Two-Unit Residential
For Sale
$260,000
4885 Kennebeck Avenue, Norfolk, VA 23513
Multi Family Residential, Norfolk, VA
Property Size1,450 SF
Price / SF$179.31
Days on Market54
Property Features for 4885 Kennebeck Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RES
Subdivision
ELMHURST
Elementary school
Sherwood Forest Elementary
Middle school
Norview Middle
Standard status
Active
Size
1,450 SF
Taxes and HOA fees
Tax Annual Amount
2862
Amenities
gas range
dishwasher
microwave
washer/dryer hookup
gas stove hookup
Building Details
Year built
1950
Roof type
Shingle
Listing Agency:
RE/MAX Elevate · RE/MAX International
Listed By:
Deborah Giese
(757) 873-3636
Added: Sep 3
Changed: Oct 2
Last Checked: Oct 26 at 11:06AM
MLS# 10652172
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 1,450-square-foot duplex, built in 1950, contains two residences. The lower unit has two bedrooms, one bathroom, a living room, dining room, and kitchen; its appliances include a gas range, dishwasher, and microwave, with washer and dryer hookups. Upstairs, the second unit includes one bedroom, one bathroom, and a kitchen with a refrigerator and gas-stove hookup. The property is zoned RES and has a shingle roof.
Key Highlights
- 1,450‑square‑foot duplex built in 1950
- Lower unit includes 2 bedrooms, 1 bathroom, living room, dining room, and kitchen
- Lower kitchen has a gas range, dishwasher, and microwave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,992
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
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
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 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.
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Open Analytics
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate upper and lower residences offer distinct bedroom and kitchen layouts.
Where is this duplex located?
The property is located at 4885 Kennebeck Avenue 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: 1,450‑square‑foot duplex built in 1950; Lower unit includes 2 bedrooms, 1 bathroom, living room, dining room, and kitchen; Lower kitchen has a gas range, dishwasher, and microwave
