120 & 114 N CENTRAL ST, Broadway, VA 22815
- Added:
- Apr 1, 2026
- Days on Market:
- 92
- Last Refresh:
- Jul 1 at 3:06 pm
Property Features for 120 & 114 N CENTRAL ST
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- B-1 Business General
- Standard status
- Pending
- APN
- 51A1-(A)- L73
- Size
- 1,925 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 980
Utilities
- Heating system
- Forced Air, Propane (Heating), Natural Gas
Building Details
- Year built
- 1932
- Flooring type
- Laminate, Carpet, Vinyl
- Roof type
- Metal
Listing agent Theresa Kehm License #0225206508 (540) 433-2454
Listing office Old Dominion Realty Crossroads 4761 Spotswood Trail, Harrisonburg, VA (540) 433-2106
Listing date Apr 1, 2026
Copyright © 2026 Harrisonburg-Rockingham 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
- Two houses on one lot; both currently have long‑term renters on month‑to‑month leases
- Larger 2‑story home: 1,361 SF with 4 bedrooms and 1.5 bathrooms, including living room and eat‑in kitchen
- Smaller dwelling: 564 SF with 2 bedrooms and 1 bathroom, including living room and kitchen with laundry area
- Year built: 1932; metal roof
- Updates include roof painted in 2017 and recently added blown‑in attic insulation
- Additional improvements: insulation added in crawlspace and spray foam under bathroom in 2‑story; replacement windows in 2‑story; new dishwasher and laminate flooring in kitchen
Overview
Both houses are currently occupied by long-term renters on month-to-month leases, supporting an owner-operator or investor who wants to avoid immediate leasing transitions. The property is zoned B-1 Business General.
For buyers looking for a compact multi-house rental structure, the floorplans provide separate bedroom mixes across two dwellings on one lot, with multiple room configurations already in place. Given the month-to-month tenancy and the listed improvements, this is a practical option for those seeking an income-producing residential setup that can be managed as-is.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.6k | $13.80 |
| − Vacancy | −$1.7k | −$0.90 |
| EGI | $24.8k | $12.90 |
| − OpEx | −$7.5k | −$3.87 |
| NOI | $17.4k | $9.03 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Broadway
- County
- Rockingham
- State
- Virginia
- Longitude
- -78.7981522
- Latitude
- 38.6137415
