Renovated Duplex with
3016 Fendall Avenue, Richmond, VA 23222
For Sale
New
$475,000
ResidentialIncome, Richmond, VA
Property Size1,976 SF
Lot Size0.16 Acres
Price / SF$240.38
Days on Market3
Property Features for 3016 Fendall Avenue
General Information
Property type
Property subtype
Zoning description
Rooms
Parking features
Patio and Porch features
Interior features
Exterior features
Fencing
Appliances
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Water source
Amenities
large front porch
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Architectural style
Additional Structures
Buildings
Listing Agency:
United Real Estate Richmond
(804) 359-9200
Listed By:
Angela Williams-Friend · License VA #0225073180
(804) 356-5737
Added: Nov 12
Last Checked: Nov 14 at 12:06AM
MLS# 2629232
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.
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Investment Insights
Based on property information with market context.
This renovated duplex dates to 1922 and has a two-story layout with hardwood floors throughout. A basement, front porch, and shed provide additional features, while the lot is fenced. Construction materials include stone and stucco, and the roof is shingle.
The property occupies a 6,750-square-foot lot in Richmond, Virginia. Public water and sewer serve the site, and parking is on the street.
The property occupies a 6,750-square-foot lot in Richmond, Virginia. Public water and sewer serve the site, and parking is on the street.
Key Highlights
- 6,750‑square‑foot lot
- Renovated two‑story duplex built in 1922
- Hardwood floors throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,073
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,460
$521.5K
Cap Rate 7%
$372,471
$372.5K
Cap Rate 9%
$289,700
$289.7K
Market Conditions
NOI Build-Up for 1,976 SF
Gross rent
$39.8K $20.16/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$37.2K $18.85/SF
− OpEx
−$11.2K −$5.65/SF
NOI
$26.1K $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 Rate 5%
$521,460
Cap Rate 7%
$372,471
Cap Rate 9%
$289,700
Alternative Uses
Best Use
Multifamily LT 5
$372.5K
$325.9K – $434.6K
NOI $26,073 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$349.7K
$306.0K – $408.0K
NOI $24,480 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$456.5K
$399.5K – $532.6K
NOI $31,957 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
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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
$252,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Richmond, VA
Properties on Market for Duplexes in Richmond
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-story residence with hardwood floors, a basement, and a fenced yard.
Where is this duplex located?
The property is located at 3016 Fendall Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 6,750‑square‑foot lot; Renovated two‑story duplex built in 1922; Hardwood floors throughout
