Side-by-Side
4204 Mayflower Road, Norfolk, VA 23508
For Sale
$256,000
Multi Family Residential, Side by Side, Norfolk, VA
Property Size1,600 SF
Price / SF$160
Days on Market8
Property Features for 4204 Mayflower Road
General Information
Property type
Property subtype
Zoning
Subdivision
Elementary school
Middle school
Standard status
Size
Taxes and HOA fees
Tax Annual Amount
Utilities
Water front features
Water front
Building Details
Year built
Roof type
Architectural style
Listing Agency:
Iron Valley Real Est Norfolk
Listed By:
Carrie Copenhaver
(757) 900-4873
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 10 at 1:06AM
MLS# 10660460
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.
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Investment Insights
Based on property information with market context.
This side-by-side duplex contains 1,600 square feet and was built in 1953. Its shingle roof and R-8 zoning are additional documented features. The property is offered in as-is condition.
The Norfolk property is identified as creek-front, providing a natural water feature on site.
The Norfolk property is identified as creek-front, providing a natural water feature on site.
Key Highlights
- Side‑by‑side duplex configuration
- 1,600 square feet of building area
- 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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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
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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
$384,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Norfolk, VA
Properties on Market for Duplexes in Norfolk
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The property is zoned R-8 and sits along a creek in Norfolk.
Where is this duplex located?
The property is located at 4204 Mayflower Road 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: Side‑by‑side duplex configuration; 1,600 square feet of building area; Built in 1953
