Over-Under Duplex with
For Sale
$245,000
204 Central Avenue, Suffolk, VA 23434
Multi Family Residential, Over/Under, Suffolk, VA
Property Size2,200 SF
Price / SF$111.36
Days on Market8
Property Features for 204 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
URBAN
Subdivision
OLD TOWN SUFFOLK
Lot features
Shed
Elementary school
Hillpoint Elementary
Middle school
King`s Fork Middle
Standard status
Active
Size
2,200 SF
Taxes and HOA fees
Tax Annual Amount
2151
Amenities
front porch
carport
storage shed
Building Details
Year built
1920
Roof type
Shingle
Architectural style
Other
Listing Agency:
Coastal Group Inc.
(757) 720-2463
Listed By:
Alex Winfield
(757) 233-9595
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 14 at 9:06PM
MLS# 10656924
Copyright © 2026 Real Estate Information Network, Inc. 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 over-under duplex contains two 3-bedroom, 1-bath apartments, each with approximately 1,100 square feet of living area, for 2,200 square feet total. Both residences have front porches. A carport and large driveway provide on-site parking, while a detached shed is divided into two storage sections. The building dates to 1920 and has a shingle roof.
Both apartments are tenant-occupied. One tenancy runs through March 31, 2027; the other is month-to-month. Tenants pay their own utilities. The property is offered individually and is also part of a four-duplex portfolio available for consideration as a package.
Both apartments are tenant-occupied. One tenancy runs through March 31, 2027; the other is month-to-month. Tenants pay their own utilities. The property is offered individually and is also part of a four-duplex portfolio available for consideration as a package.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 bathroom
- 2,200 square feet total; approximately 1,100 square feet per apartment
- Over‑under duplex configuration with front porches at both residences
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.
How Realmo checks its estimates
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 apartments include private porches, shared parking improvements, and separate sections of storage.
Where is this duplex located?
The property is located at 204 Central Avenue 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 apartments, each with 3 bedrooms and 1 bathroom; 2,200 square feet total; approximately 1,100 square feet per apartment; Over‑under duplex configuration with front porches at both residences
