Updated Duplex with Basement
For Sale
$279,900
2800-2802 Kulman, Lynchburg, VA 24501
Multi-Family, Lynchburg, VA
Property Size1,578 SF
Lot Size0.36 Acres
Price / SF$177.38
Days on Market56
Property Features for 2800-2802 Kulman
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2
Parking features
On Street
Subdivision
Kulman Place
Elementary school
Dearington Elem
Middle school
Linkhorne Midl
High school
E. C. Glass High
Elementary school district
Lynchburg
Middle school district
Lynchburg
High school district
Lynchburg
Directions
Left on to Kulman from Langhorne, first house on the left.
Standard status
Active
APN
01604001
Size
1,578 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
LANGHORNE TERRACE, LOT 1
Legal Description
LANGHORNE TERRACE, LOT 1
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1959
Number of units
2
Listing Agency:
Mark A. Dalton & Co., Inc.
(434) 841-8405
Listed By:
Mark LaMontagne
(434) 237-6267
Added: Aug 13
Changed: Sep 13
Last Checked: Oct 7 at 2:06AM
MLS# 368570
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 duplex contains two updated units within a 1,578-square-foot property built in 1959. Improvements include refreshed kitchens, new flooring, and updated paint. Each side has its own large unfinished basement, providing separate storage areas and additional unfinished space. The units are separately metered and include heat-pump heating and cooling. On-street parking is available.
The property sits in Lynchburg near the medical corridor, Wards Road, and 221-area amenities. The lot encompasses 0.3572 acres. The two-unit configuration offers separate living spaces with distinct basement areas, supporting both residential occupancy and rental use as described in the property information.
The property sits in Lynchburg near the medical corridor, Wards Road, and 221-area amenities. The lot encompasses 0.3572 acres. The two-unit configuration offers separate living spaces with distinct basement areas, supporting both residential occupancy and rental use as described in the property information.
Key Highlights
- Two updated residential units in a 1,578‑square‑foot duplex
- Separate electric meters for each unit
- Large unfinished basement on each side
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,664
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,280
$273.3K
Cap Rate 7%
$195,200
$195.2K
Cap Rate 9%
$151,822
$151.8K
Market Conditions
NOI Build-Up for 1,578 SF
Gross rent
$21.8K $13.80/SF
− Vacancy
−$2.3K −$1.43/SF
EGI
$19.5K $12.37/SF
− OpEx
−$5.9K −$3.71/SF
NOI
$13.7K $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 Rate 5%
$273,280
Cap Rate 7%
$195,200
Cap Rate 9%
$151,822
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.7K
NOI $13,664 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$179.0K
$156.6K – $208.8K
NOI $12,527 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$467.4K
$409.0K – $545.4K
NOI $32,721 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 24501, VA
27,160
Population
12,157
Households
2.2
Avg Household Size
33
Median Age
25%
College-Educated
87%
High-School Grad
36.3 sq mi
ZIP Area
748
Density / Sq Mi
$45,305
Median Household Income
$28,790
Median Earnings
$936
Median Rent
$155,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with separate meters, unfinished basement storage, and proximity to Lynchburg’s medical corridor.
Where is this duplex located?
The property is located at 2800-2802 Kulman Lynchburg, VA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two updated residential units in a 1,578‑square‑foot duplex; Separate electric meters for each unit; Large unfinished basement on each side
