Duplex with
New
For Sale
$375,000
2403 Semmes Ave, Richmond, VA 23225
Two residential units provide distinct one-bedroom and two-bedroom layouts, each with a kitchen and bath.
Property Size1,456 SF
Price / SF$257.55
Days on Market7
Property Features for 2403 Semmes Ave
General Information
Standard status
Active
Size
1,456 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
backyard
storage shed
laundry facilities
off-street parking
Building Details
Year Built
1926
Buildings
1
Listing Agency:
Samson Properties
Listed By:
The Elliott Real Estate Team
(804) 404-5566
Source:
Elliottreteam
Added: Sep 30
Changed: Oct 6
Last Checked: Oct 5 at 7:04PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This 1,456-square-foot duplex, built in 1926, contains two separate residences. The first-floor apartment has a living room, one bedroom, kitchen, and bath; the upper apartment includes two bedrooms, a kitchen, and a bath. Shared laundry is located on the ground floor, and the first-floor unit has been recently painted. The property is fully occupied.
Outdoor features include a large backyard and a storage shed. Off-street parking is available via the alley. The property is near downtown Richmond, with coffee shops, restaurants, parks, and breweries in the surrounding area.
Outdoor features include a large backyard and a storage shed. Off-street parking is available via the alley. The property is near downtown Richmond, with coffee shops, restaurants, parks, and breweries in the surrounding area.
Key Highlights
- 1,456‑square‑foot duplex built in 1926
- First‑floor unit has one bedroom; upper unit has two bedrooms
- Each residence includes a kitchen and bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,212
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,240
$384.2K
Cap Rate 7%
$274,457
$274.5K
Cap Rate 9%
$213,467
$213.5K
Market Conditions
NOI Build-Up for 1,456 SF
Gross rent
$29.4K $20.16/SF
− Vacancy
−$1.9K −$1.31/SF
EGI
$27.4K $18.85/SF
− OpEx
−$8.2K −$5.65/SF
NOI
$19.2K $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%
$384,240
Cap Rate 7%
$274,457
Cap Rate 9%
$213,467
Alternative Uses
Best Use
Multifamily LT 5
$274.5K
$240.2K – $320.2K
NOI $19,212 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$257.7K
$225.5K – $300.6K
NOI $18,038 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$336.4K
$294.3K – $392.5K
NOI $23,547 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 23225, VA
40,876
Population
21,545
Households
1.9
Avg Household Size
38
Median Age
41%
College-Educated
91%
High-School Grad
13.9 sq mi
ZIP Area
2,941
Density / Sq Mi
$60,865
Median Household Income
$43,550
Median Earnings
$1,311
Median Rent
$292,800
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide distinct one-bedroom and two-bedroom layouts, each with a kitchen and bath.
Where is this duplex located?
The property is located at 2403 Semmes Ave Richmond, VA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,456‑square‑foot duplex built in 1926; First‑floor unit has one bedroom; upper unit has two bedrooms; Each residence includes a kitchen and bath
