Updated
For Sale
$339,999
Pending
2801 4th Ave, Richmond, VA 23222
Two residential units support flexible owner-occupant or rental use.
Property Size2,230 SF
Days on Market13
Property Features for 2801 4th Ave
General Information
Standard status
Pending
Size
2,230 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,508
Listing Agency:
Samson Properties
(804) 339-8603
Listed By:
Luke Catron
(804) 339-8603
Source:
Exprealty
Added: Jul 31
Changed: Aug 11
Last Checked: Aug 11 at 11:37AM
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.
Located at 2801 4th Ave in Richmond’s Northside, this 2,230-square-foot duplex contains two residential units with refreshed interiors and updated finishes. The configuration supports occupancy in one unit while the other is rented, or rental use across both units.
The property is near downtown Richmond, major highways, restaurants, shopping, and local parks. Each unit provides an updated living environment while retaining the character of the home, creating a practical layout for either an owner-occupant or an investor seeking residential rental use.
The property is near downtown Richmond, major highways, restaurants, shopping, and local parks. Each unit provides an updated living environment while retaining the character of the home, creating a practical layout for either an owner-occupant or an investor seeking residential rental use.
Key Highlights
- 2,230‑square‑foot duplex with two residential units
- Updated interiors and refreshed finishes throughout both units
- Flexible setup for owner occupancy with rental use or leasing both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,424
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$588,480
$588.5K
Cap Rate 7%
$420,343
$420.3K
Cap Rate 9%
$326,933
$326.9K
Market Conditions
NOI Build-Up for 2,230 SF
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.
Gross rent
$45.0K $20.16/SF
− Vacancy
−$2.9K −$1.31/SF
EGI
$42.0K $18.85/SF
− OpEx
−$12.6K −$5.65/SF
NOI
$29.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$588,480
Cap Rate 7%
$420,343
Cap Rate 9%
$326,933
Alternative Uses
Best Use
Multifamily LT 5
$420.3K
$367.8K – $490.4K
NOI $29,424 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$394.7K
$345.3K – $460.4K
NOI $27,626 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$515.2K
$450.8K – $601.1K
NOI $36,064 @ 7.0% cap · market cap 10.61%
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
263
Businesses Nearby
Explore this area
Business Placement
Demographics for 23222, VA
24,337
Population
11,762
Households
2.1
Avg Household Size
37
Median Age
32%
College-Educated
90%
High-School Grad
8.2 sq mi
ZIP Area
2,968
Density / Sq Mi
$58,105
Median Household Income
$37,137
Median Earnings
$1,181
Median Rent
$252,000
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 - Two residential units support flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 2801 4th Ave Richmond, VA.
What is the asking price?
The asking price for this property is $339,999.
What are key features of this property?
This property features: 2,230‑square‑foot duplex with two residential units; Updated interiors and refreshed finishes throughout both units; Flexible setup for owner occupancy with rental use or leasing both units
