510 Sussex St · Lynchburg, VA 24501

$199,420

4 bd · 2.0 ba · 1,786 sqft · MultiFamily public records · 12 Days on market

Built 1937 6,673 sqft lot Est $230k · 13% under

---

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 +28.4/30.0
• ARV discount +13.5/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 510 Sussex Street, a fully renovated duplex offering exceptional versatility for both owner-occupants and investors alike. Each unit features 2 bedrooms, 1 full bath, a spacious living area, full kitchen, and in-unit laundry. The property has undergone a comprehensive renovation, including a new roof, replacement windows, updated dual zone HVAC systems, refinished and new flooring, as well as fully updated kitchens and bathrooms, providing true turnkey living. Ideally located within walking distance to the University of Lynchburg and just minutes from Liberty University, this property benefits from strong rental demand and long-term investment stability. Additional features include off-street parking, sidewalks, and a storage shed. Whether you're looking to house hack, expand your portfolio, or secure a low-maintenance investment, 510 Sussex delivers a rare combination of location, updates, and income potential.

Key facts

• New roof
• Replacement windows
• 6,673 sq ft lot

Tags

• FULLY RENOVATED DUPLEX
• NEW ROOF
• REPLACEMENT WINDOWS
• UPDATED DUAL ZONE HVAC SYSTEMS
• REFINISHED AND NEW FLOORING
• FULLY UPDATED KITCHENS

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Storage structure on property

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Microwave
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Zoned heating; Zoned cooling
• Interior features: Fireplace (1); Finished basement
• Laundry & utility: Laundry room on main level and in basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Cap rate 10.2% 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.
• Zoned schools: Perrymont Elementary (math 27% / reading 42%, grade F, #966 of 1,108 statewide, top 89%, 337 students, 95% FRL); E.C. Glass High (math 42% / reading 84%, grade B-, #223 of 319 statewide, top 70%, 1,325 students, 92% FRL) — zoned schools average 94% FRL vs 61% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 221 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 472 units permitted in Lynchburg city in 2024 (240 in 5+ unit buildings).
• At $2,376/mo this rent would consume 68% of the median local household income ($42k/yr) (locally 1717% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.
• Current owner paid $80k; list at $199k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — 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 $199,420

Questions for the listing agent

1. Built in 1937 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 10.17%
• Cash-on-cash: 13.85%
• DSCR: 1.62
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $230,394
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 Thomas Rd	0.21mi	4/—	2,042 (+14%)	6mo	$169,900	$83	61
608 Euclid Ave	0.71mi	4/—	1,872 (+5%)	14mo	$241,900	$129	47
1348 Englewood St	0.72mi	4/—	1,522 (-15%)	3mo	$233,900	$154	40

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $4,342
• Equity at exit: $29,734

10-year hold

• IRR: 9.9%
• Equity multiple: 1.70×
• Total profit: $39,255
• Equity at exit: $17,242

Cash invested: $55,838 (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: 221
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,376 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$104 /mo · $1,243/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $645

Break-even live

Break-even rent $1,560

Max offer price $199,420

Occupancy floor 68%

Sensitivity live

Price	-10% $757	-5% $701	+0% $645	+5% $588	+10% $532
Rent	-10% $457	-5% $551	+0% $645	+5% $738	+10% $832
Rate	-1.0pp $745	-0.5pp $695	base $645	+0.5pp $593	+1.0pp $540

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,376
Total (2 units)			$2,376

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: $49,855
• Closing costs: $5,983
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Thomas Rd Unit A Lynchburg, VA	3.0	1.0	1530	$1,395	$0.91	44d	1	0.18mi
310 Yeardley Ave Lynchburg, VA	4.0	2.5	1888	$1,800	$0.95	22d	1	0.27mi
206 Connecticut Ave Lynchburg, VA	4.0	2.5	2180	$1,650	$0.76	22d	1	0.30mi
2920 Richmond St Lynchburg, VA	4.0	1.0	1472	$1,695	$1.15	22d	1	0.62mi
4624 Ferncliff Dr Lynchburg, VA	3.0	2.0	2064	$1,700	$0.82	44d	1	0.70mi
4612 Greenwood Dr Lynchburg, VA	3.0	1.0	1257	$1,595	$1.27	22d	1	0.72mi
1309 Radcliff Ave Lynchburg, VA	4.0	2.5	1658	$1,725	$1.04	44d	1	0.87mi
320 Kenyon St Lynchburg, VA	3.0	2.0	1736	$1,595	$0.92	44d	1	0.89mi
403 Grove St Lynchburg, VA	3.0	2.0	1400	$1,600	$1.14	44d	1	1.09mi
630 Park Ln Lynchburg, VA	4.0	1.5	1434	$1,895	$1.32	14d	1	1.12mi
1116 Chestnut Hill Dr Lynchburg, VA	4.0	2.0	1818	$2,095	$1.15	14d	1	1.16mi
1116 Chestnut Hill Dr Lynchburg, VA	4.0	2.0	1818	$1,895	$1.04	44d	1	1.16mi
2121 Langhorne Rd Unit 11011559SF 3BR/2BA Lynchburg, VA	3.0	2.0	1559	$1,695	$1.09	22d	1	1.24mi
913 Sandusky Dr Lynchburg, VA	4.0	3.0	2200	$2,200	$1.00	14d	1	1.41mi
209 Munford St Lynchburg, VA	3.0	2.5	1420	$1,497	$1.05	45d	1	1.46mi

Listing history 6 events

1. 2026-04-29
   status Pending 936-char remark

   Show marketing remark (936 chars)

   Welcome to 510 Sussex Street, a fully renovated duplex offering exceptional versatility for both owner-occupants and investors alike. Each unit features 2 bedrooms, 1 full bath, a spacious living area, full kitchen, and in-unit laundry. The property has undergone a comprehensive renovation, including a new roof, replacement windows, updated dual zone HVAC systems, refinished and new flooring, as well as fully updated kitchens and bathrooms, providing true turnkey living. Ideally located within walking distance to the University of Lynchburg and just minutes from Liberty University, this property benefits from strong rental demand and long-term investment stability. Additional features include off-street parking, sidewalks, and a storage shed. Whether you're looking to house hack, expand your portfolio, or secure a low-maintenance investment, 510 Sussex delivers a rare combination of location, updates, and income potential.

2. 2026-04-29
   status Pending

   Show marketing remark (936 chars)

   Welcome to 510 Sussex Street, a fully renovated duplex offering exceptional versatility for both owner-occupants and investors alike. Each unit features 2 bedrooms, 1 full bath, a spacious living area, full kitchen, and in-unit laundry. The property has undergone a comprehensive renovation, including a new roof, replacement windows, updated dual zone HVAC systems, refinished and new flooring, as well as fully updated kitchens and bathrooms, providing true turnkey living. Ideally located within walking distance to the University of Lynchburg and just minutes from Liberty University, this property benefits from strong rental demand and long-term investment stability. Additional features include off-street parking, sidewalks, and a storage shed. Whether you're looking to house hack, expand your portfolio, or secure a low-maintenance investment, 510 Sussex delivers a rare combination of location, updates, and income potential.

3. 2026-04-17
   listed $199,420 Active 936-char remark

   Show marketing remark (936 chars)

   Welcome to 510 Sussex Street, a fully renovated duplex offering exceptional versatility for both owner-occupants and investors alike. Each unit features 2 bedrooms, 1 full bath, a spacious living area, full kitchen, and in-unit laundry. The property has undergone a comprehensive renovation, including a new roof, replacement windows, updated dual zone HVAC systems, refinished and new flooring, as well as fully updated kitchens and bathrooms, providing true turnkey living. Ideally located within walking distance to the University of Lynchburg and just minutes from Liberty University, this property benefits from strong rental demand and long-term investment stability. Additional features include off-street parking, sidewalks, and a storage shed. Whether you're looking to house hack, expand your portfolio, or secure a low-maintenance investment, 510 Sussex delivers a rare combination of location, updates, and income potential.

4. 2026-04-17
   listed $199,420 Active

   Show marketing remark (936 chars)

   Welcome to 510 Sussex Street, a fully renovated duplex offering exceptional versatility for both owner-occupants and investors alike. Each unit features 2 bedrooms, 1 full bath, a spacious living area, full kitchen, and in-unit laundry. The property has undergone a comprehensive renovation, including a new roof, replacement windows, updated dual zone HVAC systems, refinished and new flooring, as well as fully updated kitchens and bathrooms, providing true turnkey living. Ideally located within walking distance to the University of Lynchburg and just minutes from Liberty University, this property benefits from strong rental demand and long-term investment stability. Additional features include off-street parking, sidewalks, and a storage shed. Whether you're looking to house hack, expand your portfolio, or secure a low-maintenance investment, 510 Sussex delivers a rare combination of location, updates, and income potential.

5. 2024-09-24
   soldstatus $80,000
6. 1984-07-18
   soldstatus $37,500

ⓘ 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: $1,243 · $104/mo
• Projected year-2 tax: $1,635 · $136/mo
• Expected delta: +$392/yr (+$33/mo · 31.5%)

ⓘ 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 1/10 Low
• 🌡 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: $28,512
• − Mortgage interest: −$11,171
• − Property taxes: −$1,243
• − Insurance: −$997
• − Repairs & maintenance: −$2,281
• − Management: −$2,281
• − Depreciation: −$5,801
• Taxable income: $4,738
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $6,598/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

+431.8% since first listed

6 events — show timeline

• 2026-04-29 Pending — LMLS
• 2026-04-29 Pending — LMLS
• 2026-04-17 Listed $199,420 LMLS
• 2026-04-17 Listed $199,420 LMLS
• 2024-09-24 Sold (Public Records) $80,000 Public Records
• 1984-07-18 Sold (Public Records) $37,500 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,243 · +20.8% YoY. Source: county tax records.