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    Chatham Square Cooperative Living Title is generated by Realmo AI

    6161 River Road, Henrico, VA 23226

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    For Sale
    $479,000

    MULTI_FAMILY - Colonial - Henrico, VA

    Property size:
    1,799 SF
    Price / SF:
    $266/SF
    Added:
    May 30, 2026
    Days on Market:
    2
    Last Refresh:
    May 31 at 6:06 pm

    Property Features for 6161 River Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bedroom 3, Bathroom 2, Bathroom 1, Dining Room, Bedroom 2, Bathroom 3, Bedroom 1
    Parking features
    On Street
    Patio and Porch features
    Patio, Porch
    Interior features
    BedroomOnMainLevel, SeparateFormalDiningRoom, EatInKitchen, Fireplace, BathInPrimaryBedroom, MainLevelPrimary, SolidSurfaceCounters, WalkInClosets
    Exterior features
    Porch, Storage
    Fireplace
    1
    Appliances
    Dryer, Dishwasher, ElectricCooking, Disposal, GasWaterHeater, Refrigerator, Washer
    Standard status
    Active
    APN
    763-731-0250
    Size
    1,799 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    RIVER RD AC 10.12 95A B1 8
    Tax Annual Amount
    235179

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1967
    Floors in Building
    1
    Flooring type
    Vinyl, Wood, Carpet
    Building materials
    Brick, Drywall, Hardboard, WoodSiding
    Roof type
    Tile
    Architectural style
    Colonial
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Greg Somerville

    Listing agent Greg Somerville License #0225252731

    Listing office Shaheen Ruth Martin & Fonville 420 N Ridge Rd, Richmond, VA

    Listing date May 30, 2026

    MLS# 2614645 Listing URL

    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.

    HighLights

    • First‑floor, one‑level living with no interior stairs in a gated community.
    • Enjoy 24‑hour on‑site security and exterior/grounds maintenance included in association fee.
    • Located less than one mile from the University of Richmond, Country Club of Virginia, dining, and shopping.
    • Real estate taxes covered by monthly association fee.
    • Spacious unit with flexible floor plan, including a sunroom and three bedrooms.
    • Updated kitchen with Corian countertops and new dishwasher.

    Overview

    Located in the gated community of Chatham Square in Henrico, Virginia, this property offers first-floor, one-level living with no interior stairs. The unit features a flexible floor plan suitable for a lock-and-leave lifestyle. The kitchen includes Corian countertops, ample cabinet storage, and a new dishwasher, with space for a small table. The light-filled living room has a gas fireplace and connects to the dining area. A newly carpeted sunroom with abundant windows provides access to the backyard. The home includes three bedrooms, one of which is currently used as a study, along with two full baths and one half bath. Hardwood floors are present throughout the main living areas and bedrooms. Chatham Square is a cooperative community situated on over 10 acres of grounds with trees, private roads, and courtyards. The monthly association fee covers real estate taxes. Community amenities include 24-hour on-site security, exterior and grounds maintenance. The property is located less than one mile from the University of Richmond, Country Club of Virginia, dining, shopping, and other neighborhood amenities. The property size is 1799 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Real Estate Agency Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Henrico
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.533065
    Latitude
    37.5681

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    FAQs

    What type of property is this?
    Single family property - Gated community near University of Richmond with easy access.
    Where is this single family property located?
    The property is located at 6161 River Road Henrico, VA.
    What is the asking price?
    The asking price for this property is $479,000.
    What are key features of this property?
    This property features: First‑floor, one‑level living with no interior stairs in a gated community.; Enjoy 24‑hour on‑site security and exterior/grounds maintenance included in association fee.; Located less than one mile from the University of Richmond, Country Club of Virginia, dining, and shopping.
    (804) 551-4449
    We can help!
    Listing Contact
    Greg Somerville
    Real Estate License ID: 0225252731
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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