Over-Under Duplex with Private
New
For Sale
$340,000
248 Chapel Street, Hampton, VA 23669
MULTI_FAMILY - Hampton, VA
Property Size1,824 SF
Price / SF$186.40
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
1,824 SF
Taxes and HOA fees
Tax Annual Amount
3800
Utilities
Water front features
Waterfront
Amenities
large fenced private 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: Jul 31
Last Checked: Aug 2 at 7:06AM
MLS# 10645939
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Investment Insights
Based on property information with market context.
248 Chapel Street in Hampton, VA presents a recently renovated over-under duplex with two 2BR/1BA units and a large, fenced private backyard. Built in 1920, the property has shingle roofing and was updated with exterior improvements including new vinyl siding, architectural shingles, vinyl windows, and wrapped trim.
Inside, the downstairs unit includes newer appliances including a refrigerator, dishwasher, range, and microwave, while the upstairs unit features updated windows and a newer water heater. Both units benefit from interior updates highlighted by solid wood soft-close kitchen cabinets with quartz countertops, along with bathrooms that include tiled floors and tub surrounds, plus newer lighting and flooring throughout.
The duplex is described as being conveniently located near downtown. A waterfront feature is also listed for the property.
Inside, the downstairs unit includes newer appliances including a refrigerator, dishwasher, range, and microwave, while the upstairs unit features updated windows and a newer water heater. Both units benefit from interior updates highlighted by solid wood soft-close kitchen cabinets with quartz countertops, along with bathrooms that include tiled floors and tub surrounds, plus newer lighting and flooring throughout.
The duplex is described as being conveniently located near downtown. A waterfront feature is also listed for the property.
Key Highlights
- Recently renovated over‑under duplex with two 2BR/1BA units
- Exterior updates include new vinyl siding, vinyl windows, wrapped trim, and architectural shingle roofing
- Downstairs unit has newer kitchen appliances including 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 | $31.7k | $17.40 |
| − Vacancy | −$1.7k | −$0.90 |
| EGI | $30.1k | $16.50 |
| − OpEx | −$9.0k | −$4.95 |
| NOI | $21.1k | $11.55 |
1,824 SF · lease $17.40/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$300.9K
$263.3K – $351.0K
NOI $21,061 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$277.7K
$243.0K – $324.0K
NOI $19,442 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$474.3K
$415.1K – $553.4K
NOI $33,204 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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 - Recently renovated 2BR/1BA over-under duplex with modern exterior updates 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: Recently renovated over‑under duplex with two 2BR/1BA units; Exterior updates include new vinyl siding, vinyl windows, wrapped trim, and architectural shingle roofing; Downstairs unit has newer kitchen appliances including refrigerator, dishwasher, range, and microwave
