Seven-Bedroom
For Sale
$349,900
1609 Rivermont Avenue, Lynchburg, VA 24503
MULTI_FAMILY - Lynchburg, VA
Property Size3,267 SF
Lot Size0.18 Acres
Price / SF$107.10
Days on Market10
Property Features for 1609 Rivermont Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 7, Bathroom 4, Bedroom 2, Bathroom 3, Bedroom 6, Bathroom 2
Subdivision
Middle Rivermont
Elementary school
Bedford Hills Elem
Middle school
Linkhorne Midl
High school
E. C. Glass High
Elementary school district
Lynchburg
Middle school district
Lynchburg
High school district
Lynchburg
Directions
Take Rivermont Ave to 1609.
Standard status
Active
APN
02114001
Size
3,267 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
DANIELSVILLE, BLK 47 OR 61
Legal Description
DANIELSVILLE, BLK 47 OR 61
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1912
Number of units
2
Listing Agency:
Keller Williams · Keller Williams Realty
(434) 534-9113
Listed By:
Noah Kessler · License #0225251355
(434) 401-6785
Added: Aug 13
Last Checked: Aug 22 at 5:06PM
MLS# 368610
Copyright © 2026 Lynchburg Virginia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,267-square-foot duplex, built in 1912, contains two residential units with a combined seven bedrooms and four bathrooms. The configuration offers substantial living space across both units, with heat pump systems serving heating and cooling needs. The property sits on a 0.1847-acre lot along Rivermont Avenue in Lynchburg.
The location provides access to Downtown Lynchburg, Randolph College, restaurants, shopping, and parks within the Rivermont area. The property can accommodate an owner-occupant arrangement with one unit used as a residence and the other providing additional space for occupancy or rental use.
The location provides access to Downtown Lynchburg, Randolph College, restaurants, shopping, and parks within the Rivermont area. The property can accommodate an owner-occupant arrangement with one unit used as a residence and the other providing additional space for occupancy or rental use.
Key Highlights
- Two‑unit duplex with 3,267 square feet
- Seven bedrooms and four bathrooms across the property
- Built in 1912 on a 0.1847‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,290
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$565,800
$565.8K
Cap Rate 7%
$404,143
$404.1K
Cap Rate 9%
$314,333
$314.3K
Market Conditions
NOI Build-Up for 3,267 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.1K $13.80/SF
− Vacancy
−$4.7K −$1.43/SF
EGI
$40.4K $12.37/SF
− OpEx
−$12.1K −$3.71/SF
NOI
$28.3K $8.66/SF
Area
Lynchburg County, VA
Vacancy
10.36%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$565,800
Cap Rate 7%
$404,143
Cap Rate 9%
$314,333
Alternative Uses
Best Use
Multifamily LT 5
$404.1K
$353.6K – $471.5K
NOI $28,290 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$370.5K
$324.2K – $432.3K
NOI $25,936 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$967.8K
$846.8K – $1.13M
NOI $67,745 @ 7.0% cap · market cap 19.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 24503, VA
19,810
Population
8,755
Households
2.3
Avg Household Size
44
Median Age
59%
College-Educated
96%
High-School Grad
36.7 sq mi
ZIP Area
540
Density / Sq Mi
$92,025
Median Household Income
$46,521
Median Earnings
$972
Median Rent
$320,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide flexible living arrangements along Rivermont Avenue near downtown amenities and Randolph College.
Where is this duplex located?
The property is located at 1609 Rivermont Avenue Lynchburg, VA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑unit duplex with 3,267 square feet; Seven bedrooms and four bathrooms across the property; Built in 1912 on a 0.1847‑acre lot
