1508 Somerset Dr
Lynchburg, VA 24503
3 bd 3 ba 2,238 sqft Built 1922 Lot 12,349 sqft single_family
Most recent sale
$320,000
Aug 29, 2022
Location
Timeline: Sale, Listing & Tax History
Recorded events
| Date | Event | Price | Source |
|---|---|---|---|
| Aug 29, 2022 | Sold | $320,000 | Public Record |
| Jul 18, 2022 | Listed | $319,900 | MLS #339489 |
| Mar 28, 2011 | Price changed | $198,500 | MLS #264831 |
| Feb 11, 2011 | Listed | $212,500 | MLS #264831 |
| Jan 1, 2011 | Sold | $175,000 | Public Record |
Tax assessment history
| Year | Building | Land | Total assessed | Tax paid |
|---|---|---|---|---|
| 2025 | $315,000 | $60,000 | $375,000 | $3,150 |
| 2024 | $315,000 | $60,000 | $375,000 | $2,749 |
| 2023 | $256,400 | $52,500 | $308,900 | $2,749 |
| 2022 | $185,500 | $45,000 | $230,500 | $2,374 |
| 2021 | $185,500 | $45,000 | $230,500 | $2,559 |
| 2020 | $158,700 | $45,000 | $203,700 | $2,261 |
| 2019 | $158,700 | $45,000 | $203,700 | $2,261 |
| 2018 | $153,100 | $40,000 | $193,100 | $2,143 |
| 2017 | $153,100 | $40,000 | $193,100 | $2,143 |
| 2016 | $153,100 | $32,000 | $185,100 | $2,055 |
| 2014 | $153,100 | $32,000 | $185,100 | $2,055 |
| 2013 | $153,100 | $32,000 | $185,100 | $2,055 |
| 2012 | $160,900 | $32,000 | $192,900 | $2,141 |
| 2011 | $160,900 | $32,000 | $192,900 | $2,025 |
| 2009 | $160,900 | $32,000 | $192,900 | $2,025 |
| 2008 | $154,900 | $32,000 | $186,900 | $1,962 |
| 2006 | $154,900 | $32,000 | $186,900 | $1,649 |
Property facts
Year built
1922
Property type
single_family
Stories
3
Beds
3
Baths
3
Living area
2,238 sqft
Lot size
12,349 sqft
ZIP code
24503
City
Lynchburg
Street
Somerset Dr
Coordinates
37.44111, -79.19850
Comparable properties nearby
Investment analysis
Estimates based on local averages — not personalized adviceEstimated monthly rent
$3,357
Gross rental yield
12.59%
Implied cap rate
8.18%
Trend-extrapolated value
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Frequently asked questions
When did 1508 Somerset Dr last sell?
1508 Somerset Dr most recently sold on Aug 29, 2022 for $320,000.
What is the current tax assessment for 1508 Somerset Dr?
The most recent total assessment for 1508 Somerset Dr (year 2025) is $375,000 with $3,150 in property tax.
How does 1508 Somerset Dr's assessment compare to its last sale price?
The current assessment is 17.2% above the last sale price of $320,000.
When was 1508 Somerset Dr built?
1508 Somerset Dr was built in 1922.
How does 1508 Somerset Dr compare to others on Somerset Dr?
We track 5 other properties on Somerset Dr. Browse the list under "Other properties on Somerset Dr" to compare beds, baths, and sale history.
What are the property facts for 1508 Somerset Dr?
1508 Somerset Dr is a 3 bed, 3 bath, 2,238 sqft, 12,349 sqft lot single_family.
Is 1508 Somerset Dr a flip candidate?
No — 1508 Somerset Dr does not appear in our flips dataset.
Is 1508 Somerset Dr a tax-appeal candidate?
Yes — 1508 Somerset Dr appears in our tax-appeal candidates list, meaning its current assessment exceeds its recent sale price by 15% or more.
Forecast for this area
ZIP-area linear projection — not a per-property automated valuationQuarterly trend
-1.1%
Implied 1-yr
-4.4%
2026 Q3
$337.8K
2026 Q4
$333.8K
ZIP 24503 — Median Price History + Forecast
Explore nearby
Geography
Other properties on Somerset Dr