Two-Unit Residential
New
For Sale
$260,000
4885 Kennebeck Ave, Norfolk, VA 23513
Two-level duplex with separate kitchens and distinct bedroom layouts across the units.
Property Size1,450 SF
Price / SF$179.31
Days on Market6
Property Features for 4885 Kennebeck Ave
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Own Real Estate LLC
Listed By:
Crush Real State Group
(757) 690-2300
Source:
Wesellhamptonroadsva
Added: Sep 5
Changed: Sep 9
Last Checked: Sep 9 at 8:38AM
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 Own Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1950, this duplex includes a two-bedroom, one-bathroom lower unit with a living room, dining room, and kitchen. The lower kitchen is equipped with a gas range, dishwasher, and microwave, and includes a washer/dryer hookup.
The upper unit provides one bedroom, one bathroom, and a kitchen with a refrigerator and gas stove hookup. The property contains 1,450 of stated property size and is located at 4885 Kennebeck Ave in Norfolk, Virginia.
The upper unit provides one bedroom, one bathroom, and a kitchen with a refrigerator and gas stove hookup. The property contains 1,450 of stated property size and is located at 4885 Kennebeck Ave in Norfolk, Virginia.
Key Highlights
- Duplex with 2‑bedroom lower unit and 1‑bedroom upper unit
- Lower unit includes living room, dining room, and kitchen
- Lower kitchen has gas range, dishwasher, and microwave
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
$18,992
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
7.30%
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%
$379,840
$379.8K
Cap Rate 7%
$271,314
$271.3K
Cap Rate 9%
$211,022
$211.0K
Market Conditions
NOI Build-Up for 1,450 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
$28.7K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$27.1K $18.71/SF
− OpEx
−$8.1K −$5.61/SF
NOI
$19.0K $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 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%
$379,840
Cap Rate 7%
$271,314
Cap Rate 9%
$211,022
Alternative Uses
Best Use
Multifamily LT 5
$271.3K
$237.4K – $316.5K
NOI $18,992 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$243.7K
$213.2K – $284.3K
NOI $17,056 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$307.6K
$269.2K – $358.9K
NOI $21,532 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Explore this area
Business Placement
Demographics for 23513, VA
29,105
Population
13,040
Households
2.2
Avg Household Size
35
Median Age
22%
College-Educated
87%
High-School Grad
5.1 sq mi
ZIP Area
5,707
Density / Sq Mi
$66,875
Median Household Income
$39,547
Median Earnings
$1,187
Median Rent
$226,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level duplex with separate kitchens and distinct bedroom layouts across the units.
Where is this duplex located?
The property is located at 4885 Kennebeck Ave Norfolk, VA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Duplex with 2‑bedroom lower unit and 1‑bedroom upper unit; Lower unit includes living room, dining room, and kitchen; Lower kitchen has gas range, dishwasher, and microwave
