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    34 MAIN ST Wachapreague, VA 23480

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    Claim this Listing
    For Sale
    $199,000

    Fixer Upper,Farmhouse,Eastern Shore Style, Residential - WACHAPREAGUE, VA

    Type:Farm
    Property size:
    1,590 SF
    Price / SF:
    $125/SF
    Added:
    Sep 19, 2025
    Days on Market:
    230
    Last Refresh:
    May 6 at 5:06 pm

    Property Features for 34 MAIN ST

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Dining Room, Kitchen, Living Room, Utility Room
    Parking
    1
    Parking features
    Garage
    Security features
    Security Lighting
    Patio and Porch features
    Patio, Porch
    Interior features
    Smoke Detector, Walk-in Closet(s), Washer/Dryer Hookup, 1st Floor Bedroom, Dining Room
    Exterior features
    Double Pane Windows, Storm Doors, Paved Driveway, Patio, Community Amenities, Open Porch
    Fireplace
    1
    Appliances
    Dishwasher, Dryer, Range, Refrigerator, Washer
    Standard status
    Active
    Size
    1,590 SF

    Taxes and HOA fees

    Tax Annual Amount
    712.78

    Utilities

    Heating system
    Electric (Heating), Fireplace(s), Forced Air, See Remarks (Heating)
    Cooling system
    Ceiling Fan(s), Multi Units, Wall/Window Unit(s), Wall Unit(s)

    Building Details

    Year built
    1960
    Floors in Building
    2
    Flooring type
    Hardwood, Tile, Vinyl
    Building materials
    Wood Siding
    Roof type
    Composition, Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Megan Casher
    Megan Casher

    Listing agent Megan Casher

    Listing office COLDWELL BANKER HARBOUR REALTY 22639 Center Pkwy, Accomac, VA

    Listing date Sep 19, 2025

    MLS# 65192 Listing URL

    Copyright © 2026 Eastern Shore 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

    • Located in the desirable coastal town known as "The Little City by the Sea."
    • Features 3 bedrooms and 2.5 bathrooms.
    • Includes desirable features such as a fireplace, patio, and porch.
    • Equipped with essential appliances: dishwasher, dryer, range, and refrigerator.
    • Offers a blend of hardwood, tile, and vinyl flooring.
    • Includes a garage and paved driveway.

    Overview

    Charming Farmhouse in Wachapreague, VA

    Located in the heart of Wachapreague, known as "The Little City by the Sea," this farmhouse offers a blend of country charm and coastal living. The property features 3 bedrooms, 2 and a half bathrooms, an inviting kitchen, and an attached dining room. The 1,590 square foot property exudes character with rustic touches and woodwork. The layout is practical and cozy, with natural light. The property offers a retreat for enjoying the comfort of a small town while being close to the marina. The property requires some repairs, making it an opportunity for personalization.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Department Store HVAC Service Discount Store (Bike/Boat/Book/etc) Store Restaurant Real Estate Agency Bed & Breakfast Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Wachapreague
    County
    Accomack
    State
    Virginia
    Longitude
    -75.690317
    Latitude
    37.604567

    Nearby Similar for Sale

    • $999,000
      3,000 SF

      Seaside Marina on Delmarva Peninsula

      Marina with 50-60+ slips, restaurant, and refurbishment plans.
      15 ATLANTIC AVE, WACHAPREAGUE, VA 23480
      View Details
    • $299,000
      1,816 SF

      Charming Farmhouse in Wachapreague, VA

      3-bedroom, 2-bath farmhouse in a laid-back Eastern Shore setting.
      38 MAIN ST, WACHAPREAGUE, VA 23480
      View Details

    FAQs

    What type of property is this?
    Farm - Cozy farmhouse with rustic charm in a picturesque coastal town.
    Where is this farm located?
    The property is located at 34 MAIN ST Wachapreague, VA.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: Located in the desirable coastal town known as "The Little City by the Sea."; Features 3 bedrooms and 2.5 bathrooms.; Includes desirable features such as a fireplace, patio, and porch.
    (757) 787-1305
    We can help!
    Listing Contact
    Megan Casher
    Megan Casher
    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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