Spacious Duplex
For Sale
$349,900
1609 Rivermont Avenue, Lynchburg, VA 24503
Two-unit residential income property with substantial living areas and an owner-occupant configuration.
Property Size3,267 SF
Price / SF$107.10
Days on Market48
Property Features for 1609 Rivermont Avenue
General Information
Standard status
Active
Size
3,267 SF
Property subtype
Multi-Family
Building Details
Year Built
1912
Tenancy
Multi
Listing Agency:
Cornerstone Realty Group Inc
Listed By:
Karl Miller Realty
(434) 239-2394
Source:
Karlmillerrealty
Added: Aug 21
Changed: Oct 6
Last Checked: Oct 5 at 6:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cornerstone Realty Group Inc
Investment Insights
Based on property information with market context.
Located at 1609 Rivermont Avenue in Lynchburg, this duplex property contains 3,267 square feet and is arranged as two residential units. Each unit offers generous living space intended for comfortable day-to-day use, providing a practical layout for separate occupants.
The property is positioned along Rivermont Avenue with access to Downtown Lynchburg, Randolph College, restaurants, shopping, and parks. Its two-unit configuration supports an owner-occupant arrangement with additional space for income, as well as separate use by residential occupants.
The property is positioned along Rivermont Avenue with access to Downtown Lynchburg, Randolph College, restaurants, shopping, and parks. Its two-unit configuration supports an owner-occupant arrangement with additional space for income, as well as separate use by residential occupants.
Key Highlights
- Duplex classification with two residential units
- 3,267 square feet of total property size
- Each unit features generous living space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,290
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
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
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 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
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Current Use
Lease Details
Multi-tenant
Tenancy
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
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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 - Two-unit residential income property with substantial living areas and an owner-occupant configuration.
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: Duplex classification with two residential units; 3,267 square feet of total property size; Each unit features generous living space
