6000 Igloe Dr · Lynchburg, VA 24502

$309,900

4 bd · 3.0 ba · 2,700 sqft · MultiFamily public records · 16 Days on market

Built 1996 8,146 sqft lot

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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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.1/10.0
• Livability +4.5/5.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Great RETURN ON INVESTMENT!! Lots of updates, it's practically like buying new construction. Brick exterior and vinyl windows, large 2 bedroom, 1 1/2 bath units- this maintenance free duplex is very desirable. Each unit has a basement, in one side the basement has been finished and is currently used as an additional bedroom and the other side could be finished very easily. Both sides have their own electric meters however the current owner pays water. Each are currently rented ($756/mo side A, $735/mo side B. ) Please call to schedule your showing.

Key facts

• 8,146 sq ft lot
• Built 1996
• Listed 15 days

Property features AI

Finance

• Financial info: Annual property tax around $1,170

Exterior

• Home design: Multi-family residential income property
• Construction: Brick and vinyl siding exterior
• Exterior features: Approximately 0.187-acre lot; Directions: Fort Ave, left on Sandusky, immediate left on Igloe

Interior

• Bedrooms: Each unit has 2 bedrooms
• Interior features: Two 2-bedroom units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive. Per door: $258/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $310k).
• Recommended offer: $305k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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); 318 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 472 units permitted in Lynchburg city in 2024 (240 in 5+ unit buildings).
• At $3,119/mo this rent would consume 54% of the median local household income ($69k/yr) (locally 1774% 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 $2k of loan paydown is wiped out by about $9k 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 16 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 2 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 $165k; list at $310k implies a 88% gain — meaningful room to come down on a strong offer.

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 $305,251 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.11% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-10,701
• Equity at exit: $46,207

10-year hold

• IRR: 8.5%
• Equity multiple: 1.71×
• Total profit: $61,628
• Equity at exit: $26,794

Cash invested: $86,772 (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: 16.6×

Monthly cashflow live

• Estimated rent: $3,119 high
• Mortgage (P&I): −$1,625
• Tax from tax record: −$194 /mo · $2,332/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $515

Break-even live

Break-even rent $2,467

Max offer price $309,900

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,120
Total (2 units)			$3,119

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: $77,475
• Closing costs: $9,297
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 Sandusky Dr Lynchburg, VA	4.0	3.0	2200	$2,200	$1.00	13d	1	0.26mi
1116 Chestnut Hill Dr Lynchburg, VA	4.0	2.0	1818	$1,895	$1.04	44d	1	0.57mi
1116 Chestnut Hill Dr Lynchburg, VA	4.0	2.0	1818	$2,095	$1.15	13d	1	0.57mi
6048 Rhonda Rd Lynchburg, VA	3.0	3.0	2932	$2,450	$0.84	13d	1	1.07mi
104 Tulane St Lynchburg, VA	5.0	3.0	2764	$2,400	$0.87	13d	1	1.19mi
4624 Ferncliff Dr Lynchburg, VA	3.0	2.0	2064	$1,700	$0.82	44d	1	1.25mi
1600 Wards Ferry Rd #907 Lynchburg, VA	4.0	2.5	1782	$1,895	$1.06	44d	1	1.39mi
7222 Richland Dr Lynchburg, VA	4.0	2.0	2164	$1,950	$0.90	44d	1	1.48mi

Listing history 13 events

1. 2026-06-19
   days on market $309,900 Active 16 DOM
2. 2026-06-18
   days on market $309,900 Active 15 DOM
3. 2026-06-17
   days on market $309,900 Active 14 DOM
4. 2026-06-16
   days on market $309,900 Active 13 DOM
5. 2026-06-15
   days on market $309,900 Active 12 DOM
6. 2026-06-14
   days on market $309,900 Active 10 DOM
7. 2026-06-13
   days on market $309,900 Active 9 DOM
8. 2026-06-10
   days on market $309,900 Active 7 DOM
9. 2026-06-09
   days on market $309,900 Active 6 DOM
10. 2026-06-08
    days on market $309,900 Active 5 DOM
11. 2026-06-07
    days on market $309,900 Active 4 DOM
12. 2026-06-03
    remarks 222-char remark
13. 2026-06-03
    listed $309,900 Active 1 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: $2,332 · $194/mo
• Projected year-2 tax: $2,541 · $212/mo
• Expected delta: +$209/yr (+$17/mo · 9.0%)

ⓘ 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 ≥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: $37,428
• − Mortgage interest: −$17,359
• − Property taxes: −$2,332
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,994
• − Management: −$2,994
• − Depreciation: −$9,015
• Taxable income: $1,184
• Est. tax owed @ 24.0%: −$284
• After-tax cash flow: $5,901/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

+153.0% since first listed

6 events — show timeline

• 2026-06-03 Listed $309,900 LMLS
• 2017-03-01 Sold (MLS) $164,900 LMLS
• 2017-02-24 Sold (Public Records) $164,900 Public Records
• 2016-11-21 Listed $169,900 LMLS
• 2001-08-07 Sold (Public Records) $131,000 Public Records
• 2000-02-01 Sold (Public Records) $122,500 Public Records

Property tax history

+2.4%/yr

Latest (2025): $2,332 · +8.6% YoY. Source: county tax records.