Turnkey Renovated Duplex
2915 Hull Street Richmond, VA 23224
New
For Sale
$349,950
MULTI_FAMILY - Other - Richmond, VA
Property Size2,181 SF
Lot Size0.16 Acres
Price / SF$160.45
Days on Market2
Property Features for 2915 Hull Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Parking features
- On Street, Off Street
- Standard status
- Active
- APN
- S000-1343-016
- Size
- 2,181 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- BURFOOTS ADD L10 B2 0056.50X0120.00 0000.000
- Tax Annual Amount
- 2748
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1929
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- VinylSiding, WoodSiding
- Roof type
- Metal, Shingle, Flat
- Architectural style
- Other
Listing Agency:
EXP Realty, LLC
(804) 729-5188
Listed By:
Chrissy Wengloski · License #0225248171
(860) 208-0132
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 24 at 9:06PM
MLS# 2620096
Copyright © 2026 Central Virginia Regional Multiple Listing Service. 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.
Turnkey, fully renovated duplex offering two leased units. Both units feature updated kitchens and bathrooms, along with numerous plumbing and electrical improvements. Additional major upgrades include a newer roof and heat pumps, designed to support low-maintenance ownership.
The property sits on a double-wide 0.16-acre lot and is zoned B-3, providing flexibility for future building or expansion subject to city approval. Photos reflect the condition after renovation, prior to tenant move-in.
Unit 1 is rented for $1,300 (including water fee) through May 31, 2027, and Unit 2 is rented for $1,350 (including water fee) through March 31, 2027.
The property sits on a double-wide 0.16-acre lot and is zoned B-3, providing flexibility for future building or expansion subject to city approval. Photos reflect the condition after renovation, prior to tenant move-in.
Unit 1 is rented for $1,300 (including water fee) through May 31, 2027, and Unit 2 is rented for $1,350 (including water fee) through March 31, 2027.
Key Highlights
- Fully renovated 1929 duplex with both units leased for income
- Unit 1 rented for $1,300 (includes water fee) through May 31, 2027
- Unit 2 rented for $1,350 (includes water fee) through March 31, 2027
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 | $44.0k | $20.16 |
| − Vacancy | −$2.9k | −$1.31 |
| EGI | $41.1k | $18.85 |
| − OpEx | −$12.3k | −$5.65 |
| NOI | $28.8k | $13.19 |
2,181 SF · lease $20.16/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$411.1K
$359.7K – $479.6K
NOI $28,778 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$386.0K
$337.7K – $450.3K
NOI $27,019 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$503.9K
$440.9K – $587.9K
NOI $35,272 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Fully renovated, leased duplex with updated kitchens and baths plus major plumbing, electrical, roof, and heat pump improvements.
Where is this duplex located?
The property is located at 2915 Hull Street Richmond, VA.
What is the asking price?
The asking price for this property is $349,950.
What are key features of this property?
This property features: Fully renovated 1929 duplex with both units leased for income; Unit 1 rented for $1,300 (includes water fee) through May 31, 2027; Unit 2 rented for $1,350 (includes water fee) through March 31, 2027
