If you only consider the RAM. and what you can fit into 256KB in monochrome mode:
256 * 1024 = 262,144 bytes of video memory
1 byte of video memory = 8 monochrome pixels
256KB RAM = 262,144 bytes * 8 pixels = 2,097,152 pixels (approx two megapixels)
2048x1024 resolution = 2048 * 1024 = 2,097,152 pixels
Therefore 2048x1024 is one possible resolution that would use every last bit of video memory, in monochrome mode. Another mode which would leave a few bytes unused is 1920x1080, so you could fit a B&W 1080p picture in 256KB of video RAM.
Of course the actual resolution you can get would probably be much lower due to the clock. I'm not sure how it works and whether you could lower the refresh rate enough to get say 1080p within range, so someone else will probably answer that. Chances are even if it's possible, the refresh rate would be too low for a normal monitor to sync to the signal, so you may not be able to see the picture even if it could be generated.
But this does at least put an upper limit on the resolution you can get.