Updated Tenant-Occupied
New
For Sale
$315,000
4300 Tides Ct, Norfolk, VA 23518
Two separately metered residential units with recent roof, water-heater, and HVAC improvements.
Property Size1,652 SF
Price / SF$190.68
Days on Market7
Property Features for 4300 Tides Ct
General Information
Standard status
Active
Size
1,652 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
washer/dryer
washer/dryer hookups
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Virginia 1st Realty Group LLC
Listed By:
Crush Real State Group
(757) 690-2300
Source:
Wesellhamptonroadsva
Added: Sep 20
Changed: Sep 24
Last Checked: Sep 26 at 6:53AM
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 Virginia 1st Realty Group LLC
Investment Insights
Based on property information with market context.
This tenant-occupied duplex, built in 1978, contains two residential units totaling 1,652 square feet. Each unit offers 2 bedrooms and 1 bathroom, creating a 4-bedroom, 2-bathroom configuration overall. Electric and water are separately metered by unit. Both units have new water heaters, while Unit B also includes a new HVAC system. The property received a new roof in 2022.
Laundry provisions differ between the units: Unit A includes a washer and dryer, and Unit B has washer and dryer hookups. The property is located in the East Beach Oceanview neighborhood of Norfolk, near highways, military bases, and shopping. Showings are available by appointment on Wednesdays and Saturdays from 1:00–3:00 PM.
Laundry provisions differ between the units: Unit A includes a washer and dryer, and Unit B has washer and dryer hookups. The property is located in the East Beach Oceanview neighborhood of Norfolk, near highways, military bases, and shopping. Showings are available by appointment on Wednesdays and Saturdays from 1:00–3:00 PM.
Key Highlights
- Duplex totals 1,652 square feet with 4 bedrooms and 2 bathrooms
- Each unit is configured with 2 bedrooms and 1 bathroom
- Separate electric and water meters serve the two units
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
$21,637
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
6.87%
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%
$432,740
$432.7K
Cap Rate 7%
$309,100
$309.1K
Cap Rate 9%
$240,411
$240.4K
Market Conditions
NOI Build-Up for 1,652 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
$32.7K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.9K $18.71/SF
− OpEx
−$9.3K −$5.61/SF
NOI
$21.6K $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 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%
$432,740
Cap Rate 7%
$309,100
Cap Rate 9%
$240,411
Alternative Uses
Best Use
Multifamily LT 5
$309.1K
$270.5K – $360.6K
NOI $21,637 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$277.6K
$242.9K – $323.9K
NOI $19,432 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$350.4K
$306.6K – $408.9K
NOI $24,531 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 23518, VA
30,278
Population
13,911
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
6.1 sq mi
ZIP Area
4,964
Density / Sq Mi
$73,899
Median Household Income
$47,605
Median Earnings
$1,348
Median Rent
$280,200
Median Home Value
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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 separately metered residential units with recent roof, water-heater, and HVAC improvements.
Where is this duplex located?
The property is located at 4300 Tides Ct Norfolk, VA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Duplex totals 1,652 square feet with 4 bedrooms and 2 bathrooms; Each unit is configured with 2 bedrooms and 1 bathroom; Separate electric and water meters serve the two units
