Two-Unit Brick
For Sale
$455,000
222 W Marshall Street, Richmond, VA 23220
ResidentialIncome, Richmond, VA
Property Size2,142 SF
Lot Size0.03 Acres
Price / SF$212.42
Days on Market100
Property Features for 222 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, CableTv, WindowTreatments
Fireplace
1
Appliances
ElectricWaterHeater, TanklessWaterHeater
Lot features
Level
View
City
Elementary school
Carver
Middle school
Albert Hill
High school
Thomas Jefferson
Directions
East of Belvidere, between Madison and Jefferson
Subdivision
10 - Richmond
Standard status
Active
APN
N000-0150-034
Size
2,142 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
00016.71X0076.00 000.029 AC
Tax Annual Amount
5352
Legal Description
00016.71X0076.00 000.029 AC
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1900
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# 2618780
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 in Richmond contains 2,142 square feet across two apartments, each with two bedrooms and one bathroom. Both units have updated kitchens that open to the living room, hardwood floors, and generously sized bedrooms. The building dates to 1900 and includes a fireplace, porch, and garage, with additional on-street parking. Public water and sewer serve the property.
The property is on W Marshall Street in Richmond’s 23220 ZIP code. Virginia Commonwealth University, Downtown Richmond, the Arts District, restaurants, breweries, shopping, and major employers are identified as nearby destinations.
The property is on W Marshall Street in Richmond’s 23220 ZIP code. Virginia Commonwealth University, Downtown Richmond, the Arts District, restaurants, breweries, shopping, and major employers are identified as nearby destinations.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 2,142‑square‑foot brick duplex built in 1900
- Updated kitchens open to the living rooms; hardwood floors throughout the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,263
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,260
$565.3K
Cap Rate 7%
$403,757
$403.8K
Cap Rate 9%
$314,033
$314.0K
Market Conditions
NOI Build-Up for 2,142 SF
Gross rent
$43.2K $20.16/SF
− Vacancy
−$2.8K −$1.31/SF
EGI
$40.4K $18.85/SF
− OpEx
−$12.1K −$5.65/SF
NOI
$28.3K $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%
$565,260
Cap Rate 7%
$403,757
Cap Rate 9%
$314,033
Alternative Uses
Best Use
Multifamily LT 5
$403.8K
$353.3K – $471.1K
NOI $28,263 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$379.1K
$331.7K – $442.3K
NOI $26,536 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$494.9K
$433.0K – $577.4K
NOI $34,641 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
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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 apartments each offer two bedrooms, one bath, hardwood floors, and an updated kitchen connected to the living area.
Where is this duplex located?
The property is located at 222 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 apartments, each with 2 bedrooms and 1 bathroom; 2,142‑square‑foot brick duplex built in 1900; Updated kitchens open to the living rooms; hardwood floors throughout the units
