Building Details

Year Built 1937

Buildings 1

Listing Agency: Joyner Fine Properties

Listed By: Treva Thomas · License #0225217556 Show Phone

Source: Riverfoxrealty

Added: May 29 Changed: Oct 3 Last Checked: Oct 6 at 12:13AM

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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 Joyner Fine Properties

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Investment Insights

Based on property information with market context.

This 2,550-square-foot duplex contains two residential units, each arranged with a living room, dining room, kitchen, three bedrooms, and one full bathroom. Separate front and rear entrances serve both units. The bottom-floor residence is vacant and includes a remodeled bathroom, new drywall, and new paint, while remaining work allows for further customization. The upper unit is occupied under a month-to-month arrangement.

The property is located at 3 N Daisy Avenue in VA 23075, within 10 minutes of Richmond City and on the bus line. Parking is also identified as part of the property’s appeal. Built in 1937, the two-unit configuration provides flexibility for an owner-occupant or an investor seeking a residential income property.

Key Highlights

• 2,550‑square‑foot duplex with two residential units
• Each unit includes 3 bedrooms and 1 full bathroom
• Separate front and rear entrances for both units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,244

Cap Rate

8.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$624,880 $624.9K

Cap Rate 7%

$446,343 $446.3K

Cap Rate 9%

$347,156 $347.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,550 SF

Gross rent

$49.3K $19.32/SF

− Vacancy

−$4.6K −$1.82/SF

EGI

$44.6K $17.50/SF

− OpEx

−$13.4K −$5.25/SF

NOI

$31.2K $12.25/SF

Area

Henrico County, VA

Vacancy

9.40%

Lease Rate

$19.32 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$624,880

Cap Rate 7%

$446,343

Cap Rate 9%

$347,156

Alternative Uses

Best Use

Multifamily LT 5

$446.3K

$390.6K – $520.7K (±1% cap)

NOI $31,244 @ 7.0% cap · market cap 8.12%

Second Best

Apartment 5plus

$387.8K

$339.3K – $452.4K (±1% cap)

NOI $27,143 @ 7.0% cap · market cap 7.05%

Theoretical Best

Specialty Retail

$665.2K

$582.1K – $776.1K (±1% cap)

NOI $46,564 @ 7.0% cap · market cap 12.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Skin Care Clinic Gym & Fitness Center Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

256

Businesses Nearby

Explore this area Business Placement

Demographics for 23075, VA

10,236

Population

3,796

Households

2.7

Avg Household Size

38

Median Age

22%

College-Educated

89%

High-School Grad

4.6 sq mi

ZIP Area

2,225

Density / Sq Mi

$50,947

Median Household Income

$34,407

Median Earnings

$1,252

Median Rent

$198,900

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two residential units offer separate entrances, flexible occupancy, and a lower-level suite with recent bathroom and interior updates.

Where is this duplex located?

The property is located at 3 N Daisy Ave Highland Springs, VA.

What is the asking price?

The asking price for this property is $385,000.

What are key features of this property?

This property features: 2,550‑square‑foot duplex with two residential units; Each unit includes 3 bedrooms and 1 full bathroom; Separate front and rear entrances for both units