4800 Myrtle St · Lynchburg, VA 24502

$214,900

3 bd · 1.0 ba · 1,313 sqft · SingleFamily public records · 5 Days on market

Built 1947 9,627 sqft lot Est $227k · 5% under

---

Why this score? — see what drove the D 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 +12.0/30.0
• ARV discount +9.9/15.0
• Livability +4.5/5.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom 2 full bath home has so much to offer at an affordable price. It sets on a large mostly level corner lot in the super convenient Fort Hill neighborhood. The home is an extremely inviting, nicely updated 1 1/2 story home with main level laundry, a master bedroom with its own bath, and the kitchen has all brand new black & stainless steel appliances, new butcher block countertops, and a pantry. It has fresh paint, hardwood floors, and both bathrooms are fully tiled. There is a lovely sunroom off the back of the home with panoramic views of the backyard as well as a covered side porch. With a walk-in floored attic and access to the eve space you will have plenty of storage space. To top all this off, the sellers are also leaving a front load washer and dryer, a nest thermostat for the heat pump and a fenced-in raised garden beds. This one definitely won't last long!

Key facts

• Pantry
• Corner lot
• Hardwood floors

Tags

• CORNER LOT
• HARDWOOD FLOORS
• NEW WINDOWS
• BUTCHER BLOCK COUNTERTOPS
• PANTRY
• 3 SEASON SUNROOM

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Garden; Storm door(s)

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Hardwood; Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump
• Interior features: Dishwasher; Electric range; Refrigerator; Electric water heater; Crawl space
• Laundry & utility: Main level laundry room with washer hookup; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-52 ($-627/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (24.4% below list).
• Recommended offer: $163k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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); 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 (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 318 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.
• Current owner paid $135k; list at $215k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $162,542 (24.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $227,149
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
707 Crestwood Cir	0.08mi	3/1.0	1,197 (-9%)	4mo	$215,000	$180	78
1116 Toledo Ave	0.25mi	3/1.5	1,260 (-4%)	2mo	$205,000	$163	78
1308 Mckinney Ave	0.40mi	3/1.0	1,274 (-3%)	2mo	$219,900	$173	75
813 Westview Dr	0.34mi	3/1.5	1,262 (-4%)	3mo	$241,000	$191	73
1029 Lindsay St	0.31mi	3/2.5	1,352 (+3%)	2mo	$334,900	$248	73
4624 Greenwood Dr	0.59mi	3/1.0	1,328 (+1%)	2mo	$200,000	$151	69
1128 Toledo Ave	0.19mi	3/1.5	1,468 (+12%)	1mo	$245,000	$167	68
1136 Moseley Dr	0.54mi	3/1.5	1,344 (+2%)	3mo	$259,900	$193	67
1305 Radcliff Ave. Ave	0.41mi	3/1.5	1,223 (-7%)	3mo	$216,000	$177	65
1410 Gates St	0.52mi	2/2.0 (-1)	1,365 (+4%)	1mo	$189,000	$138	59
1101 Toledo Ave	0.31mi	3/1.5	1,143 (-13%)	4mo	$150,000	$131	58
319 Oakridge Blvd	0.71mi	2/1.0 (-1)	1,162 (-12%)	2mo	$165,800	$143	41

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: -16.0%
• Equity multiple: 0.42×
• Total profit: $-34,695
• Equity at exit: $32,042

10-year hold

• IRR: -4.6%
• Equity multiple: 0.67×
• Total profit: $-19,674
• Equity at exit: $18,581

Cash invested: $60,172 (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: 318
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,625 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$120 /mo · $1,438/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-52

Break-even live

Break-even rent $1,692

Max offer price $205,668

Occupancy floor 98%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1009 Lindsay St Lynchburg, VA	3.0	2.0	1050	$1,800	$1.71	44d	1	0.22mi
4607 Fairmont Ave Lynchburg, VA	3.0	1.0	1001	$1,650	$1.65	21d	1	0.22mi
4300 Tremont St Lynchburg, VA	3.0	1.0	1122	$1,200	$1.07	44d	1	0.35mi
1116 Chestnut Hill Dr Lynchburg, VA	4.0	2.0	1818	$2,095	$1.15	13d	1	0.41mi
1116 Chestnut Hill Dr Lynchburg, VA	4.0	2.0	1818	$1,895	$1.04	44d	1	0.41mi
1309 Radcliff Ave Lynchburg, VA	4.0	2.5	1658	$1,725	$1.04	44d	1	0.43mi
4612 Greenwood Dr Lynchburg, VA	3.0	1.0	1257	$1,595	$1.27	21d	1	0.58mi
4067 Fort Ave Unit 3 Lynchburg, VA	2.0	1.0	950	$995	$1.05	21d	1	0.60mi
1320 Saint Cloud Ave Lynchburg, VA	3.0	1.0	960	$1,550	$1.61	44d	1	0.65mi
4647 Ferncliff Dr Lynchburg, VA	2.0	2.0	1034	$1,800	$1.74	44d	1	0.73mi
5621 Killarney Pl Lynchburg, VA	3.0	1.0	1180	$1,575	$1.33	13d	1	0.82mi
5900 Fort Ave Lynchburg, VA	3.0	3.0	1221	$1,595	$1.31	44d	1	0.93mi
5900 Fort Ave Lynchburg, VA	3.0	3.0	1200	$1,595	$1.33	21d	1	0.93mi
101 Thomas Rd Unit A Lynchburg, VA	3.0	1.0	1530	$1,395	$0.91	44d	1	0.94mi
5900 Edgewood Ave Lynchburg, VA	3.0	1.0	1528	$1,400	$0.92	13d	1	1.00mi
106 Yeardley Ave Unit B Lynchburg, VA	3.0	1.0	1060	$895	$0.84	21d	1	1.18mi
803 Mansfield Ave Lynchburg, VA	2.0	1.0	900	$1,300	$1.44	21d	1	1.21mi
1400 Weeping Willow Dr Apt A Lynchburg, VA	1.0–3.0	1.0–2.0	1003	$1,601	$1.60	13d	12	1.30mi
540 Monticello Ave Unit B Lynchburg, VA	2.0	1.0	900	$995	$1.11	21d	1	1.37mi
2920 Richmond St Lynchburg, VA	4.0	1.0	1472	$1,695	$1.15	21d	1	1.38mi
307 Killarney Ct Lynchburg, VA	2.0	1.5	1100	$1,035	$0.94	21d	1	1.44mi
311 Killarney Ct Lynchburg, VA	3.0	2.0	1300	$1,295	$1.00	44d	1	1.46mi
216 Kenyon St Lynchburg, VA	2.0	1.0	1114	$995	$0.89	44d	1	1.50mi

Listing history 8 events

1. 2026-05-22
   listed $214,900 Active
2. 2020-09-09
   soldstatus $134,900
3. 2020-09-08
   soldstatus $134,900 896-char remark

   Show marketing remark (896 chars)

   This 3 bedroom 2 full bath home has so much to offer at an affordable price. It sets on a large mostly level corner lot in the super convenient Fort Hill neighborhood. The home is an extremely inviting, nicely updated 1 1/2 story home with main level laundry, a master bedroom with its own bath, and the kitchen has all brand new black & stainless steel appliances, new butcher block countertops, and a pantry. It has fresh paint, hardwood floors, and both bathrooms are fully tiled. There is a lovely sunroom off the back of the home with panoramic views of the backyard as well as a covered side porch. With a walk-in floored attic and access to the eve space you will have plenty of storage space. To top all this off, the sellers are also leaving a front load washer and dryer, a nest thermostat for the heat pump and a fenced-in raised garden beds. This one definitely won't last long!

4. 2020-07-10
   listed $134,900 896-char remark

   Show marketing remark (896 chars)

   This 3 bedroom 2 full bath home has so much to offer at an affordable price. It sets on a large mostly level corner lot in the super convenient Fort Hill neighborhood. The home is an extremely inviting, nicely updated 1 1/2 story home with main level laundry, a master bedroom with its own bath, and the kitchen has all brand new black & stainless steel appliances, new butcher block countertops, and a pantry. It has fresh paint, hardwood floors, and both bathrooms are fully tiled. There is a lovely sunroom off the back of the home with panoramic views of the backyard as well as a covered side porch. With a walk-in floored attic and access to the eve space you will have plenty of storage space. To top all this off, the sellers are also leaving a front load washer and dryer, a nest thermostat for the heat pump and a fenced-in raised garden beds. This one definitely won't last long!

5. 2017-03-03
   soldstatus $109,000
6. 2017-01-10
   listed $109,900
7. 2013-06-03
   listed $109,900
8. 2005-10-24
   soldstatus $86,155

ⓘ 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: $1,438 · $120/mo
• Projected year-2 tax: $1,762 · $147/mo
• Expected delta: +$324/yr (+$27/mo · 22.5%)

ⓘ 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 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: $19,505
• − Mortgage interest: −$12,038
• − Property taxes: −$1,438
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,560
• − Management: −$1,560
• − Depreciation: −$6,252
• Taxable loss: −$4,418
• Est. tax savings @ 24.0%: +$1,060
• After-tax cash flow: $433/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): 41,979
• Household income: $68,872
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 1774.0

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: 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%

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

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

+149.4% since first listed

8 events — show timeline

• 2026-05-22 Listed $214,900 LMLS
• 2020-09-09 Sold (Public Records) $134,900 Public Records
• 2020-09-08 Sold (MLS) $134,900 LMLS
• 2020-07-10 Listed $134,900 LMLS
• 2017-03-03 Sold (MLS) $109,000 LMLS
• 2017-01-10 Listed $109,900 LMLS
• 2013-06-03 Listed $109,900 LMLS
• 2005-10-24 Sold (Public Records) $86,155 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,438 · +10.3% YoY. Source: county tax records.