6 months on rocket

7505 Timberlake Rd, Lynchburg, VA, 24502

$898,500

Home List Price

$10,000*

Closing Credit

6 Bedrooms
6 Full Baths
1,284 SqFt
$700/SqFt
House
Schools Nearby

Location

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7505 Timberlake Rd, Lynchburg$898,500

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
Year BuiltNew Const., 1946
HeatingHeat Pump, Other
CoolingHeat Pump, Zoned
BasementYes
WaterfrontFencing, Creek/Stream
Fireplace1 Fireplace, Living Room
ViewOther, Stream/Creek
MLS #348770
Lot Size5.50 Acres
StatusActive

About 7505 Timberlake Rd

Zoned B-1, R-C, R-1. There are three buildings on the property the main house is known as the Big Cottage which offers 2 bedrooms, 1 bath, living room/dinning, along with covered front porch, laundry and back deck area over looking the farm! The Red barn offers three individual studio apartments with full bath and bistro kitchen fully furnished there is an additional unit in the barn that is nearly completed which would make 4 units! Third property is the little cottage 288 sq ft tiny house! The entire east side border of property is dreaming creek! It's a beautiful park like setting with large field along creek! This is by far one of the most unique properties! Great potential with adjoining property MLS #350077 15.50 acreage at $299K listed with Realty One Group both parcels together would allow 20 Acres in sought after Timberlake Rd! Development potential!!!!Would make a great 55+ community with access to Timeberlake and Roundelay Circle

Property Details

Property Features

Property Information:

  • Architectural Style: Cape Cod
  • Year Built: 1946
  • Stories: 2
  • Living Area: 1,284 SqFt

Listing Office:

  • Office Name: Lauren Bell Real Estate, Inc.
  • Listing Agent: Marty Donovan

Interior Features

Interior Information:

  • Appliances: Dryer, Microwave, Electric Range, Refrigerator, Washer
  • Basement: Yes
  • Flooring Type: Laminate, Wood
  • Interior: Apartment, Cable Available, Cable Connections, Ceiling Fan(s), Drapes, Drywall, High Speed Data Aval, Paneling, Plaster, Workshop
  • Fireplace: 1 Fireplace, Living Room

Bedroom and Bathroom Information:

  • Full Bathrooms: 6
  • Total Bedroom Count: 6

Exterior Features

Exterior Information:

  • Waterfront: Fencing, Creek/Stream
  • View: Other, Stream/Creek
  • Exterior: Fenced Yard, Garden Space, Landscaped, Stream/Creek

Lot Features

Lot Information:

  • Lot: Fencing, Garden, Landscaped, Stream/Creek, Barn, Farm
  • Lot Size: 5.50 Acres

Utilities

Utilities Information:

  • Heating: Heat Pump, Other
  • Cooling: Heat Pump, Zoned

School Info

Assigned Schools Information:

  • Heritage High School, Public District Grades 9-12
  • Sandusky Middle School, Public District Grades 6-8
  • Heritage Elementary School, Public District Grades PK-5

Other

Directions Information:

  • Directions: 501 to Timberlake

Price Information

Listing Price Info

Price Summary:

  • List Price: $898,500
  • Price Per SqFt: $700/SqFt

Tax Information:

  • Annual Amount: $3,185
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Lynchburg, VA.

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Lynchburg, VA

City

Med. Sold Price

$259.9K

Med. Price/SqFt

$150

Avg. Days On Market

26

# of Sold Homes

95

7505 Timberlake Rd vs Lynchburg

194 DAYS ON ROCKET

+168 Days

$898,500

+$638.5K More

$700/SqFt

+$549 More

KEY TAKEAWAY

This property is $638.5K more than the Median Sold Price and $549/SqFt more than other homes in Lynchburg, VA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Lynchburg
  • MLS Number: #348770

Listing Office:

  • Office Name: Lauren Bell Real Estate, Inc.
  • Listing Agent: Marty Donovan

Information is provided by the Lynchburg Association of REALTORS®. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2024 Lynchburg Association of REALTORS®. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/30/2024, 10:25:18 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$3,185$286,900
2019$2,824$286,900
2018$3,825$344,600
2017$3,825$344,600

History based on county public records data.

Payment Calculator

$4,552

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,760

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-3650552
3
/10

  • Heritage Elementary School

  • 501 Leesville Rd

  • 0.68 miles

  • Public District Grades PK-5

Middle School

school-card-donut-3650553
3
/10

  • Sandusky Middle School

  • 805 Chinook Pl

  • 1.74 miles

  • Public District Grades 6-8

High School

school-card-donut-3650554
2
/10

  • Heritage High School

  • 3020 Wards Ferry Rd

  • 0.77 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $59,670. Typical income of Lynchburg, VA residents is between $35k-100k annually. Most families are single, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 7505 Timberlake Rd

What is the listing price of this property?

The listing price of 7505 Timberlake Rd property is $898,500.

What type of property is this?

The property 7505 Timberlake Rd is a house located in Lynchburg, Virginia, 24502.

Is this property for sale now?

Active Listing: 7505 Timberlake Rd is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 7505 Timberlake Rd are:
Heritage Elementary School: GreatSchools Rating 3/10
Sandusky Middle School: GreatSchools Rating 3/10
Heritage High School: GreatSchools Rating 2/10

What is the annual property tax for this property?

According to the records, the last property tax for 2020 is $3,185 (source: MLS/based on county public records data).

How many bedrooms and bathrooms does this property have?

The property at 7505 Timberlake Rd has 6 bedrooms and 6 bathrooms.

What is the square footage of this property?

The property 7505 Timberlake Rd is 1,284 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 7505 Timberlake Rd is 1946.

Rocket Homes›Virginia›Lynchburg›24502›7505 Timberlake Rd

This home is located at 7505 Timberlake Rd in Lynchburg, VA and zip code 24502. This 1,284 square foot home, which was built in 1946, sits on a 5.50 acre lot. Features: 6 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since October 18, 2023 and is currently priced at $898,500.

Lynchburg, VA housing market in March 2024 saw over 24 listings sold above listed price, more than 39 sold at listed price and over 32 sold below. Between February 2024 and March 2024, Lynchburg, VA real estate market has seen increase in the number of listings by 58.5%. Listings spent 26 days on the market in March 2024, and had a median list price of $259,971 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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