Updated Two-Unit
For Sale
$669,950
4412 Cutshaw Avenue, Richmond, VA 23230
ResidentialIncome, Richmond, VA
Property Size2,096 SF
Lot Size0.14 Acres
Price / SF$319.63
Days on Market157
Property Features for 4412 Cutshaw Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-5
Rooms
Basement
Parking features
Off Street, On Street
Patio and Porch features
Porch
Interior features
BedroomOnMainLevel, Fireplace, HighSpeedInternet, WiredForData
Fencing
Fenced
Fireplace
1
Appliances
GasWaterHeater
Subdivision
Monument Avenue Park
Lot features
Level
Elementary school
Munford
Middle school
Albert Hill
High school
Thomas Jefferson
Directions
Heading west on Monument from the city, right on Commonwealth, right on Cutshaw
Standard status
Active
APN
W000-1998-026
Size
2,096 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MONUMENT AV PARK L17-18 B3 0050.00X0125.00 0000.000
Tax Annual Amount
5628
Legal Description
MONUMENT AV PARK L17-18 B3 0050.00X0125.00 0000.000
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
private side porches
fenced backyard
off street parking
basement storage
separate washers/dryers
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Brick, Plaster
Roof type
Slate
Architectural style
Colonial
Listing Agency:
Charles A Rose Co, Inc
(804) 288-4820
Listed By:
Clair Stewart · License #0225183775
(804) 615-6121
Added: Apr 17
Changed: Sep 12
Last Checked: Sep 20 at 12:06AM
MLS# 2610034
Copyright © 2026 Central Virginia Regional Multiple Listing Service. 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 Colonial duplex, built in 1940, contains two separately metered units totaling 2,096 square feet on a 0.1435-acre parcel. Each residence includes two bedrooms, one full bathroom, an updated kitchen, hardwood flooring in formal rooms and bedrooms, a living room, formal dining area, and a private side porch. Original moldings and trim remain, while basement storage and separate washers and dryers serve each unit. The property also features a slate roof, brick and plaster construction, a fireplace, fenced yard, and off-street and on-street parking.
The duplex is fully leased and located at 4412 Cutshaw Avenue in Richmond, Virginia 23230. The property is two blocks from Monument Avenue and within walking distance of Scott's Addition and Willow Lawn, placing dining, shopping, and entertainment options nearby. Public water and sewer serve the property, and tenants pay all utilities.
The duplex is fully leased and located at 4412 Cutshaw Avenue in Richmond, Virginia 23230. The property is two blocks from Monument Avenue and within walking distance of Scott's Addition and Willow Lawn, placing dining, shopping, and entertainment options nearby. Public water and sewer serve the property, and tenants pay all utilities.
Key Highlights
- Two‑unit duplex with 2,096 square feet on a 0.1435‑acre parcel
- Each unit offers 2 bedrooms and 1 full bath
- Fully leased with separate utility meters; tenants pay all utilities
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
$27,656
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
4.13%
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%
$553,120
$553.1K
Cap Rate 7%
$395,086
$395.1K
Cap Rate 9%
$307,289
$307.3K
Market Conditions
NOI Build-Up for 2,096 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
$42.3K $20.16/SF
− Vacancy
−$2.7K −$1.31/SF
EGI
$39.5K $18.85/SF
− OpEx
−$11.9K −$5.65/SF
NOI
$27.7K $13.19/SF
Area
Richmond, VA
Vacancy
6.50%
Lease Rate
$20.16 /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%
$553,120
Cap Rate 7%
$395,086
Cap Rate 9%
$307,289
Alternative Uses
Best Use
Multifamily LT 5
$395.1K
$345.7K – $460.9K
NOI $27,656 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$370.9K
$324.6K – $432.8K
NOI $25,966 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$484.2K
$423.7K – $565.0K
NOI $33,897 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,594
Businesses Nearby
Explore this area
Business Placement
Demographics for 23230, VA
8,263
Population
5,066
Households
1.6
Avg Household Size
35
Median Age
52%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
1,922
Density / Sq Mi
$71,189
Median Household Income
$55,121
Median Earnings
$1,608
Median Rent
$343,500
Median Home Value
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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 - Fully leased duplex with separate utility meters, private porches, fenced outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 4412 Cutshaw Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $669,950.
What are key features of this property?
This property features: Two‑unit duplex with 2,096 square feet on a 0.1435‑acre parcel; Each unit offers 2 bedrooms and 1 full bath; Fully leased with separate utility meters; tenants pay all utilities
