NOT LISTED FOR SALE

1208 Commerce St Unit 403 Lynchburg, VA 24504

Central Business District Neighborhood

Estimated Value: $582,000 - $633,000

2 Beds
2 Baths
1,592 Sq Ft
$376/mo HOA Fee

Last Sold February 19, 2021

Last sale price $470,248 $295 Per Sq Ft

Est. 23% increase in value since last sale

Current estimated payment $3,893/month

71 Days on Market

Highlights

  • Water Views
  • River Nearby
  • Fireplace
  • 0.04 Acre Lot
  • Great Room
  • 4-minute walk to Riverfront Park

About This Home

As of February 2021

Parkview On The Bluff is downtown Lynchburg's newest luxury condominium development and offers a rare opportunity to own new construction in a prime bluffwalk location! Condo has 10ft ceilings and a private balcony overlooking the bluff walk and riverfront area. Interior finishes include an open kitchen with island and pantry, living area with wonderful views, a linear gas fireplace, and large windows plus a separate dining or office. Master bedroom has a huge walk-in closet plus an additional closet in bath. Parkview on the Bluff has a private owners' elevator and rooftop terrace. Other amenities include 1 on-site parking space, secured building, a restaurant on the bluff walk level and a rooftop restaurant overlooking the river, mountains, and park. This development has also qualified for the City's infill property tax abatement program with a 10-year 50% reduction based on the initial assessed value. What a tremendous incentive!

Last Agent to Sell the Property

Terri Proffitt

Consensus Real Estate Service License #0225105463 Listed on: 08/26/2020

Last Buyer's Agent

Moyanne Harding

Keller Williams License #0225239748

Keller Williams

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,641

Year Built

  • Home Under Construction

Lot Details

  • 1,525

HOA Fees

  • $376 Monthly HOA Fees

Property Views

  • Water
  • City
  • Mountain

Home Design

  • Slab Foundation

Interior Spaces

  • 1,592 Sq Ft Home
  • 1-Story Property
  • Fireplace
  • Great Room
  • Home Security System
  • Laundry on main level

Kitchen

  • Gas Range
  • Microwave
  • Dishwasher
  • Disposal

Flooring

  • Ceramic Tile
  • Vinyl Plank

Bedrooms and Bathrooms

  • 2 Bedrooms
  • En-Suite Primary Bedroom
  • Walk-In Closet
  • 2 Full Bathrooms
  • Bathtub Includes Tile Surround

Outdoor Features

  • River Nearby

Schools

  • Sandusky Elementary School
  • Sandusky Midl Middle School
  • Heritage High School

Utilities

  • Heat Pump System
  • Electric Water Heater
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 04603029

Community Details

Overview

  • Association fees include exterior maintenance, grounds maintenance, insurance, parking, roof, snow removal, trash
  • Central Business District Subdivision

Security

  • Fire and Smoke Detector

Property Details

Home Type

Condominium

Est. Annual Taxes

$2,641

Year Built

Home Under Construction

Lot Details

0

HOA Fees

$376 per month

Listing Details

  • FILLACRES: 0.0350
  • AssocFeeOptional: Required
  • Directions: Commerce Street in downtown Lynchburg
  • ElementarySchool7: Sandusky Elem
  • HighSchool7: Heritage High
  • Internet Providers: Comcast/Xfinity
  • Lot Measurement: Acres
  • Lot Sq Ft: 1525.00
  • MiddleSchool7: Sandusky Midl
  • Days On Market: No
  • Property Subtype1: Condominium
  • Prop. Type: Residential
  • OFFICELIST_STATE: VA
  • TaxMapParcelID: 04603029
  • Year Built: 9999
  • Heating System: Heat Pump
  • Building Stories: One
  • Estimated Completion: 2020-11-01
  • Laundryroom Dim: 0.000 x 0.000
  • Living Room Dim: 30.000 x 17.000
  • Livingroom Len: 30.000
  • Livingroom Wid: 17.000
  • Masterbedroom Area: 210.000000
  • Master Bedroom Dim: 15.000 x 14.000
  • Masterbedroom Len: 15.000
  • Masterbedroom Wid: 14.000
  • Office Dim: 0.000 x 0.000
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Basement Bathrooms: 2.00
  • Bathrooms Display: 2 (2 0)
  • Lower Floor 1 Bedrooms: 2
  • Broker Approved: Yes
  • Legal Description: Downtown BLK 112, Parkview On The Bluff, 403
  • Reciprocal Listing: No
  • Second Bedroom: 11.50x11.50 Level: Level 1 Above Grade
  • Second Bedroom Area: 132.250000
  • Above Grade Finished Sq Ft: 1592.00
  • ApplianceConvey: Dishwasher, Disposal, Microwave, Range-Gas, Refrigerator
  • Has Attic: None
  • Has Basement: Slab
  • Flooring: Ceramic Tile, Vinyl Plank
  • Year Built Exception: 0
  • Fireplace: 1 Fireplace
  • Level 1 Full Bathrooms: 2
  • Interior Amenities: Cable Available, Cable Connections, Great Room, Main Level Bedroom, Master Bed w/ Bath, Pantry, Security System, Smoke Alarm, Tile Bath(s), Walk-In Closet(s)
  • Dining Kitchen: 14x12 Level: Level 1 Above Grade
  • Laundry: Laundry Closet, Main Level
  • Living Room: 30x17 Level: Level 1 Above Grade
  • Master Bedroom: 15x14 Level: Level 1 Above Grade
  • Porch: 6x20 Level: Level 1 Above Grade
  • Livinggreat Room Dim: 0.000 x 0.000
  • Kitchen Area: 168.000000
  • LivingRoom Area: 510.000000
  • Est Other Room1 Dim: 0.000 x 0.000
  • Est Other Room2 Dim: 0.000 x 0.000
  • Est Other Room3 Dim: 0.000 x 0.000
  • Rec Room Dim: 0.000 x 0.000
  • Sunroom Dim: 0.000 x 0.000

Exterior Features

  • Roof: Other
  • New Construction: Under Construction
  • Exterior Features: City View, River Nearby, Water View, Insulated Glass, Mountain Views

Garage/Parking

  • Garage Dim: 0.000 x 0.000

Utilities

  • Utility Electric: AEP/Appalachian Powr
  • Air Conditioner: Heat Pump
  • Sewer: City
  • Hot Water: City
  • Water Heater: Electric

Condo/Co-op/Association

  • HOA Fee Frequency: Monthly
  • HOA Includes: Exterior Maintenance, Grounds Maintenance, Insurance, Parking, Roof, Snow Removal, Trash
  • HOA: Lynchburg Board of Realtors
  • Association Fee: 376.00
  • Subdivision Complex: Central Business District

Association/Amenities

  • Entry Level Unit: 403

Schools

  • School District: Lynchburg
  • School District: Lynchburg

Lot Info

  • Lot Sq Ft: 1592.00
  • Zoning: B4

Tax Info

  • Estimated Taxes: 2641

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 26, 2020
Closed on
Jan 19, 2021
Sold by
1200Commercestreetlynchburg Llc
Bought by
Carter Robert W
Seller's Agent
Terri Proffitt
Consensus Real Estate Service
Buyer's Agent
Moyanne Harding
Keller Williams
List Price
$475,900
Sold Price
$470,248
Premium/Discount to List
-$5,652
-1.19%
Current Estimated Value
$578,083

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$107,835
Avg. Annual Appreciation
4.22%
Original Mortgage
$352,600
Outstanding Balance
$318,690
Interest Rate
2.65%
Mortgage Type
New Conventional
Estimated Equity
$246,998
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Carter Robert W $470,248 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Carter Robert W $352,600
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/19/2021 02/19/21 Sold $470,248 -1.2% $295 / Sq Ft
11/05/2020 11/05/20 Pending -- -- --
08/26/2020 08/26/20 For Sale $475,900 -- $299 / Sq Ft
Source: Lynchburg Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $4,228 $475,000 $63,400 $411,600
2023 $2,418 $475,000 $63,400 $411,600
2022 $2,483 $470,000 $63,400 $406,600
2021 $5,217 $470,000 $63,400 $406,600
2020 $704 $63,400 $63,400 $0
2019 $704 $63,400 $63,400 $0
Source: Public Records

Agents Affiliated with this Home

  • Terri Proffitt

    Seller's Agent in 2021

    Terri Proffitt

    Consensus Real Estate Service

    (434) 316-3471

    26 in this area

    37 Total Sales

    Section Image

  • M

    Buyer's Agent in 2021

    Moyanne Harding

    Keller Williams

    Section Image
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Map

Source: Lynchburg Association of REALTORS®

MLS Number: 326923

APN: 046-03-029

Virginia Lynchburg City County Lynchburg 24504 Central Business District

1208 Commerce St Unit 403, Lynchburg, VA

This home is located at 1208 Commerce St Unit 403, Lynchburg, VA 24504 since 26 August 2020 and is currently estimated at $611,090, approximately $383 per square foot. 1208 Commerce St Unit 403 is a home located in Lynchburg City with nearby schools including Sandusky Elementary School, Sandusky Middle School, and Heritage High School.

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