Modern Duplex with Open
For Sale
$709,999
206 W 14th St, Richmond, VA 23224
Two contemporary residences offer flexible occupancy options, updated finishes, and convenient access to Richmond’s urban amenities.
Property Size2,996 SF
Price / SF$236.98
Days on Market88
Property Features for 206 W 14th St
General Information
Standard status
Active
Size
2,996 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2021
Listing Agency:
United Real Estate Richmond
Listed By:
Kelly Rivers · License #0225224862
(804) 314-6967
Source:
Onedreamrealty
Added: Jul 21
Changed: Sep 14
Last Checked: Oct 7 at 4:29PM
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 United Real Estate Richmond
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Investment Insights
Based on property information with market context.
Built in 2021, this duplex contains two residences within approximately 2,996 square feet. Each unit features a contemporary interior with open-concept living areas, abundant natural light, stylish finishes, and a low-maintenance design. The two-unit configuration supports separate occupancy while offering flexibility for an owner-occupant or rental strategy.
The property is located in Manchester, minutes from Virginia Commonwealth University, Downtown Richmond, and the Central Business District. Nearby destinations include restaurants, breweries, coffee shops, art galleries, entertainment venues, Brown’s Island, Belle Isle, the Canal Walk, and the James River Park System, with access to walking, biking, kayaking, and river overlooks.
The property is located in Manchester, minutes from Virginia Commonwealth University, Downtown Richmond, and the Central Business District. Nearby destinations include restaurants, breweries, coffee shops, art galleries, entertainment venues, Brown’s Island, Belle Isle, the Canal Walk, and the James River Park System, with access to walking, biking, kayaking, and river overlooks.
Key Highlights
- Two‑residence duplex totaling 2,996 square feet
- Constructed in 2021
- Open‑concept interiors with abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,531
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$790,620
$790.6K
Cap Rate 7%
$564,729
$564.7K
Cap Rate 9%
$439,233
$439.2K
Market Conditions
NOI Build-Up for 2,996 SF
Gross rent
$60.4K $20.16/SF
− Vacancy
−$3.9K −$1.31/SF
EGI
$56.5K $18.85/SF
− OpEx
−$16.9K −$5.65/SF
NOI
$39.5K $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%
$790,620
Cap Rate 7%
$564,729
Cap Rate 9%
$439,233
Alternative Uses
Best Use
Multifamily LT 5
$564.7K
$494.1K – $658.9K
NOI $39,531 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$530.2K
$464.0K – $618.6K
NOI $37,116 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$692.2K
$605.7K – $807.5K
NOI $48,452 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
974
Businesses Nearby
Explore this area
Business Placement
Demographics for 23224, VA
39,468
Population
18,201
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
80%
High-School Grad
11.6 sq mi
ZIP Area
3,402
Density / Sq Mi
$49,263
Median Household Income
$36,275
Median Earnings
$1,268
Median Rent
$189,200
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
Frequently Asked Questions
What type of property is this?
Duplex - Two contemporary residences offer flexible occupancy options, updated finishes, and convenient access to Richmond’s urban amenities.
Where is this duplex located?
The property is located at 206 W 14th St Richmond, VA.
What is the asking price?
The asking price for this property is $709,999.
What are key features of this property?
This property features: Two‑residence duplex totaling 2,996 square feet; Constructed in 2021; Open‑concept interiors with abundant natural light
