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    81-302 Duplex Ln Ararat, VA 24053

    For Sale
    $1,650,000

    Multi-Family - Ararat, VA

    Type:Multi Family
    Days on Market:
    346
    Last Refresh:
    Dec 10 at 1:06 am

    Property Features for 81-302 Duplex Ln

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Active

    Building Details

    Year built
    1971
    Floors in Building
    1
    Architectural style
    Other

    Blue Ridge Mountain Real Estate, LLC (276) 952-5008 [email protected]

    Listing agent Edd Martin (276) 694-5002

    Listing date Dec 30, 2024

    MLS# 141773 Listing URL

    Copyright © 2025 Martinsville, Henry, Patrick Counties 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.

    Overview

    Multi-Family Investment Opportunity in Ararat

    Located in the Ararat community of Patrick County, Virginia, this multi-family property presents an investment opportunity, situated minutes from Mt. Airy, North Carolina. The property features three brick ranch homes and 16 duplexes. Each unit is equipped with a range, refrigerator, washer, and dryer. In 2020, all units received new roofs and gutters, along with updated heat pumps and other improvements. The three brick ranch homes each feature three bedrooms. The duplexes include four three-bedroom units, eleven two-bedroom units, and one one-bedroom unit. The location is within walking distance of Blue Ridge Elementary School and Dan River Park. The property spans over 16 acres, offering space for future expansion.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Food Market Grocery Store Computer & Electronic Repair Pawn Shop Tech Support Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ararat
    County
    Patrick
    State
    Virginia
    Longitude
    -80.5113812
    Latitude
    36.6016995

    FAQs

    What type of property is this?
    Multifamily property - Multi-family property with homes and duplexes near Mt. Airy, NC.
    Where is this multifamily property located?
    The property is located at 81-302 Duplex Ln Ararat, VA.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: - Portfolio of 19 rental units (3 ranch homes and 16 duplexes) offers immediate income potential.; - Excellent location within walking distance of Blue Ridge Elementary School and Dan River Park.; - Proximity to Mt. Airy, NC, provides convenient access to city amenities.
    (276) 694-5002
    Request Owner's contact information
    81-302 Duplex Ln Ararat, VA 24053
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    Ararat, VA 24053
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    Realmo Value Estimation

    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.

    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.

    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
    81-302 Duplex Ln Ararat, VA 24053
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