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7505 Timberlake Rd, Lynchburg, VA, 24502

$799,000

Home List Price

$9,488*

Closing Credit

6 Bedrooms
6 Full Baths
1,284 SqFt
$622/SqFt
House

Location

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7505 Timberlake Rd, Lynchburg$799,000

Buyer Closing Credits

$9,488*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
Year Built1946
HeatingHeat Pump, Other
CoolingHeat Pump, Zoned
BasementYes
Fireplace1 Fireplace, Living Room
ViewOther
MLS #348770
Lot Size5.50 Acres
StatusActive

About 7505 Timberlake Rd

Zoned B-1, R-C, R-1. There are separate 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! The entire east side border of property is dreaming creek! Its 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! Opportunity for a development area with adjoining acreage or already a working Airbnb!

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.
  • Office Phone: (434) 384-1010
  • 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, Dryer Connection, Laundry Room, Main Level, Washer Connections
  • Fireplace: 1 Fireplace, Living Room

Bedroom and Bathroom Information:

  • Full Bathrooms: 6
  • Total Bedroom Count: 6

Exterior Features

Exterior Information:

  • View: Other
  • Exterior: Fenced Yard, Garden Space, Landscaped

Lot Features

Lot Information:

  • Lot Size: 5.50 Acres

Utilities

Utilities Information:

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

Other

Directions Information:

  • Directions: 501 to Timberlake

Price Information

Listing Price Info

Price Summary:

  • List Price: $799,000
  • Price Per SqFt: $622/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

$280K

Med. Price/SqFt

$158

Avg. Days On Market

30

# of Sold Homes

91

7505 Timberlake Rd vs Lynchburg

400 DAYS ON ROCKET

+370 Days

$799,000

+$519K More

$622/SqFt

+$463 More

KEY TAKEAWAY

This property is $519K more than the Median Sold Price and $463/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.
  • Office Phone: (434) 384-1010
  • 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: 11/21/2024, 5:20:56 PM 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

$4,055

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,462

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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.

Nearby Schools

school-card-donut-374565
2
/10

  • Heritage Elementary School

  • 501 Leesville Rd

  • 0.67 miles

  • Public District Grades KG-5

school-card-donut-374566
6
/10

  • Tomahawk Elementary School

  • 155 Bee Dr

  • 1.40 miles

  • Public District Grades PK-5

school-card-donut-374567
2
/10

  • Sheffield Elementary School

  • 115 Kenwood Pl

  • 1.73 miles

  • Public District Grades KG-5

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. The majority of families are single, no kids. The majority of residents in this area have post secondary degree education.

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 $799,000.

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 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 $799,000.

In October 2024 more than 24 listings in Lynchburg, VA were sold above the asking price. During the same period more than 30 listings were sold at asking price, while more than 37 were sold below. In October 2024 in Lynchburg, VA there were 4.7% less homes for sale than in September 2024. Listings spent 30 days on the market in October 2024, and had a median list price of $280,000 during the same period.

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

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