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    Duplex with Two 2BR Units Title is generated by Realmo AI

    617 Rose Avenue, Clifton Forge, VA 24422

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    Claim this Listing
    Pending
    $39,500

    MULTI_FAMILY - Clifton Forge, VA

    Property size:
    2,412 SF
    Lot size:
    0.17 Acres
    Added:
    Feb 19, 2026
    Days on Market:
    104
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for 617 Rose Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Size
    2,412 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    C F CO 24-6-1 617 ROSE AVE DB 73/57, Parcel # 11700-01-106-0240, 11700-01-106-0230, 11700-01-106-022A
    Tax Annual Amount
    200

    Building Details

    Floors in Building
    2
    Number of units
    2

    We can help!

    Listing Contact
    Benny Hagy
    Benny Hagy

    Listing agent Benny Hagy License #225062724

    Listing office RE/MAX 8 - Blacksburg 1344 N Main St., Blacksburg, VA

    Listing date Feb 19, 2026

    MLS# 426405 Listing URL

    Copyright © 2026 New River Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Duplex with two 2‑bedroom, 1‑bath units
    • Roof is approximately 13 years old
    • Hot water heater is approximately 2 years old
    • HVAC is approximately 13 years old

    Overview

    This duplex includes two separate 2-bedroom, 1-bath units. The property totals 2,412 square feet and sits on a 0.17-acre lot. Reported building improvements include a roof approximately 13 years old, an approximately 2-year-old hot water heater, and an HVAC system approximately 13 years old.

    The property is located at 617 Rose Avenue in Clifton Forge, Virginia, within Alleghany County. The address provides straightforward access for showings and ongoing property management.

    For buyers seeking a straightforward residential income property, this two-unit configuration can support rental flexibility with each unit offering a similar layout. The documented age of the roof, hot water heater, and HVAC may help you plan near-term maintenance and budgeting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Clifton Forge
    County
    Alleghany
    State
    Virginia
    Longitude
    -79.828062
    Latitude
    37.820255

    Nearby Similar for Sale

    • $1,495,000

      Historic Mansion Inn For Sale

      Stunning historic property with B&B potential in Clifton Forge, VA.
      1100 Mccormick Blvd, Clifton Forge, VA 24422
      View Details
    • $39,500

      Clifton Forge Duplex Opportunity

      Duplex in Clifton Forge with two units. Sold AS/IS.
      617 Rose Ave, Clifton Forge, VA 24422
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex offering two 2-bedroom, 1-bath units with recent major system updates.
    Where is this duplex located?
    The property is located at 617 Rose Avenue Clifton Forge, VA.
    What is the asking price?
    The asking price for this property is $39,500.
    What are key features of this property?
    This property features: Duplex with two 2‑bedroom, 1‑bath units; Roof is approximately 13 years old; Hot water heater is approximately 2 years old
    (540) 392-3792
    We can help!
    Listing Contact
    Benny Hagy
    Benny Hagy
    Real Estate License ID: 225062724
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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
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