Spacious Duplex
For Sale
$349,900
1609 Rivermont Ave, 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 Market10
Property Features for 1609 Rivermont Ave
General Information
Standard status
Active
Size
3,267 SF
Property subtype
Residential Income
Building Details
Tenancy
Multi
Listing Agency:
Keller Williams
(434) 534-9113
Listed By:
Noah Kessler · License #0225251355
Source:
Exprealty
Added: Aug 13
Changed: Aug 22
Last Checked: Aug 22 at 12:08PM
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 Keller Williams
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 = 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
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
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-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 Ave 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
