New Construction
For Sale
$718,000
Pending
117 W 10th Street, Richmond, VA 23224
ResidentialIncome, Richmond, VA
Property Size2,764 SF
Lot Size0.07 Acres
Days on Market143
Property Features for 117 W 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
R-63
Parking features
Off Street, Assigned, Garage
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
River City
High school
Armstrong
Directions
From downtown: Take Manchester Bridge south, exit onto Commerce Road and take right onto Porter Street. Take left turn onto W. 10th. Property is the first duplex on your left.
Standard status
Pending
APN
S0000041062
Size
2,764 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
MANCHESTER GARDENS L32 S1
Tax Annual Amount
2664
Legal Description
MANCHESTER GARDENS L32 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: Jun 3
Changed: Oct 23
Last Checked: Oct 23 at 5:06PM
MLS# 2615260
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.
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Investment Insights
Based on property information with market context.
This contemporary duplex is under construction and scheduled for completion in November 2026. The 2,764-square-foot property includes two residences: the lower unit offers 2 bedrooms and 2 baths, while the upper unit includes 3 bedrooms and 3 baths. Interior specifications include LVP flooring in the lower residence, wood flooring across key areas of the upper unit, ceramic-tile bathrooms, and quartz kitchen countertops. High ceilings, walk-in closets, ceiling fans, and a primary bedroom with private bath are also specified.
The property occupies 0.069 acres in Manchester, with proximity to downtown, the James River Park System, and area restaurants and breweries. Assigned, garage, and off-street parking are included, along with a porch. Public water and sewer serve the property.
The property occupies 0.069 acres in Manchester, with proximity to downtown, the James River Park System, and area restaurants and breweries. Assigned, garage, and off-street parking are included, along with a porch. Public water and sewer serve the property.
Key Highlights
- 2,764 square feet on a 0.069‑acre lot
- Scheduled for completion in November 2026; currently under construction
- Two‑unit configuration: lower unit with 2 bedrooms and 2 baths; upper unit with 3 bedrooms and 3 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,470
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,400
$729.4K
Cap Rate 7%
$521,000
$521.0K
Cap Rate 9%
$405,222
$405.2K
Market Conditions
NOI Build-Up for 2,764 SF
Gross rent
$55.7K $20.16/SF
− Vacancy
−$3.6K −$1.31/SF
EGI
$52.1K $18.85/SF
− OpEx
−$15.6K −$5.65/SF
NOI
$36.5K $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%
$729,400
Cap Rate 7%
$521,000
Cap Rate 9%
$405,222
Alternative Uses
Best Use
Multifamily LT 5
$521.0K
$455.9K – $607.8K
NOI $36,470 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$489.2K
$428.0K – $570.7K
NOI $34,242 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$638.6K
$558.8K – $745.0K
NOI $44,700 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
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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
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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 - Contemporary two-unit layout pairs differentiated bedroom counts with quartz kitchens, finished living areas, and on-site parking.
Where is this duplex located?
The property is located at 117 W 10th Street Richmond, VA.
What is the asking price?
The asking price for this property is $718,000.
What are key features of this property?
This property features: 2,764 square feet on a 0.069‑acre lot; Scheduled for completion in November 2026; currently under construction; Two‑unit configuration: lower unit with 2 bedrooms and 2 baths; upper unit with 3 bedrooms and 3 baths
