Updated Duplex with Detached
New
For Sale
$335,000
2102 Elm Ave, Portsmouth, VA 23702
Two separately metered residences offer flexible layouts, office areas, and a deep lot with storage.
Property Size1,689 SF
Price / SF$198.34
Days on Market6
Property Features for 2102 Elm Ave
General Information
Standard status
Active
Size
1,689 SF
Total Parking Spaces
1
Property subtype
Multi Family Home
Zoning
UR
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Amenities
laundry room
storage areas
Building Details
Building Size
1,689 SF
Year Built
1910
Buildings
1
Stories
2
Listing Agency:
Howard Hanna Real Estate Svcs.
(757) 483-0306
Listed By:
Danielle Sticha
Source:
Hoggerealestate
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 30 at 11:47PM
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 Howard Hanna Real Estate Svcs.
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.
This UR-zoned duplex contains two residences, each with its own entrance and utility meter. The first-floor unit has two bedrooms, one bathroom, a living room, office area, laundry room with storage, and an eat-in kitchen. Upstairs, the layout can accommodate two bedrooms depending on needs, along with an office and one bathroom. The property totals 1,689 square feet.
Updates include a 2023 roof, windows, and appliances. A detached one-car garage and additional storage areas sit on the deep lot. Built in 1910, the property is located at 2102 Elm Ave in Portsmouth, with access to shops, dining, medical services, and the interstate.
Updates include a 2023 roof, windows, and appliances. A detached one-car garage and additional storage areas sit on the deep lot. Built in 1910, the property is located at 2102 Elm Ave in Portsmouth, with access to shops, dining, medical services, and the interstate.
Key Highlights
- Two residences with separate entrances and utility meters
- First‑floor unit: 2 bedrooms, 1 bathroom, living room, office area, laundry, and eat‑in kitchen
- Upper unit can be configured with 2 bedrooms, plus an office and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,668
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,360
$293.4K
Cap Rate 7%
$209,543
$209.5K
Cap Rate 9%
$162,978
$163.0K
Market Conditions
NOI Build-Up for 1,689 SF
Gross rent
$22.7K $13.44/SF
− Vacancy
−$1.7K −$1.03/SF
EGI
$21.0K $12.41/SF
− OpEx
−$6.3K −$3.72/SF
NOI
$14.7K $8.68/SF
Area
Portsmouth County, VA
Vacancy
7.69%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,360
Cap Rate 7%
$209,543
Cap Rate 9%
$162,978
Alternative Uses
Best Use
Multifamily LT 5
$209.5K
$183.4K – $244.5K
NOI $14,668 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$193.2K
$169.0K – $225.4K
NOI $13,523 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$537.7K
$470.5K – $627.3K
NOI $37,640 @ 7.0% cap · market cap 11.24%
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
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 23702, VA
12,239
Population
5,278
Households
2.3
Avg Household Size
33
Median Age
9%
College-Educated
91%
High-School Grad
2.4 sq mi
ZIP Area
5,100
Density / Sq Mi
$48,288
Median Household Income
$35,716
Median Earnings
$1,228
Median Rent
$188,600
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 separately metered residences offer flexible layouts, office areas, and a deep lot with storage.
Where is this duplex located?
The property is located at 2102 Elm Ave Portsmouth, VA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Two residences with separate entrances and utility meters; First‑floor unit: 2 bedrooms, 1 bathroom, living room, office area, laundry, and eat‑in kitchen; Upper unit can be configured with 2 bedrooms, plus an office and 1 bathroom
