Brick
27 Carver Circle, Portsmouth, VA 23701
For Sale
$199,000
Multi Family Residential, Side by Side, Portsmouth, VA
Property Size1,380 SF
Price / SF$144.20
Days on Market70
Property Features for 27 Carver Circle
General Information
Property type
Property subtype
Zoning
Subdivision
Elementary school
Middle school
Standard status
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Roof type
Architectural style
Buildings
Listing Agency:
Redfin Corporation
(703) 665-6665
Listed By:
Sara Dunbar
(571) 730-7004
Added: Sep 2
Changed: Nov 10
Last Checked: Nov 10 at 6:06PM
MLS# 10651906
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.
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Investment Insights
Based on property information with market context.
Built in 1942, this one-level brick duplex contains 1,380 square feet across two residences. Each unit has two bedrooms, one bathroom, a kitchen, and a combined living and dining area, with approximately 690 square feet per unit. The roof is shingle, and the property is zoned URH.
One unit is occupied under a renewed annual lease through February 2027. The other is vacant and requires renovation. Occupants are responsible for their own utilities. The property is near I-264 and the Shipyard in Portsmouth, Virginia.
One unit is occupied under a renewed annual lease through February 2027. The other is vacant and requires renovation. Occupants are responsible for their own utilities. The property is near I-264 and the Shipyard in Portsmouth, Virginia.
Key Highlights
- Two‑unit duplex totaling 1,380 square feet
- Each residence has 2 bedrooms, 1 bathroom, and approximately 690 square feet
- One‑level brick construction; built in 1942 with a shingle roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,985
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$239,700
$239.7K
Cap Rate 7%
$171,214
$171.2K
Cap Rate 9%
$133,167
$133.2K
Market Conditions
NOI Build-Up for 1,380 SF
Gross rent
$18.5K $13.44/SF
− Vacancy
−$1.4K −$1.03/SF
EGI
$17.1K $12.41/SF
− OpEx
−$5.1K −$3.72/SF
NOI
$12.0K $8.68/SF
Area
Portsmouth County, VA
Vacancy
7.69%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$239,700
Cap Rate 7%
$171,214
Cap Rate 9%
$133,167
Alternative Uses
Best Use
Multifamily LT 5
$171.2K
$149.8K – $199.8K
NOI $11,985 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$157.8K
$138.1K – $184.2K
NOI $11,049 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$439.3K
$384.4K – $512.6K
NOI $30,754 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
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Business Placement
Demographics for 23701, VA
24,629
Population
10,318
Households
2.4
Avg Household Size
41
Median Age
23%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,199
Density / Sq Mi
$63,389
Median Household Income
$44,633
Median Earnings
$1,313
Median Rent
$218,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Portsmouth, VA
Properties on Market for Duplexes in Portsmouth
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is leased through February 2027, while the second is vacant and ready for renovation.
Where is this duplex located?
The property is located at 27 Carver Circle Portsmouth, VA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,380 square feet; Each residence has 2 bedrooms, 1 bathroom, and approximately 690 square feet; One‑level brick construction; built in 1942 with a shingle roof
