NOT LISTED FOR SALE

131 Primrose Ln Lynchburg, VA 24501

Estimated Value: $253,636 - $318,000

4 Beds
4 Baths
2,080 Sq Ft
$142/Sq Ft Est. Value

Last Sold January 24, 2022

Last sale price $215,000 $103 Per Sq Ft

Est. 38% increase in value since last sale

Current estimated payment $1,742/month

11 Days on Market

About This Home

As of January 2022

GREAT Opportunity to Own Investment Property located in the City with R-3 zoning which I've been told allows for short term rentals (please verify prior to writing offers if looking for airbnb potential) Low Maintenance, City Water and Sewer, Bus Route, Medical, Schools and Shopping nearby. 131b has Newer Heatpump with recent compressor (this year) still under warranty, and reworked circuit board on 131a, both maintained regularly. Owner only pays ins, taxes, water/sewer/trash and lawncare. Both units in Great Shape, 131b long term tenant, both tenants with timely rental history. Owner provides Washer and Dryer for Each Unit, plus Storage Shed is divided in 2 to provide locked storage for each tenant, which is a wonderful addition to these already awesome rental units. **48hr notice required** 131a 1 yr lease through June 2022, 131b month to month with 60 day notice, both timely payment historty Pics from 131a before and after turn over June 2021 Both Units Occupied

Last Agent to Sell the Property

Ann Parker

DeWitt Real Estate & Auctions License #0225035649 Listed on: 11/04/2021

Last Buyer's Agent

CARLTON T WINGFIELD, JR

Wingfield Real Estate, Inc. License #0225103610

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,837

Year Built

  • Built in 2005

Lot Details

  • 8,973 Sq Ft Lot

Home Design

  • 2,080 Sq Ft Home

Flooring

  • Carpet
  • Vinyl

Parking

  • 2 Parking Spaces
  • Parking Lot
  • Off-Street Parking

Schools

  • Linkhorne Elementary School
  • Linkhorne Midl Middle School
  • E. C. Glass High School

Utilities

  • Heat Pump System
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number 22716016

Community Details

Overview

  • 2 Units
  • Hollywood Subdivision

Building Details

  • 1 Separate Water Meter
  • New Taxes Expense $516
  • Gross Income $17,700

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,837

Year Built

Built in 2005

Lot Details

0

Listing Details

  • FILLACRES: 0.2060
  • Directions: Old Forest Road to Primrose, to property on the Right
  • ElementarySchool7: Linkhorne Elem
  • HighSchool7: E. C. Glass High
  • Internet Providers: Comcast/Xfinity
  • Lot Measurement: Acres
  • Lot Sq Ft: 8973.00
  • MiddleSchool7: Linkhorne Midl
  • Days On Market: No
  • Property Subtype1: Multi-Family
  • Prop. Type: Multi-Family
  • OFFICELIST_STATE: VA
  • TaxMapParcelID: 22716016
  • Year Built: 2005
  • Heating System: Heat Pump
  • Unit Info Number Unfurnished Units: 2
  • Taxes Expense: 515.87
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Broker Approved: Yes
  • Legal Description: PRIMROSE PARK, RESUB LOT 4
  • Reciprocal Listing: No
  • Flooring: Carpet, Vinyl
  • Year Built Exception: 0
  • Walls: Drywall

Garage/Parking

  • Parking: 2 Spaces/Unit, Off Street Parking, Parking Lot, Paved Drive

Utilities

  • Utility Electric: American Electric
  • Cooling: Heat Pump
  • Sewer: City
  • Hot Water: City
  • Water Heater: Electric
  • Number Of Water Meters: 1

Condo/Co-op/Association

  • HOA: Lynchburg Board of Realtors
  • Subdivision Complex: Hollywood

Schools

  • School District: Lynchburg

Lot Info

  • Lot Sq Ft: 2080.00
  • Zoning: R-3

Rental Info

  • Types Of Leases: 1 Year Lease

Tax Info

  • Estimated Taxes: 1837

Multi Family

  • Annual Gross Income: 17700.00
  • Total Number Units: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 4, 2021
Closed on
Dec 17, 2021
Sold by
Edwards Jr James D and Edwards Kelly P
Bought by
Blue Mountain Property Rentals Llc
Seller's Agent
Ann Parker
DeWitt Real Estate & Auctions
Buyer's Agent
CARLTON T WINGFIELD, JR
Wingfield Real Estate, Inc.
List Price
$230,000
Sold Price
$215,000
Premium/Discount to List
-$15,000
-6.52%
Current Estimated Value
$295,909

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$80,909
Avg. Annual Appreciation
8.87%
Original Mortgage
$182,750
Outstanding Balance
$168,328
Interest Rate
3.22%
Mortgage Type
New Conventional
Estimated Equity
$127,581

Purchase Details

Closed on
Oct 18, 2005
Sold by
Maddox & Son Construction Inc
Bought by
Edwards James D and Edwards Kelly P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,350
Interest Rate
6.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 8, 2005
Sold by
Mcbride Marketing Inc
Bought by
Maddox & Son Construction Inc
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
Blue Mountain Property Rentals Llc $215,000 Wfg National Title
Edwards James D -- None Available
Maddox & Son Construction Inc -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Blue Mountain Property Rentals Llc $182,750
Previous Owner Edwards James D $115,350
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/24/2022 01/24/22 Sold $215,000 -6.5% $103 / Sq Ft
11/15/2021 11/15/21 Pending -- -- --
11/04/2021 11/04/21 For Sale $230,000 -- $111 / 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
2025 $2,318 $275,900 $27,500 $248,400
2024 $1,979 $222,400 $22,000 $200,400
2023 $1,979 $222,400 $22,000 $200,400
2022 $1,915 $185,900 $20,000 $165,900
2021 $2,063 $185,900 $20,000 $165,900
2020 $1,837 $165,500 $20,000 $145,500
2019 $1,837 $165,500 $20,000 $145,500
2018 $1,815 $163,500 $18,000 $145,500
2017 $1,815 $163,500 $18,000 $145,500
2016 $1,815 $163,500 $18,000 $145,500
2015 $1,815 $163,500 $18,000 $145,500
2014 $1,815 $175,800 $18,000 $157,800
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2022

    Ann Parker

    DeWitt Real Estate & Auctions

    (434) 401-3222

    46 Total Sales

    Ann Parker
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Map

Source: Lynchburg Association of REALTORS®

MLS Number: 335030

APN: 227-16-016

Virginia Lynchburg City County Lynchburg 24501

131 Primrose Ln, Lynchburg, VA

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