Occupied Duplex Income
3207 Scott Street Portsmouth, VA 23707
New
For Sale
$275,000
MULTI_FAMILY - Portsmouth, VA
Property Size1,650 SF
Price / SF$166.67
Days on Market4
Property Features for 3207 Scott Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
UR
Standard status
Active
Size
1,650 SF
Taxes and HOA fees
Tax Annual Amount
2934
Utilities
Water front features
Waterfront
Building Details
Year built
1941
Roof type
Shingle
Architectural style
Other
Listing Agency:
BHHS RW Towne Realty
(757) 436-3636
Listed By:
David Wilkey · License #232478
(757) 690-0439
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 30 at 4:06AM
MLS# 10646135
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.
Investment Insights
Based on property information with market context.
This for-sale duplex is currently fully occupied and provides gross rental income of more than $2,700 per month based on the seller’s current figures. The property has undergone several recent improvements, including a new roof in 2020, kitchen updates in 2021, HVAC replacement in 2023, renovated bathrooms and fresh interior paint in 2025, and electrical panel upgrades completed in 2016.
The property is located in Portsmouth, VA, with convenient access to shopping centers, restaurants, and everyday services. The remarks also note quick access to the interstate for commuting throughout the area.
As presented, the duplex offers an owner the benefit of established tenants in place, with ongoing income from the current occupancy at the time of sale.
The property is located in Portsmouth, VA, with convenient access to shopping centers, restaurants, and everyday services. The remarks also note quick access to the interstate for commuting throughout the area.
As presented, the duplex offers an owner the benefit of established tenants in place, with ongoing income from the current occupancy at the time of sale.
Key Highlights
- Fully occupied duplex with current gross rental income of more than $2,700 per month
- Numerous updates including new roof in 2020
- Kitchen updated in 2021
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.2k | $13.44 |
| − Vacancy | −$1.7k | −$1.03 |
| EGI | $20.5k | $12.41 |
| − OpEx | −$6.1k | −$3.72 |
| NOI | $14.3k | $8.68 |
1,650 SF · lease $13.44/SF/yr · vacancy 7.69% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$204.7K
$179.1K – $238.8K
NOI $14,329 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$188.7K
$165.1K – $220.2K
NOI $13,210 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$525.3K
$459.6K – $612.9K
NOI $36,771 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with recent roof, kitchen, HVAC, bathroom, paint, and electrical panel improvements.
Where is this duplex located?
The property is located at 3207 Scott Street Portsmouth, VA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Fully occupied duplex with current gross rental income of more than $2,700 per month; Numerous updates including new roof in 2020; Kitchen updated in 2021
