1.31 Acres in Farmville, VA - $170,000
Outstanding duplex. Two rented, non-smoking units 3 miles to Longwood University, Hampden-Sydney College, Southside Community Hospital and fire department. Two miles to YMCA, county public schools and interstate access. Town of Farmville convenience without the taxes. This property sits on 1.31 acres with mature pine and oak trees, gravel drive with more than ample parking. It has vinyl siding, architectural shingles, well and septic, 80 gallon well pressure tank, separate electrical meteres for both, electric washer/dryer in each unit. Co-axial cable is one site for hookup. The property has had a Terminix contract for the past two years.
3 BR/2BA – two floor, approximately 1,200 sq. ft. with new carpet, paint, ductwork and heat pump within the past year, covered front porch, storm windows. The second floor is one large room with a ceiling fan and one of the baths. Two bedrooms, bathroo...
3 BR/2BA – two floor, approximately 1,200 sq. ft. with new carpet, paint, ductwork and heat pump within the past year, covered front porch, storm windows. The second floor is one large room with a ceiling fan and one of the baths. Two bedrooms, bathroom, living room and large eat-in kitchen are on the first floor.
2BR/1BA- approximately 800 sq. ft. built in the past 7 years. Wall to wall carpet, new washer, dryer, ceiling fan in the dining area and one of the bedrooms, blinds, double hung insulated windows.
The larger unit is currently rented. Tenant has an 18 month lease at $600.00 per month. The owner lives in the second unit and conveys with the sale on a month to month lease at $500.00. Monthly rentals for comparable properties in the area are approx. $600-$700 for a 3 br/2ba and $550-$600 for a 2 BR/1BA. At the low end this is an 8.1% yearly return on your investment and a 9.1% return at the high end. 80% financing will allow you to service the debt and have positive cash flow at the end of the year. In the alternative, live in one side and use the rental income from the other to help service the mortgage while building equity. This is a win-win situation.
The owner is building a home and currently lives in the smaller unit. He will continue to cut the grass and maintain the landscaping while there and paint that unit when he vacates.
From elevation to owner history
Search for detailed parcel information including; Elevation & Vegetation Maps, Ownership Information, Detailed Parcel Information, Crop History Map, Soil Survey Productivity Data, and more.
Research Parcel InformationDirections
From Farmville take High St. to back Hampden-Sydney Rd. property on left 2 miles.
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