NOT LISTED FOR SALE

1208 Commerce St Unit 503 Lynchburg, VA 24504

Central Business District Neighborhood

Estimated Value: $433,615 - $594,000

2 Beds
2 Baths
1,592 Sq Ft
1,525 Sq Ft Lot

Sale Details

Date Sold: January 15, 2021

Last sale price $490,026 $308 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $3,426 / mo

9 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 January 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

Terri Proffitt

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

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,708

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 04603032

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

$2,708

Year Built

Home Under Construction

Lot Details

1,525 Sq Ft Lot

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: 04603032
  • 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, 503
  • 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: 503

Schools

  • School District: Lynchburg

Lot Info

  • Lot Sq Ft: 1592.00
  • Zoning: B4

Tax Info

  • Estimated Taxes: 2708

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 26, 2020
Closed on
Feb 10, 2021
Sold by
Bought by
Seller's Agent
Terri Proffitt
Consensus Real Estate Service
Buyer's Agent
Terri Proffitt
Consensus Real Estate Service
List Price
$487,900
Sold Price
$490,026
Premium/Discount to List
$2,126
0.44%
Current Estimated Value
$529,290

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$39,264
Avg. Annual Appreciation
0.25%
Original Mortgage
$300,000
Interest Rate
0.0271%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 26, 2020
Closed on
Jan 15, 2021
Sold by
Bought by
Seller's Agent
Terri Proffitt
Consensus Real Estate Service
Buyer's Agent
Terri Proffitt
Consensus Real Estate Service
List Price
$487,900
Sold Price
$490,026
Premium/Discount to List
$2,126
0.44%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
0.0271%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Available
$490,026 None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Closed $300,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
01/15/2021 01/15/21 Sold $490,026 +0.4% $308 / Sq Ft
09/04/2020 09/04/20 Pending -- -- --
08/26/2020 08/26/20 For Sale $487,900 -- $306 / Sq Ft
Source: Lynchburg Association of REALTORS®

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2025 $2,297 $453,000 $50,000 $403,000
2024 $3,916 $440,000 $66,000 $374,000
2023 $2,318 $440,000 $66,000 $374,000
2022 $2,529 $425,000 $66,000 $359,000
2021 $4,718 $425,000 $66,000 $359,000
2020 $733 $66,000 $66,000 $0
2019 $733 $66,000 $66,000 $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

    18 in this area

    23 Total Sales

    Terri Proffitt
    Section Image
See All Agents

Map

Source: Lynchburg Association of REALTORS®

MLS Number: 326921

APN: 046-03-032

Virginia Lynchburg City County Lynchburg 24504 Central Business District

1208 Commerce St Unit 503, Lynchburg, VA

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed to be reliable but not guaranteed.

Nearby Homes
Your Personal Tour Guide

Ask me questions while you tour the home.