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    1012 Whitetop Rd Chilhowie, VA 24319

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    New
    For Sale
    Under Contract
    $415,000

    MULTI_FAMILY - Chilhowie, VA

    Property size:
    2,881 SF
    Lot size:
    0.75 Acres
    Price / SF:
    $144/SF
    Added:
    Apr 27, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 29 at 4:06 am

    Property Features for 1012 Whitetop Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    A/R
    Parking features
    Garage
    Window features
    Insulated Windows
    Interior features
    Cathedral Ceiling(s), Newer Paint
    Fencing
    Fenced
    Fireplace
    1
    Basement
    Crawl Space
    Appliances
    Double Oven, Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer
    Standard status
    Active Under Contract
    Size
    2,881 SF
    Lot size
    0.75 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1661

    Utilities

    Utilities
    Propane
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1992
    Number of units
    2
    Flooring type
    Wood, Tile, Newer floor covering
    Building materials
    Wood Siding, Dry Wall
    Roof type
    Shingle
    Additional Structures
    Guest House

    We can help!

    Listing Contact
    Amy Breedlove

    Listing agent Amy Breedlove

    Listing office eXp Realty 800 Corporate Dr Ste 301, Richmond, VA

    Listing date Apr 27, 2026

    MLS# 105836 Listing URL

    Copyright © 2026 Southwest Virginia 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

    Two Homes, One Property

    This property features two homes on a 0.75-acre lot, offering a combined total of 5 bedrooms and 3.5 bathrooms. The main house is a custom-built, cedar-sided residence with over 2,800 square feet of updated living space. It includes a renovated kitchen with granite countertops, stainless steel appliances, a double oven, and new tile flooring. Newer hardwood floors are present throughout the home. The bathrooms have been updated with stylish tile showers. The layout features a finished den, an attached garage currently used as a playroom, and an open living area with vaulted ceilings and a gas fireplace. Upstairs, there are two additional bedrooms, a full bath, a walk-in closet or storage room, and a bonus/playroom. The second home provides over 1,600 square feet with 2 bedrooms, 1 bath, a large kitchen with stainless appliances, and a living area, featuring hardwood and tile flooring throughout. This home is currently used as a rental and offers potential for Airbnb, a mother-in-law suite, guest home, or additional income. A 2,025 square foot garage offers flexibility for storage, workshop space, or business use. The property also features a fenced backyard, paved driveway, and ample parking for both homes. Located close to town while avoiding town taxes, this property offers space, flexibility, and income potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chilhowie
    County
    Smyth
    State
    Virginia
    Longitude
    -81.6760273
    Latitude
    36.7847397

    Nearby Similar for Sale

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    • $10,000

      Commercial Lot by St Clair Creek

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    • $1,525,000
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      Retail Space For Sale

      9,000 SqFt retail space with 6.40% CAP rate.
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    FAQs

    What type of property is this?
    Duplex - Two homes on one property, ideal for rental income.
    Where is this duplex located?
    The property is located at 1012 Whitetop Rd Chilhowie, VA.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: Two Homes on One Property: Ideal for multi‑generational living, rental income, or guest accommodations.; Main Home: Custom‑built with 2,800+ sq ft, updated kitchen (granite, stainless steel, double oven), updated bathrooms, and newer hardwood floors.; Second Home: 1,600+ sq ft, 2 bedrooms, stainless appliances, currently used as a rental with Airbnb potential.
    (276) 608-3373
    We can help!
    Listing Contact
    Amy Breedlove
    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.

    More about this property
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