Renovated Side-by-Side
For Sale
$286,000
1010 36th Street, Newport News, VA 23607
Multi Family Residential, Side by Side, Newport News, VA
Property Size1,550 SF
Price / SF$184.52
Days on Market8
Property Features for 1010 36th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Subdivision
ALL OTHERS AREA 106
Lot features
Corner
Elementary school
Newsome Park Elementary
Middle school
Crittenden Middle
Standard status
Active
Size
1,550 SF
Taxes and HOA fees
Tax Annual Amount
3522
Utilities
Water front features
Waterfront
Building Details
Year built
1930
Roof type
Shingle
Architectural style
Other
Listing Agency:
CENTURY 21 Nachman Realty · Century 21 Real Estate
(757) 638-5700
Listed By:
Faith Caldwell
(800) 539-8014
Added: Sep 8
Last Checked: Sep 15 at 1:06AM
MLS# 10652584
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 1,550 square feet and was built in 1930. Renovation work completed in 2024 included a new shingle roof, HVAC system, water heater, and appliances. The property is fully occupied and identified as waterfront, with R4 zoning supporting its residential configuration.
Positioned at 1010 36th Street in Newport News, the duplex is near the Newport News Shipyard, The Yard District, and interstate access. Its location in an opportunity zone adds a documented investment-area designation to the property profile.
Positioned at 1010 36th Street in Newport News, the duplex is near the Newport News Shipyard, The Yard District, and interstate access. Its location in an opportunity zone adds a documented investment-area designation to the property profile.
Key Highlights
- 1,550‑square‑foot side‑by‑side duplex
- Renovated in 2024 with new roof, HVAC, water heater, and appliances
- Fully occupied residential property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,894
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,880
$357.9K
Cap Rate 7%
$255,629
$255.6K
Cap Rate 9%
$198,822
$198.8K
Market Conditions
NOI Build-Up for 1,550 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.0K $17.40/SF
− Vacancy
−$1.4K −$0.91/SF
EGI
$25.6K $16.49/SF
− OpEx
−$7.7K −$4.95/SF
NOI
$17.9K $11.54/SF
Area
Newport News, VA
Vacancy
5.22%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,880
Cap Rate 7%
$255,629
Cap Rate 9%
$198,822
Alternative Uses
Best Use
Multifamily LT 5
$255.6K
$223.7K – $298.2K
NOI $17,894 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$227.9K
$199.4K – $265.9K
NOI $15,951 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$329.2K
$288.0K – $384.1K
NOI $23,043 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 23607, VA
23,498
Population
10,764
Households
2.2
Avg Household Size
33
Median Age
14%
College-Educated
85%
High-School Grad
6.0 sq mi
ZIP Area
3,916
Density / Sq Mi
$42,904
Median Household Income
$33,746
Median Earnings
$1,104
Median Rent
$146,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Waterfront duplex with 2024 updates, current occupancy, and R4 zoning.
Where is this duplex located?
The property is located at 1010 36th Street Newport News, VA.
What is the asking price?
The asking price for this property is $286,000.
What are key features of this property?
This property features: 1,550‑square‑foot side‑by‑side duplex; Renovated in 2024 with new roof, HVAC, water heater, and appliances; Fully occupied residential property
