Updated Waterfront
For Sale
$326,500
607 E Pembroke Avenue, Hampton, VA 23669
Multi Family Residential, Hampton, VA
Property Size1,506 SF
Price / SF$216.80
Days on Market54
Property Features for 607 E Pembroke Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
C1
Subdivision
ALL OTHERS AREA 102
Elementary school
Captain John Smith Elementary
Middle school
C. Alton Lindsay Middle
Standard status
Active
Size
1,506 SF
Taxes and HOA fees
Tax Annual Amount
2666
Utilities
Water front features
Waterfront
Building Details
Year built
1917
Roof type
Shingle
Listing Agency:
1st Class Real Estate Flagship
(757) 995-1301
Listed By:
Troy Brimmer
(757) 553-8843
Added: Jul 7
Changed: Aug 24
Last Checked: Aug 29 at 12:06AM
MLS# 10643104
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 recently updated duplex contains 1,506 square feet and offers two separate sides. The layout supports an owner-occupant arrangement with one side available for personal use and the other available for rent, as described in the listing information. The property is also identified as waterfront, adding a notable site characteristic to the residential income profile.
Located in Hampton, Virginia, the building was constructed in 1917 and has a shingle roof. C1 zoning is reported for the property. The combination of duplex configuration, updated condition, waterfront designation, and flexible occupancy arrangement gives the asset a straightforward residential investment or owner-occupant profile.
Located in Hampton, Virginia, the building was constructed in 1917 and has a shingle roof. C1 zoning is reported for the property. The combination of duplex configuration, updated condition, waterfront designation, and flexible occupancy arrangement gives the asset a straightforward residential investment or owner-occupant profile.
Key Highlights
- Recently updated duplex with 1,506 square feet
- Two‑sided layout supports living in one unit and renting the other
- Waterfront 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
$17,389
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
5.33%
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%
$347,780
$347.8K
Cap Rate 7%
$248,414
$248.4K
Cap Rate 9%
$193,211
$193.2K
Market Conditions
NOI Build-Up for 1,506 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
$26.2K $17.40/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$24.8K $16.50/SF
− OpEx
−$7.5K −$4.95/SF
NOI
$17.4K $11.55/SF
Area
Hampton, VA
Vacancy
5.20%
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%
$347,780
Cap Rate 7%
$248,414
Cap Rate 9%
$193,211
Alternative Uses
Best Use
Multifamily LT 5
$248.4K
$217.4K – $289.8K
NOI $17,389 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$229.3K
$200.7K – $267.5K
NOI $16,052 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$391.6K
$342.7K – $456.9K
NOI $27,415 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 23669, VA
41,030
Population
17,589
Households
2.3
Avg Household Size
38
Median Age
31%
College-Educated
94%
High-School Grad
12.1 sq mi
ZIP Area
3,391
Density / Sq Mi
$66,999
Median Household Income
$41,874
Median Earnings
$1,202
Median Rent
$246,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with C1 zoning, a shingle roof, and a 1917 construction date.
Where is this duplex located?
The property is located at 607 E Pembroke Avenue Hampton, VA.
What is the asking price?
The asking price for this property is $326,500.
What are key features of this property?
This property features: Recently updated duplex with 1,506 square feet; Two‑sided layout supports living in one unit and renting the other; Waterfront property
