Vibrations resulting from dynamic vehicle-track interactions (VTI) offer valuable insights into track conditions. This paper presents an approach for track condition monitoring by detecting and quantifying multiple track degradations using a digital twin of the VTI system. Unlike existing techniques that focus on a specific degradation type at a single track component, our proposed method provides a generic and integrated framework. By combining a physics-based VTI model with a data-driven model, we dynamically update the digital twin’s state based on measured axle-box accelerations (ABA). We introduce a local ABA feature extracted from its spectrogram and demonstrate its effectiveness in distinguishing various degradations at different track positions. The implementation and capability of the proposed approach were demonstrated in a case study conducted on a transition zone of a railway bridge. The simultaneous track stiffness variations in the railpad/fastening and ballast layers were successfully detected, confirming the effectiveness of our approach. The case study also showcases the generality, interpretability, efficiency, and robustness of the proposed approach in identifying concurrent degradation. Our proposed framework opens new possibilities for cost-effective continuous track monitoring for railway infrastructure management.