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 Market8
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: Sep 1
Last Checked: Sep 2 at 6:48PM
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
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 = 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
$17,681
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
7.72%
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%
$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
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 $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 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%
$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.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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
