Contemporary Duplex Under
For Sale
$699,000
115 W 10th Street, Richmond, VA 23224
MULTI_FAMILY - Contemporary - Richmond, VA
Property Size2,669 SF
Lot Size0.07 Acres
Price / SF$261.90
Days on Market111
Property Features for 115 W 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
R-63
Parking features
Garage, Off Street, Assigned
Window features
Screens
Patio and Porch features
Porch
Interior features
CeilingFans, GraniteCounters, HighCeilings, BathInPrimaryBedroom, WalkInClosets
Appliances
ElectricWaterHeater
Subdivision
Manchester Gardens
Elementary school
Blackwell
Middle school
Dogwood
High school
Armstrong
Directions
From downtown: Take Manchester Bridge south, exit onto Commerce Road and take right onto Porter Street. Take Porter one block and turn left on W. 10th Street. Property is 2nd unit on your left.
Standard status
Active
APN
S0000041061
Size
2,669 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
MANCHESTER GARDENS L31 S1
Tax Annual Amount
1188
Legal Description
MANCHESTER GARDENS L31 S1
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2026
Floors in Building
3
Number of units
2
Building materials
Drywall, Frame, HardiplankType
Roof type
Flat
Architectural style
Contemporary
Listing Agency:
Monroe Properties
(804) 643-3098
Listed By:
Christopher Blake · License #0225061328
(804) 363-9177
Added: Apr 17
Changed: Aug 1
Last Checked: Aug 5 at 4:06PM
MLS# 2609923
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.
Investment Insights
Based on property information with market context.
New construction duplex at 115 W 10th Street, Richmond, VA 23224, scheduled for completion in October 2026. The downstairs unit offers 2 bedrooms and 2 baths, with LVP floors and quartz tops. The upstairs unit features 3 bedrooms and 2.5 baths, with wood floors in the living room, kitchen, master bedroom, stairs, and hallways, ceramic tile in the bathrooms, and quartz kitchen countertops.
Interior features include ceiling fans, granite counters, high ceilings, a bath in the primary bedroom, and walk-in closets. The home includes an electric water heater, with flat roofing. Construction materials include drywall, frame, and Hardiplank-type siding. Parking is provided with a garage, off-street parking, and assigned spaces, along with a porch.
Utilities include public water and public sewer. Architectural style is contemporary, and the property is currently under construction with a 2026 year built.
Interior features include ceiling fans, granite counters, high ceilings, a bath in the primary bedroom, and walk-in closets. The home includes an electric water heater, with flat roofing. Construction materials include drywall, frame, and Hardiplank-type siding. Parking is provided with a garage, off-street parking, and assigned spaces, along with a porch.
Utilities include public water and public sewer. Architectural style is contemporary, and the property is currently under construction with a 2026 year built.
Key Highlights
- Under construction duplex, scheduled completion October 2026
- Downstairs unit: 2 bedrooms, 2 baths with LVP floors and quartz tops
- Upstairs unit: 3 bedrooms, 2.5 baths with wood floors and quartz kitchen countertops
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.8k | $20.16 |
| − Vacancy | −$3.5k | −$1.31 |
| EGI | $50.3k | $18.85 |
| − OpEx | −$15.1k | −$5.65 |
| NOI | $35.2k | $13.19 |
2,669 SF · lease $20.16/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$503.1K
$440.2K – $587.0K
NOI $35,217 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$472.4K
$413.3K – $551.1K
NOI $33,065 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$616.6K
$539.6K – $719.4K
NOI $43,164 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
Explore this area
Business Placement
Demographics for 23224, VA
39,468
Population
18,201
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
80%
High-School Grad
11.6 sq mi
ZIP Area
3,402
Density / Sq Mi
$49,263
Median Household Income
$36,275
Median Earnings
$1,268
Median Rent
$189,200
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 - New-construction duplex with two upstairs bedrooms and three bedrooms upstairs, with a porch and attached garage.
Where is this duplex located?
The property is located at 115 W 10th Street Richmond, VA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Under construction duplex, scheduled completion October 2026; Downstairs unit: 2 bedrooms, 2 baths with LVP floors and quartz tops; Upstairs unit: 3 bedrooms, 2.5 baths with wood floors and quartz kitchen countertops
