Two-Unit Duplex with Wraparound
3105 Semmes Avenue, Richmond, VA 23225
For Sale
$539,950
Two independent two-bedroom residences include private outdoor access and dedicated laundry space in each unit.
Property Size3,795 SF
Price / SF$142.28
Days on Market140
Property Features for 3105 Semmes Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
wraparound front porch
private balcony
off-street parking
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
ICON Realty Group, ERA Powered
(804) 775-2000
Listed By:
Sharon Evans
(804) 301-5538
Source:
Freedom1realty
Added: Jun 23
Changed: Nov 7
Last Checked: Nov 8 at 8:47PM
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 ICON Realty Group, ERA Powered
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Investment Insights
Based on property information with market context.
Built in 1922, this two-story duplex contains two independent residences, each with two bedrooms, a living room, dedicated laundry space and private deck access. The 3,795-square-foot property combines brick and stucco exterior elements with a wraparound porch and an upper-level balcony. Inside, period details include high ceilings and traditional millwork, alongside luxury vinyl plank flooring and white appliances. The upper unit also has a clawfoot tub.
Alley access leads to a gravel-paved rear parking area with off-street parking. A wooden privacy fence and mature canopy trees frame the rear grounds, which include shared backyard green space. The property is in Richmond’s Woodland Heights neighborhood, near Forest Hill Park and with access to major thoroughfares, Downtown Richmond and VCU.
Alley access leads to a gravel-paved rear parking area with off-street parking. A wooden privacy fence and mature canopy trees frame the rear grounds, which include shared backyard green space. The property is in Richmond’s Woodland Heights neighborhood, near Forest Hill Park and with access to major thoroughfares, Downtown Richmond and VCU.
Key Highlights
- Two independent two‑bedroom residences in a two‑story duplex
- Built in 1922; 3,795 square feet
- Wraparound porch, upper‑level balcony and private deck access for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,014
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,280
$940.3K
Cap Rate 7%
$671,629
$671.6K
Cap Rate 9%
$522,378
$522.4K
Market Conditions
NOI Build-Up for 3,795 SF
Gross rent
$90.2K $23.76/SF
− Vacancy
−$4.7K −$1.24/SF
EGI
$85.5K $22.52/SF
− OpEx
−$38.5K −$10.14/SF
NOI
$47.0K $12.39/SF
Area
Richmond, VA
Vacancy
5.20%
Lease Rate
$23.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,280
Cap Rate 7%
$671,629
Cap Rate 9%
$522,378
Alternative Uses
Best Use
Multifamily LT 5
$715.3K
$625.9K – $834.6K
NOI $50,074 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$671.6K
$587.7K – $783.6K
NOI $47,014 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$876.8K
$767.2K – $1.02M
NOI $61,374 @ 7.0% cap · market cap 11.37%
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
336
Businesses Nearby
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Business Placement
Demographics for 23225, VA
40,876
Population
21,545
Households
1.9
Avg Household Size
38
Median Age
41%
College-Educated
91%
High-School Grad
13.9 sq mi
ZIP Area
2,941
Density / Sq Mi
$60,865
Median Household Income
$43,550
Median Earnings
$1,311
Median Rent
$292,800
Median Home Value
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Market
Average Price Trend$/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 independent two-bedroom residences include private outdoor access and dedicated laundry space in each unit.
Where is this duplex located?
The property is located at 3105 Semmes Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $539,950.
What are key features of this property?
This property features: Two independent two‑bedroom residences in a two‑story duplex; Built in 1922; 3,795 square feet; Wraparound porch, upper‑level balcony and private deck access for each residence
