Two-Unit Duplex with Updated
For Sale
$455,000
220 W Marshall Street, Richmond, VA 23220
ResidentialIncome, Richmond, VA
Property Size2,022 SF
Lot Size0.03 Acres
Price / SF$225.02
Days on Market100
Property Features for 220 W Marshall Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
R-02
Parking features
Garage, On Street
Patio and Porch features
Porch
Interior features
EatInKitchen, Fireplace, GraniteCounters, HighCeilings, KitchenIsland, CableTv, WindowTreatments
Fireplace
1
Appliances
ElectricWaterHeater, WaterHeater
Lot features
Level
View
City
Elementary school
Carver
Middle school
Albert Hill
High school
Thomas Jefferson
Directions
On West Marshall east of Belvidere between Madison and Jefferson
Subdivision
10 - Richmond
Standard status
Active
APN
N000-0150-035
Size
2,022 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
00016.71X0076.00 000.029 AC
Tax Annual Amount
5304
Legal Description
00016.71X0076.00 000.029 AC
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Building materials
Brick, Drywall
Roof type
Flat, Rubber
Architectural style
Other
Listing Agency:
Snipes Properties
(804) 234-3373
Listed By:
Timea Harisova · License #0225196582
(804) 240-1120
Added: Jul 9
Changed: Oct 15
Last Checked: Oct 16 at 6:06PM
MLS# 2618774
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.
This brick duplex contains two 2-bedroom, 1-bath units across 2,022 square feet. Each residence has an updated kitchen connected to the living room, along with hardwood floors and generously sized bedrooms. Interior features include high ceilings, granite counters, a kitchen island and a fireplace. The property was built in 1910 and includes a porch, garage and on-street parking.
Set on a 0.029-acre lot at 220 W Marshall Street in Richmond, the property is near Virginia Commonwealth University, downtown, the Arts District, restaurants, breweries, shopping and major employers. Public water and sewer serve the site.
Set on a 0.029-acre lot at 220 W Marshall Street in Richmond, the property is near Virginia Commonwealth University, downtown, the Arts District, restaurants, breweries, shopping and major employers. Public water and sewer serve the site.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 2,022 square feet on a 0.029‑acre lot
- Updated kitchens open to the living rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,680
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,600
$533.6K
Cap Rate 7%
$381,143
$381.1K
Cap Rate 9%
$296,444
$296.4K
Market Conditions
NOI Build-Up for 2,022 SF
Gross rent
$40.8K $20.16/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$38.1K $18.85/SF
− OpEx
−$11.4K −$5.65/SF
NOI
$26.7K $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%
$533,600
Cap Rate 7%
$381,143
Cap Rate 9%
$296,444
Alternative Uses
Best Use
Multifamily LT 5
$381.1K
$333.5K – $444.7K
NOI $26,680 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$357.8K
$313.1K – $417.5K
NOI $25,049 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$467.1K
$408.8K – $545.0K
NOI $32,700 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,611
Businesses Nearby
Explore this area
Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
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-bedroom residences feature hardwood floors, fireplaces and kitchen layouts that open to the living areas.
Where is this duplex located?
The property is located at 220 W Marshall Street Richmond, VA.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 2,022 square feet on a 0.029‑acre lot; Updated kitchens open to the living rooms
