Recently Renovated Over/Under
New
For Sale
$340,000
248 Chapel Street, Hampton, VA 23669
MULTI_FAMILY - Hampton, VA
Property Size1,890 SF
Price / SF$179.89
Days on Market5
Property Features for 248 Chapel Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
ALL OTHERS AREA 102
Elementary school
A.W.E. Bassette Elementary
Middle school
C. Alton Lindsay Middle
Standard status
Active
Size
1,890 SF
Taxes and HOA fees
Tax Annual Amount
3800
Utilities
Water front features
Waterfront
Amenities
fenced backyard
Building Details
Year built
1920
Roof type
Shingle
Architectural style
Other
Listing Agency:
Iron Valley Real Estate Prestige
(757) 432-4873
Listed By:
Tiara Davulco
(757) 432-4873
Added: Jul 29
Changed: Aug 2
Last Checked: Aug 2 at 8:06AM
MLS# 10645939
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.
248 Chapel Street in Hampton, VA is a recently renovated over/under duplex with a shingle roof and a 1920 build date. The property totals 1,890 SF and features exterior updates including new vinyl siding, architectural shingles, vinyl windows, and wrapped trim.
Inside, both units have been updated with newer finishes. The downstairs unit is a 2BR/1BA with a newer refrigerator, dishwasher, range, and microwave. The upstairs unit is also a 2BR/1BA with updated windows and a newer water heater. Bathrooms include tiled floors and tub surrounds, along with newer lighting and flooring throughout.
The duplex also includes a large, fenced private backyard. A waterfront feature is listed for the property.
Inside, both units have been updated with newer finishes. The downstairs unit is a 2BR/1BA with a newer refrigerator, dishwasher, range, and microwave. The upstairs unit is also a 2BR/1BA with updated windows and a newer water heater. Bathrooms include tiled floors and tub surrounds, along with newer lighting and flooring throughout.
The duplex also includes a large, fenced private backyard. A waterfront feature is listed for the property.
Key Highlights
- 1,890 SF over/under duplex near downtown with a shingle roof built in 1920
- Exterior updates include new vinyl siding, architectural shingles, vinyl windows, and wrapped trim
- Downstairs unit: 2BR/1BA with newer refrigerator, dishwasher, range, and microwave
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.9k | $17.40 |
| − Vacancy | −$1.7k | −$0.90 |
| EGI | $31.2k | $16.50 |
| − OpEx | −$9.4k | −$4.95 |
| NOI | $21.8k | $11.55 |
1,890 SF · lease $17.40/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$311.8K
$272.8K – $363.7K
NOI $21,823 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$287.8K
$251.8K – $335.8K
NOI $20,146 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$491.5K
$430.1K – $573.4K
NOI $34,406 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
971
Businesses Nearby
Explore this area
Business Placement
Demographics for 23669, VA
41,030
Population
17,589
Households
2.3
Avg Household Size
38
Median Age
31%
College-Educated
94%
High-School Grad
12.1 sq mi
ZIP Area
3,391
Density / Sq Mi
$66,999
Median Household Income
$41,874
Median Earnings
$1,202
Median Rent
$246,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Over/under duplex with two 2BR/1BA units, updated interiors, and a large fenced private backyard.
Where is this duplex located?
The property is located at 248 Chapel Street Hampton, VA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1,890 SF over/under duplex near downtown with a shingle roof built in 1920; Exterior updates include new vinyl siding, architectural shingles, vinyl windows, and wrapped trim; Downstairs unit: 2BR/1BA with newer refrigerator, dishwasher, range, and microwave
