Duplex With Separate
New
For Sale
$575,000
104 N Meadow St, Richmond, VA 23220
Both residences are leased and feature two bedrooms, a full bath, and a kitchen.
Property Size3,159 SF
Price / SF$182.02
Days on Market3
Property Features for 104 N Meadow St
General Information
Standard status
Active
Size
3,159 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Fan
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1911
Buildings
1
Listing Agency:
Beycome Brokerage Realty LLC
(804) 656-5007
Listed By:
The Elliott Real Estate Team
(804) 404-5566
Source:
Elliottreteam
Added: Nov 4
Last Checked: Nov 4 at 3:05PM
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 Beycome Brokerage Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1911, this detached 3,159-square-foot duplex contains two residences, each with two bedrooms, one full bath, and a large kitchen. The ground-floor unit has an open entry, living area, hallway storage, and access to a rear porch. The upper residence has its own entrance, a small office or den, and a porch reached from the kitchen. Both units are currently rented.
The property is at 104 N Meadow St in Richmond, near VCU, neighborhood restaurants, museums, and shopping. Interstate access and downtown Richmond are also nearby.
The property is at 104 N Meadow St in Richmond, near VCU, neighborhood restaurants, museums, and shopping. Interstate access and downtown Richmond are also nearby.
Key Highlights
- Two rented units, each with 2 bedrooms and 1 full bath
- 3,159‑square‑foot detached duplex built in 1911
- Separate entrance for the upper‑level residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,682
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$833,640
$833.6K
Cap Rate 7%
$595,457
$595.5K
Cap Rate 9%
$463,133
$463.1K
Market Conditions
NOI Build-Up for 3,159 SF
Gross rent
$63.7K $20.16/SF
− Vacancy
−$4.1K −$1.31/SF
EGI
$59.5K $18.85/SF
− OpEx
−$17.9K −$5.65/SF
NOI
$41.7K $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 Rate 5%
$833,640
Cap Rate 7%
$595,457
Cap Rate 9%
$463,133
Alternative Uses
Best Use
Multifamily LT 5
$595.5K
$521.0K – $694.7K
NOI $41,682 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$559.1K
$489.2K – $652.3K
NOI $39,135 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$729.8K
$638.6K – $851.5K
NOI $51,088 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,656
Businesses Nearby
Explore this area
Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and feature two bedrooms, a full bath, and a kitchen.
Where is this duplex located?
The property is located at 104 N Meadow St Richmond, VA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two rented units, each with 2 bedrooms and 1 full bath; 3,159‑square‑foot detached duplex built in 1911; Separate entrance for the upper‑level residence
