2802 Loraine St, Lynchburg, VA, 24504

Location

Get An Agent. Get A Mortgage.

Let Us Help You Buy A Home And Save BIG

Save BIG.

2802 Loraine St, Lynchburg$55,000

Buyer Closing Credits

$653^*

1.25% Loan Amount

Sell Your Home And Save More

Connect With An Agent

Still Have Questions? Contact Us.

1 (855) 200-2001

Property Highlights

Home TypeSingle Family Residence

Year Built1935

HeatingHeat Pump

CoolingHeat Pump

MLS #351632

Lot Size0.26 Acres

StatusActive

About 2802 Loraine St

Home is ready for final touches to be placed by new investor. Property has been demoed and has options for being either a one or two bedroom home. Home is within minutes of downtown Lynchburg with plenty other neighboring homes having been updated. Past updates include 200 amp panel box, heat pump, vinyl siding, and replacement windows. Schedule your showing today before you miss out on this investment property.

View More

Property Details

Property Features

Property Information:

• Architectural Style: Ranch
• Year Built: 1935
• Stories: 1
• Living Area: 987 SqFt

Listing Office:

• Office Name: Cornerstone Realty Group Inc
• Office Phone: (434) 810-6732
• Listing Agent: Schyler C Higgins

Interior Features

Interior Information:

• Appliances: None
• Basement: No
• Flooring Type: Other
• Interior: Main Level Bedroom, None

Bedroom and Bathroom Information:

• Full Bathrooms: 1
• Total Bedroom Count: 2

Exterior Features

Exterior Information:

• Exterior: Garden Space, Insulated Glass

Lot Features

Lot Information:

• Lot Size: 0.26 Acres

Utilities

Utilities Information:

• Heating: Heat Pump
• Cooling: Heat Pump

Other

Directions Information:

• Directions: Winston Ridge Rd to Winchester St, to Loraine St, home is second from end of road on left.

Price Information

Listing Price Info

Price Summary:

• List Price: $55,000
• Price Per SqFt: $56/SqFt

Tax Information:

• Annual Amount: $359
• Tax Year: 2018

What can I afford?

Understand what home price range makes sense for your budget.

See What I Can Afford

Housing Market Comparison

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

Lynchburg, VA

City

Med. Sold Price

$281.1K

Med. Price/SqFt

$159

Avg. Days On Market

28

# of Sold Homes

103

2802 Loraine St vs Lynchburg

252 DAYS ON ROCKET

+224 Days

$55,000

-$226.1K Less

$56/SqFt

-$104 Less

KEY TAKEAWAY

This property is $226.1K less than the Median Sold Price and $104/SqFt less than other homes in Lynchburg, VA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

• MLS Name: Lynchburg
• MLS Number: #351632

Listing Office:

• Office Name: Cornerstone Realty Group Inc
• Office Phone: (434) 810-6732
• Listing Agent: Schyler C Higgins

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: 12/22/2024, 9:21:07 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

View More

Property Sales & Tax

Tax History

YEAR	PROP. TAX	ASSESSMENT
2020	-	$32,300
2019	-	$32,300
2018	$359	$32,300
2017	$359	$32,300

History based on county public records data.

Payment Calculator

Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.

$342

Per Month

Principal & Interest

$275

Home Price

Home PriceThe dollar amount you pay for the home.

$

Interest Rate

Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.

%

Down Payment

Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.

$Down PaymentPercent%

Loan Term

Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.

30 year25 year20 year15 year10 year

Property Taxes

$0

Annual Cost

Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.

$/ Year

Mortgage Insurance

$0

Monthly Premium

Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.

$/ Month

Homeowners Insurance

$67

Monthly Premium

Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.

$/ Month

Homeowners Association (HOA)

$0

Monthly Fees

Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.

$/ Month

Utilities

$0

Monthly Cost

Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.

$/ Month

*Disclosures

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$231

See More Options

Connect With A Banker

Powered By

Advertisement

NMLS#3030

**Disclosures

Rocket Homes›Virginia›Lynchburg›24504›2802 Loraine St

This home is located at 2802 Loraine St in Lynchburg, VA and zip code 24504 in the White Rock Hill neighborhood. This 987 square foot home, which was built in 1935, sits on a 0.26 acre lot. Features: 2 bedrooms, 1 bathroom. It has been listed on Rocket Homes since April 13, 2024 and is currently priced at $55,000.

In November 2024, from all listings sold in Lynchburg, VA there were more than 25 sold above asking price, over 44 sold below and more than 34 were sold right at the asked price. Between October 2024 and November 2024, Lynchburg, VA real estate market has seen decrease in the number of listings by 4.9%. In November 2024, listings were on the market for 28 days. During the same period, the median list price in this real estate market was $281,126.

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