Duplex with Oversized
For Sale
$150,000
2200 Pearl St, Portsmouth, VA 23704
Two-unit property with a spacious yard, offered in as-is condition.
Property Size1,420 SF
Price / SF$105.63
Days on Market93
Property Features for 2200 Pearl St
General Information
Standard status
Active
Size
1,420 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Abrams Realty
Listed By:
Amanda Broadus
(757) 642-0118
Source:
Distinctlyrealestate
Added: Jul 20
Changed: Oct 8
Last Checked: Oct 7 at 1:15PM
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 Abrams Realty
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Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains 1,420 square feet and is situated on an oversized lot with a spacious yard. The property is offered for sale in as-is, where-is condition.
The property is located at 2200 Pearl St in Portsmouth, Virginia 23704. Its two-unit configuration and outdoor area define the primary physical characteristics of this residential income property.
The property is located at 2200 Pearl St in Portsmouth, Virginia 23704. Its two-unit configuration and outdoor area define the primary physical characteristics of this residential income property.
Key Highlights
- Duplex configuration with 1,420 square feet
- Built in 1920
- Oversized lot with a spacious yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,332
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,640
$246.6K
Cap Rate 7%
$176,171
$176.2K
Cap Rate 9%
$137,022
$137.0K
Market Conditions
NOI Build-Up for 1,420 SF
Gross rent
$19.1K $13.44/SF
− Vacancy
−$1.5K −$1.03/SF
EGI
$17.6K $12.41/SF
− OpEx
−$5.3K −$3.72/SF
NOI
$12.3K $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%
$246,640
Cap Rate 7%
$176,171
Cap Rate 9%
$137,022
Alternative Uses
Best Use
Multifamily LT 5
$176.2K
$154.2K – $205.5K
NOI $12,332 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$162.4K
$142.1K – $189.5K
NOI $11,369 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$452.1K
$395.6K – $527.4K
NOI $31,645 @ 7.0% cap · market cap 21.10%
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
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 23704, VA
19,505
Population
9,538
Households
2
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
4.5 sq mi
ZIP Area
4,334
Density / Sq Mi
$44,739
Median Household Income
$34,488
Median Earnings
$1,279
Median Rent
$197,400
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-unit property with a spacious yard, offered in as-is condition.
Where is this duplex located?
The property is located at 2200 Pearl St Portsmouth, VA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Duplex configuration with 1,420 square feet; Built in 1920; Oversized lot with a spacious yard
