2003 Main St · Lynchburg, VA 24504

$150,000

3 bd · 1.0 ba · 1,694 sqft · SingleFamily public records · 82 Days on market

Built 1908 4,931 sqft lot $89/sqft · at area comps Est $155k · at est.

---

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 +22.5/30.0
• ARV discount +9.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.1/10.0
• Livability +4.5/5.0
• Schools +4.0/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stop overpaying for rent and start building equity in a neighborhood that's growing and evolving. Own a piece of the downtown action in this move-in-ready, 3-bedroom home located just minutes from everything. This corner-lot property is a great find, just blocks from the amenities offered downtown. It's the perfect setup for a first-time buyer or someone looking for a high-demand rental without the typical fixer-upper headaches. The heavy lifting is already finished- newer roof, updated plumbing and electric, and a newer water heater. The layout feels solid and intentional, featuring a massive ornate mantle in the living room and a dedicated dining area for actual sit-down meals. The large rear mudroom keeps the laundry tucked out of sight. Don't miss your opportunity, schedule your tour today!

Key facts

• Newer roof
• Updated electric
• Corner-lot property

Tags

• CORNER-LOT PROPERTY
• NEWER ROOF
• UPDATED PLUMBING
• UPDATED ELECTRIC
• NEWER WATER HEATER
• MASSIVE ORNATE MANTLE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% 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.
• Market conditions: Rents rising fast (+4.6%/yr); 110 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 472 units permitted in Lynchburg city in 2024 (240 in 5+ unit buildings).
• This rent runs 35% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 82 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $9k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1908 — 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 $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.01% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.21%
• DSCR: 1.32
• GRM: 8.2

CMA / ARV

• ARV (median comp): $155,203
• List price: $150,000
• Delta: -3.35%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1706 Union St	0.26mi	3/2.0	1,720 (+2%)	6mo	$85,000	$49	76
509 Franklin St St	0.27mi	3/2.0	1,860 (+10%)	2mo	$180,000	$97	66
1009 16th St. St	0.61mi	3/1.0	1,730 (+2%)	8mo	$189,900	$110	62
2032 Poplar St	0.30mi	3/2.0	1,507 (-11%)	4mo	$204,000	$135	60
1109 Harrison St	0.71mi	3/1.0	1,650 (-3%)	4mo	$265,000	$161	59
100 Buena Vista St	0.16mi	3/1.0	1,500 (-12%)	19mo	$115,375	$77	58
1701 Taylor St	0.66mi	3/2.5	1,734 (+2%)	18mo	$154,900	$89	44
1212 Virginia St	0.50mi	3/2.0	1,887 (+11%)	18mo	$57,000	$30	38
1011 16th Street St	0.62mi	4/1.5 (+1)	1,856 (+10%)	13mo	$235,000	$127	38
2108 Preston St	0.49mi	4/2.0 (+1)	1,496 (-12%)	14mo	$218,000	$146	37
1603 Taylor St	0.69mi	3/1.5	1,948 (+15%)	6mo	$90,500	$46	36
1101 Harrison St	0.73mi	3/2.5	1,520 (-10%)	18mo	$359,000	$236	28

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 · 4.56% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-5,852
• Equity at exit: $22,365

10-year hold

• IRR: 7.6%
• Equity multiple: 1.61×
• Total profit: $25,698
• Equity at exit: $12,969

Cash invested: $42,000 (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 24504

• Home prices YoY: -12.7%
• Rents YoY: 4.6%
• Active inventory: 110
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,516 high
• Mortgage (P&I): −$787
• Tax from tax record: −$96 /mo · $1,151/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $252

Break-even live

Break-even rent $1,196

Max offer price $150,000

Occupancy floor 78%

Sensitivity live

Price	-10% $337	-5% $295	+0% $252	+5% $210	+10% $167
Rent	-10% $133	-5% $192	+0% $252	+5% $312	+10% $372
Rate	-1.0pp $328	-0.5pp $290	base $252	+0.5pp $213	+1.0pp $174

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1500 Main St Lynchburg, VA	1.0–2.0	1.0	1182	$1,600	$1.35	14d	6	0.35mi
1701 Grace St Lynchburg, VA	4.0	2.0	2173	$1,495	$0.69	14d	1	0.54mi
1316 Harrison St Lynchburg, VA	3.0	1.5	1535	$1,500	$0.98	45d	1	0.58mi
1521 Taylor St Lynchburg, VA	3.0	1.0	1337	$1,195	$0.89	22d	1	0.70mi
1308 16th St Lynchburg, VA	3.0	2.0	1380	$1,800	$1.30	14d	1	0.75mi
1518 Fillmore St Lynchburg, VA	3.0	2.5	1560	$1,800	$1.15	14d	1	0.84mi
1514 Fillmore St Lynchburg, VA	3.0	2.5	1560	$1,800	$1.15	14d	1	0.85mi
1415 Floyd St Lynchburg, VA	3.0	2.0	1300	$1,800	$1.38	22d	1	0.85mi
1110 11th St Lynchburg, VA	3.0	1.5	2000	$1,450	$0.72	14d	1	0.88mi
900 Polk St Unit A Lynchburg, VA	3.0	1.0	1100	$895	$0.81	14d	1	0.93mi
1008 8th St Lynchburg, VA	3.0	2.0	1316	$1,795	$1.36	22d	1	1.02mi
1219 Pierce St Unit 1221 Lynchburg, VA	2.0	1.0	1168	$825	$0.71	14d	1	1.02mi
812 Taylor St Lynchburg, VA	3.0	2.0	1872	$1,950	$1.04	14d	1	1.03mi
1105 Fillmore St Unit B Lynchburg, VA	3.0	1.0	1300	$1,250	$0.96	45d	1	1.03mi
601 Jackson St Lynchburg, VA	3.0	2.0	1138	$1,595	$1.40	45d	1	1.10mi
1401 Kemper St Lynchburg, VA	2.0–3.0	2.0	1118	$1,167	$1.04	22d	6	1.13mi
512 Polk St Lynchburg, VA	3.0	1.0	1340	$1,295	$0.97	22d	1	1.16mi
800 Pierce St Lynchburg, VA	4.0	1.0	1714	$1,295	$0.76	45d	1	1.21mi
2518 Carter St Lynchburg, VA	3.0	2.0	1091	$1,500	$1.37	45d	1	1.38mi
2269 Aragon St Lynchburg, VA	3.0	2.0	1200	$1,695	$1.41	45d	1	1.38mi
710 Grady St Unit B Lynchburg, VA	2.0	1.0	1872	$795	$0.42	14d	1	1.42mi

Listing history 29 events

1. 2026-06-21
   days on market $150,000 Active 82 DOM
2. 2026-06-19
   days on market $150,000 Active 80 DOM
3. 2026-06-18
   days on market $150,000 Active 79 DOM
4. 2026-06-17
   days on market $150,000 Active 78 DOM
5. 2026-06-16
   days on market $150,000 Active 77 DOM
6. 2026-06-15
   days on market $150,000 Active 76 DOM
7. 2026-06-14
   days on market $150,000 Active 74 DOM
8. 2026-06-13
   days on market $150,000 Active 73 DOM
9. 2026-06-10
   days on market $150,000 Active 71 DOM
10. 2026-06-09
    days on market $150,000 Active 70 DOM
11. 2026-06-08
    days on market $150,000 Active 69 DOM
12. 2026-06-07
    days on market $150,000 Active 68 DOM
13. 2026-06-03
    days on market $150,000 Active 64 DOM
14. 2026-06-02
    days on market $150,000 Active 63 DOM
15. 2026-06-01
    days on market $150,000 Active 62 DOM
16. 2026-05-31
    days on market $150,000 Active 61 DOM
17. 2026-05-30
    days on market $150,000 Active 60 DOM
18. 2026-04-10
    price $150,000 805-char remark

    Show marketing remark (805 chars)

    Stop overpaying for rent and start building equity in a neighborhood that's growing and evolving. Own a piece of the downtown action in this move-in-ready, 3-bedroom home located just minutes from everything. This corner-lot property is a great find, just blocks from the amenities offered downtown. It's the perfect setup for a first-time buyer or someone looking for a high-demand rental without the typical fixer-upper headaches. The heavy lifting is already finished- newer roof, updated plumbing and electric, and a newer water heater. The layout feels solid and intentional, featuring a massive ornate mantle in the living room and a dedicated dining area for actual sit-down meals. The large rear mudroom keeps the laundry tucked out of sight. Don't miss your opportunity, schedule your tour today!

19. 2026-03-31
    listed $159,000 Active 805-char remark

    Show marketing remark (805 chars)

    Stop overpaying for rent and start building equity in a neighborhood that's growing and evolving. Own a piece of the downtown action in this move-in-ready, 3-bedroom home located just minutes from everything. This corner-lot property is a great find, just blocks from the amenities offered downtown. It's the perfect setup for a first-time buyer or someone looking for a high-demand rental without the typical fixer-upper headaches. The heavy lifting is already finished- newer roof, updated plumbing and electric, and a newer water heater. The layout feels solid and intentional, featuring a massive ornate mantle in the living room and a dedicated dining area for actual sit-down meals. The large rear mudroom keeps the laundry tucked out of sight. Don't miss your opportunity, schedule your tour today!

20. 2023-07-21
    soldstatus $141,350
21. 2023-07-20
    soldstatus $141,350 Closed 808-char remark

    Show marketing remark (808 chars)

    Get in now before the downtown market grows even more in value and demand! Just a short walk to RA Bistro, Waterstone Pizza or the Bluff walk. Would make a great home or investment property. Sitting on a corner lot with many renovations having been done in the last five years including roof, flooring, paint, water heater, light fixtures, electrical, plumbing and so much more. On your main level you have a living room with older ornate style mantle piece along with a separate formal dining room. The Kitchen was updated and all kitchen appliances convey to new owner. Off the rear is a mud room that also doubles as the laundry space. Upstairs are three bedrooms of which the smallest was converted to a closet but could easily be made back into a bedroom. Don't miss your chance on this affordable home.

22. 2023-06-02
    status Pending 808-char remark

    Show marketing remark (808 chars)

    Get in now before the downtown market grows even more in value and demand! Just a short walk to RA Bistro, Waterstone Pizza or the Bluff walk. Would make a great home or investment property. Sitting on a corner lot with many renovations having been done in the last five years including roof, flooring, paint, water heater, light fixtures, electrical, plumbing and so much more. On your main level you have a living room with older ornate style mantle piece along with a separate formal dining room. The Kitchen was updated and all kitchen appliances convey to new owner. Off the rear is a mud room that also doubles as the laundry space. Upstairs are three bedrooms of which the smallest was converted to a closet but could easily be made back into a bedroom. Don't miss your chance on this affordable home.

23. 2023-05-10
    status Active 808-char remark

    Show marketing remark (808 chars)

    Get in now before the downtown market grows even more in value and demand! Just a short walk to RA Bistro, Waterstone Pizza or the Bluff walk. Would make a great home or investment property. Sitting on a corner lot with many renovations having been done in the last five years including roof, flooring, paint, water heater, light fixtures, electrical, plumbing and so much more. On your main level you have a living room with older ornate style mantle piece along with a separate formal dining room. The Kitchen was updated and all kitchen appliances convey to new owner. Off the rear is a mud room that also doubles as the laundry space. Upstairs are three bedrooms of which the smallest was converted to a closet but could easily be made back into a bedroom. Don't miss your chance on this affordable home.

24. 2023-04-19
    status Pending 808-char remark

    Show marketing remark (808 chars)

    Get in now before the downtown market grows even more in value and demand! Just a short walk to RA Bistro, Waterstone Pizza or the Bluff walk. Would make a great home or investment property. Sitting on a corner lot with many renovations having been done in the last five years including roof, flooring, paint, water heater, light fixtures, electrical, plumbing and so much more. On your main level you have a living room with older ornate style mantle piece along with a separate formal dining room. The Kitchen was updated and all kitchen appliances convey to new owner. Off the rear is a mud room that also doubles as the laundry space. Upstairs are three bedrooms of which the smallest was converted to a closet but could easily be made back into a bedroom. Don't miss your chance on this affordable home.

25. 2023-04-14
    listed $134,900 Active 808-char remark

    Show marketing remark (808 chars)

    Get in now before the downtown market grows even more in value and demand! Just a short walk to RA Bistro, Waterstone Pizza or the Bluff walk. Would make a great home or investment property. Sitting on a corner lot with many renovations having been done in the last five years including roof, flooring, paint, water heater, light fixtures, electrical, plumbing and so much more. On your main level you have a living room with older ornate style mantle piece along with a separate formal dining room. The Kitchen was updated and all kitchen appliances convey to new owner. Off the rear is a mud room that also doubles as the laundry space. Upstairs are three bedrooms of which the smallest was converted to a closet but could easily be made back into a bedroom. Don't miss your chance on this affordable home.

26. 2019-03-21
    soldstatus $48,000
27. 2018-08-24
    listed $54,900
28. 1991-07-11
    soldstatus $33,570
29. 1990-11-19
    soldstatus $33,570

ⓘ 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: $1,151 · $96/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$79/yr (+$7/mo · 6.9%)

ⓘ 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: $18,188
• − Mortgage interest: −$8,402
• − Property taxes: −$1,151
• − Insurance: −$750
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − Depreciation: −$4,364
• Taxable income: $611
• Est. tax owed @ 24.0%: −$147
• After-tax cash flow: $2,882/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): 9,632
• Household income: $52,571
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 552.0

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 0.57)
• Race & ethnicity: White 51% Black 40% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Italian 3% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Chinese 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: ▼ -33.39%
• Current HPI: 229.4423
• Rent YoY: ▲ 4.56%
• 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

+346.8% since first listed

12 events — show timeline

• 2026-04-10 Price Changed $150,000 LMLS
• 2026-03-31 Listed $159,000 LMLS
• 2023-07-21 Sold (Public Records) $141,350 Public Records
• 2023-07-20 Sold (MLS) $141,350 LMLS
• 2023-06-02 Pending — LMLS
• 2023-05-10 Relisted — LMLS
• 2023-04-19 Pending — LMLS
• 2023-04-14 Listed $134,900 LMLS
• 2019-03-21 Sold (MLS) $48,000 LMLS
• 2018-08-24 Listed $54,900 LMLS
• 1991-07-11 Sold (Public Records) $33,570 Public Records
• 1990-11-19 Sold (Public Records) $33,570 Public Records

Property tax history

+12.9%/yr

Latest (2025): $1,151 · +0.5% YoY. Source: county tax records.