Duplex with Front
New
For Sale
$245,000
204 Central Ave, Suffolk, VA 23434
Two occupied rental units include separate porches, a carport, driveway, and divided storage shed.
Property Size2,200 SF
Price / SF$111.36
Days on Market2
Property Features for 204 Central Ave
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Asking Price
$245,000
Gross Income
$32,700
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
World Class Realty
Listed By:
Patriot Property Management
(757) 478-4881
Source:
757patriotproperty
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 9 at 6:41PM
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 World Class Realty
Investment Insights
Based on property information with market context.
Built in 1920, this 2,200-square-foot over-under duplex contains two three-bedroom, one-bath units, each measuring approximately 1,100 square feet. Both residences are tenant-occupied and have front porches. A carport, large driveway, and storage shed with two separate sections serve the property.
One tenancy runs through March 31, 2027; the other is month to month. Tenants are responsible for all utilities. The duplex is offered individually and is also part of a four-property duplex portfolio for which package offers will be considered.
One tenancy runs through March 31, 2027; the other is month to month. Tenants are responsible for all utilities. The duplex is offered individually and is also part of a four-property duplex portfolio for which package offers will be considered.
Key Highlights
- Two over‑under units, each with 3 bedrooms and 1 bath
- 2,200 square feet total; approximately 1,100 square feet per unit
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,401
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,020
$448.0K
Cap Rate 7%
$320,014
$320.0K
Cap Rate 9%
$248,900
$248.9K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$43.6K $19.80/SF
− Vacancy
−$2.8K −$1.29/SF
EGI
$40.7K $18.51/SF
− OpEx
−$18.3K −$8.33/SF
NOI
$22.4K $10.18/SF
Area
Suffolk County, VA
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,020
Cap Rate 7%
$320,014
Cap Rate 9%
$248,900
Alternative Uses
Best Use
Multifamily LT 5
$359.2K
$314.3K – $419.1K
NOI $25,143 @ 7.0% cap · market cap 10.26%
Second Best
Apartment 5plus
$320.0K
$280.0K – $373.4K
NOI $22,401 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$509.8K
$446.1K – $594.7K
NOI $35,684 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 23434, VA
51,430
Population
21,764
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
90%
High-School Grad
206.8 sq mi
ZIP Area
249
Density / Sq Mi
$75,798
Median Household Income
$47,291
Median Earnings
$1,242
Median Rent
$293,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied rental units include separate porches, a carport, driveway, and divided storage shed.
Where is this duplex located?
The property is located at 204 Central Ave Suffolk, VA.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two over‑under units, each with 3 bedrooms and 1 bath; 2,200 square feet total; approximately 1,100 square feet per unit; Built in 1920
