NOT LISTED FOR SALE

308 Armory Rd Galax, VA 24333

Estimated Value: $322,000 - $440,000

16 Beds
2 Baths
2,448 Sq Ft
$158/Sq Ft Est. Value

Last Sold February 15, 2022

Last sale price $645,000 $263 Per Sq Ft

Est. 40% decrease in value since last sale

Current estimated payment $2,199/month

191 Days on Market

Highlights

  • 1.7 Acre Lot
  • Newly Painted Property
  • Central Air
  • Mature Trees
  • Tile Flooring
  • Satellite Dish

About This Home

As of February 2022

Great investment property which carries nearly 100% occupancy. 4 separate duplexes. All are 2 bedroom, 1 1/2 bathroom units. 3 duplexes have basements and 1 duplex has garage under. Of the ones with basements, 1 duplex has both sides partially finished. Tenants enjoy the outdoor living on the back decks which provide amazing views. All units are currently occupied.

Last Agent to Sell the Property

Bill Gearhart

Coldwell Banker Townside License #0225107794 Listed on: 06/25/2021

Coldwell Banker Townside

Last Buyer's Agent

Non Member Non Member

Non Member Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,827

Year Built

  • Built in 1988

Lot Details

  • 1.7 Acre Lot
  • Mature Trees

Home Design

  • 2,448 Sq Ft Home
  • Newly Painted Property
  • Block Foundation
  • Fire Rated Drywall
  • Shingle Roof
  • Metal Roof
  • Vinyl Siding
  • Masonite

Kitchen

  • Oven or Range
  • Stove
  • Range Hood
  • Dishwasher

Flooring

  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 2 Bathrooms

Partially Finished Basement

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

Parking

  • Paved Parking
  • Open Parking

Outdoor Features

  • Rain Gutters

Schools

  • Galax Elementary And Middle School
  • Galax High School

Utilities

  • Central Air
  • Heat Pump System
  • Separate Meters
  • Natural Gas Not Available
  • Electric Water Heater
  • Satellite Dish
  • Cable TV Available

Community Details

Overview

  • 8 Units

Building Details

  • Gross Income $61,371
  • Net Operating Income $390

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,827

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 1.7
  • Lot Size: Refer to Deed
  • Road Surface Type: Paved
  • Directions: Beginning at I-77 Exit 14 Galax/Hillsville, merge onto US-58 W toward Galax for 11 Miles. Turn right onto Armory Rd. When Armory turns to the left Units A & B are on the right. If you continue straight (not turn left) on the cut through to Pine Knoll Dr, Units C,D,E,F,G & H are on the left..
  • Structure Type: Multiple Buildings, Side by Side
  • Year Built: 1988
  • Special Features: None

Interior Features

  • Appliances: Range/Oven, Refrigerator, Dishwasher, Range Hood, Electric Water Heater, 2 Bdrm-Dishwasher, 2 Bdrm-Stove, 2 Bdrm-Refrigerator
  • Other Equipment: Satellite Dish
  • Has Basement: Full, Unfinished, Walk-Out Access, Partially Finished, Basement/Foundation Other/See Remarks
  • Total Bedrooms: 16
  • Fireplace Features: None
  • Flooring: Carpet, Tile, Vinyl
  • Interior Amenities: Newer Paint
  • Living Area: 2448
  • Window Features: Other-See Remarks

Exterior Features

  • Waterfront Features: None
  • Waterfront: No
  • Disclosures: Property Disclosure
  • Construction Type: Masonite, Vinyl Siding, Dry Wall
  • Exterior Features: Rain Gutters, Mature Trees
  • Foundation Details: Block, Basement/Foundation Other/See Remarks
  • Property Condition: Exterior Condition: Very Good, Interior Condition: Very Good
  • Roof: Metal, Shingle

Garage/Parking

  • Open Parking: Yes
  • Parking Features: Paved

Utilities

  • Laundry Features: In Kitchen
  • Security: Smoke Detector(s)
  • Cooling: Central Air, 2 Bdrm-Central A/C
  • Cooling Y N: Yes
  • Heating: Heat Pump, Hvac
  • Heating Yn: Yes
  • Electric: Separate Meters
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Natural Gas Not Available
  • Water Source: Public

Schools

  • Elementary School: Galax
  • High School: Galax
  • Middle Or Junior School: Galax

Lot Info

  • Lot Size Sq Ft: 74052
  • Zoning: R2
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 8
  • Annual Gross Income: 61371.45
  • Property Net Operating Income: 390.32
  • Number Of Units Leased: 8
  • Above Grade Finished Area Units: Square Feet

Tax Info

  • Tax Annual Amount: 5826.88
  • Tax Lot: 0
  • Tax Map Number: 52-83
  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 25, 2011
Current Estimated Value
$388,000
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
-- -- --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/15/2022 02/15/22 Sold $645,000 -4.4% $263 / Sq Ft
01/03/2022 01/03/22 Pending -- -- --
06/25/2021 06/25/21 For Sale $675,000 -- $276 / Sq Ft
Source: Southwest Virginia 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 $2,061 $206,100 $25,000 $181,100
2023 $3,120 $312,000 $20,000 $292,000
2022 $3,120 $312,000 $20,000 $292,000
2021 $2,870 $312,000 $20,000 $292,000
2020 $2,870 $312,000 $20,000 $292,000
2019 -- $312,000 $20,000 $292,000
2017 -- $331,900 $27,500 $304,400
2016 -- $375,900 $27,500 $348,400
2013 -- $0 $0 $0
2012 -- $301,000 $18,000 $283,000
Source: Public Records

Agents Affiliated with this Home

  • Bill Gearhart

    Seller's Agent in 2022

    Bill Gearhart

    Coldwell Banker Townside

    (540) 989-3311

    1 in this area

    78 Total Sales

    Bill Gearhart
    Section Image

  • N

    Buyer's Agent in 2022

    Non Member Non Member

    Non Member Office

See All Agents

Map

Source: Southwest Virginia Association of REALTORS®

MLS Number: 78896

APN: 000014278003

Virginia Galax City County Galax 24333

308 Armory Rd, Galax, VA

Not Listed for Sale

MultiFamily

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