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    Historic Farm Estate with Noteworthy History Title is generated by Realmo AI

    3789 Spring Valley Road, Alderson, WV 24910

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    For Sale
    $399,000

    Farm/Estate, Colonial - Alderson, WV

    Type:Farm
    Property size:
    4,028 SF
    Lot size:
    5.00 Acres
    Price / SF:
    $99/SF
    Added:
    Aug 6, 2025
    Days on Market:
    286
    Last Refresh:
    May 18 at 8:06 pm

    Property Features for 3789 Spring Valley Road

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Parking features
    Garage
    Standard status
    Active
    Size
    4,028 SF
    Lot size
    5.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    738

    Building Details

    Year built
    1840
    Year renovated
    1840
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Richard Grist

    Listing agent Richard Grist

    Listing office Foxfire Realty 1029 Washington Street East, Lewisburg, WV

    Listing date Aug 6, 2025

    MLS# 11590261 Listing URL

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

    HighLights

    • Historic significance: Birthplace of Traveller, General Robert E. Lee's war horse.
    • The "Brick House": A well‑preserved Adam style home dating back to 1840.
    • Remarkable faux grain painting on woodwork in the four main upstairs rooms.
    • Historically low turnover: Only three owners in the past 170 years.
    • Architectural features: Includes curved/polygonal projections and a hipped roof, characteristic of the Adam style.
    • Garage parking.

    Overview

    The historic Brick House, also known as the Hamilton/Johnston/Jarrett/Fleshman Farm, dates back to 1840. The house displays Adam style architectural roots. The once detached kitchen has been incorporated into the house using a breezeway with living space added behind and above the kitchen. The interior shows evidence of style change and renovation. The woodwork in the four main upstairs rooms features faux grain painting. The property has only changed ownership three times in the past 170 years. The Hamilton family built the home circa 1840 and sold it to the Johnston-Jarrett family in 1855. In 1949, the Fleshman family purchased the Brick House and has owned it for 76 years. Thompson Hickman Jarrett, a previous owner, served three terms in the WV Legislature and was Sheriff of Greenbrier County from 1906 to 1912. Traveller, General Robert E. Lee's war horse, was born on this farm in 1857. The property includes 5 acres of land. The main house has 4,028 square feet of living space and is located in Alderson, WV.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Alderson
    County
    Monroe
    State
    West Virginia
    Longitude
    -80.7095
    Latitude
    37.7578

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    FAQs

    What type of property is this?
    Farm - Historic 1840 brick house on 5 acres in Alderson, WV.
    Where is this farm located?
    The property is located at 3789 Spring Valley Road Alderson, WV.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Historic significance: Birthplace of Traveller, General Robert E. Lee's war horse.; The "Brick House": A well‑preserved Adam style home dating back to 1840.; Remarkable faux grain painting on woodwork in the four main upstairs rooms.
    (304) 645-7674
    We can help!
    Listing Contact
    Richard Grist
    Learn More
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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.

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