1624 Fillmore St · Lynchburg, VA 24501

$199,000

3 bd · 2.0 ba · 1,727 sqft · MultiFamily public records · 24 Days on market

Built 1910 Est $173k · 15% over

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Why this score? — see what drove the C 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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +6.6/10.0
• Livability +4.5/5.0
• Schools +4.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.6/15.0
• 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

Duplex with separate power, needs renovation and rehab. May not qualify for Gov. financing, main level occupied 12yr tenant at $400.00 mo.

Key facts

• Rear parking
• Private entrances
• 2 separate units

Tags

• DUPLEX INVESTMENT OPPORTUNITY
• 2 SEPARATE UNITS
• PRIVATE ENTRANCES
• CORNER LOT
• REAR PARKING
• 2 SEPARATE ELECTRIC METERS

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Residential condominium; 2 stories
• Construction: Vinyl siding
• Exterior features: Shingle roof

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Ceramic tile; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Crawl space basement
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $594 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% 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: Linkhorne Elementary (math 22% / reading 47%, grade F, #966 of 1,108 statewide, top 89%, 409 students, 96% 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); 216 active listings in the ZIP; 32 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).
• At $2,310/mo this rent would consume 66% 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

• It's been on market 24 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.
• Current owner paid $55k; list at $199k implies a 262% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $196,015 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 1.16% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.80%
• DSCR: 1.57
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $172,700
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1504 Pierce St. St	0.12mi	3/—	1,881 (+9%)	17mo	$188,000	$100	66
2278 Otey St	0.71mi	4/— (+1)	1,786 (+3%)	6mo	$180,000	$101	51
1310 Garfield Ave	0.48mi	3/—	1,958 (+13%)	8mo	$115,000	$59	49
1329 Campbell Ave	0.44mi	4/— (+1)	1,912 (+11%)	10mo	$130,000	$68	48
1213 10th St	0.50mi	4/— (+1)	1,578 (-9%)	14mo	$186,000	$118	46
1107 Miller St	0.30mi	4/— (+1)	1,920 (+11%)	20mo	$140,000	$73	46

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,321
• Equity at exit: $29,672

10-year hold

• IRR: 8.4%
• Equity multiple: 1.59×
• Total profit: $32,967
• Equity at exit: $17,206

Cash invested: $55,720 (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: 14.4×

Monthly cashflow live

• Estimated rent: $2,310 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$104 /mo · $1,251/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $594

Break-even live

Break-even rent $1,558

Max offer price $199,000

Occupancy floor 69%

Sensitivity live

Price	-10% $707	-5% $651	+0% $594	+5% $538	+10% $482
Rent	-10% $412	-5% $503	+0% $594	+5% $685	+10% $777
Rate	-1.0pp $694	-0.5pp $645	base $594	+0.5pp $543	+1.0pp $490

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,310
Total (2 units)			$2,310

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1518 Fillmore St Lynchburg, VA	3.0	2.5	1560	$1,800	$1.15	14d	1	0.08mi
1308 16th St Lynchburg, VA	3.0	2.0	1380	$1,800	$1.30	14d	1	0.08mi
1514 Fillmore St Lynchburg, VA	3.0	2.5	1560	$1,800	$1.15	14d	1	0.09mi
1521 Taylor St Lynchburg, VA	3.0	1.0	1337	$1,195	$0.89	21d	1	0.16mi
1415 Floyd St Lynchburg, VA	3.0	2.0	1300	$1,800	$1.38	21d	1	0.16mi
1701 Grace St Lynchburg, VA	4.0	2.0	2173	$1,495	$0.69	14d	1	0.30mi
1219 Pierce St Unit 1221 Lynchburg, VA	2.0	1.0	1168	$825	$0.71	14d	1	0.30mi
1401 Kemper St Lynchburg, VA	2.0–3.0	2.0	1118	$1,167	$1.04	21d	6	0.35mi
1105 Fillmore St Unit B Lynchburg, VA	3.0	1.0	1300	$1,250	$0.96	44d	1	0.39mi
1110 11th St Lynchburg, VA	3.0	1.5	2000	$1,450	$0.72	14d	1	0.44mi
1316 Harrison St Lynchburg, VA	3.0	1.5	1535	$1,500	$0.98	44d	1	0.52mi
812 Taylor St Lynchburg, VA	3.0	2.0	1872	$1,950	$1.04	14d	1	0.60mi
2269 Aragon St Lynchburg, VA	3.0	2.0	1200	$1,695	$1.41	44d	1	0.60mi
900 Polk St Unit A Lynchburg, VA	3.0	1.0	1100	$895	$0.81	14d	1	0.61mi
800 Pierce St Lynchburg, VA	4.0	1.0	1714	$1,295	$0.76	44d	1	0.62mi
710 Grady St Unit B Lynchburg, VA	2.0	1.0	1872	$795	$0.42	14d	1	0.63mi
1008 8th St Lynchburg, VA	3.0	2.0	1316	$1,795	$1.36	21d	1	0.66mi
1500 Main St Lynchburg, VA	1.0–2.0	1.0	1182	$1,600	$1.35	14d	6	0.78mi
2518 Carter St Lynchburg, VA	3.0	2.0	1091	$1,500	$1.37	44d	1	0.78mi
601 Jackson St Lynchburg, VA	3.0	2.0	1138	$1,595	$1.40	44d	1	0.81mi
403 Grove St Lynchburg, VA	3.0	2.0	1400	$1,600	$1.14	44d	1	0.83mi
512 Polk St Lynchburg, VA	3.0	1.0	1340	$1,295	$0.97	21d	1	0.84mi
2734 Fort Ave Lynchburg, VA	1.0–2.0	1.0–2.0	875	$1,450	$1.66	44d	1	0.86mi
630 Park Ln Lynchburg, VA	4.0	1.5	1434	$1,895	$1.32	14d	1	0.94mi
320 Kenyon St Lynchburg, VA	3.0	2.0	1736	$1,595	$0.92	44d	1	0.96mi
216 Kenyon St Lynchburg, VA	2.0	1.0	1114	$995	$0.89	44d	1	1.05mi
209 Munford St Lynchburg, VA	3.0	2.5	1420	$1,497	$1.05	45d	1	1.06mi
1705 1st St Unit A Lynchburg, VA	2.0	1.0	1100	$1,395	$1.27	21d	1	1.11mi
106 Yeardley Ave Unit B Lynchburg, VA	3.0	1.0	1060	$895	$0.84	21d	1	1.36mi
2920 Richmond St Lynchburg, VA	4.0	1.0	1472	$1,695	$1.15	21d	1	1.39mi
2205 Mayflower Dr Lynchburg, VA	3.0	1.0	1500	$1,450	$0.97	21d	1	1.40mi
507 Victoria Ave Unit 507 Lynchburg, VA	4.0	2.0	1480	$1,700	$1.15	21d	1	1.48mi

Listing history 24 events

1. 2026-06-10
   days on market $199,000 Active 24 DOM
2. 2026-06-09
   days on market $199,000 Active 23 DOM
3. 2026-06-08
   days on market $199,000 Active 22 DOM
4. 2026-06-07
   days on market $199,000 Active 21 DOM
5. 2026-06-03
   days on market $199,000 Active 17 DOM
6. 2026-06-02
   days on market $199,000 Active 16 DOM
7. 2026-06-01
   days on market $199,000 Active 15 DOM
8. 2026-05-31
   days on market $199,000 Active 14 DOM
9. 2026-05-30
   days on market $199,000 Active 13 DOM
10. 2026-05-17
    listed $199,000 Active
11. 2025-12-20
    historical $985
12. 2025-10-14
    listed $985
13. 2023-12-25
    historical $985
14. 2023-12-01
    price $985
15. 2023-11-02
    listed $950
16. 2023-10-10
    historical $950
17. 2023-09-19
    price $950
18. 2023-09-02
    listed $1,200
19. 2023-03-20
    soldstatus $54,900 Closed 138-char remark

    Show marketing remark (138 chars)

    Duplex with separate power, needs renovation and rehab. May not qualify for Gov. financing, main level occupied 12yr tenant at $400.00 mo.

20. 2023-03-20
    soldstatus $54,900

    Show marketing remark (138 chars)

    Duplex with separate power, needs renovation and rehab. May not qualify for Gov. financing, main level occupied 12yr tenant at $400.00 mo.

21. 2023-03-07
    status Pending 138-char remark

    Show marketing remark (138 chars)

    Duplex with separate power, needs renovation and rehab. May not qualify for Gov. financing, main level occupied 12yr tenant at $400.00 mo.

22. 2023-03-01
    listed $54,900 Active 138-char remark

    Show marketing remark (138 chars)

    Duplex with separate power, needs renovation and rehab. May not qualify for Gov. financing, main level occupied 12yr tenant at $400.00 mo.

23. 2005-06-06
    soldstatus $79,000
24. 2005-06-03
    soldstatus $71,100

ⓘ 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: $1,251 · $104/mo
• Projected year-2 tax: $1,632 · $136/mo
• Expected delta: +$381/yr (+$32/mo · 30.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $27,720
• − Mortgage interest: −$11,147
• − Property taxes: −$1,251
• − Insurance: −$995
• − Repairs & maintenance: −$2,218
• − Management: −$2,218
• − Depreciation: −$5,789
• Taxable income: $4,103
• Est. tax owed @ 24.0%: −$985
• After-tax cash flow: $6,145/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

+179.9% since first listed

15 events — show timeline

• 2026-05-17 Listed $199,000 LMLS
• 2025-12-20 Rental Removed $985 BUILDIUM
• 2025-10-14 Listed for Rent $985 BUILDIUM
• 2023-12-25 Rental Removed $985 BUILDIUM
• 2023-12-01 Price Changed $985 BUILDIUM
• 2023-11-02 Listed for Rent $950 BUILDIUM
• 2023-10-10 Rental Removed $950 BUILDIUM
• 2023-09-19 Price Changed $950 BUILDIUM
• 2023-09-02 Listed for Rent $1,200 BUILDIUM
• 2023-03-20 Sold (Public Records) $54,900 Public Records
• 2023-03-20 Sold (MLS) $54,900 LMLS
• 2023-03-07 Pending — LMLS
• 2023-03-01 Listed $54,900 LMLS
• 2005-06-06 Sold (Public Records) $79,000 Public Records
• 2005-06-03 Sold (Public Records) $71,100 Public Records

Property tax history

+10.0%/yr

Latest (2025): $1,251 · +127.0% YoY. Source: county tax records.