Duplex with Laundry
For Sale
$275,000
370 Carver Cir, Portsmouth, VA 23701
The property includes a yard, interior laundry connections, and proximity to shopping centers, military bases, and interstate access.
Property Size2,070 SF
Price / SF$132.85
Days on Market10
Property Features for 370 Carver Cir
General Information
Standard status
Active
Size
2,070 SF
Property subtype
Multi Family Home
Zoning
URH
Additional Details
Highway Access
Yes
Multifamily Units
1
Tenant in Place
Yes
Building Details
Building Size
2,070 SF
Year Built
1942
Listing Agency:
The Real Estate Group
(757) 961-9090
Listed By:
Ryan Harrell
(757) 621-7496
Source:
Jamesallengroup
Added: Oct 16
Changed: Oct 24
Last Checked: Oct 24 at 3:02PM
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 The Real Estate Group
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Investment Insights
Based on property information with market context.
This duplex property offers 2,070 square feet and was built in 1942. Interior features include flooring, multiple windows, and washer and dryer hookups. The property also has a yard. Its zoning designation is URH.
The location is near shipyards, military bases, interstate access, and several shopping centers. The property is occupied, and additional notice is required before a showing.
The location is near shipyards, military bases, interstate access, and several shopping centers. The property is occupied, and additional notice is required before a showing.
Key Highlights
- 2,070 square feet; built in 1942
- Zoned URH
- Washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,977
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,540
$359.5K
Cap Rate 7%
$256,814
$256.8K
Cap Rate 9%
$199,744
$199.7K
Market Conditions
NOI Build-Up for 2,070 SF
Gross rent
$27.8K $13.44/SF
− Vacancy
−$2.1K −$1.03/SF
EGI
$25.7K $12.41/SF
− OpEx
−$7.7K −$3.72/SF
NOI
$18.0K $8.68/SF
Area
Portsmouth County, VA
Vacancy
7.69%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,540
Cap Rate 7%
$256,814
Cap Rate 9%
$199,744
Alternative Uses
Best Use
Multifamily LT 5
$256.8K
$224.7K – $299.6K
NOI $17,977 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$236.8K
$207.2K – $276.2K
NOI $16,573 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$659.0K
$576.6K – $768.9K
NOI $46,131 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 23701, VA
24,629
Population
10,318
Households
2.4
Avg Household Size
41
Median Age
23%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,199
Density / Sq Mi
$63,389
Median Household Income
$44,633
Median Earnings
$1,313
Median Rent
$218,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The property includes a yard, interior laundry connections, and proximity to shopping centers, military bases, and interstate access.
Where is this duplex located?
The property is located at 370 Carver Cir 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: 2,070 square feet; built in 1942; Zoned URH; Washer and dryer hookups
