Contemporary
For Sale
$709,999
206 W 14th Street, Richmond, VA 23224
ResidentialIncome, Richmond, VA
Property Size2,996 SF
Lot Size0.08 Acres
Price / SF$236.98
Days on Market106
Property Features for 206 W 14th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-8
Parking features
Assigned, On Street, Off Street
Patio and Porch features
Porch
Interior features
CeilingFans, GraniteCounters, HighCeilings, KitchenIsland, BathInPrimaryBedroom, WalkInClosets
Appliances
ElectricWaterHeater
Subdivision
Manchester
Lot features
Corner Lot
Elementary school
Blackwell
Middle school
Dogwood
High school
Armstrong
Directions
From downtown, travel Route 60 to Parry Street, make a right. Make a left on 14th Street.
Standard status
Active
APN
S000-0155-017
Size
2,996 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0029.00X0132.00 IRG0000.079 AC
Tax Annual Amount
8328
Legal Description
0029.00X0132.00 IRG0000.079 AC
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2021
Floors in Building
3
Number of units
2
Building materials
Drywall, Frame, HardiplankType, WoodSiding
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
United Real Estate Richmond
(804) 359-9200
Listed By:
Kelly Rivers · License #0225224862
(804) 314-6967
Added: Jul 10
Changed: Oct 22
Last Checked: Oct 23 at 8:06PM
MLS# 2618895
Copyright © 2026 Central Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2021, this contemporary duplex contains two residences within 2,996 square feet on a 0.0793-acre lot. Interior features include high ceilings, granite counters, kitchen islands, ceiling fans, and walk-in closets. Each residence also has a porch, and the property includes assigned, off-street, and on-street parking options. Public water and sewer serve the property.
The duplex is in Richmond’s Manchester area, with Virginia Commonwealth University, Downtown Richmond, and the Central Business District nearby. Brown’s Island, Belle Isle, the Canal Walk, and the James River Park System are also in the surrounding area.
The duplex is in Richmond’s Manchester area, with Virginia Commonwealth University, Downtown Richmond, and the Central Business District nearby. Brown’s Island, Belle Isle, the Canal Walk, and the James River Park System are also in the surrounding area.
Key Highlights
- Two residences in a 2,996‑square‑foot duplex
- Built in 2021 on a 0.0793‑acre lot
- Granite counters, kitchen islands, high ceilings, and walk‑in closets
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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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences provide a flexible configuration for rental use or owner occupancy.
Where is this duplex located?
The property is located at 206 W 14th Street 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 residences in a 2,996‑square‑foot duplex; Built in 2021 on a 0.0793‑acre lot; Granite counters, kitchen islands, high ceilings, and walk‑in closets
