$109,950
Martinsville, VA 24112
MLS# 931176
2 beds | 1 baths | 843 sqft
1 / 7
Property Description
Appraised @ $120,000. Tenant-Occupied, Income-Producing Investment Opportunity in Martinsville Turnkey rental property with established tenant and immediate cash flow at 402 College St in Martinsville, VA. This well-maintained investment offers consistent rental income, efficient operating expenses, and strong long-term upside in a market with proven tenant demand. The property is currently tenant occupied, providing investors with instant income from day one--no vacancy, no leasing delays. Its functional layout and low-maintenance features make it ideal for buy-and-hold investors seeking reliable returns and portfolio stability. Conveniently located near downtown Martinsville, employment centers, shopping, and local amenities, this property benefits from a location that supports ongoing rental demand and stable occupancy. This is an excellent opportunity for both new and experienced investors looking to expand their portfolio with a performing asset.
Details
General Property Description
Lot Dimensions: 4256
Property Sub-Type: Single Family Residence
Construction Status: Completed
Residential Type: Detached
Entry Above Grd Fin SQFT: 843
Upper Above Grd Fin SQFT: 0
Other Above Grd Fin SQFT: 0
Total Fnshd SqFt: 843
Total Above Grd Fin SQFT: 843
Grand Total Attached SQFT: 843
Basement Y/N: Yes
Water Class: N/A
Total Unfin SQFT: 0
Prim. Covered Prking: N/A
Add'l Covered Prkng: Not Applicable
Uncovered Parking: Off Street Parking
Uncovered # Spaces: 1
Total Cov'd Prk Spc: 0
Year Built: 1940
Total Bdrm: 2
Total Bths: 1
Total F Baths: 1
Location, Tax & Legal
Major Area: 13 - City of Martinsville
Phase: 0
Lot: 0
Block: 0
Tax ID: 42 (18 )00 /09A
Annual Taxes: 924
Section: 0
POA Y/N: No
Area: 1300 - City of Martinsville
Street Number: 402
Street Direction Pfx: S
Street Name: College
Street Suffix: ST
State/Province: VA
Zip Code: 24112
Subdivision: N/A
Municipality: City of Martinsville
Elementary School: Other - See Remarks
Middle School: Other - See Remarks
High School: Other - See Remarks
Remarks & Misc
Public Remarks: Appraised @ $120,000. Tenant-Occupied, Income-Producing Investment Opportunity in Martinsville Turnkey rental property with established tenant and immediate cash flow at 402 College St in Martinsville, VA. This well-maintained investment offers consistent rental income, efficient operating expenses, and strong long-term upside in a market with proven tenant demand. The property is currently tenant occupied, providing investors with instant income from day one--no vacancy, no leasing delays. Its functional layout and low-maintenance features make it ideal for buy-and-hold investors seeking reliable returns and portfolio stability. Conveniently located near downtown Martinsville, employment centers, shopping, and local amenities,
this property benefits from a location that supports ongoing rental demand and stable occupancy.
This is an excellent opportunity for both new and experienced investors looking to expand their portfolio with a performing asset.
Directions: From downtown Martinsville, take College St to 402 College St. Property on right.
Style of House
1 Story: 1
Cottage: 1
Limited Service
Not Limited Service: 1
Lot Description
Down Slope: 1
Level: 1
Construction
Aluminum: 1
Basement
Dirt Floor: 1
Heating
Forced Air Gas: 1
Cooling
Central Air: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Water Heater Type
Tank: 1
Interior Features
Ceiling Fan(s): 1
Porch
Covered Porch: 1
Front Porch: 1
Appliances
Dishwasher: 1
Microwave Oven (Built In): 1
Range Electric: 1
Refrigerator: 1
Floors
Luxury Vinyl Plank: 1
Primary Bedrooms
Primary BR Entry Lvl: 1
Bedrooms
BR Entry Level: 2
Full Baths
Full Baths Entry Lvl: 1
Laundry
Laundry Entry Level: 1
Contract Information
Current Price: $109,950
List Price: $109,950
List Date: 2026-09-08
Status: Active
Property Features
Style of House: 1 Story; Cottage
Limited Service: Not Limited Service
Lot Description: Down Slope; Level
Construction: Aluminum
Basement: Dirt Floor
Heating: Forced Air Gas
Cooling: Central Air
Interior Features: Ceiling Fan(s)
Appliances: Dishwasher; Microwave Oven (Built In); Refrigerator; Range Electric
Floors: Luxury Vinyl Plank
Porch: Covered Porch; Front Porch
Water Description: Public
Sewer Description: Public Sewer
Water Heater Type: Tank
Listing Office: KEYSTONE REALTY OF ROANOKE LLC
Last Updated: September - 09 - 2026
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