Duplex with Recent
New
For Sale
$425,000
416 Maryland Ave, Portsmouth, VA 23707
One residence is vacant, while the second is occupied by a tenant.
Property Size2,450 SF
Price / SF$173.47
Days on Market3
Property Features for 416 Maryland Ave
General Information
Standard status
Active
Size
2,450 SF
Property subtype
Multi Family Home
Additional Details
Tenant in Place
Yes
Building Details
Building Size
2,450 SF
Year Built
1915
Listing Agency:
World Class Realty & Prop Mgmt
(757) 228-7773
Listed By:
Marie Depedro Fernandez
(757) 270-1623
Source:
Jamesallengroup
Added: Oct 29
Last Checked: Oct 29 at 2:35PM
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 World Class Realty & Prop Mgmt
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1915, this 2,450-square-foot duplex has two residences. The vacant side offers three bedrooms and two full bathrooms, and the other side is tenant-occupied. Both residences received complete renovations within the past six months.
The property is four blocks from the bay, with new construction underway in the surrounding area.
The property is four blocks from the bay, with new construction underway in the surrounding area.
Key Highlights
- 2,450‑square‑foot duplex built in 1915
- Two residences, each renovated within the last six months
- Vacant unit includes 3 bedrooms and 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,277
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,540
$425.5K
Cap Rate 7%
$303,957
$304.0K
Cap Rate 9%
$236,411
$236.4K
Market Conditions
NOI Build-Up for 2,450 SF
Gross rent
$32.9K $13.44/SF
− Vacancy
−$2.5K −$1.03/SF
EGI
$30.4K $12.41/SF
− OpEx
−$9.1K −$3.72/SF
NOI
$21.3K $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%
$425,540
Cap Rate 7%
$303,957
Cap Rate 9%
$236,411
Alternative Uses
Best Use
Multifamily LT 5
$304.0K
$266.0K – $354.6K
NOI $21,277 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$280.2K
$245.2K – $326.9K
NOI $19,616 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$780.0K
$682.5K – $910.0K
NOI $54,599 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 23707, VA
14,316
Population
7,216
Households
2
Avg Household Size
36
Median Age
26%
College-Educated
87%
High-School Grad
3.9 sq mi
ZIP Area
3,671
Density / Sq Mi
$51,070
Median Household Income
$37,932
Median Earnings
$1,076
Median Rent
$222,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant, while the second is occupied by a tenant.
Where is this duplex located?
The property is located at 416 Maryland Ave Portsmouth, VA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,450‑square‑foot duplex built in 1915; Two residences, each renovated within the last six months; Vacant unit includes 3 bedrooms and 2 full bathrooms
