Renovated
New
For Sale
$474,900
4202 Chamberlayne Ave, Richmond, VA 23227
Separate electrical service, two heat pumps, and rear off-street parking are among the property's practical features.
Property Size3,116 SF
Price / SF$152.41
Days on Market2
Property Features for 4202 Chamberlayne Ave
General Information
Standard status
Active
Size
3,116 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1924
Listing Agency:
Beycome Brokerage Realty LLC
(804) 656-5007
Listed By:
The Elliott Real Estate Team
(804) 404-5566
Source:
Elliottreteam
Added: Sep 26
Last Checked: Sep 26 at 2:26PM
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 Beycome Brokerage Realty LLC
Investment Insights
Based on property information with market context.
This 3,116-square-foot duplex, built in 1924, has updated kitchens, bathrooms, flooring, and appliances. Separate electrical service and two heat pumps serve the property, while a large basement provides storage space.
The property is located at 4202 Chamberlayne Ave in Richmond, Virginia. Off-street parking is available at the rear.
The property is located at 4202 Chamberlayne Ave in Richmond, Virginia. Off-street parking is available at the rear.
Key Highlights
- 3,116‑square‑foot duplex built in 1924
- Updated kitchens, bathrooms, flooring, and appliances
- Separate electrical service and two heat pumps
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,115
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$822,300
$822.3K
Cap Rate 7%
$587,357
$587.4K
Cap Rate 9%
$456,833
$456.8K
Market Conditions
NOI Build-Up for 3,116 SF
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.
Gross rent
$62.8K $20.16/SF
− Vacancy
−$4.1K −$1.31/SF
EGI
$58.7K $18.85/SF
− OpEx
−$17.6K −$5.65/SF
NOI
$41.1K $13.19/SF
Area
Richmond, VA
Vacancy
6.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$822,300
Cap Rate 7%
$587,357
Cap Rate 9%
$456,833
Alternative Uses
Best Use
Multifamily LT 5
$587.4K
$513.9K – $685.3K
NOI $41,115 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$551.5K
$482.5K – $643.4K
NOI $38,602 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$719.9K
$629.9K – $839.9K
NOI $50,393 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 23227, VA
25,283
Population
13,351
Households
1.9
Avg Household Size
45
Median Age
47%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,199
Density / Sq Mi
$70,537
Median Household Income
$45,315
Median Earnings
$1,306
Median Rent
$329,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Separate electrical service, two heat pumps, and rear off-street parking are among the property's practical features.
Where is this duplex located?
The property is located at 4202 Chamberlayne Ave Richmond, VA.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: 3,116‑square‑foot duplex built in 1924; Updated kitchens, bathrooms, flooring, and appliances; Separate electrical service and two heat pumps
