ivy Ln SW #315	0.18mi	2/2.0 (-1)	1,850 (+7%)	8mo	$274,000	$148	64
4845 Glen Ivy Ln SW #209	0.20mi	2/2.0 (-1)	1,849 (+7%)	10mo	$240,000	$130	62
4845 Glen Ivy Ln SW #315	0.20mi	2/2.0 (-1)	1,850 (+7%)	13mo	$267,000	$144	59
4621 Heather Dr SW #211	0.19mi	2/2.0 (-1)	1,507 (-13%)	3mo	$215,000	$143	59
4621 Heather Dr SW #323	0.19mi	2/2.0 (-1)	1,507 (-13%)	8mo	$252,250	$167	54

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: -31.3%
• Equity multiple: -0.03×
• Total profit: $-90,648
• Equity at exit: $46,968

10-year hold

• IRR: -35.3%
• Equity multiple: -0.48×
• Total profit: $-130,599
• Equity at exit: $27,235

Cash invested: $88,200 (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: 13.9×

Monthly cashflow live

• Estimated rent: $1,895 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$188 /mo · $2,252/yr
• Insurance: −$131
• HOA: −$144
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-618

Break-even live

Break-even rent $2,677

Max offer price $205,812

Occupancy floor —

Sensitivity live

Price	-10% $-440	-5% $-529	+0% $-618	+5% $-707	+10% $-796
Rent	-10% $-768	-5% $-693	+0% $-618	+5% $-543	+10% $-468
Rate	-1.0pp $-459	-0.5pp $-538	base $-618	+0.5pp $-700	+1.0pp $-783

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4630 Roxbury Ln Cave Spring, VA	1.0–2.0	1.0–1.5	930	$1,625	$1.75	14d	7	0.02mi
4356 Old Garst Ml Rd Cave Spring, VA	1.0–2.0	1.0–1.5	889	$1,341	$1.51	14d	14	1.03mi
5204 Lakeland Dr Roanoke, VA	3.0	2.5	2000	$2,595	$1.30	45d	1	1.06mi
5220 Lakeland Dr Roanoke, VA	3.0	2.5	2000	$2,695	$1.35	45d	1	1.06mi

HOA detail

• Monthly dues: $144 · $1,728/yr

Listing history 11 events

1. 2026-06-18
   days on market $315,000 Active 14 DOM
2. 2026-06-17
   days on market $315,000 Active 13 DOM
3. 2026-06-16
   days on market $315,000 Active 12 DOM
4. 2026-06-15
   days on market $315,000 Active 11 DOM
5. 2026-06-14
   days on market $315,000 Active 9 DOM
6. 2026-06-13
   days on market $315,000 Active 8 DOM
7. 2026-06-10
   days on market $315,000 Active 6 DOM
8. 2026-06-09
   days on market $315,000 Active 5 DOM
9. 2026-06-08
   days on market $315,000 Active 4 DOM
10. 2026-06-05
    remarks 357-char remark
11. 2026-06-05
    listed $315,000 Active 1 DOM

ⓘ 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: $2,252 · $188/mo
• Projected year-2 tax: $2,583 · $215/mo
• Expected delta: +$331/yr (+$28/mo · 14.7%)

ⓘ 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 · 19 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: $22,734
• − Mortgage interest: −$17,645
• − Property taxes: −$2,252
• − Insurance: −$1,575
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − HOA: −$1,728
• − Depreciation: −$9,164
• Taxable loss: −$13,266
• Est. tax savings @ 24.0%: +$3,184
• After-tax cash flow: $-4,233/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

+356.5% since first listed

26 events — show timeline

• 2026-05-22 Listed $315,000 MLSRV
• 2024-09-13 Rental Removed $1,995 MLSRV
• 2024-08-18 Rental Removed $1,995 APPFOLIO
• 2024-08-17 Listed for Rent $1,995 APPFOLIO
• 2024-08-08 Rental Removed $1,995 APPFOLIO
• 2024-08-08 Listed for Rent $1,995 APPFOLIO
• 2024-08-07 Listed for Rent $1,995 MLSRV
• 2024-08-03 Rental Removed $1,995 MLSRV
• 2024-07-19 Rental Removed $1,995 APPFOLIO
• 2024-07-18 Listed for Rent $1,995 MLSRV
• 2024-07-09 Listed for Rent $1,995 APPFOLIO
• 2023-07-14 Rental Removed — APPFOLIO
• 2022-12-30 Sold (Public Records) $210,000 Public Records
• 2022-12-29 Sold (MLS) $210,000 MLSRV
• 2022-11-06 Pending — MLSRV
• 2022-11-02 Price Changed $221,950 MLSRV
• 2022-10-06 Listed $224,950 MLSRV
• 2022-09-26 Coming Soon $224,950 MLSRV
• 2009-09-16 Sold (Public Records) $153,000 Public Records
• 2009-09-15 Sold (MLS) $153,000 MLSRV
• 2009-02-12 Listed $159,950 MLSRV
• 2007-12-14 Sold (MLS) $152,500 MLSRV
• 2007-12-01 Sold (Public Records) $152,500 Public Records
• 2007-09-14 Listed $154,950 MLSRV
• 1991-02-01 Sold (Public Records) $75,000 Public Records
• 1987-04-01 Sold (Public Records) $69,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,252 · +5.0% YoY. Source: county tax records.