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    The Largest CRE Database in the US with Over 1 Million Listings

    119 Ralls Apple Ln Madison Heights, VA 24572

    Sponsored
    For Sale
    $739,000

    Single Family Residence, Cape Cod,Farm House - Madison Heights, VA

    Type:Farm
    Property size:
    4,789 SF
    Lot size:
    1.01 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 5 at 5:06 pm

    Property Features for 119 Ralls Apple Ln

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Spa
    1
    Zoning
    A1
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Great Room, Gym, Kitchen, Laundry, Office
    Bedrooms
    4
    Bathrooms
    4
    Parking
    2
    Patio and Porch features
    Patio, Porch
    Interior features
    Ceiling Fan(s), Pantry, Tile Bath(s), Walk-in Closet(s)
    Exterior features
    Off-Street Parking, Patio, Front Porch, Rear Porch, Paved Drive, Concrete Drive, Fenced Yard, Privacy Fence, Hot Tub, Insulated Glass, Mountain Views
    Fencing
    Fenced, Privacy
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer, Microwave, Range, Range - Gas, Refrigerator, Washer
    Size
    4,789 SF
    Lot size
    1.01 Acres

    Utilities

    Cooling system
    Central Air, Ductless, Electric

    Building Details

    Year built
    2020
    Floors in Building
    1.5
    Flooring type
    Engineered Wood, Hardwood, Tile, Vinyl, Wood
    Building materials
    Brick, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Cape Cod

    We can help!

    Listing Contact
    Monica D Wiley

    John Stewart Walker, Inc. (434) 385-6655

    Listing agent Monica D Wiley (434) 385-6655 License #0225033324

    Listing date Feb 4, 2026

    MLS# 364322 Listing URL

    Copyright © 2026 Lynchburg Virginia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Like-New Home on One Acre

    This like-new custom home, constructed in 2020, offers approximately 4,789 finished square feet of living space on a one-acre lot. Located in Fox Briar, the property provides mountain views. The main level features a primary suite with a walk-in closet and direct access to the first-floor laundry, along with two additional bedrooms and a full bath. The two-story living room includes a stone fireplace and opens to a covered, two-level stamped concrete patio with a hot tub. The backyard is newly fenced and includes a new storage building. The gourmet kitchen is equipped with a granite island, six-burner gas range, butler's pantry with wine refrigerator and coffee bar, and an oversized walk-in pantry. The finished basement, accessible from both the interior and exterior, features a living area with a gas fireplace, a fourth bedroom and full bath, roughed-in kitchenette plumbing, a fitness room, and storage space. A bonus room above the oversized two-car garage is suitable for an office or crafts. The property includes a wired generator, hot tub, Murphy bed, and most appliances. The zoning is A1. The property is a single-family residence, Cape Cod, and Farm House style.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Restaurant Real Estate Agency Bed & Breakfast Restaurant Catering Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Madison Heights
    County
    Amherst
    State
    Virginia
    Longitude
    -79.157475
    Latitude
    37.487326

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    FAQs

    What type of property is this?
    Specialty property - Custom 2020 home with mountain views and modern amenities.
    Where is this specialty property located?
    The property is located at 119 Ralls Apple Ln Madison Heights, VA.
    What is the asking price?
    The asking price for this property is $739,000.
    What are key features of this property?
    This property features: - Like-new custom home built in 2020 with approx. 4,789 finished sq ft on a one-acre lot with mountain views.; - Main-level primary suite features a walk-in closet and direct access to first-floor laundry.; - Gourmet kitchen boasts a granite island, six-burner gas range, butler's pantry with wine refrigerator and coffee bar, and oversized walk-in pantry.
    (434) 435-0027
    Request Owner's contact information
    119 Ralls Apple Ln Madison Heights, VA 24572
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    Madison Heights, VA 24572
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    119 Ralls Apple Ln Madison Heights, VA 24572
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    We can help!
    Listing Contact
    Monica D Wiley
    Real Estate License ID: 0225033324
    (434) 435-0027
    Learn more
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