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    2245 Saltville Hwy Saltville, VA 24370

    Sponsored
    For Sale
    $169,999

    MULTI_FAMILY - Ranch - Saltville, VA

    Type:Single Family Residence
    Property size:
    1,820 SF
    Lot size:
    1.62 Acres
    Days on Market:
    19
    Last Refresh:
    Feb 22 at 8:06 am

    Property Features for 2245 Saltville Hwy

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Standard status
    Active
    Zoning
    Residential
    Rooms
    Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 4, Basement, Bedroom 2
    Bedrooms
    5
    APN
    29a-1a-1 099252
    Patio and Porch features
    Patio, Porch
    Interior features
    Eat-in Kitchen, Kitchen Island, Laminate Counters
    Fireplace
    1
    Basement
    Unfinished, Full
    Size
    1,820 SF
    Lot size
    1.62 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central, Heat Pump (Heating)
    Cooling system
    Heat Pump, Central Air
    Water source
    Public

    Building Details

    Year built
    1957
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Hardwood, Laminate, Vinyl
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Savannah Huffard

    Greater Kingsport Realty (423) 433-6500

    Listing agent Savannah Huffard (276) 780-8390 License #372127, 0225267997

    Listing date Feb 4, 2026

    MLS# 9989593 Listing URL

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. 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

    Versatile Ranch with Income Potential

    Located in Saltville, this property includes a main home and an apartment, offering both living space and income potential. The main home spans 1,820 square feet and features 3 bedrooms, 2 bathrooms, and a bonus space suitable for a home office or hobby room. Updates have been made, while still allowing for personalization. A full basement with a sump pump is included, and the roof and HVAC system were installed around 2015. The property also features a 2-bedroom, 1-bathroom apartment above the 2-car garage, currently rented for $350 per month. The long-term tenants have occupied the property for over 28 years. Electric is separately metered, with water shared. The apartment could continue as a rental, be converted into an in-law suite, or reimagined as a hunting or fishing Airbnb. The property sits on nearly 2 acres, extending up the mountainside, offering privacy and possibilities such as a hunting parcel or future home site. With road frontage and access to the North Fork of the Holston River, outdoor recreation is easily accessible. Additional features include low county-only taxes, public water, and a septic system. The property is conveniently located with access to Saltville, Tannersville, and Chilhowie.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Auto Repair Shop Discount Store Daycare Center (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Saltville
    County
    Smyth
    State
    Virginia
    Longitude
    -81.721913
    Latitude
    36.910542

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    FAQs

    What type of property is this?
    Single family property - Saltville property featuring a main home and rental apartment.
    Where is this single family property located?
    The property is located at 2245 Saltville Hwy Saltville, VA.
    What is the asking price?
    The asking price for this property is $169,999.
    What are key features of this property?
    This property features: - Income-generating apartment: Above-garage apartment currently rented for $350/month with long-term tenants, offering immediate income potential.; - Nearly 2 acres of land: Property includes land extending up the mountainside, offering privacy and potential for hunting or future development.; - Main home with flexible bonus space: 1,820 sq ft home with 3 bedrooms, 2 bathrooms, and a bonus space suitable for a home office or studio.
    (276) 780-8390
    Request Owner's contact information
    2245 Saltville Hwy Saltville, VA 24370
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    Saltville, VA 24370
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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
    2245 Saltville Hwy Saltville, VA 24370
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    We can help!
    Listing Contact
    Savannah Huffard
    Real Estate License ID: 372127, 0225267997
    (276) 780-8390
    Learn more
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