As-Is Duplex
For Sale
$256,000
Pending
4204 Mayflower Rd, Norfolk, VA 23508
Two-unit residential property near shopping, dining, Downtown Norfolk, ODU, military bases, and major roadways.
Property Size1,600 SF
Days on Market75
Property Features for 4204 Mayflower Rd
General Information
Standard status
Pending
Size
1,600 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1953
Listing Agency:
Better Homes & Gdns Ntv Am Grp
Listed By:
Brian Wurst
(757) 424-9007
Source:
Abwrealty
Added: Aug 2
Changed: Oct 13
Last Checked: Oct 14 at 11:18PM
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.
Built in 1953, this 1,600-square-foot duplex offers a two-unit residential configuration and is being sold as-is. The property may suit an investor seeking to add a rental asset or undertake renovation work.
The address is 4204 Mayflower Rd in Norfolk’s Colonial Place neighborhood, with shopping, dining, Downtown Norfolk, ODU, military bases, and major roadways identified nearby.
The address is 4204 Mayflower Rd in Norfolk’s Colonial Place neighborhood, with shopping, dining, Downtown Norfolk, ODU, military bases, and major roadways identified nearby.
Key Highlights
- Duplex with two residential units
- 1,600 square feet of property size
- Built in 1953
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,956
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$31.7K $19.80/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$29.9K $18.71/SF
− OpEx
−$9.0K −$5.61/SF
NOI
$21.0K $13.10/SF
Area
Norfolk, VA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$268.9K
$235.3K – $313.7K
NOI $18,820 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$339.4K
$297.0K – $396.0K
NOI $23,759 @ 7.0% cap · market cap 9.28%
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
949
Businesses Nearby
Explore this area
Business Placement
Demographics for 23508, VA
20,485
Population
7,112
Households
2.9
Avg Household Size
27
Median Age
56%
College-Educated
93%
High-School Grad
3.3 sq mi
ZIP Area
6,208
Density / Sq Mi
$74,524
Median Household Income
$24,975
Median Earnings
$1,381
Median Rent
$384,800
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 - Two-unit residential property near shopping, dining, Downtown Norfolk, ODU, military bases, and major roadways.
Where is this duplex located?
The property is located at 4204 Mayflower Rd Norfolk, VA.
What is the asking price?
The asking price for this property is $256,000.
What are key features of this property?
This property features: Duplex with two residential units; 1,600 square feet of property size; Built in 1953
