Two-Unit Duplex with Fenced
For Sale
$294,900
Pending
3243 Woodrow Ave, Richmond, VA 23222
Two-unit residential property with separate living areas, basements, and a spacious enclosed rear yard.
Property Size2,185 SF
Days on Market49
Property Features for 3243 Woodrow Ave
General Information
Standard status
Pending
Size
2,185 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
do a little renovation
Site & Location
Neighborhood
Prpk
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1938
Buildings
1
Listing Agency:
Clear Choice Realty, LLC
(804) 437-0705
Listed By:
The Elliott Real Estate Team
(804) 404-5566
Source:
Elliottreteam
Added: Sep 5
Changed: Oct 21
Last Checked: Oct 23 at 6:31AM
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 Clear Choice Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1938, this duplex contains 2,185 square feet arranged as two residential units. Each unit includes 2 bedrooms, 1 full bath, a kitchen, living room, dining room, and basement, providing a defined layout for residential occupancy. The property also includes a large fenced yard behind the building.
Located at 3243 Woodrow Ave in Richmond, VA 23222, the property is offered strictly as-is/where-is. Its two-unit configuration, individual living spaces, and outdoor area provide a straightforward residential asset profile.
Located at 3243 Woodrow Ave in Richmond, VA 23222, the property is offered strictly as-is/where-is. Its two-unit configuration, individual living spaces, and outdoor area provide a straightforward residential asset profile.
Key Highlights
- Two‑unit duplex with 2,185 square feet
- Each unit includes 2 bedrooms and 1 full bath
- Separate kitchens, living rooms, and dining rooms in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,069
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,380
$541.4K
Cap Rate 7%
$386,700
$386.7K
Cap Rate 9%
$300,767
$300.8K
Market Conditions
NOI Build-Up for 2,185 SF
Gross rent
$51.9K $23.76/SF
− Vacancy
−$2.7K −$1.24/SF
EGI
$49.2K $22.52/SF
− OpEx
−$22.1K −$10.14/SF
NOI
$27.1K $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%
$541,380
Cap Rate 7%
$386,700
Cap Rate 9%
$300,767
Alternative Uses
Best Use
Multifamily LT 5
$411.9K
$360.4K – $480.5K
NOI $28,830 @ 7.0% cap · market cap 9.78%
Second Best
Apartment 5plus
$386.7K
$338.4K – $451.2K
NOI $27,069 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$504.8K
$441.7K – $589.0K
NOI $35,337 @ 7.0% cap · market cap 11.98%
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
380
Businesses Nearby
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Business Placement
Demographics for 23222, VA
24,337
Population
11,762
Households
2.1
Avg Household Size
37
Median Age
32%
College-Educated
90%
High-School Grad
8.2 sq mi
ZIP Area
2,968
Density / Sq Mi
$58,105
Median Household Income
$37,137
Median Earnings
$1,181
Median Rent
$252,000
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 - Two-unit residential property with separate living areas, basements, and a spacious enclosed rear yard.
Where is this duplex located?
The property is located at 3243 Woodrow Ave Richmond, VA.
What is the asking price?
The asking price for this property is $294,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,185 square feet; Each unit includes 2 bedrooms and 1 full bath; Separate kitchens, living rooms, and dining rooms in both units
