Offered for sale at $549,900
The Edmunds House in historic Garland Hill was built by lawyer and VMI graduate, James Easley Edmunds. This bright, sun-filled home boasts 54 windows, taking full advantage of spectacular sunsets and panoramic views of the Blue Ridge mountains. Enjoy the sunrise from the expansive wraparound porch overlooking the Blackwater Creek natural area. The owners have lovingly restored the home to its original beauty, from the careful selection of historically correct Victorian paint colors to the restoration of woodwork. The large, open rooms are bright, livable and perfect for entertaining. The larger backyard also provides an area for entertaining or for children and pets to play. The home is in move-in ready condition and the agent can provide a list of updates. Some furniture can convey with an acceptable offer.
Property website: https://showsgreat.photography/109-Madison-St.
Available for short-term rentals like Airbnb or Vrbo. A regular Bed and Breakfast would require a conditional use permit. The property is not zoned for apartments.
To give guests the experience of a historical home, architectural details like pocket doors, paneled wainscoting, coffered ceiling, and Anaglypta wallpaper have been maintained as well as the large rooms with 10’ ceilings. Paint colors used are reminiscent of the late 1800’s.
First floor layout potential for rental: Front parlor, family room, office, and half bath/laundry (easily converted back to full bath) provide one suite for rental or the owner’s quarters. Either the parlor or the family room could be converted to a bedroom. Lynchburg does not require the owner to live onsite for an Airbnb.
Second floor layout potential for rental: Bedroom suite on the back with its own bath and sunroom/sitting room; on either side, there are two connecting bedrooms with an adjoining full bath. This provides three potential rental areas.
Kitchen area includes the main kitchen, Butler’s pantry, breakfast room, and an additional storage room. This area could be reconfigured for a larger kitchen, or different layout, if desired.
Dining room is 20’ x 15’ and can accommodate many guests.
Lots of storage: Kitchen pantry; cabinets in kitchen and Butler’s pantry; extra room on the main level; walk-in closet upstairs; attic with pull-down stairs; clean, dry basement.
Easy access to the porch from the side driveway vs the front steps. This could also be made wheelchair accessible with a folding ramp.
Larger yard for children, pets, and entertaining.
On and off-street parking. Lynchburg does not require off-street parking for an Airbnb.
According to AirDNA, the average occupancy rate for 2022 was 58.2% and the average rental rate was $277.53/day, producing an average annual income of $58,955 for one rental unit. For 2023, the projected average occupancy rate, according to AirDNA, will be slightly lower at 57.4% but the average rental rate will be higher at $286.91/day, producing an average annual income of $60,110 for one rental unit. In the Madison Street area, two homes have been advertised as renting for $599 and $510/night for a whole house rental and for $160 - $190/night for a one-bedroom, one-bath rental in the home.
- Potential Inn
- 5 Guest Rooms
- 4 Guest Room Baths
- Has Owner's Quarters
- Built in 1890
- Last Renovated in 2022
- Building is 4,781 SQFT
- Lot is 0.38 Acres
- Photo Gallery
- Property Website
- Offered for sale at $549,900
- Terms: Currently used as a private residence.