Two-Unit
1517 N 22nd St, Richmond, VA 23223
For Sale
$419,900
Separate two- and three-bedroom residences provide distinct living spaces within one property.
Property Size2,894 SF
Price / SF$145.09
Days on Market15
Property Features for 1517 N 22nd St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
Samson Properties
(804) 430-9410
Listed By:
The Elliott Real Estate Team
(804) 404-5566
Source:
Elliottreteam
Added: Oct 26
Changed: Nov 8
Last Checked: Nov 8 at 6:10AM
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 Samson Properties
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Investment Insights
Based on property information with market context.
This duplex contains two separate residences. One offers 2 bedrooms and 1 full bathroom across approximately 1,300 square feet; the other has 3 bedrooms and 1 full bathroom in approximately 1,500 square feet. The property is listed at 2,894 square feet and was built in 1900.
The property is in Richmond’s Church Hill neighborhood, with restaurants, shops, parks, downtown Richmond, and major commuter routes identified as nearby. These location details complement the building’s two-unit configuration.
The property is in Richmond’s Church Hill neighborhood, with restaurants, shops, parks, downtown Richmond, and major commuter routes identified as nearby. These location details complement the building’s two-unit configuration.
Key Highlights
- Two separate units, with a combined listed property size of 2,894 square feet
- One unit has 2 bedrooms, 1 full bathroom, and approximately 1300 sq ft
- Second unit includes 3 bedrooms, 1 full bathroom, and approximately 1500 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,186
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,720
$763.7K
Cap Rate 7%
$545,514
$545.5K
Cap Rate 9%
$424,289
$424.3K
Market Conditions
NOI Build-Up for 2,894 SF
Gross rent
$58.3K $20.16/SF
− Vacancy
−$3.8K −$1.31/SF
EGI
$54.6K $18.85/SF
− OpEx
−$16.4K −$5.65/SF
NOI
$38.2K $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%
$763,720
Cap Rate 7%
$545,514
Cap Rate 9%
$424,289
Alternative Uses
Best Use
Multifamily LT 5
$545.5K
$477.3K – $636.4K
NOI $38,186 @ 7.0% cap · market cap 9.09%
Second Best
Apartment 5plus
$512.2K
$448.2K – $597.5K
NOI $35,852 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$668.6K
$585.0K – $780.1K
NOI $46,803 @ 7.0% cap · market cap 11.15%
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
521
Businesses Nearby
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Business Placement
Demographics for 23223, VA
51,960
Population
27,141
Households
1.9
Avg Household Size
35
Median Age
32%
College-Educated
90%
High-School Grad
16.7 sq mi
ZIP Area
3,111
Density / Sq Mi
$56,518
Median Household Income
$39,828
Median Earnings
$1,224
Median Rent
$236,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Richmond, VA
Properties on Market for Duplexes in Richmond
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate two- and three-bedroom residences provide distinct living spaces within one property.
Where is this duplex located?
The property is located at 1517 N 22nd St Richmond, VA.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Two separate units, with a combined listed property size of 2,894 square feet; One unit has 2 bedrooms, 1 full bathroom, and approximately 1300 sq ft; Second unit includes 3 bedrooms, 1 full bathroom, and approximately 1500 sq ft
