Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    125 Acres Mountain Retreat Land Title is generated by Realmo AI

    2047 Old Horse Mountain Road, Covington, VA 24426

    View on Map
    Claim this Listing
    For Sale
    $622,500

    LAND - Covington, VA

    Lot size:
    125.00 Acres
    Added:
    Oct 10, 2025
    Days on Market:
    219
    Last Refresh:
    May 16 at 7:06 am

    Property Features for 2047 Old Horse Mountain Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    AR
    Standard status
    Active
    APN
    05800-02-000-0060
    Lot size
    125.00 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Mathew Seldomridge

    Listing agent Mathew Seldomridge

    Listing office United Country Virginia Realty P.O. Box 655 405 Virginia Avenue, Clarksville, VA

    Listing date Oct 10, 2025

    MLS# 71518 Listing URL

    Copyright © 2026 Southern Piedmont Land & Lake 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

    • 125 Acres of Forested Wilderness: Offers unparalleled privacy and a connection to nature.
    • Breathtaking Mountain and Valley Views: Provides a stunning backdrop.
    • Custom‑Crafted Home: A beautifully designed residence.
    • Private Access to 1300+ Acres for Recreation: Expansive recreational opportunities.
    • Private Access to the Jackson River: Exclusive access for enjoying the river.
    • Quiet and Secluded: Ensures peace and tranquility.

    Overview

    This private mountain retreat encompasses 125 acres of natural forested land. A custom home is situated on the property, offering views of the surrounding mountains and valleys. The property provides privacy and seclusion. It features private access to over 1300 acres for recreation and to the Jackson River. Located a short drive from the interstate and town, the property offers an abundance of wildlife.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Covington
    County
    Covington
    State
    Virginia
    Longitude
    -79.934052
    Latitude
    37.762138

    Nearby Similar for Sale

    • $399,900
      6,470 SF

      Downtown Covington Commercial Landmark

      Remodeled 6,400 sq ft commercial space with endless possibilities.
      201 N Court Ave, Covington, VA 24426
      View Details
    • $175,000
      3,500 SF

      Unique Covington Commercial Building

      3,500 SF commercial building with office conversion potential.
      418 N Beverly Ave, Covington, VA 24426
      View Details
    • $1,299,999

      Prime Commercial Property Near I-64

      High-visibility commercial property suitable for various business operations.
      912 VALLEY RIDGE RD, COVINGTON, VA 24426
      View Details
    • $325,000
      3,743 SF

      Covington Commercial Building with Character

      1920s building with original features and unlimited potential uses.
      228 N Maple Ave, Covington, VA 24426
      View Details
    • $1,299,999
      8,300 SF

      Land

      912 VALLEY RIDGE RD, Covington, VA 24426
      View Details
    • $750,000
      3,720 SF

      Restaurant Building in Covington, VA

      3,720 SF restaurant building with complete kitchen and furniture.
      415 Thacker Ave, Covington, VA 24426
      View Details
    • $1,700,000

      Development Land Along I-64 Corridor

      68.5 acre development property with high visibility along I-64.
      1000 Irvine Farm Road, Covington, VA 24426
      View Details
    • $229,999

      Covington Commercial Investment Opportunity

      Two commercial buildings with potential for mechanic shop or apartments.
      803 S Lexington Ave, Covington, VA 24426
      View Details

    FAQs

    What type of property is this?
    Recreation land - Private mountain retreat with breathtaking views and abundant wildlife.
    Where is this recreation land located?
    The property is located at 2047 Old Horse Mountain Road Covington, VA.
    What is the asking price?
    The asking price for this property is $622,500.
    What are key features of this property?
    This property features: 125 Acres of Forested Wilderness: Offers unparalleled privacy and a connection to nature.; Breathtaking Mountain and Valley Views: Provides a stunning backdrop.; Custom‑Crafted Home: A beautifully designed residence.
    (540) 968-1097
    We can help!
    Listing Contact
    Mathew Seldomridge
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2047 Old Horse Mountain Road, Covington, VA 24426
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!