1664 Graves Mill Rd · Lynchburg, VA 24502

$899,000

12 bd · 0.0 ba · 6,792 sqft · MultiFamily public records · 122 Days on market

Built 1970 Fair condition 0.70 ac lot $132/sqft · 21% below area Est $1.142M · 21% 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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.3/10.0
• Schools +5.1/10.0
• Livability +4.5/5.0
• Rent growth +3.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great location. .. Holly Hills Apartments has 8 units. All have 2 beds/1 bath with heat pump. 3 units are updated. Tenants pay all utilities except water/trash.

Key facts

• Prime location
• 0.7 acre lot
• Built 1970

Tags

• INCOME PRODUCING 8 PLEX
• HIGH TRAFFIC CORRIDOR
• PRIME LOCATION
• EASY ACCESS TO EXPRESSWAY
• SURROUNDED BY RESTAURANTS
• STRONG RENTAL HISTORY

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1-bath units multifamily listed at $899k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive. Per door: $316/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $899k).
• Recommended offer: $791k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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: Sandusky Elementary (math 47% / reading 67%, grade C+, #597 of 1,108 statewide, top 57%, 352 students, 91% FRL); Sandusky Middle (math 29% / reading 52%, grade F, #303 of 342 statewide, top 89%, 568 students, 96% FRL); Heritage High (math 32% / reading 77%, grade C-, #281 of 319 statewide, top 90%, 1,073 students, 94% 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 fast (+5.1%/yr); 444 active listings in the ZIP; 472 units permitted in Lynchburg city in 2024 (240 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k 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 + 5.1% rent growth), your $252k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($791k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $620k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $791,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.13% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.04%
• DSCR: 1.54
• GRM: 7.4

CMA / ARV

• ARV (median comp): $1,142,121
• List price: $899,000
• Delta: -21.29%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1009 Allison Dawn Dr	1.16mi	10/— (-2)	8,176 (+20%)	51mo	$850,000	$104	10
1062 Blane Dr	1.20mi	10/— (-2)	8,176 (+20%)	51mo	$850,000	$104	10

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 · 5.11% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.15×
• Total profit: $36,932
• Equity at exit: $134,044

10-year hold

• IRR: 15.0%
• Equity multiple: 2.32×
• Total profit: $332,534
• Equity at exit: $77,729

Cash invested: $251,720 (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 24502

• Rents YoY: 5.1%
• Active inventory: 444
• Price-to-rent: 59.0×

Monthly cashflow live

• Estimated rent: $10,163 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$414 /mo · $4,969/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,134
• Net cashflow: $2,526

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$10,160
Total (8 units)			$10,163

Break-even live

Break-even rent $6,966

Max offer price $899,000

Occupancy floor 70%

Sensitivity live

Price	-10% $3,035	-5% $2,780	+0% $2,526	+5% $2,271	+10% $2,017
Rent	-10% $1,723	-5% $2,124	+0% $2,526	+5% $2,927	+10% $3,329
Rate	-1.0pp $2,978	-0.5pp $2,754	base $2,526	+0.5pp $2,293	+1.0pp $2,056

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: $224,750
• Closing costs: $26,970
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1114 Rosedale Blvd Lynchburg, VA	3.0	2.0	1502	$1,745	$1.16	93d	1	0.55mi
1205 Rosedale Blvd Lynchburg, VA	1.0	1.0	730	$1,224	$1.68	93d	1	0.57mi
106 Morning Glory Ct Lynchburg, VA	2.0	2.0	1140	$1,525	$1.34	70d	1	0.61mi
106 Morning Glory Ct Lynchburg, VA	3.0	2.0	1424	$1,645	$1.16	93d	1	0.61mi
111 Northwynd Cir Lynchburg, VA	2.0–3.0	2.0	1050	$1,175	$1.12	62d	3	1.17mi
1102 Blane Dr Unit 1306 Lynchburg, VA	2.0	1.5	1040	$1,100	$1.06	93d	1	1.18mi
639 Wyndhurst Dr Unit 639 Lynchburg, VA	3.0	3.0	1940	$700	$0.36	62d	1	1.27mi
501 Bent Oak Ct Lynchburg, VA	3.0	2.0	1250	$1,900	$1.52	93d	1	1.28mi
518 Northwynd Cir Lynchburg, VA	3.0	2.5	2224	$1,900	$0.85	93d	1	1.37mi
201 Rolling Ridge Dr Forest, VA	3.0	2.0	1792	$1,995	$1.11	62d	1	1.43mi

Property features AI

Finance

• Financial info: Each 2-bedroom unit listed with monthly rent of $1,000

Exterior

• Utilities: Public waterSeptic sewer
• Home design: Residential income property (multi-family)
• Construction: Brick exterior
• Exterior features: Brick construction

Interior

• Bedrooms: Multiple 2-bedroom units
• Flooring: CarpetVinyl
• Heating & cooling: Heat pumpCentral heating and cooling
• Interior features: Electric water heater

Listing history 50 events

1. 2026-08-08
   days on market $899,000 Active 122 DOM
2. 2026-08-07
   days on market $899,000 Active 121 DOM
3. 2026-08-06
   days on market $899,000 Active 120 DOM
4. 2026-08-05
   days on market $899,000 Active 119 DOM
5. 2026-08-04
   days on market $899,000 Active 118 DOM
6. 2026-08-03
   days on market $899,000 Active 117 DOM
7. 2026-07-31
   days on market $899,000 Active 114 DOM
8. 2026-07-30
   days on market $899,000 Active 113 DOM
9. 2026-07-29
   days on market $899,000 Active 112 DOM
10. 2026-07-27
    days on market $899,000 Active 110 DOM
11. 2026-07-25
    days on market $899,000 Active 108 DOM
12. 2026-07-23
    days on market $899,000 Active 106 DOM
13. 2026-07-22
    days on market $899,000 Active 105 DOM
14. 2026-07-21
    days on market $899,000 Active 104 DOM
15. 2026-07-18
    days on market $899,000 Active 101 DOM
16. 2026-07-16
    days on market $899,000 Active 99 DOM
17. 2026-07-16
    days on market $899,000 Active 98 DOM
18. 2026-07-14
    days on market $899,000 Active 97 DOM
19. 2026-07-13
    days on market $899,000 Active 96 DOM
20. 2026-07-12
    days on market $899,000 Active 95 DOM
21. 2026-07-11
    days on market $899,000 Active 94 DOM
22. 2026-07-10
    days on market $899,000 Active 93 DOM
23. 2026-07-09
    days on market $899,000 Active 92 DOM
24. 2026-07-08
    days on market $899,000 Active 91 DOM
25. 2026-07-07
    days on market $899,000 Active 90 DOM
26. 2026-07-06
    days on market $899,000 Active 89 DOM
27. 2026-07-05
    days on market $899,000 Active 88 DOM
28. 2026-07-04
    days on market $899,000 Active 87 DOM
29. 2026-07-03
    days on market $899,000 Active 86 DOM
30. 2026-07-02
    days on market $899,000 Active 85 DOM
31. 2026-07-01
    days on market $899,000 Active 84 DOM
32. 2026-06-30
    days on market $899,000 Active 83 DOM
33. 2026-06-29
    days on market $899,000 Active 82 DOM
34. 2026-06-28
    days on market $899,000 Active 81 DOM
35. 2026-06-28
    days on market $899,000 Active 80 DOM
36. 2026-06-27
    days on market $899,000 Active 79 DOM
37. 2026-06-25
    days on market $899,000 Active 77 DOM
38. 2026-06-23
    days on market $899,000 Active 75 DOM
39. 2026-06-21
    days on market $899,000 Active 74 DOM
40. 2026-06-19
    days on market $899,000 Active 72 DOM
41. 2026-06-18
    days on market $899,000 Active 71 DOM
42. 2026-06-17
    days on market $899,000 Active 70 DOM
43. 2026-06-16
    days on market $899,000 Active 69 DOM
44. 2026-06-15
    days on market $899,000 Active 68 DOM
45. 2026-06-14
    days on market $899,000 Active 66 DOM
46. 2026-06-13
    days on market $899,000 Active 65 DOM
47. 2026-06-10
    days on market $899,000 Active 63 DOM
48. 2026-06-09
    days on market $899,000 Active 62 DOM
49. 2026-06-08
    days on market $899,000 Active 61 DOM
50. 2026-06-07
    days on market $899,000 Active 60 DOM

ⓘ 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: $4,969 · $414/mo
• Projected year-2 tax: $7,372 · $614/mo
• Expected delta: +$2,403/yr (+$200/mo · 48.4%)

ⓘ 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 5/10 Major 7 d/yr ≥101°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: $121,956
• − Mortgage interest: −$50,358
• − Property taxes: −$4,969
• − Insurance: −$4,495
• − Repairs & maintenance: −$9,756
• − Management: −$9,756
• − Depreciation: −$26,153
• Taxable income: $16,469
• Est. tax owed @ 24.0%: −$3,952
• After-tax cash flow: $26,356/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.

Condition & rehab AI · 8 photos

Fair 45/100 Moderate rehab Est. rehab $169,800–$305,640 screening

This multi-family property requires moderate renovations, including painting and landscaping, to improve its curb appeal and overall condition.

Repairs flagged

• Major paint — extensive wear and tear
• Major landscaping — overgrown areas and lack of maintenance

Value-add opportunities

• Both painting and repainting — enhances curb appeal and interior aesthetics ↑
• Both landscaping and yard maintenance — improves curb appeal and enhances property value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Sandusky Elementary C+ VA #597/1,108 Nat'l #8,534/41,679 Middle Sandusky Middle F VA #303/342 Nat'l #5,872/14,009 High Heritage High C- VA #281/319 Nat'l #4,461/17,239

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

A Composite livability gradescore 91/100

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 · 87,977 people
• City population: 97,036
• Metro: Lynchburg, VA
• Population (ZIP): 41,979
• Household income: $68,872
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 19% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, South Korea, United Kingdom
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 1%

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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: ▼ -222.79%
• Current HPI: 241.9041
• Rent YoY: ▲ 5.11%
• Metro: Lynchburg, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

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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

Property features AI

Finance

• Financial info: Each 2-bedroom unit listed with monthly rent of $1,000

Exterior

• Utilities: Public waterSeptic sewer
• Home design: Residential income property (multi-family)
• Construction: Brick exterior
• Exterior features: Brick construction

Interior

• Bedrooms: Multiple 2-bedroom units
• Flooring: CarpetVinyl
• Heating & cooling: Heat pumpCentral heating and cooling
• Interior features: Electric water heater

Price history

+499.3% since first listed

11 events — show timeline

• 2026-04-08 Listed $899,000 LMLS
• 2023-03-31 Sold (MLS) $620,000 LMLS
• 2023-02-09 Delisted — LMLS
• 2023-02-09 Listed $620,000 LMLS
• 2020-06-16 Sold (MLS) $405,000 LMLS
• 2019-01-02 Listing Removed — MLSRV
• 2018-09-12 Listed $665,000 MLSRV
• 2016-03-22 Listed $405,000 LMLS
• 1990-01-02 Sold (Public Records) $190,000 Public Records
• 1982-02-12 Sold (Public Records) $195,000 Public Records
• 1981-01-05 Sold (Public Records) $150,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $4,969 · +23.8% YoY. Source: county tax records.