NOT LISTED FOR SALE

2589 Old Ferrum Rd Ferrum, VA 24088

Ferrum Neighborhood

Estimated Value: $177,000 - $259,000

3 Beds
1.5 Baths
1,218 Sq Ft
$190/Sq Ft Est. Value

Last Sold December 14, 2020

Last sale price $113,400 $93 Per Sq Ft

Est. 104% increase in value since last sale

Current estimated payment $1,346/month

177 Days on Market

Highlights

  • 2.06 Acre Lot
  • Ranch Style House
  • Attached Carport
  • Wooded Lot
  • No HOA
  • Gentle Sloping Lot

About This Home

As of December 2020

This cozy home located on Old Ferrum Road would make a great place for your college student! Located only a few minutes from Ferrum College, this home offers 3 bedrooms and 1.5 baths, along with a full walk-out basement and attached carport. Enjoy the proximity to the college as well as Rocky Mount and Smith Mountain Lake just up the road!Great opportunity for a first time home buyer, a rental investment or even somewhere to retire! Property would make a great fixer-upper. Located close to Ferrum VA, Rocky Mount VA, and Smith Mountain Lake, and only 45 minutes to Roanoke VA.

Last Agent to Sell the Property

Cole Harris

U/C BLUE RIDGE LAND & AUCTION CO INC- FLOYD License #0225241001 Listed on: 05/07/2020

Last Buyer's Agent

Tim Massey

WAINWRIGHT & CO., REALTORS(r)- LAKE License #0225198546

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $640

Year Built

  • Built in 1987

Lot Details

  • 2.06 Acre Lot
  • Gentle Sloping Lot
  • Wooded Lot

Parking

  • Attached Carport

Home Design

  • 1,218 Sq Ft Home
  • Ranch Style House

Bedrooms and Bathrooms

  • 3 Main Level Bedrooms

Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Schools

  • Ferrum Elementary School
  • Franklin County High School

Additional Features

  • Laundry on main level
  • Heat Pump System

Community Details

  • No Home Owners Association

Home Details

Home Type

Single Family

Est. Annual Taxes

$640

Year Built

Built in 1987

Lot Details

0

Listing Details

  • Heating System: Heat Pump Electric
  • Type: Residential
  • Has Basement: Walkout - Full
  • Cooling System: Heat Pump Electric
  • BedroomsBREntryLevel: 3
  • EntryAboveGrdFin Sq Ft: 1218.00
  • FullBathsFullBathsEntryLvl: 1
  • Grand Total Attached S Q F T: 2436
  • HalfBathsHalfBathsLowerLvl: 1
  • LaundryLaundryLowerLevel: 1
  • Major Area: 04 - Franklin County
  • Hoa2 Or Poa: No
  • PrimCoveredPrking: Carport Attached
  • RatifiedContractDt: 2020-10-31
  • Residential Type: Detached
  • Style Of House: 1 Story, Ranch
  • Total Above Grd Fin S Q F T: 1218
  • TotalBdrm: 3
  • TotalBths: 1.10
  • TotalFBaths: 1
  • Total Finished Sq Ft: 1218.00
  • TotalHBaths: 1
  • TotalUnfin Sq Ft: 1218.00
  • Unfinished Attached S Q F T Lower Below Grd Unfin S Q F T: 1218.00
  • Water Class: N/A
  • YardSign: Yes
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 1

Interior Features

  • Basement YN: Yes

Utilities

  • Sewer Description: Private Septic - 3BR
  • Water Description: Private Well

Schools

  • Elementary School: Ferrum
  • Middle School: Other - See Remarks
  • High School: Franklin County

Lot Info

  • Lot Description: Gentle Slope, Wooded
  • Lot Dimensions: 2.06 Acres
  • Property Group Id: 19990816212109142258000000
  • Total Acreage: 2.06

Building Info

  • Year Built: 1987

Tax Info

  • Taxes (6 mo): 640.00
  • FILLTAXID: 0810000504A

MLS Schools

  • Elementary School: Ferrum
  • HighSchool: Franklin County
  • Middle School: Other - See Remarks

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 7, 2020
Closed on
Dec 14, 2020
Sold by
Manns Hodges A and Manns Edith Annette
Bought by
Layman Tyler K
Seller's Agent
Cole Harris
U/C BLUE RIDGE LAND & AUCTION CO INC- FLOYD
Buyer's Agent
Tim Massey
WAINWRIGHT & CO., REALTORS(r)- LAKE
List Price
$124,000
Sold Price
$113,400
Premium/Discount to List
-$10,600
-8.55%
Current Estimated Value
$231,723

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$118,323
Avg. Annual Appreciation
14.72%
Original Mortgage
$109,998
Outstanding Balance
$99,872
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$112,213
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Layman Tyler K $113,400 Investors Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Layman Tyler K $109,998
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/14/2020 12/14/20 Sold $113,400 -8.5% $93 / Sq Ft
10/31/2020 10/31/20 Pending -- -- --
05/07/2020 05/07/20 For Sale $124,000 -- $102 / Sq Ft
Source: Roanoke Valley Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $866 $201,400 $29,000 $172,400
2023 $702 $115,000 $22,000 $93,000
2022 $702 $115,000 $22,000 $93,000
2021 $702 $115,000 $22,000 $93,000
2020 $703 $115,200 $22,200 $93,000
2019 $641 $105,000 $22,200 $82,800
2018 $641 $105,000 $22,200 $82,800
2017 $578 $105,500 $22,200 $83,300
2016 $578 $105,500 $22,200 $83,300
2015 $570 $105,500 $22,200 $83,300
2014 $570 $105,500 $22,200 $83,300
2013 $570 $105,500 $22,200 $83,300
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2020

    Cole Harris

    U/C BLUE RIDGE LAND & AUCTION CO INC- FLOYD

    (540) 239-1907

    1 in this area

    42 Total Sales

    Cole Harris
    Section Image

  • T

    Buyer's Agent in 2020

    Tim Massey

    WAINWRIGHT & CO., REALTORS(r)- LAKE

    (540) 420-6864

    1 in this area

    44 Total Sales

    Tim Massey
    Section Image
See All Agents

Map

Source: Roanoke Valley Association of REALTORS®

MLS Number: 869208

Roanoke Valley Association of REALTORS®

APN: 0810000504A

Virginia Franklin County Ferrum 24088 Ferrum

2589 Old Ferrum Rd, Ferrum, VA

This home is located at 2589 Old Ferrum Rd, Ferrum, VA 24088 since 07 May 2020 and is currently estimated at $231,723, approximately $190 per square foot. This property was built in 1987. 2589 Old Ferrum Rd is a home located in Franklin County with nearby schools including Ferrum Elementary School, Benjamin Franklin Middle School, and Franklin County High School.

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Roanoke Valley Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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