Duplex With New
For Sale
$107,500
420 Mt Vernon Ave, Portsmouth, VA 23707
Two-level duplex with separate living areas, rear exits, and a rehabilitation scope for interior and siding work.
Property Size500 SF
Price / SF$215
Days on Market47
Property Features for 420 Mt Vernon Ave
General Information
Standard status
Active
Size
500 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
Interior and Siding Full Rehab
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Listing Agency:
XRealty.NET LLC
Listed By:
Norman Domingo · License #BR98370916
(888) 838-9044
Source:
Horakrealtygroup
Added: Sep 4
Changed: Oct 6
Last Checked: Oct 7 at 1:10PM
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 XRealty.NET LLC
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.
This duplex, built in 1920, contains separate upstairs and downstairs living spaces with rear exits. Each unit offers 3–4 bedrooms and 2 full bathrooms. The property has a new roof, while the interior and siding require full rehabilitation. It is being offered in its existing as-is condition.
Located at 420 Mt Vernon Ave in Portsmouth, VA, the property is structured as a two-unit residential asset. Cash or hard-money offers are required, and the buyer is responsible for completing inspections and due diligence before submitting an offer.
Located at 420 Mt Vernon Ave in Portsmouth, VA, the property is structured as a two-unit residential asset. Cash or hard-money offers are required, and the buyer is responsible for completing inspections and due diligence before submitting an offer.
Key Highlights
- Two‑unit duplex with separate upstairs and downstairs living spaces
- Each unit includes 3–4 bedrooms and 2 full bathrooms
- New roof installed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,342
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$86,840
$86.8K
Cap Rate 7%
$62,029
$62.0K
Cap Rate 9%
$48,244
$48.2K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$6.7K $13.44/SF
− Vacancy
−$517 −$1.03/SF
EGI
$6.2K $12.41/SF
− OpEx
−$1.9K −$3.72/SF
NOI
$4.3K $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%
$86,840
Cap Rate 7%
$62,029
Cap Rate 9%
$48,244
Alternative Uses
Best Use
Multifamily LT 5
$62.0K
$54.3K – $72.4K
NOI $4,342 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$57.2K
$50.0K – $66.7K
NOI $4,003 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$159.2K
$139.3K – $185.7K
NOI $11,143 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
247
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 - Two-level duplex with separate living areas, rear exits, and a rehabilitation scope for interior and siding work.
Where is this duplex located?
The property is located at 420 Mt Vernon Ave Portsmouth, VA.
What is the asking price?
The asking price for this property is $107,500.
What are key features of this property?
This property features: Two‑unit duplex with separate upstairs and downstairs living spaces; Each unit includes 3–4 bedrooms and 2 full bathrooms; New roof installed
