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Grottoes 24441
206 3rd Street
$279,000
● House - Off Market

206 3rd Street

Grottoes, VA 24441
bedrooms
4 Beds
bathrooms
2 Baths, 1 Half Bath
$1,437
Est. Monthly
10.31%
Cap Rate

About This Property

Flat yard and mature landscaping. Traditional cape cod featuring 2 bedrooms on first floor with full bath and 2 bedrooms with half bath on the 2nd floor.
Unit Size
-
Days on Market
144 days
Land Size
0.28 acres
Price per sqft
-
Property Type
House
Property Taxes
$17
HOA Dues
-
Year Built
1994

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (CVRMLS #2426977)

Price History

Date / Event Date Event Price
Mar 7, 2025 Sold
Premium
Sold
Feb 5, 2025 In contract -
In contract
Dec 25, 2024 Price Decreased $289,000
↓ $6K (2%)
Price Decreased
Oct 13, 2024 Listed by Homecoin.com $295,000
Listed by Homecoin.com
Aug 27, 2022 No longer available -
No longer available
Show More

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1994
  • Effective Year Built: 1994
  • Total Rooms: 5
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 23
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 3
  • Floor Count: 150
  • Floor Cover: 9
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 8
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,979
  • Total Building Area: 1,440
  • Building Area: 1,440
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 8
  • Heated Square Feet: 1,440
  • Heating Fuel Type: 2

    Utilities

  • Sewer System: 4
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CHERRY AVENUE
  • Land Acres: 0000000275
  • Standard Land Use Code: 1001
  • County Land Use Code: SD
  • Legal Description 1: L 14 B 29

Neighborhood

  • School District Name: Rockingham County Public Schools
  • Census Tract: 012000

Zoning

  • Zoning: TOWN

Geography

  • Account Number: 36792
  • District: 7
  • Parcel: 160D3-(1)-B 29 L14
  • Lot: 14
  • Municipality: GROTTOES
  • Latitude: 38.2627
  • Longitude: -78.826

    Address

  • Full Address: 206 3rd St
  • Address - House Number: 206
  • Address - Street Name: 3rd
  • Address - Suffix Type: St
  • State: VA
  • City Name: Grottoes
  • Carrier Code: R004
  • 4-Digit Zip Code: 2601
  • Zip Code: 24441

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $134,776

    Appraisal Valuation

  • Standard Deviation: 0.2025
  • Valuation Date: Jun 07, 2023
  • Confidence Score: 72
  • Final Value: 279,462
  • High Value: 336,081
  • Low Value: 222,843

    Market Valuation

  • Market Total Value: $198,200
  • Market Land Value: $32,000
  • Market Improvement Value: $166,200

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $198,200
  • Assessed Land Value: $32,000
  • Assessed Improvements Value: $166,200

    Sales

  • Current Sale Contract Date: Aug 17, 2022
  • Current Sale Recording Date: Aug 22, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 20999
  • Previous Sale Recording Date: Jul 07, 2020
  • Previous Sale Contract Date: Jun 23, 2020
  • Previous Sale Amount: $219,000
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Grottoes

Stats & Trends

Median Asking:

$315,000

Sale Price/ft²

$236

Below Asking

0.02%

Average Days on Market

56

Average Home Size

1691 ft²

Average Home Age

74 years

Currently For Sale

1 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 776 Carson Circle, GROTTOES, VA, 24441

$1,799 /mo

  • 3 Beds
  • 2 Baths
  • 1,220 ft²
776 Carson Circle, GROTTOES, VA, 24441 Listing by rajesh cheruku

Rentals Near You

Click here to view more rentals in the neighborhood.
CVR

Listed by: Jonathan Minerick, Homecoin.com
Last Updated: 2 years ago
Data Source: CVRMLS , MLS# 2426977
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Courtesy First Choice Realty.
Courtesy of RH Advisors, Inc. and RHP Realty NJ, Inc. CalDRE: 00494703

Frequently Asked Questions

When was property at 206 3rd Street built and last sold?
The property at 206 3rd Street was built in 1994 and last sold on Aug 17, 2022 for $270,000.
How much is this home worth?
The estimated value of the home located at 206 3rd Street is $0.
What are some comparable homes to 206 3rd Street?
There are currently no comparable homes to 206 3rd Street.
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