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1253 Main St
Lynchburg, TN

1253 Main St

715K
4 bd • 3 ba • 2,909 sf

This analysis was generated by artificial intelligence on 2/26/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$715,000

Price/Sq.Ft

$246

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Sizeable Square Footage: At 2,909 square feet, the property offers ample living space, potentially accommodating larger households or those desiring room for various activities. • Price per Square Foot: The price per square foot of $245.79 may be competitive depending on the condition and location of the property relative to other homes in Lynchburg. Further market research is needed to confirm. • Potential for Customization: The lack of specific property features and room details suggests opportunities for buyers to customize the space to their preferences. • Rural Setting: The location in Lynchburg, TN, offers a tranquil, rural lifestyle, appealing to those seeking a retreat from urban environments.

The Bad

• Lack of Property Details: The absence of property features, room details, and utility information makes it difficult to assess the property's true value and condition. • Unknown Year Built: The missing year built raises concerns about the property's age and potential for outdated systems, materials, and structural issues. • Rural Location: While the rural setting may appeal to some, it could also present challenges related to access to amenities, services, and employment opportunities. • Market Data Unavailable: The missing median income and rental rates make it challenging to evaluate the property's investment potential.

The Ugly

• Unknown Structural Integrity: Without knowing the age and construction details, there's a risk of significant structural problems, such as foundation issues, roof damage, or termite infestation. Budget for a thorough inspection by a qualified structural engineer. • Outdated Systems: The property may have outdated electrical, plumbing, and HVAC systems, which could require costly upgrades. Obtain quotes from licensed contractors to assess the condition and replacement costs of these systems. • Environmental Hazards: Older properties may contain hazardous materials such as lead paint, asbestos, or mold. Conduct environmental testing to identify and remediate any potential hazards. • Limited Market Data: The absence of market insights, such as median income and rental rates, makes it difficult to assess the property's investment potential and long-term value. • Potential for High Maintenance Costs: Older homes typically require more maintenance and repairs than newer properties. Factor in potential costs for routine maintenance, repairs, and emergency repairs.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers seeking a historically significant home with substantial square footage in a rural setting. The classic architectural style and spacious interior are suited for those appreciating vintage homes. • Individuals looking for a property with potential for customization or renovation to suit their personal tastes. The lack of detailed property features and room details suggests opportunities for updates. • Buyers who value privacy and space, as indicated by the rural location and potentially large lot size. This setting may appeal to those seeking a quiet, secluded lifestyle away from urban centers. • Those able to conduct thorough due diligence on an older property, including assessments of structural integrity, utility systems, and potential environmental concerns.

Not For

• Buyers seeking modern, move-in-ready homes with updated features. The lack of property details suggests potential renovations may be required. • Individuals on a strict budget, as the potential for renovations and unknown utility costs could lead to unexpected expenses. • Those who prefer urban amenities and convenient access to shopping, dining, and entertainment. Lynchburg's rural setting may not suit those seeking a vibrant urban lifestyle. • Buyers unwilling to undertake thorough due diligence on an older property, including inspections, zoning research, and utility assessments.
Demographics
Area Median Income

$0

Property History

Price History
Ownership Timeline
$715,000Financed
Sep 13, 2024
Tolley House LlcNathaniel Klein
Warranty Deed
New Construction Residential Transactions
$0Cash Purchase
May 9, 2022
Keith Weaver, Fawn WeaverTolley House Llc
Quit Claim Deed
Non-Arm's Length Transactions
$385,000Financed
May 26, 2017
Frank C Fletcher, Karen B FletcherKeith Weaver, Fawn Weaver
Warranty Deed
Non-Residential Arm's Length Transactions
$225,000Cash Purchase
Jan 1, 1970
Fletcher Frank C
Deed
Standard Sale (Purchase/Resales)

Market Insights

Real-time analysis of the local housing market

January 2025
Buyer's Market

In 37352, buyers currently have an advantage. Home prices are trending lower than usual and properties are staying on the market longer, giving you more options and better negotiating power.

$550,000
$215/sqft
31.0%
Change from last month
Your price: $715K (+30%)
Your price/sqft: $246/sqft (+14%)
22
1 sold last month
29.4%
Change from last month
50 days
Average for homes in this area
16.7%
Change from last month

Sale Price Distribution

Last month
1
Over Asking
homes
0
At Asking
homes
0
Under Asking
homes
Total: 1 homes sold

If you're buying a home in 37352, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Sale Time Distribution

Last month
0
Under 30 Days
homes
Your property
1
30-90 Days
homes
0
Over 90 Days
homes
Total: 1 homes sold

Avg time on Rocket Homes in 37352 has remained consistent over time.

Risk Assessment

Risk Analysis

• Unknown Age and Condition: The lack of information on the property's age and features introduces significant uncertainty. A thorough inspection is critical to assess the condition of the structure, systems, and potential environmental hazards. • Potential Renovation Costs: Given the unknown state of the property, budget for potential renovations, which could range from minor cosmetic updates to major structural repairs. Obtain quotes from local contractors to estimate potential costs. • Utility Costs: The absence of utility information makes it difficult to estimate monthly expenses. Research average utility costs for similar-sized homes in Lynchburg to create a preliminary budget. • Environmental Concerns: Older properties may have environmental issues such as lead paint or asbestos. Conduct environmental testing to identify and address any potential hazards. • Zoning Restrictions: Verify local zoning regulations to understand permitted uses, building restrictions, and potential development plans that could affect the property.

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Financials

Monthly Costs
Market Rent (4 bed)

$0

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Location & Comparables

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