Duplex with Updated
New
For Sale
$980,000
207 89th St, Virginia Beach, VA 23451
Two separate residences retain interior connectivity and have their own private entrances.
Property Size2,419 SF
Price / SF$405.13
Days on Market3
Property Features for 207 89th St
General Information
Standard status
Active
Size
2,419 SF
Property subtype
Multi Family Home
Zoning
R5R
Building Details
Building Size
2,419 SF
Year Built
1969
Listing Agency:
Hogge Real Estate Inc
Listed By:
Wendy Hogge · License #0225104842
(804) 815-2355
Source:
Hoggerealestate
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 3:42AM
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 Hogge Real Estate Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1969, this R5R-zoned duplex contains two connected residences totaling 2,419 square feet. The larger residence measures approximately 1,339 square feet and includes an updated kitchen, fireplace, primary suite with adjoining flexible space, en-suite bath with jetted tub, balcony, and rooftop terrace. The second residence is approximately 1,080 square feet, with a private entrance, interior connection to the other unit, updated kitchen, fireplace, two bedrooms, full bath, patio, and outdoor shower. Both kitchens have newer appliances. Recent work includes a new roof, exterior paint, landscaping, and improvements to the outdoor areas.
The property is a five-minute walk from the beach in Virginia Beach’s North End. Its two-unit layout, separate entrances, and interior connection provide distinct configurations within one property.
The property is a five-minute walk from the beach in Virginia Beach’s North End. Its two-unit layout, separate entrances, and interior connection provide distinct configurations within one property.
Key Highlights
- Two connected residences total 2,419 square feet
- Larger residence: approximately 1,339 square feet; second residence: approximately 1,080 square feet
- R5R zoning; built in 1969
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,683
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,660
$633.7K
Cap Rate 7%
$452,614
$452.6K
Cap Rate 9%
$352,033
$352.0K
Market Conditions
NOI Build-Up for 2,419 SF
Gross rent
$47.9K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$45.3K $18.71/SF
− OpEx
−$13.6K −$5.61/SF
NOI
$31.7K $13.10/SF
Area
Virginia Beach, VA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,660
Cap Rate 7%
$452,614
Cap Rate 9%
$352,033
Alternative Uses
Best Use
Multifamily LT 5
$452.6K
$396.0K – $528.1K
NOI $31,683 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$419.5K
$367.0K – $489.4K
NOI $29,362 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$620.5K
$543.0K – $724.0K
NOI $43,438 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 23451, VA
44,879
Population
24,897
Households
1.8
Avg Household Size
41
Median Age
57%
College-Educated
97%
High-School Grad
19.8 sq mi
ZIP Area
2,267
Density / Sq Mi
$97,945
Median Household Income
$57,472
Median Earnings
$1,697
Median Rent
$591,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences retain interior connectivity and have their own private entrances.
Where is this duplex located?
The property is located at 207 89th St Virginia Beach, VA.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Two connected residences total 2,419 square feet; Larger residence: approximately 1,339 square feet; second residence: approximately 1,080 square feet; R5R zoning; built in 1969
