NOT LISTED FOR SALE

346 E Prospect St Unit & 348 Covington, VA 24426

Covington Area

Estimated Value: $43,000 - $105,000

2 Beds
1 Bath
1,634 Sq Ft
$44/Sq Ft Est. Value

Sale Details

Date Sold: September 12, 2022

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

Est. 104% increase in value since last sale

Current estimated payment $403 / mo

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

Range of Values:

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

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Average Value
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List Price
Sold Price
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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

9,583 Sq Ft Lot

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
May 26, 2022
Closed on
Sep 12, 2022
Sold by
Bought by
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
$71,473

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$36,473
Avg. Annual Appreciation
19.81%

Purchase Details

Closed on
Aug 11, 2015
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Agents Specializing in Covington, VA

  • Katherine Lytle Real Estate Agent - LYTLE REALTY LLC

    Katherine Lytle

    LYTLE REALTY LLC

    (540) 513-5096

    102 Total Sales

    48 in Covington

    $25K - $300K Price Range

    Katherine Lytle
     Section Image

  • JT

    Janie Tyree

    Mountain River Realty

    (540) 516-3926

    147 Total Sales

    95 in Covington

    $12K - $430K Price Range

    Janie Tyree
     Section Image

  • GA

    Greg Alexander

    KW SALEM PROFESSIONALS

    (540) 240-9568

    97 Total Sales

    2 in Covington

    $53K - $200K Price Range

    Greg Alexander
     Section Image
  • Alex Taylor Real Estate Agent - MAC WESTLAND REAL ESTATE GROUP

    Alex Taylor

    MAC WESTLAND REAL ESTATE GROUP

    (540) 792-3330

    129 Total Sales

    9 in Covington

    $20K - $145K Price Range

    Alex Taylor
     Section Image
  • John Smith Real Estate Agent - WEST LAKE REAL ESTATE

    John Smith

    WEST LAKE REAL ESTATE

    (540) 632-4137

    90 Total Sales

    1 in Covington

    $155,000 Price

    John Smith
     Section Image
  • Brandon Black Real Estate Agent - Real Broker, LLC

    Brandon Black

    Real Broker, LLC

    (434) 300-3675

    65 Total Sales

    1 in Covington

    $399,000 Price

    Brandon Black
     Section Image
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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$35,000 --
$65,000 --
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 Real Estate Agent - HIGHLANDS REALTY & ASSOCIATES LLC

    Seller's Agent in 2022

    Monty Bowman

    HIGHLANDS REALTY & ASSOCIATES LLC

    (540) 969-9149

    118 Total Sales

    Monty Bowman
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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

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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