3359 Pamlico Dr · Cave Spring, VA 24018

$319,900

4 bd · 1.5 ba · 1,192 sqft · SingleFamily public records · 2 Days on market

Built 1965 9,583 sqft lot Est $308k · 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).

• Cash flow +8.4/30.0
• Schools +6.4/10.0
• ARV discount +5.7/15.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Desirable Cave Spring location with top-rated schools and everyday convenience! This classic 4-bedroom, 1.5-bath ranch offers easy entry-level living with three bedrooms on the main level, including a primary suite with half bath. Hardwood floors are in great condition and continue under the carpet in the bedrooms. The full walkout basement adds valuable space with a fourth bedroom, flexible living area, and excellent storage--perfect for a home office, recreation room, or guest space. Enjoy outdoor living with a large fenced yard, attached carport, and a storage building with electricity. Recent updates include furnace (2021), central air (2022), and water heater (2023)--providing added co

Key facts

• Recent updates
• Cave spring location
• Attached carport

Tags

• CAVE SPRING LOCATION
• TOP-RATED SCHOOLS
• FENCED YARD
• ATTACHED CARPORT
• FULL WALKOUT BASEMENT
• RECENT UPDATES

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-285 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (31.0% below list).
• Recommended offer: $221k (31.0% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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: Cave Spring Elementary (math 77% / reading 82%, grade A, #141 of 1,108 statewide, top 14%, 508 students, 24% 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) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents rising (+2.9%/yr); 340 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $124k; list at $320k implies a 157% 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 $220,733 (31.0% 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.69% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.82%
• DSCR: 0.83
• GRM: 12.1

CMA / ARV

• ARV (on-the-fly): $307,536
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3125 Penn Forest Blvd	0.20mi	3/2.0 (-1)	1,144 (-4%)	22mo	$295,000	$258	58

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: -22.9%
• Equity multiple: 0.21×
• Total profit: $-70,325
• Equity at exit: $47,698

10-year hold

• IRR: -17.7%
• Equity multiple: 0.04×
• Total profit: $-86,008
• Equity at exit: $27,659

Cash invested: $89,572 (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: 340
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,207 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$218 /mo · $2,613/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $-285

Break-even live

Break-even rent $2,568

Max offer price $269,580

Occupancy floor —

Sensitivity live

Price	-10% $-104	-5% $-194	+0% $-285	+5% $-375	+10% $-466
Rent	-10% $-459	-5% $-372	+0% $-285	+5% $-198	+10% $-110
Rate	-1.0pp $-124	-0.5pp $-203	base $-285	+0.5pp $-368	+1.0pp $-452

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3620 Manassas Dr Roanoke, VA	3.0	1.5	1200	$2,300	$1.92	46d	1	0.61mi
3345 Circle Brook Dr Cave Spring, VA	1.0–3.0	1.0–2.0	997	$1,920	$1.92	16d	11	1.06mi
3363 View Ave Roanoke, VA	3.0	1.0	1014	$1,895	$1.87	23d	1	1.14mi

Listing history 4 events

1. 2026-04-26
   status Pending
2. 2026-04-24
   listed $319,900 Active
3. 2000-06-01
   soldstatus $124,500
4. 1995-02-01
   soldstatus $92,000

ⓘ 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: $2,613 · $218/mo
• Projected year-2 tax: $2,623 · $219/mo
• Expected delta: +$10/yr (+$1/mo · 0.4%)

ⓘ 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 ≥99°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: $26,488
• − Mortgage interest: −$17,919
• − Property taxes: −$2,613
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,119
• − Management: −$2,119
• − Depreciation: −$9,306
• Taxable loss: −$9,188
• Est. tax savings @ 24.0%: +$2,205
• After-tax cash flow: $-1,213/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

+247.7% since first listed

4 events — show timeline

• 2026-04-26 Pending — MLSRV
• 2026-04-24 Listed $319,900 MLSRV
• 2000-06-01 Sold (Public Records) $124,500 Public Records
• 1995-02-01 Sold (Public Records) $92,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,613 · +8.6% YoY. Source: county tax records.