NOT LISTED FOR SALE

346 E Prospect St Unit & 348 Covington, VA 24426

Estimated Value: $44,492 - $109,000

2 Beds
1 Bath
1,634 Sq Ft
$39/Sq Ft Est. Value

Last Sold September 12, 2022

Last sale price $35,000 $21 Per Sq Ft

Est. 84% increase in value since last sale

Current estimated payment $349/month

74 Days on Market

About This Home

As of September 2022

Affordable Duplex with reliable tenants in both units. Call today for complete information and a private showing. This is a great investment opportunity with immediate positive cash flow. Covington City Schools include, Covington High school, Jeter Watson Intermediate School and Edgemont Primary School.

Last Agent to Sell the Property

Monty Bowman

HIGHLANDS REALTY & ASSOCIATES LLC License #0225071506 Listed on: 05/26/2022

Last Buyer's Agent

Monty Bowman

HIGHLANDS REALTY & ASSOCIATES LLC License #0225071506 Listed on: 05/26/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $325

Year Built

  • Built in 1945

Lot Details

  • 9,583 Sq Ft Lot

Home Design

  • Duplex

Interior Spaces

  • 1,634 Sq Ft Home
  • Crawl Space

Parking

  • 2 Parking Spaces
  • On-Street Parking

Utilities

  • No Cooling
  • Heating System Uses Natural Gas
  • Electric Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for deposit, electricity, gas
  • Legal Lot and Block 14 & 15 / 48

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 2 Leased Units
  • Operating Expense $325
  • Gross Income $9,300
  • Net Operating Income $8,975

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$325

Year Built

Built in 1945

Lot Details

0

Listing Details

  • Heating System: Gas - Natural, Other - See Remarks
  • Type: Multi-Family
  • Has Basement: Crawl Space
  • Cooling System: No Cooling System
  • CondoAssocYN: No
  • Internet Access: Cable, DSL
  • InternetAccessCurntInternetProv: Lumos
  • Major Area: 26 - City of Covington
  • NumberLeasedUnits: 2.00
  • NumberUnfurnished: 2.00
  • NumberVehicleSpaces: 2.00
  • Hoa2 Or Poa: No
  • TotalAnnualExpen: 325.00
  • Water Class: N/A
  • Water Heater Energy: Electric
  • YardSign: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement YN: No

Garage/Parking

  • Parking Description: Street

Utilities

  • Sewer Description: Public Sewer
  • Water Description: Public Water
  • Water Heater Type: Tank

Lot Info

  • Lot Dimensions: 75 X 130=9,750 Sq. Ft.
  • Property Group Id: 19990816212116581394000000
  • Total Acreage: 0.22
  • Lot: 14 & 15
  • ZoningCode: R3

Building Info

  • Year Built: 1945

Tax Info

  • Taxes (6 mo): 325.00

Multi Family

  • Tenant Pays: Deposit, Electricity, Gas
  • Units In Building: 2.00
  • Multi Family Type: Duplex

MLS Schools

  • Elementary School: Other - See Remarks
  • HighSchool: Other - See Remarks
  • Middle School: Other - See Remarks

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 26, 2022
Closed on
Sep 12, 2022
Sold by
Edwards William T
Bought by
Lmb Holdings Llc
Seller's Agent
Monty Bowman
HIGHLANDS REALTY & ASSOCIATES LLC
Buyer's Agent
Monty Bowman
HIGHLANDS REALTY & ASSOCIATES LLC
List Price
$42,500
Sold Price
$35,000
Premium/Discount to List
-$7,500
-17.65%
Current Estimated Value
$64,373

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$29,373
Avg. Annual Appreciation
20.42%

Purchase Details

Closed on
Aug 11, 2015
Sold by
Kemper Properties Llc
Bought by
Edwards William T
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Lmb Holdings Llc $35,000 --
Edwards William T $65,000 --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/12/2022 09/12/22 Sold $35,000 -17.6% $21 / Sq Ft
08/08/2022 08/08/22 Pending -- -- --
05/26/2022 05/26/22 For Sale $42,500 -- $26 / 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
2025 $137 $16,100 $4,000 $12,100
2024 $137 $16,100 $4,000 $12,100
2023 $137 $16,100 $4,000 $12,100
2022 $133 $15,700 $4,000 $11,700
2021 $126 $15,700 $4,000 $11,700
2020 $126 $15,700 $4,000 $11,700
2019 $126 $15,700 $4,000 $11,700
2018 $140 $0 $0 $0
2017 $133 $0 $0 $0
2016 -- $17,500 $0 $0
2015 -- $0 $0 $0
2014 -- $0 $0 $0
2013 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Monty Bowman

    Seller's Agent in 2022

    Monty Bowman

    HIGHLANDS REALTY & ASSOCIATES LLC

    (540) 969-9149

    41 in this area

    125 Total Sales

    Monty Bowman
    Section Image
See All Agents

Map

Source: Roanoke Valley Association of REALTORS®

MLS Number: 889912

Roanoke Valley Association of REALTORS®

APN: 011-01-0048-0014A

Virginia Covington City County Covington 24426

346 E Prospect St Unit & 348, Covington, VA

Not Listed for Sale

MultiFamily

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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.

Nearby Homes