Renovated Duplex with New
New
For Sale
$286,000
1010 36th St, Newport News, VA 23607
Fully occupied duplex renovated in 2024 with updated major building systems and appliances.
Property Size1,550 SF
Price / SF$184.52
Days on Market2
Property Features for 1010 36th St
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Building Details
Year Built
1930
Year Renovated
2024
Listing Agency:
Own Real Estate LLC
Listed By:
Brian Wurst
(757) 424-9007
Source:
Abwrealty
Added: Sep 9
Last Checked: Sep 10 at 5:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Own Real Estate LLC
Investment Insights
Based on property information with market context.
Located at 1010 36th St in Newport News, this duplex property measures 1,550 square feet and was originally built in 1930. A 2024 renovation introduced a new roof, HVAC system, water heater, and appliances, giving the property a recently updated physical package.
The property is fully occupied and situated within an opportunity zone. Its Newport News location provides proximity to Newport News Shipyard, The Yard District, and nearby interstates, connecting the asset with established employment, commercial, and transportation areas.
The property is fully occupied and situated within an opportunity zone. Its Newport News location provides proximity to Newport News Shipyard, The Yard District, and nearby interstates, connecting the asset with established employment, commercial, and transportation areas.
Key Highlights
- Duplex property with 1,550 square feet
- Completely renovated in 2024
- New roof, HVAC, water heater, and appliances
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
$17,894
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
6.26%
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%
$357,880
$357.9K
Cap Rate 7%
$255,629
$255.6K
Cap Rate 9%
$198,822
$198.8K
Market Conditions
NOI Build-Up for 1,550 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
$27.0K $17.40/SF
− Vacancy
−$1.4K −$0.91/SF
EGI
$25.6K $16.49/SF
− OpEx
−$7.7K −$4.95/SF
NOI
$17.9K $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%
$357,880
Cap Rate 7%
$255,629
Cap Rate 9%
$198,822
Alternative Uses
Best Use
Multifamily LT 5
$255.6K
$223.7K – $298.2K
NOI $17,894 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$227.9K
$199.4K – $265.9K
NOI $15,951 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$329.2K
$288.0K – $384.1K
NOI $23,043 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
418
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
View Realmo Analytics
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 - Fully occupied duplex renovated in 2024 with updated major building systems and appliances.
Where is this duplex located?
The property is located at 1010 36th St Newport News, VA.
What is the asking price?
The asking price for this property is $286,000.
What are key features of this property?
This property features: Duplex property with 1,550 square feet; Completely renovated in 2024; New roof, HVAC, water heater, and appliances
