2220 Garfield Ave · Lynchburg, VA 24501

$120,000

3 bd · 1.0 ba · 1,720 sqft · SingleFamily public records · 28 Days on market

Built 1901 Est $158k · 24% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Livability +4.5/5.0
• Schools +4.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home located directly in front of college dormitory. Attention Investors Or First Time Home Buyers: Very nice 3BR/2BA home located near Virginia University of Lynchburg on the Hill. This home would make a great starter home or turn-key rental! Home offers , newly installed leaf filter gutters, big kitchen, large dinning room , unfinished basement , unfinished sunroom , nice laminate flooring, ceramic tile and much more! Not to mention this home is located in the heart of the city with easy access to 29, 460, shopping and restaurants. Needs outdoor minor roof repairs done, perfect for investors or for someone who flips properties .

Key facts

• Built 1901
• Listed 27 days

Property features AI

Exterior

• Home design: Built in 1901; Single-family residence
• Construction: Approximately 1600 square feet of living area
• Exterior features: Located in the Campbell subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 4.0% in Lynchburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 91/100 on livability (#1 in VA, #58 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-, employment D+.
• Lynchburg City Public School District (urban): math 36% / reading 61% proficiency, ranked #104 of 131 in VA (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.1%/yr); 216 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 472 units permitted in Lynchburg city in 2024 (240 in 5+ unit buildings).
• This rent runs 44% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lynchburg County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.16%
• DSCR: 1.72
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $158,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1706 Shaffer St	0.40mi	3/2.0	1,702 (-1%)	16mo	$25,000	$15	62
2326 Cobbs St	0.26mi	4/2.5 (+1)	1,920 (+12%)	5mo	$240,000	$125	53
1531 Augusta St. St	0.53mi	3/1.0	1,513 (-12%)	4mo	$192,000	$127	52
2402 Fairview Ave	0.58mi	4/1.0 (+1)	1,609 (-6%)	9mo	$130,000	$81	50
1822 Pocahontas St	0.68mi	2/1.5 (-1)	1,906 (+11%)	2mo	$195,000	$102	41
1702 15th St	0.51mi	2/1.0 (-1)	1,477 (-14%)	8mo	$73,000	$49	41
1434 Augusta St	0.62mi	3/2.0	1,976 (+15%)	2mo	$182,000	$92	41
2329 Fort Ave	0.70mi	3/1.5	1,908 (+11%)	8mo	$75,000	$39	40
2335 Easley Ave	0.44mi	2/1.0 (-1)	1,473 (-14%)	13mo	$54,200	$37	40
1603 Taylor St	0.68mi	3/1.5	1,948 (+13%)	6mo	$90,500	$46	40
3311 Campbell Ave Ave	0.72mi	4/2.0 (+1)	1,525 (-11%)	2mo	$207,000	$136	37
3213 Campbell Ave	0.66mi	4/2.0 (+1)	1,524 (-11%)	12mo	$241,000	$158	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.15% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.20×
• Total profit: $6,556
• Equity at exit: $17,892

10-year hold

• IRR: 12.9%
• Equity multiple: 1.94×
• Total profit: $31,670
• Equity at exit: $10,375

Cash invested: $33,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 24501

• Rents YoY: 1.1%
• Active inventory: 216
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,531 high
• Mortgage (P&I): −$629
• Tax from tax record: −$78 /mo · $931/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $453

Break-even live

Break-even rent $958

Max offer price $120,000

Occupancy floor 65%

Sensitivity live

Price	-10% $520	-5% $486	+0% $453	+5% $419	+10% $385
Rent	-10% $332	-5% $392	+0% $453	+5% $513	+10% $573
Rate	-1.0pp $513	-0.5pp $483	base $453	+0.5pp $421	+1.0pp $390

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2518 Carter St Lynchburg, VA	3.0	2.0	1091	$1,500	$1.37	44d	1	0.28mi
2269 Aragon St Lynchburg, VA	3.0	2.0	1200	$1,695	$1.41	44d	1	0.36mi
710 Grady St Unit B Lynchburg, VA	2.0	1.0	1872	$795	$0.42	14d	1	0.43mi
1401 Kemper St Lynchburg, VA	2.0–3.0	2.0	1118	$1,167	$1.04	22d	6	0.55mi
1518 Fillmore St Lynchburg, VA	3.0	2.5	1560	$1,800	$1.15	14d	1	0.55mi
1514 Fillmore St Lynchburg, VA	3.0	2.5	1560	$1,800	$1.15	14d	1	0.56mi
1308 16th St Lynchburg, VA	3.0	2.0	1380	$1,800	$1.30	14d	1	0.59mi
1415 Floyd St Lynchburg, VA	3.0	2.0	1300	$1,800	$1.38	22d	1	0.63mi
1219 Pierce St Unit 1221 Lynchburg, VA	2.0	1.0	1168	$825	$0.71	14d	1	0.66mi
1521 Taylor St Lynchburg, VA	3.0	1.0	1337	$1,195	$0.89	22d	1	0.67mi
2734 Fort Ave Lynchburg, VA	1.0–2.0	1.0–2.0	875	$1,450	$1.66	44d	1	0.69mi
1701 Grace St Lynchburg, VA	4.0	2.0	2173	$1,495	$0.69	14d	1	0.78mi
1105 Fillmore St Unit B Lynchburg, VA	3.0	1.0	1300	$1,250	$0.96	44d	1	0.78mi
320 Kenyon St Lynchburg, VA	3.0	2.0	1736	$1,595	$0.92	44d	1	0.80mi
403 Grove St Lynchburg, VA	3.0	2.0	1400	$1,600	$1.14	44d	1	0.82mi
1110 11th St Lynchburg, VA	3.0	1.5	2000	$1,450	$0.72	14d	1	0.92mi
216 Kenyon St Lynchburg, VA	2.0	1.0	1114	$995	$0.89	44d	1	0.92mi
800 Pierce St Lynchburg, VA	4.0	1.0	1714	$1,295	$0.76	44d	1	0.97mi
2205 Mayflower Dr Lynchburg, VA	3.0	1.0	1500	$1,450	$0.97	22d	1	1.00mi
630 Park Ln Lynchburg, VA	4.0	1.5	1434	$1,895	$1.32	14d	1	1.01mi
1316 Harrison St Lynchburg, VA	3.0	1.5	1535	$1,500	$0.98	44d	1	1.03mi
812 Taylor St Lynchburg, VA	3.0	2.0	1872	$1,950	$1.04	14d	1	1.05mi
900 Polk St Unit A Lynchburg, VA	3.0	1.0	1100	$895	$0.81	14d	1	1.09mi
1008 8th St Lynchburg, VA	3.0	2.0	1316	$1,795	$1.36	22d	1	1.12mi
106 Yeardley Ave Unit B Lynchburg, VA	3.0	1.0	1060	$895	$0.84	22d	1	1.15mi
1500 Main St Lynchburg, VA	1.0–2.0	1.0	1182	$1,600	$1.35	14d	6	1.25mi
601 Jackson St Lynchburg, VA	3.0	2.0	1138	$1,595	$1.40	44d	1	1.27mi
209 Munford St Lynchburg, VA	3.0	2.5	1420	$1,497	$1.05	45d	1	1.30mi
512 Polk St Lynchburg, VA	3.0	1.0	1340	$1,295	$0.97	22d	1	1.30mi
2920 Richmond St Lynchburg, VA	4.0	1.0	1472	$1,695	$1.15	22d	1	1.30mi
310 Yeardley Ave Lynchburg, VA	4.0	2.5	1888	$1,800	$0.95	22d	1	1.36mi
1705 1st St Unit A Lynchburg, VA	2.0	1.0	1100	$1,395	$1.27	22d	1	1.39mi
206 Connecticut Ave Lynchburg, VA	4.0	2.5	2180	$1,650	$0.76	22d	1	1.44mi

Listing history 27 events

1. 2026-06-19
   days on market $120,000 Active 28 DOM
2. 2026-06-18
   days on market $120,000 Active 27 DOM
3. 2026-06-17
   days on market $120,000 Active 26 DOM
4. 2026-06-16
   days on market $120,000 Active 25 DOM
5. 2026-06-15
   days on market $120,000 Active 24 DOM
6. 2026-06-14
   days on market $120,000 Active 22 DOM
7. 2026-06-13
   days on market $120,000 Active 21 DOM
8. 2026-06-10
   days on market $120,000 Active 19 DOM
9. 2026-06-09
   days on market $120,000 Active 18 DOM
10. 2026-06-08
    days on market $120,000 Active 17 DOM
11. 2026-06-07
    days on market $120,000 Active 16 DOM
12. 2026-06-03
    days on market $120,000 Active 12 DOM
13. 2026-06-02
    days on market $120,000 Active 11 DOM
14. 2026-06-01
    days on market $120,000 Active 10 DOM
15. 2026-05-31
    days on market $120,000 Active 9 DOM
16. 2026-05-30
    days on market $120,000 Active 8 DOM
17. 2026-05-22
    listed $120,000 Active
18. 2026-05-19
    listed $120,000 Active 639-char remark

    Show marketing remark (639 chars)

    Home located directly in front of college dormitory. Attention Investors Or First Time Home Buyers: Very nice 3BR/2BA home located near Virginia University of Lynchburg on the Hill. This home would make a great starter home or turn-key rental! Home offers , newly installed leaf filter gutters, big kitchen, large dinning room , unfinished basement , unfinished sunroom , nice laminate flooring, ceramic tile and much more! Not to mention this home is located in the heart of the city with easy access to 29, 460, shopping and restaurants. Needs outdoor minor roof repairs done, perfect for investors or for someone who flips properties .

19. 2022-06-02
    soldstatus $115,000 Closed
20. 2022-03-15
    historical
21. 2021-12-02
    listed $117,900
22. 2021-08-31
    soldstatus $52,000
23. 2021-08-24
    soldstatus $52,000
24. 2021-06-11
    listed $60,000
25. 2015-01-30
    listed $79,998
26. 2014-08-04
    soldstatus $15,000
27. 2013-10-29
    listed $19,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $931 · $78/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$53/yr (+$4/mo · 5.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,370
• − Mortgage interest: −$6,722
• − Property taxes: −$931
• − Insurance: −$600
• − Repairs & maintenance: −$1,470
• − Management: −$1,470
• − Depreciation: −$3,491
• Taxable income: $3,687
• Est. tax owed @ 24.0%: −$885
• After-tax cash flow: $4,545/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lynchburg City Public School District
• NCES district ID: 5102340
• Math proficiency: 36% ▼ -38.00%
• Reading proficiency: 61% ▼ -8.00%
• Median HH income: $39,097
• Composite: 40.4/100
• National rank: #3730
• State rank: #104 of 131 in VA

Livability — Lynchburg

• Score: 91/100
• State rank: #1
• US rank: #58

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime C- Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lynchburg, VA
• County: Lynchburg City · 97,036 people
• City population: 97,036
• Metro: Lynchburg, VA
• Population (ZIP): 25,006
• Household income: $42,222
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 1717.0

Population outlook (Lynchburg County) Hauer SSP2

• Today (2025): 87,977 people
• By 2030: 93,626 · +6.4%
• By 2040: 106,145 · +20.7%
• By 2050: 120,783 · +37.3%
• By 2075: 162,249 · +84.4%
• By 2100: 191,358 · +117.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Black 34% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Lynchburg

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.3% · Other 1.3%
• 2008→2024 swing: -3.9pp toward R · 2008: -4.0pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: D+2.6 2016: R+9.0 2012: R+10.6 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.06%
• Current HPI: 223.6839
• Rent YoY: ▲ 1.15%
• Metro: Lynchburg, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+503.0% since first listed

11 events — show timeline

• 2026-05-22 Listed $120,000 FSBO.com
• 2026-05-19 Listed $120,000 FSBO.com
• 2022-06-02 Sold (MLS) $115,000 LMLS
• 2022-03-15 Delisted — LMLS
• 2021-12-02 Listed $117,900 LMLS
• 2021-08-31 Sold (Public Records) $52,000 Public Records
• 2021-08-24 Sold (MLS) $52,000 LMLS
• 2021-06-11 Listed $60,000 LMLS
• 2015-01-30 Listed $79,998 LMLS
• 2014-08-04 Sold (MLS) $15,000 LMLS
• 2013-10-29 Listed $19,900 LMLS

Property tax history

+11.2%/yr

Latest (2025): $931 · +12.4% YoY. Source: county tax records.