Renovated Two-Unit
New
For Sale
$349,900
3904 Marsha St, Portsmouth, VA 23703
Two residences have distinct bedroom and bathroom layouts, with one unit ready for immediate occupancy.
Property Size3,335 SF
Price / SF$104.92
Days on Market4
Property Features for 3904 Marsha St
General Information
Standard status
Active
Size
3,335 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/2BA
Multifamily Units
2
Amenities
gas heat
central air conditioning
fenced yard
deck
shed
new dishwasher
refrigerators
electric stoves
HVACs
washer and dryer
Building Details
Year Built
1957
Listing Agency:
Better Homes & Gdns Ntv Am Grp
Listed By:
Brian Wurst
(757) 424-9007
Source:
Abwrealty
Added: Oct 11
Changed: Oct 13
Last Checked: Oct 12 at 8:21PM
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 Better Homes & Gdns Ntv Am Grp
Investment Insights
Based on property information with market context.
This renovated duplex contains two residences with different bedroom and bathroom configurations. Unit A has three bedrooms and one and a half bathrooms and is available for immediate occupancy; Unit B has two bedrooms and two full bathrooms and is occupied. The property was built in 1957 and includes gas heat and central air conditioning.
Outdoor features include a fully fenced yard, deck, and shed. The property is directly adjacent to the Western Branch Trail. Yard maintenance is provided by the owner. A new dishwasher is included, while the refrigerators, electric stoves, HVAC systems, and the washer and dryer in Unit B convey as-is.
Outdoor features include a fully fenced yard, deck, and shed. The property is directly adjacent to the Western Branch Trail. Yard maintenance is provided by the owner. A new dishwasher is included, while the refrigerators, electric stoves, HVAC systems, and the washer and dryer in Unit B convey as-is.
Key Highlights
- Renovated duplex with two distinct residential layouts
- Unit A: 3 bedrooms and 1.5 bathrooms; available for immediate occupancy
- Unit B: 2 bedrooms and 2 full bathrooms; currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,963
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,260
$579.3K
Cap Rate 7%
$413,757
$413.8K
Cap Rate 9%
$321,811
$321.8K
Market Conditions
NOI Build-Up for 3,335 SF
Gross rent
$44.8K $13.44/SF
− Vacancy
−$3.4K −$1.03/SF
EGI
$41.4K $12.41/SF
− OpEx
−$12.4K −$3.72/SF
NOI
$29.0K $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%
$579,260
Cap Rate 7%
$413,757
Cap Rate 9%
$321,811
Alternative Uses
Best Use
Multifamily LT 5
$413.8K
$362.0K – $482.7K
NOI $28,963 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$381.4K
$333.8K – $445.0K
NOI $26,701 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.06M
$929.0K – $1.24M
NOI $74,322 @ 7.0% cap · market cap 21.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 23703, VA
26,388
Population
10,856
Households
2.4
Avg Household Size
38
Median Age
29%
College-Educated
91%
High-School Grad
13.9 sq mi
ZIP Area
1,898
Density / Sq Mi
$75,804
Median Household Income
$46,288
Median Earnings
$1,377
Median Rent
$273,700
Median Home Value
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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 residences have distinct bedroom and bathroom layouts, with one unit ready for immediate occupancy.
Where is this duplex located?
The property is located at 3904 Marsha St Portsmouth, VA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Renovated duplex with two distinct residential layouts; Unit A: 3 bedrooms and 1.5 bathrooms; available for immediate occupancy; Unit B: 2 bedrooms and 2 full bathrooms; currently occupied
