Duplex with Updated Building
For Sale
$699,999
4407 Victoria Boulevard, Hampton, VA 23669
Two matching residences offer first-floor primary suites, private patios, driveways, sheds, and spacious backyard areas.
Property Size4,000 SF
Price / SF$174
Days on Market51
Property Features for 4407 Victoria Boulevard
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 4BR/2FB/2HB
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1964
Listing Agency:
Dragas Companies Realty Inc
(757) 424-9007
Listed By:
Brian Wurst
(757) 424-9007
Source:
Abwrealty
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 28 at 8:56PM
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 Dragas Companies Realty Inc
Investment Insights
Based on property information with market context.
Built in 1964, this 4,000-square-foot duplex contains two substantially similar residences, each offering 2,000 square feet with 4 bedrooms, 2 full baths, and 2 half baths. Both layouts include a naturally bright living room with a gas fireplace, formal dining area, patio access, and a kitchen equipped with recently updated appliances. A primary suite with an ensuite bath and walk-in closet is located on the first floor in each unit. The second floor features hardwood flooring, three additional bedrooms, a half-bath, and a shared jack-and-jill full bath. The B unit also provides a handicap-accessible first floor, including its primary suite and ensuite.
Each residence has an individual patio, driveway, and shed, with the property situated on a double lot in Hampton’s Little England neighborhood. Restaurants, entertainment, Interstates, and the Hampton Yacht Club are nearby. The roof, windows, appliances, HVAC systems, and hot water heaters have all been recently updated.
Each residence has an individual patio, driveway, and shed, with the property situated on a double lot in Hampton’s Little England neighborhood. Restaurants, entertainment, Interstates, and the Hampton Yacht Club are nearby. The roof, windows, appliances, HVAC systems, and hot water heaters have all been recently updated.
Key Highlights
- Two‑unit duplex totaling 4,000 square feet, with 2,000 square feet per residence
- Each unit includes 4 bedrooms, 2 full baths, and 2 half baths
- First‑floor primary suite with ensuite and walk‑in closet in both residences
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
$46,187
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
6.60%
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%
$923,740
$923.7K
Cap Rate 7%
$659,814
$659.8K
Cap Rate 9%
$513,189
$513.2K
Market Conditions
NOI Build-Up for 4,000 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
$69.6K $17.40/SF
− Vacancy
−$3.6K −$0.90/SF
EGI
$66.0K $16.50/SF
− OpEx
−$19.8K −$4.95/SF
NOI
$46.2K $11.55/SF
Area
Hampton, VA
Vacancy
5.20%
Lease Rate
$17.40 /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%
$923,740
Cap Rate 7%
$659,814
Cap Rate 9%
$513,189
Alternative Uses
Best Use
Multifamily LT 5
$659.8K
$577.3K – $769.8K
NOI $46,187 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$609.1K
$533.0K – $710.6K
NOI $42,636 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$1.04M
$910.2K – $1.21M
NOI $72,816 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Explore this area
Business Placement
Demographics for 23669, VA
41,030
Population
17,589
Households
2.3
Avg Household Size
38
Median Age
31%
College-Educated
94%
High-School Grad
12.1 sq mi
ZIP Area
3,391
Density / Sq Mi
$66,999
Median Household Income
$41,874
Median Earnings
$1,202
Median Rent
$246,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer first-floor primary suites, private patios, driveways, sheds, and spacious backyard areas.
Where is this duplex located?
The property is located at 4407 Victoria Boulevard Hampton, VA.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Two‑unit duplex totaling 4,000 square feet, with 2,000 square feet per residence; Each unit includes 4 bedrooms, 2 full baths, and 2 half baths; First‑floor primary suite with ensuite and walk‑in closet in both residences
