Waterfront
For Sale
$270,000
556 Bellwood Road, Newport News, VA 23607
Multi Family Residential, Newport News, VA
Property Size1,000 SF
Price / SF$270
Days on Market8
Property Features for 556 Bellwood Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R7
Subdivision
ALL OTHERS AREA 107
Elementary school
Carver Elementary
Middle school
Homer L. Hines Middle
Standard status
Active
Size
1,000 SF
Taxes and HOA fees
Tax Annual Amount
3196
Utilities
Water front features
Waterfront
Amenities
central air
Building Details
Year built
1938
Roof type
Shingle
Listing Agency:
Southern Realty Inc.
(757) 877-2222
Listed By:
Maria Baggett
(757) 206-4444
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 11 at 3:06PM
MLS# 10652396
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 1,000-square-foot duplex, built in 1938, contains two residential units. Unit A offers two bedrooms, one bathroom, and an additional room. Unit B includes one bedroom, one bathroom, and a great room. Both units are equipped with central air, while electric and gas service are separately metered. Water service is shared between the units.
The property is identified as waterfront and is zoned R7. It has a shingle roof and is currently tenant occupied under month-to-month lease agreements. The property is being offered as-is, where-is, with showings requiring at least 24 hours' notice.
The property is identified as waterfront and is zoned R7. It has a shingle roof and is currently tenant occupied under month-to-month lease agreements. The property is being offered as-is, where-is, with showings requiring at least 24 hours' notice.
Key Highlights
- Two‑unit duplex with 1,000 square feet of building area
- Unit A includes 2 bedrooms, 1 bathroom, and a spare room
- Unit B features 1 bedroom, 1 bathroom, and a great room
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
$11,544
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
4.28%
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%
$230,880
$230.9K
Cap Rate 7%
$164,914
$164.9K
Cap Rate 9%
$128,267
$128.3K
Market Conditions
NOI Build-Up for 1,000 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
$17.4K $17.40/SF
− Vacancy
−$908 −$0.91/SF
EGI
$16.5K $16.49/SF
− OpEx
−$4.9K −$4.95/SF
NOI
$11.5K $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%
$230,880
Cap Rate 7%
$164,914
Cap Rate 9%
$128,267
Alternative Uses
Best Use
Multifamily LT 5
$164.9K
$144.3K – $192.4K
NOI $11,544 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$147.0K
$128.6K – $171.5K
NOI $10,291 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$212.4K
$185.8K – $247.8K
NOI $14,867 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
610
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 - Two-unit residential property with central air, individual electric and gas meters, and month-to-month occupancy.
Where is this duplex located?
The property is located at 556 Bellwood Road Newport News, VA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,000 square feet of building area; Unit A includes 2 bedrooms, 1 bathroom, and a spare room; Unit B features 1 bedroom, 1 bathroom, and a great room
