5164 N Blue Ridge Turnpike Madison, VA 22727
Estimated payment $3,339/month
Total Views
1,170
4
Beds
2
Baths
2,866
Sq Ft
$204
Price per Sq Ft
Highlights
- Very Popular Property
- View of Trees or Woods
- Colonial Architecture
- In Ground Pool
- Curved or Spiral Staircase
- Private Lot
About This Home
The Olive Mill House is a beautifully preserved Four-over-Four colonial farmhouse in the heart of Banco, Virginia. Originally a Sears Kit Home, it was delivered by train to Orange, VA, then transported to Banco and assembled on site. Built nearly a century ago, the home was added to the property by the Tysinger family, who operated the Olive Mill—grinding cornmeal just steps away. This 4-bedroom, 2-bath home rests on 2.4 total acres (two parcels) and has gracefully stood the test of time, retaining its original hardwood floors, front and rear staircases, high ceilings, and welcoming porches. Historic charm is found in every detail—from the antique doors and intricate moldings to the portrait rails and beautiful woodwork. Over the years, the Olive Mill House has served not only as a family residence, but also as a bed & breakfast, offering guests a taste of Madison County’s rich history. Outdoors, you’ll find a backyard in-ground pool—perfect for summer gatherings—set against the backdrop of one of Virginia’s most picturesque regions. The home is located on a Virginia Scenic byway, close to White Oak Falls, Old Rag, and Graves Mtn Lodge. This rare find combines historic craftsmanship with modern comfort, making it a truly special place to call home. Property will be active on the market on Sept 3rd , 2025. Three Bedroom Septic.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $2,189
Year Built
- Built in 1928
Lot Details
- 2.48 Acre Lot
- Rural Setting
- Stone Retaining Walls
- Landscaped
- Private Lot
- Secluded Lot
- Open Lot
- Sloped Lot
- Backs to Trees or Woods
- Back and Side Yard
- Property is in very good condition
- Property is zoned A1FP
Parking
- Driveway
Property Views
- Woods
- Mountain
Home Design
- Colonial Architecture
- Plaster Walls
- Metal Roof
- Wood Siding
- Concrete Perimeter Foundation
Interior Spaces
- 2,866 Sq Ft Home
- Property has 2 Levels
- Traditional Floor Plan
- Curved or Spiral Staircase
- Dual Staircase
- Built-In Features
- Ceiling Fan
- Gas Fireplace
- Double Hung Windows
- Family Room
- Living Room
- Formal Dining Room
- Wood Flooring
Kitchen
- Eat-In Country Kitchen
- Electric Oven or Range
- Dishwasher
Bedrooms and Bathrooms
- 4 Bedrooms
- En-Suite Primary Bedroom
- Walk-in Shower
Laundry
- Laundry on main level
- Electric Dryer
- Washer
- Laundry Chute
Pool
- In Ground Pool
- Fence Around Pool
Schools
- Waverly Yowell Elementary School
- William Wetsel Middle School
- Madison County High School
Utilities
- Window Unit Cooling System
- Electric Baseboard Heater
- Well
- Electric Water Heater
- On Site Septic
Additional Features
- Chairlift
- Outbuilding
Community Details
- No Home Owners Association
Listing and Financial Details
- Tax Lot 5
- Assessor Parcel Number 30 -5 AND 30-2C
Map
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Home Values in the Area
Average Home Value in this Area
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 | $2,051 | $277,200 | $60,600 | $216,600 |
| 2023 | $2,051 | $277,200 | $60,600 | $216,600 |
| 2022 | $2,051 | $277,200 | $60,600 | $216,600 |
| 2021 | $2,051 | $277,200 | $60,600 | $216,600 |
| 2020 | $1,968 | $277,200 | $60,600 | $216,600 |
| 2019 | $1,410 | $277,200 | $60,600 | $216,600 |
| 2018 | $1,410 | $207,300 | $61,600 | $145,700 |
| 2017 | $1,410 | $207,300 | $61,600 | $145,700 |
| 2016 | -- | $207,300 | $61,600 | $145,700 |
| 2015 | -- | $207,300 | $61,600 | $145,700 |
| 2014 | -- | $207,300 | $61,600 | $145,700 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/02/2025 09/02/25 | For Sale | $584,000 | -- | $204 / Sq Ft |
Source: Bright MLS
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $100,000 | Credit Line Revolving | |
| Closed | $100,000 | Stand Alone Refi Refinance Of Original Loan | |
| Closed | $30,000 | Credit Line Revolving |
Source: Public Records
Similar Homes in Madison, VA
Source: Bright MLS
MLS Number: VAMA2002392
APN: 30-5
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