Historic Restored
For Sale
$539,900
133 W Jackson St, Richmond, VA 23220
Two separately entered residences offer updated kitchens, in-unit laundry, and individual utility service.
Property Size2,532 SF
Price / SF$213.23
Days on Market48
Property Features for 133 W Jackson St
General Information
Standard status
Active
Size
2,532 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,052
Amenities
in-unit laundry
private entrances
tankless water heaters
Building Details
Year Built
1813
Year Renovated
2014
Buildings
1
Construction
Federal-style
Listing Agency:
1st Class Real Estate Premier Homes
(804) 901-3825
Listed By:
Torey Mayfield
(804) 901-3825
Source:
Exprealty
Added: Jul 6
Changed: Aug 22
Last Checked: Aug 21 at 10:50AM
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 1st Class Real Estate Premier Homes
Investment Insights
Based on property information with market context.
The Meredith House is a Federal-style duplex originally constructed in 1813 and restored in 2014. The property contains two residences, each with 2 bedrooms, 1.5 bathrooms, spacious living areas, an updated kitchen, in-unit laundry, a private entrance, and separate utilities. Tankless water heaters serve both units, while preserved architectural details are paired with updated systems.
Located in Jackson Ward at 133 W Jackson St, the property is near the Black History Museum & Cultural Center of Virginia, VCU, VCU Medical Center, Bio+Tech Park, galleries, restaurants, breweries, theaters, and downtown Richmond’s entertainment district.
Located in Jackson Ward at 133 W Jackson St, the property is near the Black History Museum & Cultural Center of Virginia, VCU, VCU Medical Center, Bio+Tech Park, galleries, restaurants, breweries, theaters, and downtown Richmond’s entertainment district.
Key Highlights
- Federal‑style duplex originally built in 1813
- Restored in 2014 with historic details retained
- Each unit includes 2 bedrooms and 1.5 bathrooms
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
$33,409
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
6.19%
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%
$668,180
$668.2K
Cap Rate 7%
$477,271
$477.3K
Cap Rate 9%
$371,211
$371.2K
Market Conditions
NOI Build-Up for 2,532 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
$51.0K $20.16/SF
− Vacancy
−$3.3K −$1.31/SF
EGI
$47.7K $18.85/SF
− OpEx
−$14.3K −$5.65/SF
NOI
$33.4K $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 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%
$668,180
Cap Rate 7%
$477,271
Cap Rate 9%
$371,211
Alternative Uses
Best Use
Multifamily LT 5
$477.3K
$417.6K – $556.8K
NOI $33,409 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$448.1K
$392.1K – $522.8K
NOI $31,368 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$585.0K
$511.9K – $682.5K
NOI $40,948 @ 7.0% cap · market cap 7.58%
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
2,795
Businesses Nearby
Explore this area
Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
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 separately entered residences offer updated kitchens, in-unit laundry, and individual utility service.
Where is this duplex located?
The property is located at 133 W Jackson St Richmond, VA.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Federal‑style duplex originally built in 1813; Restored in 2014 with historic details retained; Each unit includes 2 bedrooms and 1.5 bathrooms
