Two-Unit Duplex with Private
For Sale
$795,000
312 N Shields Ave, Richmond, VA 23220
Two occupied residences offer separate outdoor areas and off-street parking in Richmond’s Fan District.
Property Size2,772 SF
Price / SF$286.80
Days on Market24
Property Features for 312 N Shields Ave
General Information
Standard status
Active
Size
2,772 SF
Total Parking Spaces
2
Property subtype
Residential Income
Occupancy
100%
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,820
Amenities
rear deck
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Two Dog Realty
Listed By:
Curt Reichstetter
(804) 370-1210
Source:
Exprealty
Added: Sep 22
Changed: Oct 10
Last Checked: Oct 14 at 11:23PM
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 Two Dog Realty
Investment Insights
Based on property information with market context.
This two-unit residential property has a two-bedroom, one-bath residence on the ground floor and a two-bedroom, one-and-a-half-bath residence above. Both units are occupied and include individual rear decks. Two off-street parking spaces serve the property. Improvements include a roof installed in 2021 and HVAC replacement for Unit 1 in 2026; work receipts and other documentation are available.
The property is on N. Shields Avenue in Richmond’s Fan District, near restaurants, an elementary school, public transportation, and neighborhood shops and dining. Its two distinct residences, private outdoor areas, and parking are practical features of the existing configuration.
The property is on N. Shields Avenue in Richmond’s Fan District, near restaurants, an elementary school, public transportation, and neighborhood shops and dining. Its two distinct residences, private outdoor areas, and parking are practical features of the existing configuration.
Key Highlights
- Two occupied units, each with two bedrooms
- Ground‑floor unit has one full bath; upper unit has one full bath and one half‑bath
- Two off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,576
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,520
$731.5K
Cap Rate 7%
$522,514
$522.5K
Cap Rate 9%
$406,400
$406.4K
Market Conditions
NOI Build-Up for 2,772 SF
Gross rent
$55.9K $20.16/SF
− Vacancy
−$3.6K −$1.31/SF
EGI
$52.3K $18.85/SF
− OpEx
−$15.7K −$5.65/SF
NOI
$36.6K $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%
$731,520
Cap Rate 7%
$522,514
Cap Rate 9%
$406,400
Alternative Uses
Best Use
Multifamily LT 5
$522.5K
$457.2K – $609.6K
NOI $36,576 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$490.6K
$429.3K – $572.4K
NOI $34,341 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$640.4K
$560.4K – $747.2K
NOI $44,830 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,985
Businesses Nearby
Explore this area
Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences offer separate outdoor areas and off-street parking in Richmond’s Fan District.
Where is this duplex located?
The property is located at 312 N Shields Ave Richmond, VA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two occupied units, each with two bedrooms; Ground‑floor unit has one full bath; upper unit has one full bath and one half‑bath; Two off‑street parking spaces
