Two-Unit Duplex with Water
For Sale
$419,900
226 S Willard Avenue, Hampton, VA 23663
Multi Family Residential, Converted S.F., Over/Under, Hampton, VA
Property Size2,740 SF
Price / SF$153.25
Days on Market111
Property Features for 226 S Willard Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R13
Subdivision
PHOEBUS
Lot features
Corner
Elementary school
Jane H. Bryan Elementary
Middle school
C. Alton Lindsay Middle
Directions
Use GPS
Standard status
Active
Size
2,740 SF
Taxes and HOA fees
Tax Annual Amount
4690
Utilities
Water front features
Creek
Water front
1
Amenities
double covered porches
detached garage
Building Details
Year built
1893
Roof type
Shingle, Slate
Architectural style
Other
Listing Agency:
EXP Realty LLC
(866) 825-7169
Listed By:
Joyclyn Kananen
(336) 486-8272
Added: Jun 18
Changed: Sep 22
Last Checked: Oct 6 at 12:06PM
MLS# 10640266
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1893, this 2,740-square-foot, two-story duplex occupies a corner lot and contains two distinct units. Each unit provides three bedrooms and one full bathroom, while the interior retains hardwood flooring, tall ceilings, built-in shelving, and ceramic tile in the bathrooms. The layout can also be reconfigured as a single-family residence with six bedrooms and two bathrooms.
Outdoor features include double covered porches, an upper-level porch and deck with partial views toward Mill Creek and the Bay, and a detached garage. The property is located near downtown Phoebus, Fort Monroe, and Buckroe Beach. Zoning is R13, and the property includes creek waterfront features. It is offered as-is, with cosmetic work noted in the source information, including painting and a ceiling drywall patch related to a previously resolved leak in the upper unit.
Outdoor features include double covered porches, an upper-level porch and deck with partial views toward Mill Creek and the Bay, and a detached garage. The property is located near downtown Phoebus, Fort Monroe, and Buckroe Beach. Zoning is R13, and the property includes creek waterfront features. It is offered as-is, with cosmetic work noted in the source information, including painting and a ceiling drywall patch related to a previously resolved leak in the upper unit.
Key Highlights
- Duplex configuration with 2 units, each offering 3 bedrooms and 1 full bath
- 2,740 SF two‑story property built in 1893
- Convertible layout supports a 6‑bedroom, 2‑bathroom single‑family configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,638
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,760
$632.8K
Cap Rate 7%
$451,971
$452.0K
Cap Rate 9%
$351,533
$351.5K
Market Conditions
NOI Build-Up for 2,740 SF
Gross rent
$47.7K $17.40/SF
− Vacancy
−$2.5K −$0.90/SF
EGI
$45.2K $16.50/SF
− OpEx
−$13.6K −$4.95/SF
NOI
$31.6K $11.55/SF
Area
Hampton, VA
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,760
Cap Rate 7%
$451,971
Cap Rate 9%
$351,533
Alternative Uses
Best Use
Multifamily LT 5
$452.0K
$395.5K – $527.3K
NOI $31,638 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$417.2K
$365.1K – $486.8K
NOI $29,206 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$712.6K
$623.5K – $831.3K
NOI $49,879 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 23663, VA
13,374
Population
6,246
Households
2.1
Avg Household Size
37
Median Age
17%
College-Educated
92%
High-School Grad
2.8 sq mi
ZIP Area
4,776
Density / Sq Mi
$59,397
Median Household Income
$34,665
Median Earnings
$1,248
Median Rent
$187,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer three bedrooms and one bath apiece, with a possible six-bedroom single-home configuration.
Where is this duplex located?
The property is located at 226 S Willard Avenue Hampton, VA.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Duplex configuration with 2 units, each offering 3 bedrooms and 1 full bath; 2,740 SF two‑story property built in 1893; Convertible layout supports a 6‑bedroom, 2‑bathroom single‑family configuration
