416 Maryland Avenue, Portsmouth, VA 23707
- Added:
- Mar 27, 2026
- Days on Market:
- 83
- Last Refresh:
- Jun 17 at 2:06 am
Property Features for 416 Maryland Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 2,450 SF
Taxes and HOA fees
- Tax Annual Amount
- 2810
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1915
- Roof type
- Shingle, Slate
- Architectural style
- Other
Listing agent Marie Depedro Fernandez (757) 270-1623
Listing office World Class Realty & Prop Mgmt 5705 Lynnhaven Parkway #109, Virginia Beach, VA (757) 228-7773
Listing date Mar 27, 2026
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.
HighLights
- Waterfront property with 1915 construction
- Two‑unit home with a vacant 3‑bedroom, 2‑bath unit
- Both units were completely remodeled within the last 6 months
- Roof materials include shingle and slate
Overview
Located at 416 Maryland Avenue in Portsmouth, Virginia (23707), the property is described as approximately four blocks from the bay. It also notes ongoing new construction in the surrounding area, which may be relevant for buyers considering the local housing environment.
For tenants or buyers seeking flexibility, the combination of a currently vacant unit and a second unit already in place can support multiple living or rental scenarios. The recently remodeled condition can also be attractive to buyers and operators looking to reduce near-term turnover concerns, while the unit mix—one 3-bedroom, two-bath home plus an additional unit—can help broaden potential tenant fit. Please review all details and confirm current unit status and finishes during due diligence.
Local 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 | $32.9k | $13.44 |
| − Vacancy | −$2.5k | −$1.03 |
| EGI | $30.4k | $12.41 |
| − OpEx | −$9.1k | −$3.72 |
| NOI | $21.3k | $8.68 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Portsmouth
- State
- Virginia
- Longitude
- -76.334478
- Latitude
- 36.847798
