Renovated Duplex with Heat
New
For Sale
$239,900
1810-1812 Ozone Court, Lynchburg, VA 24503
Multi-Family, Lynchburg, VA
Property Size1,800 SF
Lot Size0.17 Acres
Price / SF$133.28
Days on Market2
Property Features for 1810-1812 Ozone Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1
Parking features
Off Street
Subdivision
Bedford Ave
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
Bedford Ave to Grayson St. to Ozone Ct.
Standard status
Active
APN
02119035
Size
1,800 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
DANIELSVILLE, BLK 67 OR 48
Tax Annual Amount
1305
Legal Description
DANIELSVILLE, BLK 67 OR 48
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
appliances
washer/dryer
Building Details
Year built
1975
Number of units
2
Listing Agency:
Mark A. Dalton & Co., Inc.
(434) 841-8405
Listed By:
Matt G Durand · License #0225204692
(434) 237-6267
Added: Sep 24
Last Checked: Sep 25 at 6:06AM
MLS# 369352
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 rental units totaling 1,800 square feet on a 0.1655-acre lot. Built in 1975, both units received renovations around 2013, including updated flooring, appliances, cabinets, bathrooms, windows, water heaters, sheetrock, and spray-foam insulation. Heat pumps provide heating and cooling. Each unit has two off-street parking spaces, and the appliances, including washers and dryers, are included. A new roof is to be installed before closing with an acceptable offer.
The property is at the end of Ozone Court in Lynchburg, within the Bedford Avenue corridor. Randolph College, downtown Lynchburg, and Boonsboro are identified as nearby destinations. Zoning is R-3.
Both units are occupied and have one-year leases. Electric service is separately metered for each unit; the property has one water meter, and water is included in tenant rent.
The property is at the end of Ozone Court in Lynchburg, within the Bedford Avenue corridor. Randolph College, downtown Lynchburg, and Boonsboro are identified as nearby destinations. Zoning is R-3.
Both units are occupied and have one-year leases. Electric service is separately metered for each unit; the property has one water meter, and water is included in tenant rent.
Key Highlights
- Two rental units totaling 1,800 square feet
- 0.1655‑acre site; zoned R‑3
- Both units renovated around 2013, including bathrooms, cabinets, windows, and water heaters
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
$15,587
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
6.50%
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%
$311,740
$311.7K
Cap Rate 7%
$222,671
$222.7K
Cap Rate 9%
$173,189
$173.2K
Market Conditions
NOI Build-Up for 1,800 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
$24.8K $13.80/SF
− Vacancy
−$2.6K −$1.43/SF
EGI
$22.3K $12.37/SF
− OpEx
−$6.7K −$3.71/SF
NOI
$15.6K $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%
$311,740
Cap Rate 7%
$222,671
Cap Rate 9%
$173,189
Alternative Uses
Best Use
Multifamily LT 5
$222.7K
$194.8K – $259.8K
NOI $15,587 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$204.1K
$178.6K – $238.2K
NOI $14,290 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$533.2K
$466.6K – $622.1K
NOI $37,325 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
281
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied rental units have separate electric meters, off-street parking, and appliances that include washers and dryers.
Where is this duplex located?
The property is located at 1810-1812 Ozone Court Lynchburg, VA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two rental units totaling 1,800 square feet; 0.1655‑acre site; zoned R‑3; Both units renovated around 2013, including bathrooms, cabinets, windows, and water heaters
