Waterfront
For Sale
$315,000
4300 Tides Ct, Norfolk, VA 23518
Multi Family Residential, Side by Side, Norfolk, VA
Property Size1,652 SF
Price / SF$190.68
Days on Market9
Property Features for 4300 Tides Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
OCEAN VIEW EAST
Lot features
Cul-De-Sac
Elementary school
Little Creek Elementary
Middle school
Azalea Gardens Middle
Standard status
Active
Size
1,652 SF
Taxes and HOA fees
Tax Annual Amount
3143
Utilities
Water front features
Waterfront
Building Details
Year built
1978
Roof type
Shingle
Architectural style
Other
Listing Agency:
Proactive Real Estate Services
Listed By:
Beatrice Daniels
(757) 383-9510
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 26 at 2:06PM
MLS# 10654287
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 tenant-occupied side-by-side duplex contains 1,652 square feet and was built in 1978. The property provides four bedrooms and two bathrooms overall, with each unit arranged as a two-bedroom, one-bath residence. Electric and water are separately metered for the units. Both residences have new water heaters, while Unit B also has a new HVAC system. The shingle roof was replaced in 2022.
Laundry features include a washer and dryer in Unit A and washer/dryer hookups in Unit B. The waterfront property is located in Norfolk, VA, near highways, military bases, and shopping. The offering includes a practical two-unit layout with distinct utility service and recent updates to key building components.
Laundry features include a washer and dryer in Unit A and washer/dryer hookups in Unit B. The waterfront property is located in Norfolk, VA, near highways, military bases, and shopping. The offering includes a practical two-unit layout with distinct utility service and recent updates to key building components.
Key Highlights
- Waterfront duplex with 1,652 square feet
- Four bedrooms and two bathrooms total; each unit has 2 bedrooms and 1 bathroom
- Separate electric and water meters for each unit
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
$21,637
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
6.87%
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%
$432,740
$432.7K
Cap Rate 7%
$309,100
$309.1K
Cap Rate 9%
$240,411
$240.4K
Market Conditions
NOI Build-Up for 1,652 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
$32.7K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.9K $18.71/SF
− OpEx
−$9.3K −$5.61/SF
NOI
$21.6K $13.10/SF
Area
Norfolk, VA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$432,740
Cap Rate 7%
$309,100
Cap Rate 9%
$240,411
Alternative Uses
Best Use
Multifamily LT 5
$309.1K
$270.5K – $360.6K
NOI $21,637 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$277.6K
$242.9K – $323.9K
NOI $19,432 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$350.4K
$306.6K – $408.9K
NOI $24,531 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 23518, VA
30,278
Population
13,911
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
6.1 sq mi
ZIP Area
4,964
Density / Sq Mi
$73,899
Median Household Income
$47,605
Median Earnings
$1,348
Median Rent
$280,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied side-by-side duplex with separate utility meters and updated major building systems.
Where is this duplex located?
The property is located at 4300 Tides Ct Norfolk, VA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Waterfront duplex with 1,652 square feet; Four bedrooms and two bathrooms total; each unit has 2 bedrooms and 1 bathroom; Separate electric and water meters for each unit
