Brick Duplex with
304 Hardy Avenue, Norfolk, VA 23523
For Sale
New
$268,900
Multi Family Residential, Side by Side, Norfolk, VA
Property Size1,596 SF
Price / SF$168.48
Days on Market5
Property Features for 304 Hardy Avenue
General Information
Property type
Property subtype
Zoning
Subdivision
Lot features
Elementary school
Middle school
Standard status
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Amenities
off-street parking
backyard space
Building Details
Year built
Roof type
Architectural style
Buildings
Listing Agency:
Shaffer Realty LLC
Listed By:
Greg Covington
(757) 468-5000
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 13 at 11:06PM
MLS# 10661176
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.
This 1,596-square-foot brick duplex, built in 1986, contains two one-story residences. Each has two bedrooms, one bathroom, a living room, pantry, and eat-in kitchen. The property has off-street parking and backyard space; its roof is shingle. Both units are occupied. Zoning is R-8.
Key Highlights
- Two‑unit brick duplex with 1,596 square feet
- Each residence has two bedrooms and one bathroom
- One‑story layouts include a living room, pantry, and eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,904
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,080
$418.1K
Cap Rate 7%
$298,629
$298.6K
Cap Rate 9%
$232,267
$232.3K
Market Conditions
NOI Build-Up for 1,596 SF
Gross rent
$31.6K $19.80/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$29.9K $18.71/SF
− OpEx
−$9.0K −$5.61/SF
NOI
$20.9K $13.10/SF
Area
Norfolk, VA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,080
Cap Rate 7%
$298,629
Cap Rate 9%
$232,267
Alternative Uses
Best Use
Multifamily LT 5
$298.6K
$261.3K – $348.4K
NOI $20,904 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$268.2K
$234.7K – $312.9K
NOI $18,773 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$338.6K
$296.3K – $395.0K
NOI $23,700 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 23523, VA
7,061
Population
3,472
Households
2
Avg Household Size
33
Median Age
13%
College-Educated
82%
High-School Grad
2.1 sq mi
ZIP Area
3,362
Density / Sq Mi
$37,189
Median Household Income
$35,456
Median Earnings
$986
Median Rent
$222,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Norfolk, VA
Properties on Market for Duplexes in Norfolk
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and include two bedrooms and one bathroom.
Where is this duplex located?
The property is located at 304 Hardy Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $268,900.
What are key features of this property?
This property features: Two‑unit brick duplex with 1,596 square feet; Each residence has two bedrooms and one bathroom; One‑story layouts include a living room, pantry, and eat‑in kitchen
