Duplex with Updated
138 Dupre Ave, Norfolk, VA 23503
For Sale
New
$360,000
Both residences have individual utility meters, with occupants responsible for their own utility costs.
Property Size1,434 SF
Price / SF$251.05
Days on Market3
Property Features for 138 Dupre Ave
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Listing Agency:
Renters Warehouse
(757) 272-1616
Listed By:
Sean Campbell
Source:
Jamesallengroup
Added: Nov 11
Last Checked: Nov 13 at 4:14AM
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 Renters Warehouse
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Investment Insights
Based on property information with market context.
This 1,434-square-foot duplex, built in 1961, has tenants in place and includes a three-bedroom unit. Recent work includes a replacement roof, HVAC systems, plumbing and electrical updates, new flooring and cabinetry, and fresh interior paint. The property is zoned IN-1, and each residence has its own utility meter, with tenants paying utility costs.
The property is six blocks from the Chesapeake Bay and 6 miles from both Norfolk Naval Base and the Hampton Roads Bridge-Tunnel.
The property is six blocks from the Chesapeake Bay and 6 miles from both Norfolk Naval Base and the Hampton Roads Bridge-Tunnel.
Key Highlights
- 1,434 square feet across two residences
- Three‑bedroom unit included
- Tenants in place; each unit has a separate utility meter and tenants pay utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,782
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$375,640
$375.6K
Cap Rate 7%
$268,314
$268.3K
Cap Rate 9%
$208,689
$208.7K
Market Conditions
NOI Build-Up for 1,434 SF
Gross rent
$28.4K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$26.8K $18.71/SF
− OpEx
−$8.0K −$5.61/SF
NOI
$18.8K $13.10/SF
Area
Norfolk, VA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$375,640
Cap Rate 7%
$268,314
Cap Rate 9%
$208,689
Alternative Uses
Best Use
Multifamily LT 5
$268.3K
$234.8K – $313.0K
NOI $18,782 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$241.0K
$210.9K – $281.1K
NOI $16,868 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$304.2K
$266.2K – $354.9K
NOI $21,294 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
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Business Placement
Demographics for 23503, VA
31,932
Population
15,350
Households
2.1
Avg Household Size
35
Median Age
31%
College-Educated
91%
High-School Grad
5.0 sq mi
ZIP Area
6,386
Density / Sq Mi
$62,428
Median Household Income
$42,850
Median Earnings
$1,195
Median Rent
$273,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Norfolk, VA
Properties on Market for Duplexes in Norfolk
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have individual utility meters, with occupants responsible for their own utility costs.
Where is this duplex located?
The property is located at 138 Dupre Ave Norfolk, VA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1,434 square feet across two residences; Three‑bedroom unit included; Tenants in place; each unit has a separate utility meter and tenants pay utilities
