3310 Melody Ave · Cave Spring, VA 24018

$329,900

3 bd · 2.5 ba · 1,344 sqft · SingleFamily public records · 52 Days on market

Built 1957 0.26 ac lot $245/sqft · 93% above area Est $342k · at est.

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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).

• ARV discount +9.1/15.0
• Schools +6.4/10.0
• Cash flow +5.8/30.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 3310 Melody Ave in Roanoke County. This charming brick ranch offers the perfect blend of comfort and convenience. Featuring 3 bedrooms and 2.5 bathrooms, this home provides plenty of space for everyday living and entertaining. A brand-new roof adds peace of mind, while the fenced-in backyard is ideal for pets, play, or relaxing evenings outdoors. Enjoy easy, one-level living in a well-established setting, all while being conveniently located near shopping, dining, and everyday amenities.

Key facts

• One-level living
• Brand-new roof
• Fenced-in backyard

Tags

• BRAND-NEW ROOF
• FENCED-IN BACKYARD
• ONE-LEVEL LIVING

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-660 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (35.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (44.7% below list).
• Recommended offer: $182k (44.7% 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+, schools 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.
• 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 $10k 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 52 days — a 3% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $285k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• 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 $182,364 (44.7% 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 52 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.55% ✗
• Cap rate: 3.89%
• Cash-on-cash: -8.58%
• DSCR: 0.62
• GRM: 15.1

CMA / ARV

• ARV (median comp): $342,238
• List price: $329,900
• Delta: -3.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3617 View Ave	0.61mi	3/2.0	1,250 (-7%)	2mo	$305,000	$244	56
3014 Fleetwood Ave SW	0.32mi	2/1.0 (-1)	1,191 (-11%)	1mo	$237,000	$199	54
3633 Martinell Ave	0.73mi	3/1.0	1,400 (+4%)	0mo	$264,000	$189	52
3713 Pinevale Rd	0.35mi	3/2.0	1,166 (-13%)	10mo	$305,000	$262	51
2825 Tillett Rd SW	0.59mi	3/2.0	1,452 (+8%)	20mo	$299,000	$206	40
4346 Garstview Cir	0.74mi	2/2.0 (-1)	1,358 (+1%)	24mo	$329,950	$243	37

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: -31.6%
• Equity multiple: -0.04×
• Total profit: $-95,814
• Equity at exit: $49,189

10-year hold

• IRR: -36.4%
• Equity multiple: -0.50×
• Total profit: $-138,819
• Equity at exit: $28,524

Cash invested: $92,372 (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: 15.1×

Monthly cashflow live

• Estimated rent: $1,824 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$233 /mo · $2,802/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-660

Break-even live

Break-even rent $2,659

Max offer price $213,259

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: $82,475
• Closing costs: $9,897
• 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	0.34mi
2679 Beverly Blvd SW Roanoke, VA	3.0	1.0	1000	$1,623	$1.62	13d	1	0.46mi
4356 Old Garst Ml Rd Cave Spring, VA	1.0–2.0	1.0–1.5	889	$1,341	$1.51	13d	14	0.54mi
3602 Colonial Green Cir SW Roanoke, VA	3.0	2.5	1670	$2,622	$1.57	13d	1	0.57mi
3709 Antietam Dr Roanoke, VA	2.0	1.0	1016	$1,899	$1.87	13d	1	0.71mi
3464 Colonial Ave Roanoke, VA	2.0	1.0	1100	$1,495	$1.36	13d	5	0.79mi
3501 Normandy Ln Roanoke, VA	2.0	1.0	925	$1,250	$1.35	13d	1	0.85mi
3620 Manassas Dr Roanoke, VA	3.0	1.5	1200	$2,300	$1.92	43d	1	0.92mi
3345 Circle Brook Dr Cave Spring, VA	1.0–3.0	1.0–2.0	997	$1,920	$1.92	13d	11	1.00mi
3101 Honeywood Ln Roanoke, VA	1.0–2.0	1.0–1.5	919	$1,690	$1.84	13d	7	1.12mi
2615 Laburnum Ave SW Roanoke, VA	2.0	1.5	1323	$1,800	$1.36	43d	1	1.31mi
2615 Laburnum Ave SW Roanoke, VA	2.0	1.5	1323	$1,825	$1.38	21d	1	1.31mi
2432 Brandon Ave SW Roanoke, VA	2.0	1.0	1015	$1,275	$1.26	43d	1	1.37mi
4630 Roxbury Ln Cave Spring, VA	1.0–2.0	1.0–1.5	930	$1,625	$1.75	13d	7	1.45mi
1924 Arden Rd SW Roanoke, VA	2.0	1.0	1008	$1,550	$1.54	43d	1	1.48mi
737 Townside Rd SW Unit 39 Roanoke, VA	2.0	1.0	900	$900	$1.00	43d	1	1.50mi

Listing history 12 events

1. 2026-05-15
   status Pending 508-char remark

   Show marketing remark (508 chars)

   Welcome home to 3310 Melody Ave in Roanoke County. This charming brick ranch offers the perfect blend of comfort and convenience. Featuring 3 bedrooms and 2.5 bathrooms, this home provides plenty of space for everyday living and entertaining. A brand-new roof adds peace of mind, while the fenced-in backyard is ideal for pets, play, or relaxing evenings outdoors. Enjoy easy, one-level living in a well-established setting, all while being conveniently located near shopping, dining, and everyday amenities.

2. 2026-04-17
   price $329,900 508-char remark

   Show marketing remark (508 chars)

   Welcome home to 3310 Melody Ave in Roanoke County. This charming brick ranch offers the perfect blend of comfort and convenience. Featuring 3 bedrooms and 2.5 bathrooms, this home provides plenty of space for everyday living and entertaining. A brand-new roof adds peace of mind, while the fenced-in backyard is ideal for pets, play, or relaxing evenings outdoors. Enjoy easy, one-level living in a well-established setting, all while being conveniently located near shopping, dining, and everyday amenities.

3. 2026-03-24
   listed $339,900 Active 508-char remark

   Show marketing remark (508 chars)

   Welcome home to 3310 Melody Ave in Roanoke County. This charming brick ranch offers the perfect blend of comfort and convenience. Featuring 3 bedrooms and 2.5 bathrooms, this home provides plenty of space for everyday living and entertaining. A brand-new roof adds peace of mind, while the fenced-in backyard is ideal for pets, play, or relaxing evenings outdoors. Enjoy easy, one-level living in a well-established setting, all while being conveniently located near shopping, dining, and everyday amenities.

4. 2023-03-01
   soldstatus $285,000 Closed 385-char remark

   Show marketing remark (385 chars)

   FANTASTIC BRICK RANCH IN SW ROANOKE COUNTY. UPDATED KITCHEN W/ QUARTZ COUNTERTOPS AND NEWER APPLIANCES. MASTER BEDROOM W/ SITTING ROOM OR 4TH BEDROOM. WALK IN CLOSET. FINISHED BASEMENT, RECREATION ROOM, LARGE GYM OR OFFICE AREA. YOU WILL LOVE THE BRICK THREE SEASON PORCH! THE BACKYARD IS PERFECT FOR ENTERTAINING. LEVEL FENCED YARD, PATIO AREA AND A STORAGE SHED. REPLACEMENT WINDOWS.

5. 2023-03-01
   soldstatus $285,000

   Show marketing remark (385 chars)

   FANTASTIC BRICK RANCH IN SW ROANOKE COUNTY. UPDATED KITCHEN W/ QUARTZ COUNTERTOPS AND NEWER APPLIANCES. MASTER BEDROOM W/ SITTING ROOM OR 4TH BEDROOM. WALK IN CLOSET. FINISHED BASEMENT, RECREATION ROOM, LARGE GYM OR OFFICE AREA. YOU WILL LOVE THE BRICK THREE SEASON PORCH! THE BACKYARD IS PERFECT FOR ENTERTAINING. LEVEL FENCED YARD, PATIO AREA AND A STORAGE SHED. REPLACEMENT WINDOWS.

6. 2023-01-20
   status Pending 385-char remark

   Show marketing remark (385 chars)

   FANTASTIC BRICK RANCH IN SW ROANOKE COUNTY. UPDATED KITCHEN W/ QUARTZ COUNTERTOPS AND NEWER APPLIANCES. MASTER BEDROOM W/ SITTING ROOM OR 4TH BEDROOM. WALK IN CLOSET. FINISHED BASEMENT, RECREATION ROOM, LARGE GYM OR OFFICE AREA. YOU WILL LOVE THE BRICK THREE SEASON PORCH! THE BACKYARD IS PERFECT FOR ENTERTAINING. LEVEL FENCED YARD, PATIO AREA AND A STORAGE SHED. REPLACEMENT WINDOWS.

7. 2023-01-17
   listed $285,000 Active 385-char remark

   Show marketing remark (385 chars)

   FANTASTIC BRICK RANCH IN SW ROANOKE COUNTY. UPDATED KITCHEN W/ QUARTZ COUNTERTOPS AND NEWER APPLIANCES. MASTER BEDROOM W/ SITTING ROOM OR 4TH BEDROOM. WALK IN CLOSET. FINISHED BASEMENT, RECREATION ROOM, LARGE GYM OR OFFICE AREA. YOU WILL LOVE THE BRICK THREE SEASON PORCH! THE BACKYARD IS PERFECT FOR ENTERTAINING. LEVEL FENCED YARD, PATIO AREA AND A STORAGE SHED. REPLACEMENT WINDOWS.

8. 2016-06-09
   soldstatus $140,000
9. 2016-06-09
   soldstatus $140,100
10. 2016-04-09
    listed $155,000
11. 1993-08-01
    soldstatus $93,000
12. 1990-02-01
    soldstatus $72,300

ⓘ 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: $2,802 · $233/mo
• Projected year-2 tax: $2,802 · $233/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 · 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: $21,884
• − Mortgage interest: −$18,480
• − Property taxes: −$2,802
• − Insurance: −$1,650
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$9,597
• Taxable loss: −$14,145
• Est. tax savings @ 24.0%: +$3,395
• After-tax cash flow: $-4,528/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

+356.3% since first listed

12 events — show timeline

• 2026-05-15 Pending — MLSRV
• 2026-04-17 Price Changed $329,900 MLSRV
• 2026-03-24 Listed $339,900 MLSRV
• 2023-03-01 Sold (Public Records) $285,000 Public Records
• 2023-03-01 Sold (MLS) $285,000 MLSRV
• 2023-01-20 Pending — MLSRV
• 2023-01-17 Listed $285,000 MLSRV
• 2016-06-09 Sold (Public Records) $140,100 Public Records
• 2016-06-09 Sold (MLS) $140,000 MLSRV
• 2016-04-09 Listed $155,000 MLSRV
• 1993-08-01 Sold (Public Records) $93,000 Public Records
• 1990-02-01 Sold (Public Records) $72,300 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,802 · +6.8% YoY. Source: county tax records.