3323 Longhorn Rd · Cave Spring, VA 24018

$325,000

3 bd · 2.0 ba · 1,964 sqft · SingleFamily public records · 36 Days on market

Built 1976 0.30 ac lot $165/sqft · at area comps Est $328k · at est.

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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).

• Cash flow +9.5/30.0
• ARV discount +7.9/15.0
• Schools +6.4/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ABSOLUTELY BEAUTIFUL! THIS HOME IS IMMACULATE. MANY NEW FEATURES. NEW CARPET, FRESH PAINT, NEW DRAWER & CABINET PULLS, NEW FAUCETS, NEW KITCHEN SINK, NEW PLEATED SHADES, NEW FRONT DOOR

Key facts

• Quiet cul-de-sac
• Outdoor entertaining
• 0.3 acre lot

Tags

• LOWER-ENTRY SPLIT-LEVEL HOME
• QUIET CUL-DE-SAC
• CASTLE ROCK NEIGHBORHOOD
• SPACIOUS RECREATIONAL ROOM
• CONVENIENT LAUNDRY AREA
• OUTDOOR ENTERTAINING

Property features AI

Exterior

• Home design: Residential property; Built in 1976
• Construction: Year built 1976
• Exterior features: Lot approximately 0.3 acres (13,068 sq ft); Community restaurant nearby

Interior

• Kitchen: Built-in microwave
• Bedrooms: 4 bedrooms total; 2 main-level bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Heat pump electric heating; Heat pump electric cooling; Has heating and cooling
• Interior features: Built-in microwave oven; Storage; Carpet flooring; Has fireplace (1 total)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $286k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (27.7% below list).
• Recommended offer: $235k (27.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: 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); 339 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 360 units permitted in Roanoke County in 2024 (228 in 5+ unit buildings).
• This rent runs 31% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 36 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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 $213k; list at $325k implies a 53% 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 $234,859 (27.7% 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 36 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — 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: 0.72% ✗
• Cap rate: 5.47%
• Cash-on-cash: -2.94%
• DSCR: 0.87
• GRM: 11.5

CMA / ARV

• ARV (median comp): $327,927
• List price: $325,000
• Delta: -0.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5712 Littlehorn Dr	0.22mi	3/2.0	1,680 (-14%)	2mo	$260,000	$155	64
3153 Shorthorn Dr SW	0.40mi	3/2.0	2,108 (+7%)	9mo	$250,000	$119	62
2540 Mcvitty Rd SW	0.68mi	4/2.0 (+1)	1,929 (-2%)	2mo	$300,000	$156	59
3138 Galloway Dr	0.30mi	4/2.0 (+1)	2,244 (+14%)	2mo	$339,000	$151	56
5217 Lipps Rd	0.69mi	3/2.0	2,092 (+6%)	7mo	$350,000	$167	51
5365 Gieser Rd	0.54mi	3/2.5	2,141 (+9%)	12mo	$369,950	$173	48
6560 Forest View Rd	0.63mi	3/2.5	2,113 (+8%)	18mo	$315,000	$149	41
2762 Mcvitty Rd	0.69mi	3/3.5	2,152 (+10%)	9mo	$530,000	$246	39
4602 Cresthill Dr	0.68mi	3/2.0	2,200 (+12%)	13mo	$350,000	$159	38
2604 Mcvitty Rd	0.66mi	4/2.0 (+1)	1,738 (-12%)	11mo	$373,000	$215	36
5220 Lipps Rd	0.71mi	2/3.0 (-1)	2,040 (+4%)	20mo	$310,000	$152	35
2768 Mcvitty Rd	0.72mi	3/3.5	2,152 (+10%)	15mo	$499,950	$232	32

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: -21.4%
• Equity multiple: 0.26×
• Total profit: $-67,233
• Equity at exit: $48,459

10-year hold

• IRR: -15.3%
• Equity multiple: 0.14×
• Total profit: $-78,287
• Equity at exit: $28,100

Cash invested: $91,000 (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: 339
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,349 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$239 /mo · $2,866/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-223

Break-even live

Break-even rent $2,631

Max offer price $285,564

Occupancy floor —

Sensitivity live

Price	-10% $-39	-5% $-131	+0% $-223	+5% $-315	+10% $-407
Rent	-10% $-409	-5% $-316	+0% $-223	+5% $-130	+10% $-38
Rate	-1.0pp $-60	-0.5pp $-141	base $-223	+0.5pp $-307	+1.0pp $-393

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5220 Lakeland Dr Roanoke, VA	3.0	2.5	2000	$2,695	$1.35	46d	1	0.75mi
5204 Lakeland Dr Roanoke, VA	3.0	2.5	2000	$2,595	$1.30	46d	1	0.78mi

Listing history 11 events

1. 2026-06-01
   statusdays on market $325,000 Pending 36 DOM
2. 2026-05-31
   days on market $325,000 Active 35 DOM
3. 2026-05-30
   days on market $325,000 Active 34 DOM
4. 2026-04-17
   listed $337,750 Active 1150-char remark
5. 2021-05-14
   soldstatus $212,800
6. 2003-06-01
   soldstatus $135,000
7. 2000-06-29
   soldstatus $129,000 190-char remark

   Show marketing remark (190 chars)

   ABSOLUTELY BEAUTIFUL! THIS HOME IS IMMACULATE. MANY NEW FEATURES. NEW CARPET, FRESH PAINT, NEW DRAWER & CABINET PULLS, NEW FAUCETS, NEW KITCHEN SINK, NEW PLEATED SHADES, NEW FRONT DOOR

8. 2000-06-01
   soldstatus $129,000
9. 2000-02-09
   listed $124,950 190-char remark

   Show marketing remark (190 chars)

   ABSOLUTELY BEAUTIFUL! THIS HOME IS IMMACULATE. MANY NEW FEATURES. NEW CARPET, FRESH PAINT, NEW DRAWER & CABINET PULLS, NEW FAUCETS, NEW KITCHEN SINK, NEW PLEATED SHADES, NEW FRONT DOOR

10. 1998-01-01
    soldstatus $115,000
11. 1992-03-01
    soldstatus $94,900

ⓘ 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: $2,866 · $239/mo
• Projected year-2 tax: $2,866 · $239/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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°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: $28,183
• − Mortgage interest: −$18,205
• − Property taxes: −$2,866
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,255
• − Management: −$2,255
• − Depreciation: −$9,455
• Taxable loss: −$8,477
• Est. tax savings @ 24.0%: +$2,035
• After-tax cash flow: $-644/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

+242.5% since first listed

10 events — show timeline

• 2026-06-01 Pending — MLSRV
• 2026-05-28 Price Changed $325,000 MLSRV
• 2026-04-17 Listed $337,750 MLSRV
• 2021-05-14 Sold (Public Records) $212,800 Public Records
• 2003-06-01 Sold (Public Records) $135,000 Public Records
• 2000-06-29 Sold (MLS) $129,000 MLSRV
• 2000-06-01 Sold (Public Records) $129,000 Public Records
• 2000-02-09 Listed $124,950 MLSRV
• 1998-01-01 Sold (Public Records) $115,000 Public Records
• 1992-03-01 Sold (Public Records) $94,900 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,866 · +5.9% YoY. Source: county tax records.