714 Madison St Lynchburg, VA 24504
College Hill NeighborhoodEstimated payment $1,096/month
About This Home
Duplex Investment Opportunity - Great Potential! This side-by-side duplex is a fantastic investment opportunity with strong rental potential. Whether you're looking to expand your portfolio or live in one unit while renting out the other, this property offers versatility and value. Each unit offers 3 bedrooms and 1 bathroom with a convenient and functional layout. Duel zoned utilities, allowing for easy management. While the property is move-in ready, it does offer the chance to add your own updates and improvements to increase value over time. Located in a convenient location to both Liberty University and Lynchburg University it is a great choice for those looking to build equity. Reach out schedule a showing!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,220
Year Built
- Built in 1880
Lot Details
- 6,268 Sq Ft Lot
Home Design
- 2,339 Sq Ft Home
Flooring
- Wood
- Ceramic Tile
Schools
- Paul Munro Elementary School
- Linkhorne Midl Middle School
- E. C. Glass High School
Utilities
- Heat Pump System
- Electric Water Heater
Community Details
- College Hill Subdivision
- Net Lease
Listing and Financial Details
- Assessor Parcel Number 02437014
Map
Home Values in the Area
Average Home Value in this Area
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 | $1,220 | $137,100 | $14,000 | $123,100 |
| 2023 | $885 | $137,100 | $14,000 | $123,100 |
| 2022 | $733 | $108,900 | $10,000 | $98,900 |
| 2021 | $790 | $108,900 | $10,000 | $98,900 |
| 2020 | $547 | $87,000 | $8,000 | $79,000 |
| 2019 | $547 | $87,000 | $8,000 | $79,000 |
| 2018 | $547 | $87,000 | $8,000 | $79,000 |
| 2017 | $547 | $87,000 | $8,000 | $79,000 |
| 2016 | $547 | $87,000 | $8,000 | $79,000 |
| 2015 | $547 | $22,100 | $2,000 | $20,100 |
| 2014 | $61 | $22,100 | $2,000 | $20,100 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/29/2025 07/29/25 | Price Changed | $179,900 | -2.7% | $77 / Sq Ft |
| 07/11/2025 07/11/25 | Price Changed | $184,900 | -2.6% | $79 / Sq Ft |
| 06/20/2025 06/20/25 | For Sale | $189,900 | +101.2% | $81 / Sq Ft |
| 11/25/2014 11/25/14 | Sold | $94,400 | -90.6% | $36 / Sq Ft |
| 11/24/2014 11/24/14 | Pending | -- | -- | -- |
| 09/11/2014 09/11/14 | For Sale | $999,000 | -- | $385 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $94,400 | Riverside Title Agency Llc | |
| Deed | -- | None Available | |
| Gift Deed | -- | None Available | |
| Deed | $40,000 | None Available | |
| Bargain Sale Deed | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $83,620 | FHA | |
| Closed | $92,690 | FHA | |
| Previous Owner | $34,800 | Construction | |
| Previous Owner | $34,800 | Construction | |
| Previous Owner | $17,000 | Purchase Money Mortgage |
Source: Lynchburg Association of REALTORS®
MLS Number: 360037
APN: 024-37-014
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