New Construction Duplex Income
117 W 10th Street Richmond, VA 23224
117 W 10th Street, Richmond, VA, 23224
$718,000
Pending
For Sale
$718,000
Pending
MULTI_FAMILY - Contemporary - Richmond, VA
Property Size2,764 SF
Lot Size0.07 Acres
Days on Market49
Property Features for 117 W 10th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Property condition
- Under Construction
- Parking features
- Assigned, Garage, Off Street
- Window features
- Screens
- Patio and Porch features
- Porch
- Interior features
- CeilingFans, GraniteCounters, HighCeilings, BathInPrimaryBedroom, WalkInClosets
- Appliances
- ElectricWaterHeater
- 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
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 Updated: Jul 17 at 5:25PM Checked: Jul 21 at 1:06PM
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.
Investment Insights
Based on property information with market context.
This new construction duplex is scheduled for completion in November 2026 and designed as two separate residential units. The downstairs unit offers 2 bedrooms and 2 bathrooms, with LVP flooring and quartz countertops. The upstairs unit provides 3 bedrooms and 3 bathrooms, featuring wood floors in the living room, kitchen, master bedroom, stairs, and hallways, along with ceramic tile in the bathrooms and quartz kitchen countertops.
Located in historic Manchester in Richmond, VA, the property is positioned for convenient access to downtown and the James River Park System. The area also includes new restaurants and breweries, supporting a lively nearby tenant and lifestyle environment.
For buyers seeking a residential income property, this duplex offers a straightforward two-unit setup with distinct bedroom and bath configurations between the lower and upper levels. The modern interior finish package includes quartz surfaces and durable flooring materials, which can help reduce turnover friction. The scheduled November 2026 completion provides a defined timeline for an owner-operator or investor preparing to take occupancy at delivery.
Located in historic Manchester in Richmond, VA, the property is positioned for convenient access to downtown and the James River Park System. The area also includes new restaurants and breweries, supporting a lively nearby tenant and lifestyle environment.
For buyers seeking a residential income property, this duplex offers a straightforward two-unit setup with distinct bedroom and bath configurations between the lower and upper levels. The modern interior finish package includes quartz surfaces and durable flooring materials, which can help reduce turnover friction. The scheduled November 2026 completion provides a defined timeline for an owner-operator or investor preparing to take occupancy at delivery.
Key Highlights
- New construction scheduled for completion in November 2026 (Year built: 2026)
- Duplex‑style layout: downstairs has 2 bedrooms and 2 baths; upstairs has 3 bedrooms and 3 baths
- Downstairs features include LVP floors and quartz countertops
Local 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 | $55.7k | $20.16 |
| − Vacancy | −$3.6k | −$1.31 |
| EGI | $52.1k | $18.85 |
| − OpEx | −$15.6k | −$5.65 |
| NOI | $36.5k | $13.19 |
2,764 SF · lease $20.16/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex with modern finishes, newly constructed and scheduled for completion in November 2026.
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: New construction scheduled for completion in November 2026 (Year built: 2026); Duplex‑style layout: downstairs has 2 bedrooms and 2 baths; upstairs has 3 bedrooms and 3 baths; Downstairs features include LVP floors and quartz countertops
