NOT LISTED FOR SALE

346 E Prospect St Unit & 348 Covington, VA 24426

Estimated Value: $39,000 - $78,000

2 Beds
1 Bath
1,634 Sq Ft
$32/Sq Ft Est. Value

Last Sold September 12, 2022

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

Est. 51% increase in value since last sale

Current estimated payment $300/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
  • RatifiedContractDt: 2022-08-08
  • 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

Schools

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

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
  • FILLTAXID: 11---148---14A & 15A

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
$52,983

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$17,983
Avg. Annual Appreciation
14.53%

Purchase Details

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

Range of Values:

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

Property History

Date Event Price Change Sq Ft Price
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
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

    40 in this area

    130 Total Sales

    Monty Bowman
    Section Image
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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

This home is located at 346 E Prospect St Unit & 348, Covington, VA 24426 since 26 May 2022 and is currently estimated at $52,983, approximately $32 per square foot. This property was built in 1945. 346 E Prospect St Unit & 348 is a home located in Covington City with nearby schools including Jeter-Watson Elementary School, Edgemont Primary School, and Covington High School.

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.

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