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    Converted Schoolhouse Multifamily Title is generated by Realmo AI

    751 - 761 OLD CHARLES TOWN Road, Stephenson, VA 22656

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    For Sale
    $515,000

    MULTI_FAMILY - Ranch - STEPHENSON, VA

    Type:Single Family Residence
    Property size:
    1,668 SF
    Lot size:
    5.79 Acres
    Price / SF:
    $308/SF
    Added:
    Feb 16, 2026
    Days on Market:
    108
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for 751 - 761 OLD CHARLES TOWN Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Parking features
    Off Street
    Standard status
    Active
    Size
    1,668 SF
    Lot size
    5.79 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Baseboard, Electric (Heating)

    Building Details

    Year built
    1936
    Number of units
    2
    Building materials
    Stucco
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Kimberly D Hurst

    Listing agent Kimberly D Hurst License #0225241689

    Listing office MarketPlace REALTY 302 S BRADDOCK Street, WINCHESTER, VA

    Listing date Feb 16, 2026

    MLS# VAFV2039574 Listing URL

    Copyright © 2026 Bright 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

    • Former schoolhouse converted into a multifamily property with two 2‑bedroom, 1‑bath apartments
    • Built in 1936 with ranch architectural style
    • 5.7‑acre subdividable lot with space to expand
    • Off‑street parking and stucco construction
    • Baseboard electric heating; property is being sold as‑is with no appliances and no air conditioning

    Overview

    This converted schoolhouse multifamily property features two spacious 2-bedroom, 1-bath apartments. The offering is being sold as-is, with baseboard heat throughout. No appliances or air conditioning are included, creating a blank-canvas setup for a buyer to implement updates and customization to align with their investment plan.

    The property sits on a generous 5.79-acre lot described as subdividable, providing additional space for potential expansion. Set in a rural setting, it offers a country feel where horses and chickens are welcome, supporting both investment use and lifestyle-oriented ownership.

    With two separate residential units already in place, the property may appeal to buyers seeking a small multifamily asset with upside through renovations. The as-is condition and absence of appliances and air conditioning may be best suited for investors or owner-occupants ready to address interior improvements, while the lot configuration can support long-term options for how the site is utilized.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Hotel & Motel Gym & Fitness Center Kitchen & Bath Showroom Storage Facility Garden Center Electrical Service Grocery & Convenience Store Daycare Center Computer & Electronic Repair

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

    Location Insight

    • Map
    • Local Demand
    City
    Stephenson
    County
    Frederick
    State
    Virginia
    Longitude
    -78.09339
    Latitude
    39.22695

    Nearby Similar for Sale

    • $575,000
      1,221 SF

      Three Detached Homes Investment Opportunity

      Three detached homes on one parcel, excellent investment opportunity.
      437, 441, 445 STEPHENSON RD, STEPHENSON, VA 22656
      View Details
    • $1,200,000

      Value-Add Mobile Home Park Opportunity

      Mobile home park with expansion potential near Route 11.
      149 Stephenson Road, STEPHENSON, VA 22656
      View Details

    FAQs

    What type of property is this?
    Duplex - Two 2-bedroom, 1-bath units in a former schoolhouse, sold as-is with update opportunities for investors.
    Where is this duplex located?
    The property is located at 751 - 761 OLD CHARLES TOWN Road Stephenson, VA.
    What is the asking price?
    The asking price for this property is $515,000.
    What are key features of this property?
    This property features: Former schoolhouse converted into a multifamily property with two 2‑bedroom, 1‑bath apartments; Built in 1936 with ranch architectural style; 5.7‑acre subdividable lot with space to expand
    (540) 931-7934
    We can help!
    Listing Contact
    Kimberly D Hurst
    Real Estate License ID: 0225241689
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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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    751 - 761 OLD CHARLES TOWN Road, STEPHENSON, VA 22656
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