Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Renovated Duplex for Multifamily Use Title is generated by Realmo AI

    299 Ragland Road, Madison Heights, VA 24572

    View on Map
    Claim this Listing
    New
    For Sale
    $269,900

    MULTI_FAMILY - Madison Heights, VA

    Property size:
    2,039 SF
    Lot size:
    2.94 Acres
    Price / SF:
    $132/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 9:06 am

    Property Features for 299 Ragland Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 2
    Parking features
    Off Street
    Standard status
    Active
    APN
    161-A-36
    Size
    2,039 SF
    Lot size
    2.94 Acres

    Taxes and HOA fees

    Tax Description
    Property Address: 299 RAGLAND RD MADISON HEIGHTS, VA 24572

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump

    Building Details

    Year built
    1998
    Number of units
    2

    We can help!

    Listing Contact
    Callie Reyes

    Listing agent Callie Reyes License #0225273134

    Listing office Mark A. Dalton & Co., Inc. 504 Wyndhurst Dr., Ste. B, Lynchburg, VA

    Listing date Jun 3, 2026

    MLS# 366291 Listing URL

    Copyright © 2026 Lynchburg Virginia MLS. 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 built in 1998 with 4 bedrooms and 2 bathrooms (Bedroom 1–4, Bathroom 1–2)
    • Recent improvements include new siding, new HVAC, deck, fresh paint, and updated flooring
    • Renovated kitchen with new cabinets, countertops, and appliances
    • Updated bathroom featuring a tile shower
    • Heat pump heating and heat pump cooling
    • Off‑street parking

    Overview

    This duplex is configured as two separate units and has undergone recent improvements aimed at improving day-to-day comfort and presentation. Updates include new siding, new HVAC, a deck, refreshed flooring, and fresh paint. Interior renovations also include a renovated kitchen with new cabinets, countertops, and appliances, along with an updated bathroom featuring a tile shower. The overall layout provides distinct living spaces for each unit, supporting either owner occupancy with a rental unit or a straightforward two-unit rental structure.

    Located in Madison Heights in Amherst County, the property offers convenient access to shopping, dining, schools, and local amenities. The listing notes the setting as practical for tenants and residents who want nearby services within reach. Zoning is identified as R2.

    For buyers, this property’s combination of two-unit flexibility and the documented renovation scope can be useful for a household looking to live in one unit while renting the other, or for an investor acquiring a duplex with multiple upgraded components. The updated kitchens, bathrooms, and building systems may reduce near-term turnover friction when preparing units for occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Pharmacy Auto Parts Store Kitchen & Bath Showroom Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison Heights
    County
    Amherst
    State
    Virginia
    Longitude
    -79.113853
    Latitude
    37.419502

    Nearby Similar for Sale

    • $1,100,000
      4,600 SF

      Southern Greek Revival Wedding Venue

      Successful wedding venue and B&B near Lynchburg and Liberty University.
      116 Winridge Drive, Madison Heights, VA 24572
      View Details
    • $385,000
      3,600 SF

      Commercial Property Near Shopping Center

      Commercial property near Walmart and Amelon Square shopping center.
      4123 S Amherst Highway, Madison Heights, VA 24572
      View Details
    • $385,000
      3,600 SF

      Commercial Property Near Shopping Center

      Commercial property with road frontage near Walmart and Amelon Square.
      4123 S Amherst Highway, Madison Heights, VA 24572
      View Details
    • $1,100,000
      4,600 SF

      Southern Greek Revival Estate

      Successful wedding venue and Bed & Breakfast on 3.43 acres.
      116 Winridge Dr., Madison Heights, VA 24572
      View Details
    • $110,000
      1,200 SF

      Office Condo Near Downtown Lynchburg

      1,200 SF office condo minutes from Downtown Lynchburg.
      5066 S Amherst Hwy, Madison Heights, VA
      View Details
    • $110,000
      1,200 SF

      Madison Heights Office Space Available

      Office space for sale in Madison Heights, Virginia.
      5068 S Amherst Hwy, Madison Heights, VA
      View Details

    FAQs

    What type of property is this?
    Duplex - Updated duplex with refreshed interiors and mechanicals, offering flexible owner-occupied or rental income setups.
    Where is this duplex located?
    The property is located at 299 Ragland Road Madison Heights, VA.
    What is the asking price?
    The asking price for this property is $269,900.
    What are key features of this property?
    This property features: Duplex built in 1998 with 4 bedrooms and 2 bathrooms (Bedroom 1–4, Bathroom 1–2); Recent improvements include new siding, new HVAC, deck, fresh paint, and updated flooring; Renovated kitchen with new cabinets, countertops, and appliances
    (434) 237-6267
    We can help!
    Listing Contact
    Callie Reyes
    Real Estate License ID: 0225273134
    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
    299 Ragland Road, Madison Heights, VA 24572
    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!