7320 Merriman Rd · Cave Spring, VA 24065

$175,000

3 bd · 1.0 ba · 650 sqft · SingleFamily public records · 10 Days on market

Built 1930 5.60 ac lot

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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 +16.1/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in South Roanoke County, this 3 bedroom, 1 bathroom home offers an opportunity for investors, renovators, or buyers looking for acreage and potential. Situated on over 5 acres and being sold together with 3 additional adjacent lots, the property provides plenty of room for future possibilities, expansion, or recreational use. The home itself is being sold as-is, where-is. Recent improvements include a newer water heater and furnace, offering a head start for the next owner. Whether you're looking for a fixer-upper project, investment property, or land opportunity in South Roanoke County, this property has strong upside potential for the right buyer.

Key facts

• Newer furnace
• Over 5 acres
• Newer water heater

Tags

• OVER 5 ACRES
• NEWER WATER HEATER
• NEWER FURNACE

Property features AI

Finance

• Other: Approximately 5.6-acre lot
• Financial info: Listing price $175,000; Annual tax amount $2,314.41

Exterior

• Parking: Off-street parking
• Home design: Residential property
• Construction: Built in 1930
• Exterior features: Off-street parking

Interior

• Bedrooms: Three bedrooms, all on the main level
• Flooring: Carpet
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Has heating; Forced air gas heating
• Interior features: Total of 4 rooms; Carpet flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $23 ($280/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (16.0% below list).
• Recommended offer: $147k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: 43 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $21k; list at $175k implies a 733% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,085 (16.0% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.84% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.20%
• DSCR: 1.10
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-26,893
• Equity at exit: $26,093

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-21,590
• Equity at exit: $15,131

Cash invested: $49,000 (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 24065

• Home prices YoY: -25.9%
• Active inventory: 43
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,471 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$82 /mo · $978/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $23

Break-even live

Break-even rent $1,441

Max offer price $175,000

Occupancy floor 93%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-13
   statusdays on market $175,000 Pending 10 DOM
2. 2026-06-10
   days on market $175,000 Active 9 DOM
3. 2026-06-09
   days on market $175,000 Active 8 DOM
4. 2026-06-08
   days on market $175,000 Active 7 DOM
5. 2026-06-05
   days on market $175,000 Active 3 DOM
6. 2026-06-02
   remarks 665-char remark
7. 2026-06-02
   listed $175,000 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: $978 · $82/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$457/yr (+$38/mo · 46.7%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 20 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: $17,650
• − Mortgage interest: −$9,803
• − Property taxes: −$978
• − Insurance: −$1,672
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$5,091
• Taxable loss: −$2,718
• Est. tax savings @ 24.0%: +$652
• After-tax cash flow: $932/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

• Population (ZIP): 6,497

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -61.98%
• Current HPI: 177.7607
• Rent YoY: —
• Metro: —
• 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

+733.3% since first listed

2 events — show timeline

• 2026-06-01 Listed $175,000 MLSRV
• 1983-09-01 Sold (Public Records) $21,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $978 · +4.5% YoY. Source: county tax records.