Renovated
For Sale
$229,000
1108 6th St, Petersburg, VA 23803
Two residential units each offer two bedrooms and one full bathroom in a recently renovated configuration.
Property Size1,340 SF
Price / SF$170.90
Days on Market54
Property Features for 1108 6th St
General Information
Standard status
Active
Size
1,340 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,667
Listing Agency:
EXP Realty, LLC
(804) 729-5188
Listed By:
Rolandus Jackson · License #0225224531
(804) 605-1769
Source:
Exprealty
Added: Aug 27
Changed: Oct 7
Last Checked: Oct 19 at 11:38AM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This renovated duplex at 1108 6th St in Petersburg, VA, contains two residential units with matching layouts. Each unit includes two bedrooms and one full bathroom, providing a straightforward configuration for residential income use.
The property offers a defined two-unit setup within Petersburg and is presented as a for-sale asset. Its interior improvements and consistent unit layouts provide the core physical details for evaluating the property.
The property offers a defined two-unit setup within Petersburg and is presented as a for-sale asset. Its interior improvements and consistent unit layouts provide the core physical details for evaluating the property.
Key Highlights
- Renovated duplex with two residential units
- Each unit includes 2 bedrooms and 1 full bathroom
- Located at 1108 6th St, Petersburg, VA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,681
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,620
$353.6K
Cap Rate 7%
$252,586
$252.6K
Cap Rate 9%
$196,456
$196.5K
Market Conditions
NOI Build-Up for 1,340 SF
Gross rent
$27.0K $20.16/SF
− Vacancy
−$1.8K −$1.31/SF
EGI
$25.3K $18.85/SF
− OpEx
−$7.6K −$5.65/SF
NOI
$17.7K $13.19/SF
Area
Petersburg County, 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%
$353,620
Cap Rate 7%
$252,586
Cap Rate 9%
$196,456
Alternative Uses
Best Use
Multifamily LT 5
$252.6K
$221.0K – $294.7K
NOI $17,681 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$237.2K
$207.5K – $276.7K
NOI $16,601 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$309.6K
$270.9K – $361.2K
NOI $21,671 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Explore this area
Business Placement
Demographics for 23803, VA
44,377
Population
19,826
Households
2.2
Avg Household Size
36
Median Age
24%
College-Educated
88%
High-School Grad
72.2 sq mi
ZIP Area
615
Density / Sq Mi
$55,820
Median Household Income
$35,122
Median Earnings
$1,132
Median Rent
$208,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units each offer two bedrooms and one full bathroom in a recently renovated configuration.
Where is this duplex located?
The property is located at 1108 6th St Petersburg, VA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Renovated duplex with two residential units; Each unit includes 2 bedrooms and 1 full bathroom; Located at 1108 6th St, Petersburg, VA
