1131 Rhode Island Ave · Lynchburg, VA 24502

$214,900

4 bd · 1.5 ba · 1,720 sqft · SingleFamily public records · 4 Days on market

Built 1935 0.26 ac lot Est $263k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• Livability +4.5/5.0
• DSCR +4.3/10.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

From the covered front porch to the large backyard this house exudes the feeling of home! A classic foursquare home layout, the foyer opens into impressive refinished hardwood floors, grand 9 1/2 foot ceilings, extra-large family room with built-in bookshelves, and a bright spacious dining room! The entry level also features kitchen with walk-in pantry, mud area with built-in coat racks, entry-level laundry, and half bath. Go up the extra wide, hardwood staircase to the upper level complete with 4 bedrooms and remodeled full bathroom with slate gray porcelain tile, new tub and surround, push button toilet, and beautiful double vanity. Don't forget the full walk-out basement with a bonus room and plenty of storage space! Move-in ready! Must See!!

Key facts

• Large backyard
• Unfinished basement
• Minutes from dining

Tags

• LARGE BACKYARD
• UNFINISHED BASEMENT
• MINUTES FROM SHOPPING
• MINUTES FROM DINING

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $32 ($382/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (19.9% below list).
• Recommended offer: $172k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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); Paul Laurence Dunbar Middle For Innovation (math 37% / reading 66%, grade C, #222 of 342 statewide, top 65%, 531 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 95% 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); 324 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 46d 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).
• This rent runs 30% of the median local income ($69k/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 $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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $172,237 (19.9% below list)

Questions for the listing agent

1. Built in 1935 — 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 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: 0.80% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $263,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1131 Rhode Island Ave	0.00mi	4/1.5	1,720 (0%)	1mo	$220,000	$128	99
411 Oakridge Blvd	0.32mi	3/2.0 (-1)	1,699 (-1%)	0mo	$270,000	$159	76
5031 Oxford St	0.63mi	4/2.0	1,710 (-1%)	4mo	$261,000	$153	64
510 Sussex St	0.51mi	3/2.0 (-1)	1,786 (+4%)	1mo	$210,000	$118	62
1504 Liggates Rd	0.33mi	3/1.5 (-1)	1,566 (-9%)	4mo	$279,900	$179	61
3311 Memorial Ave	0.60mi	4/2.0	1,641 (-5%)	3mo	$230,000	$140	60
4928 Windsor Ave	0.72mi	4/2.0	1,686 (-2%)	1mo	$310,000	$184	60
318 Westover Blvd	0.61mi	3/2.5 (-1)	1,730 (+1%)	2mo	$270,000	$156	60
4525 Brooklawn Cir	0.36mi	4/2.0	1,962 (+14%)	1mo	$230,000	$117	56
4532 Oakdale Dr	0.71mi	4/2.0	1,822 (+6%)	2mo	$243,000	$133	53
1128 Toledo Ave	0.55mi	3/1.5 (-1)	1,468 (-15%)	1mo	$245,000	$167	44
309 Yeardley Ave	0.65mi	3/1.5 (-1)	1,937 (+13%)	5mo	$272,500	$141	40

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: -13.2%
• Equity multiple: 0.52×
• Total profit: $-29,133
• Equity at exit: $32,042

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-7,047
• 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: 324
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,722 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$112 /mo · $1,348/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $32

Break-even live

Break-even rent $1,682

Max offer price $214,900

Occupancy floor 93%

Sensitivity live

Price	-10% $153	-5% $93	+0% $32	+5% $-29	+10% $-90
Rent	-10% $-104	-5% $-36	+0% $32	+5% $100	+10% $168
Rate	-1.0pp $140	-0.5pp $86	base $32	+0.5pp $-24	+1.0pp $-81

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 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4300 Tremont St Lynchburg, VA	3.0	1.0	1122	$1,200	$1.07	45d	1	0.13mi
1309 Radcliff Ave Lynchburg, VA	4.0	2.5	1658	$1,725	$1.04	45d	1	0.32mi
206 Connecticut Ave Lynchburg, VA	4.0	2.5	2180	$1,650	$0.76	23d	1	0.33mi
1009 Lindsay St Lynchburg, VA	3.0	2.0	1050	$1,800	$1.71	45d	1	0.62mi
310 Yeardley Ave Lynchburg, VA	4.0	2.5	1888	$1,800	$0.95	23d	1	0.70mi
101 Thomas Rd Unit A Lynchburg, VA	3.0	1.0	1530	$1,395	$0.91	45d	1	0.73mi
1116 Chestnut Hill Dr Lynchburg, VA	4.0	2.0	1818	$1,895	$1.04	45d	1	0.74mi
1116 Chestnut Hill Dr Lynchburg, VA	4.0	2.0	1818	$2,095	$1.15	15d	1	0.74mi
106 Yeardley Ave Unit B Lynchburg, VA	3.0	1.0	1060	$895	$0.84	23d	1	0.81mi
4612 Greenwood Dr Lynchburg, VA	3.0	1.0	1257	$1,595	$1.27	23d	1	0.85mi
4624 Ferncliff Dr Lynchburg, VA	3.0	2.0	2064	$1,700	$0.82	45d	1	0.90mi
2920 Richmond St Lynchburg, VA	4.0	1.0	1472	$1,695	$1.15	23d	1	1.08mi
5621 Killarney Pl Lynchburg, VA	3.0	1.0	1180	$1,575	$1.33	15d	1	1.08mi
913 Sandusky Dr Lynchburg, VA	4.0	3.0	2200	$2,200	$1.00	15d	1	1.12mi
320 Kenyon St Lynchburg, VA	3.0	2.0	1736	$1,595	$0.92	45d	1	1.12mi
5900 Fort Ave Lynchburg, VA	3.0	3.0	1221	$1,595	$1.31	45d	1	1.29mi
5900 Fort Ave Lynchburg, VA	3.0	3.0	1200	$1,595	$1.33	23d	1	1.29mi
5900 Edgewood Ave Lynchburg, VA	3.0	1.0	1528	$1,400	$0.92	15d	1	1.31mi
403 Grove St Lynchburg, VA	3.0	2.0	1400	$1,600	$1.14	45d	1	1.38mi
2269 Aragon St Lynchburg, VA	3.0	2.0	1200	$1,695	$1.41	45d	1	1.38mi
2518 Carter St Lynchburg, VA	3.0	2.0	1091	$1,500	$1.37	45d	1	1.48mi
630 Park Ln Lynchburg, VA	4.0	1.5	1434	$1,895	$1.32	15d	1	1.48mi

Listing history 7 events

1. 2026-04-21
   status Pending
2. 2026-04-17
   listed $214,900 Active
3. 2022-01-04
   soldstatus $217,200
4. 2021-12-29
   soldstatus $217,200 755-char remark

   Show marketing remark (755 chars)

   From the covered front porch to the large backyard this house exudes the feeling of home! A classic foursquare home layout, the foyer opens into impressive refinished hardwood floors, grand 9 1/2 foot ceilings, extra-large family room with built-in bookshelves, and a bright spacious dining room! The entry level also features kitchen with walk-in pantry, mud area with built-in coat racks, entry-level laundry, and half bath. Go up the extra wide, hardwood staircase to the upper level complete with 4 bedrooms and remodeled full bathroom with slate gray porcelain tile, new tub and surround, push button toilet, and beautiful double vanity. Don't forget the full walk-out basement with a bonus room and plenty of storage space! Move-in ready! Must See!!

5. 2021-11-24
   listed $210,000 755-char remark

   Show marketing remark (755 chars)

   From the covered front porch to the large backyard this house exudes the feeling of home! A classic foursquare home layout, the foyer opens into impressive refinished hardwood floors, grand 9 1/2 foot ceilings, extra-large family room with built-in bookshelves, and a bright spacious dining room! The entry level also features kitchen with walk-in pantry, mud area with built-in coat racks, entry-level laundry, and half bath. Go up the extra wide, hardwood staircase to the upper level complete with 4 bedrooms and remodeled full bathroom with slate gray porcelain tile, new tub and surround, push button toilet, and beautiful double vanity. Don't forget the full walk-out basement with a bonus room and plenty of storage space! Move-in ready! Must See!!

6. 1977-06-02
   soldstatus $31,000
7. 1973-06-30
   soldstatus $22,900

ⓘ 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: $1,348 · $112/mo
• Projected year-2 tax: $1,762 · $147/mo
• Expected delta: +$414/yr (+$34/mo · 30.7%)

ⓘ 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: $20,668
• − Mortgage interest: −$12,038
• − Property taxes: −$1,348
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$6,252
• Taxable loss: −$3,351
• Est. tax savings @ 24.0%: +$804
• After-tax cash flow: $1,186/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

+838.4% since first listed

7 events — show timeline

• 2026-04-21 Pending — LMLS
• 2026-04-17 Listed $214,900 LMLS
• 2022-01-04 Sold (Public Records) $217,200 Public Records
• 2021-12-29 Sold (MLS) $217,200 MLSRV
• 2021-11-24 Listed $210,000 MLSRV
• 1977-06-02 Sold (Public Records) $31,000 Public Records
• 1973-06-30 Sold (Public Records) $22,900 Public Records

Property tax history

+0.8%/yr

Latest (2022): $1,348 · -7.2% YoY. Source: county tax records.