Turnkey duplex investment opportunity with high-income potential! This fully remodeled property, tucked away off Rivermont Ave, is perfect for short-term rentals, with projected gross monthly income of $4,300 to $6,000 from a local property management company. The bottom unit offers 3 bedrooms & 1 bathroom, while the top unit is a 1 bedroom, 1 bathroom space. Both units feature modern, thoughtfully designed interiors with brand-new kitchens, custom tile bathrooms, updated electrical and plumbing, a new roof, heat pump and mini-split units, and new water heaters, ensuring minimal future maintenance costs. The units exude charm with stylish finishes, including open shelving in the kitchens, LVP flooring, & inviting spaces under dormer windows in the upper unit. Located near hospitals, Randolph College, and Downtown Lynchburg, this property is ideally situated for short-term guests. Don't miss this unique, income-generating opportunity!
Sold for $299,000
$299,000
50 W Princeton Cir, Lynchburg, VA 24503
--beds
1,008sqft
Multi Family
Built in 1960
-- sqft lot
$302,800 Zestimate®
$297/sqft
$1,053 Estimated rent
Home value
$302,800
$279,000 - $330,000
$1,053/mo
Zestimate® history
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List your homeWhat's special
Modern thoughtfully designed interiorsCustom tile bathroomsFully remodeled propertyLvp flooringNew roofUpdated electrical and plumbingNew water heaters
Zillow last checked:
Listing updated:
Listed by:
Mason A. Kiffmeyer 952-715-7715 mason@lyhrealtor.com,
LPT Realty, Inc
Bought with:
Jordan Smith, 0225248313
Keeton & Co Real Estate
Source: LMLS,MLS#: 355526
Originating MLS: Lynchburg Board of Realtors
Originating MLS: Lynchburg Board of RealtorsFacts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Heat Pump, Other
Cooling
- Heat Pump, Other
Appliances
- Included: Electric Water Heater, Unit 1(Dishwasher, Range/Oven, Refrigerator), Unit 2(Dishwasher, Dryer, Range/Oven, Refrigerator, Washer)
- Laundry: Unit 1(Dryer Hookup, Washer Hookup)
Features
- Flooring: Other
- Has fireplace: Yes
- Furnished: Yes
Interior area
- Total structure area: 1,008
- Total interior livable area: 1,008 sqft
Property
Parking
- Parking features: 2 Spaces/Unit, Off Street
Lot
- Size: 0.31 Acres
Details
- Foundation area: 0
- Parcel number: 04002044
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Drywall
Condition
- Year built: 1960
Utilities & green energy
- Electric: Indiv Meter/Electric
- Sewer: City
- Water: City
Community & HOA
Community
- Security: Unit 1 Smoke Alarm, Unit 2 Smoke Alarm
- Subdivision: Randolph College Area
Location
- Region: Lynchburg
Financial & listing details
- Price per square foot: $297/sqft
- Tax assessed value: $278,800
- Annual tax amount: $881
- Date on market: 11/1/2024
- Cumulative days on market: 13 days
Price history
| Date | Event | Price |
|---|---|---|
| 12/16/2024 | Sold | $299,000$297/sqft |
Source:  LMLS #355526 Report a problem | ||
| 11/7/2024 | Price change | $299,000-5.1%$297/sqft |
Source: LMLS #355526 Report a problem | ||
| 11/1/2024 | Listed for sale | $315,000+250%$313/sqft |
Source: LMLS #355526 Report a problem | ||
| 6/27/2024 | Sold | $90,000$89/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,342 +165.8% | $278,800 +181.6% |
| 2024 | $881 | $99,000 |
| 2023 | $881 -0.9% | $99,000 +23.6% |
| 2022 | $889 | $80,100 |
| 2021 | $889 +13.5% | $80,100 +13.5% |
| 2020 | $784 | $70,600 |
| 2019 | $784 +1% | $70,600 +1% |
| 2018 | $776 | $69,900 |
| 2017 | $776 | $69,900 |
| 2016 | $776 | $69,900 |
| 2015 | $776 | $69,900 -2.2% |
| 2014 | $776 | $71,500 |
| 2012 | -- | $71,500 |
| 2011 | -- | $71,500 +6.2% |
| 2009 | -- | $67,300 +5.3% |
| 2008 | -- | $63,900 +43.3% |
| 2007 | -- | $44,600 |
| 2006 | -- | $44,600 |
| 2005 | -- | $44,600 -15.2% |
| 2004 | -- | $52,600 |
| 2003 | -- | $52,600 +5.2% |
| 2002 | -- | $50,000 |
| 2001 | -- | $50,000 |
Find assessor info on the county website
Neighborhood: 24503
Nearby homes
- $279,7003 bd1 ba1.8k sqft96 W Princeton Cir, Lynchburg, VA 24503Off Market
- $236,300-- bd-- ba1.8k sqft92 W Princeton Cir, Lynchburg, VA 24503Off Market
- $--2 bd1 ba-- sqft92 W Princeton Cir #B, Lynchburg, VA 24503Off Market
- $269,4004 bd2 ba1.5k sqft2911 Duval Pl, Lynchburg, VA 24503Off Market
- $181,0003 bd2 ba1.1k sqft54 W Princeton Cir, Lynchburg, VA 24503Sold
- $251,5003 bd1 ba1.8k sqft88 W Princeton Cir, Lynchburg, VA 24503Off Market
- $8952 bd1 ba-- sqft88 W Princeton Cir #B, Lynchburg, VA 24503For Rent
- $209,600-- bd2 ba950 sqft84 W Princeton Cir, Lynchburg, VA 24503Off Market
Nearby schools
GreatSchools rating
- 8/10Paul Munro Elementary SchoolGrades: PK-5Distance: 1.9 mi
- 2/10Linkhorne Middle SchoolGrades: 6-8Distance: 1.9 mi
- 3/10E.C. Glass High SchoolGrades: 9-12Distance: 2.3 mi
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- Virginia
- Lynchburg City
- Lynchburg
- 24503
- 50 W Princeton Cir
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