Updated Side-by-Side
New
For Sale
$395,000
313 Scott Lane, Virginia Beach, VA 23451
Multi Family Residential, Side by Side, Virginia Beach, VA
Property Size1,600 SF
Lot Size0.17 Acres
Price / SF$246.88
Days on Market4
Property Features for 313 Scott Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R5D
Subdivision
OCEANA
Lot features
Wooded
Elementary school
Birdneck Elementary
Middle school
Lynnhaven Middle
Standard status
Active
Size
1,600 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
3377
Building Details
Year built
1978
Roof type
Shingle
Architectural style
Other
Listing Agency:
Atkinson Realty
(757) 321-1000
Listed By:
Joanne Friedenson · License #54116
(757) 425-2500
Added: Oct 13
Changed: Oct 16
Last Checked: Oct 16 at 4:06PM
MLS# 10657436
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 side-by-side duplex contains two residences with a combined 1,600 square feet. Each unit has two bedrooms and one bathroom. Interior work includes new LVP flooring, refreshed paint, updated lighting, and improvements to kitchen counters, sinks, and garbage disposals. One unit also has a new dishwasher. The white brick exterior has been repainted, the HVAC systems are newer, and the roof was replaced in 2023.
The property occupies a 50' x 150' lot. Shopping centers and grocery stores are nearby, and the oceanfront is a few miles away. The listing also notes access to the expressway and proximity to Oceana Naval Air Station.
Built in 1978, the duplex is zoned R5D. Unit 313 has quartz countertops, while Unit 311 has granite countertops.
The property occupies a 50' x 150' lot. Shopping centers and grocery stores are nearby, and the oceanfront is a few miles away. The listing also notes access to the expressway and proximity to Oceana Naval Air Station.
Built in 1978, the duplex is zoned R5D. Unit 313 has quartz countertops, while Unit 311 has granite countertops.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath in each residence
- 1,600 square feet on a 50' x 150' lot
- Roof replaced in 2023; newer HVAC systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,956
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$31.7K $19.80/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$29.9K $18.71/SF
− OpEx
−$9.0K −$5.61/SF
NOI
$21.0K $13.10/SF
Area
Virginia Beach, 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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$277.4K
$242.8K – $323.7K
NOI $19,421 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$410.4K
$359.1K – $478.9K
NOI $28,731 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 23451, VA
44,879
Population
24,897
Households
1.8
Avg Household Size
41
Median Age
57%
College-Educated
97%
High-School Grad
19.8 sq mi
ZIP Area
2,267
Density / Sq Mi
$97,945
Median Household Income
$57,472
Median Earnings
$1,697
Median Rent
$591,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms and one bath, with R5D zoning and updated kitchens.
Where is this duplex located?
The property is located at 313 Scott Lane Virginia Beach, VA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath in each residence; 1,600 square feet on a 50' x 150' lot; Roof replaced in 2023; newer HVAC systems
