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    Residential Income Property with Two Homes Title is generated by Realmo AI

    3290 Sullivan Road, Boydton, VA 23917

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    For Sale
    $449,000

    SINGLE_FAMILY - Boydton, VA

    Type:Farm
    Property size:
    1,100 SF
    Lot size:
    7.00 Acres
    Price / SF:
    $408/SF
    Added:
    Jun 6, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 6 at 7:06 am

    Property Features for 3290 Sullivan Road

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Zoning
    R2
    Bedrooms
    3
    Bathrooms
    1
    Rooms
    Bedroom 1, Bathroom 1, Bedroom 3, Dining Room, Bedroom 2, Bathroom 2, Basement
    Interior features
    1st Floor Bedroom, Basement, Basement Laundry, Dining Room
    Exterior features
    5-10 Acres, Barn/Stable, Garden Space, Gravel Drive
    Fireplace
    1
    Appliances
    Electric Range, Microwave, Refrigerator, Washer/Dryer
    Standard status
    Active
    APN
    39928
    Size
    1,100 SF
    Lot size
    7.00 Acres

    Utilities

    Sewer type
    Septic Tank
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1965
    Flooring type
    Laminate, Hardwood
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Ranch, Other

    We can help!

    Listing Contact
    Madison Howle

    Listing agent Madison Howle

    Listing office Oak River Realty 413 VIRGINIA AVE STE C, Clarksville, VA

    Listing date Jun 6, 2026

    MLS# 73178 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

    • Two homes on 7 acres with each home individually subdivided and recorded with the county for flexible use
    • Original brick ranch (c. 1,100 SF) offers 3 bedrooms and 1.5 baths, with attached carport and full cellar
    • Second custom‑built cabin (c. 700 SF) completed about two years ago offers 1 bedroom and 1 spacious bath, plus included appliances
    • Each home has its own well and septic system
    • Both homes have tenants in place; leases end in September
    • Amenities include two barns, round pen, enclosed chicken pen, gravel drive, fruit trees, and mature oak trees

    Overview

    This property offers a residential income setup with two separate homes on one parcel, both individually subdivided and recorded with the county. The original brick ranch is approximately 1,100 square feet and includes 3 bedrooms and 1.5 baths, custom library shelving, a propane fireplace, a full cellar, and an attached carport. The second home is a custom-built cabin completed about two years ago, offering approximately 700 square feet with 1 bedroom and a spacious 1-bath layout, custom tile work, upgraded finishes, and included appliances.

    Both homes have their own well and septic system. The property is located in Boydton, Virginia (Mecklenburg County) and is described as being just minutes from Kerr Lake and downtown Clarksville. Zoning is listed as R2. Current tenants are in place, with leases ending in September. Outdoor amenities include two barns, a round pen, dry lot, enclosed chicken pen, fruit trees, and mature oak trees, along with Amish-built pasture fencing installed less than two years ago.

    For buyers or operators seeking flexibility, the separate, recorded residences support multiple living arrangements such as rental use, multigenerational living, or guest accommodations. The rear of the property borders Army Corps land, and the overall setting is positioned to provide a private country feel alongside practical income-readiness while leases remain in effect.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Bowman Barnyard Food Processing Plant

    Map

    City
    Boydton
    County
    Mecklenburg
    State
    Virginia
    Longitude
    -78.4585715
    Latitude
    36.6180241

    FAQs

    What type of property is this?
    Farm - Two separate residences on one parcel, each with its own well and septic, plus barns and pasture amenities.
    Where is this farm located?
    The property is located at 3290 Sullivan Road Boydton, VA.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Two homes on 7 acres with each home individually subdivided and recorded with the county for flexible use; Original brick ranch (c. 1,100 SF) offers 3 bedrooms and 1.5 baths, with attached carport and full cellar; Second custom‑built cabin (c. 700 SF) completed about two years ago offers 1 bedroom and 1 spacious bath, plus included appliances
    (434) 774-4767
    We can help!
    Listing Contact
    Madison Howle
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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.

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