Brick Side-by-Side
5220 Kennebeck Avenue Norfolk, VA 23513
New
5220 Kennebeck Avenue, Norfolk, VA, 23513
$299,900
For Sale
$299,900
MULTI_FAMILY - Norfolk, VA
Property Size1,600 SF
Price / SF$187.44
Days on Market5
Property Features for 5220 Kennebeck Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- R-7
- Standard status
- Active
- Size
- 1,600 SF
Taxes and HOA fees
- Tax Annual Amount
- 3495
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1962
- Roof type
- Composition
- Architectural style
- Other
Listing agency
RE/MAX Alliance
(757) 456-2345
Listed by
April Partida · License #225777902
(757) 456-2345
Added: Jul 17 Updated: Jul 18 at 9:36AM Checked: Jul 21 at 3:06PM
MLS# 10644843
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.
Investment Insights
Based on property information with market context.
Brick side-by-side duplex featuring private yard space for each resident. The units have separate meters, and tenants pay all utilities except storm water for $35 per month. Kitchens are eat-in with extensive storage, including a pantry, and washer and dryer connections. Each unit is equipped with window AC units, and the property includes central heat.
Updates were completed in 2024, including a full refresh with new paint, new flooring, new appliances, and window units. The home is under a termite contract, and the roof is approximately 10 years old.
Zoned R-7, this is a turn-key, maintained residential income property at 5220 Kennebeck Avenue in Norfolk, Virginia 23513, offered for sale at $299,900.
Updates were completed in 2024, including a full refresh with new paint, new flooring, new appliances, and window units. The home is under a termite contract, and the roof is approximately 10 years old.
Zoned R-7, this is a turn-key, maintained residential income property at 5220 Kennebeck Avenue in Norfolk, Virginia 23513, offered for sale at $299,900.
Key Highlights
- Brick side‑by‑side duplex built in 1962 with waterfront feature
- Private yard for each resident with separate meters and tenants pay all utilities except storm water ($35/month)
- 2024 full refresh including new paint, new flooring, and new appliances, plus window units
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.7k | $19.80 |
| − Vacancy | −$1.7k | −$1.09 |
| EGI | $29.9k | $18.71 |
| − OpEx | −$9.0k | −$5.61 |
| NOI | $21.0k | $13.10 |
1,600 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$268.9K
$235.3K – $313.7K
NOI $18,820 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$339.4K
$297.0K – $396.0K
NOI $23,759 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Separate meters serve each unit, with private yards and tenant-paid utilities except storm water.
Where is this duplex located?
The property is located at 5220 Kennebeck Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Brick side‑by‑side duplex built in 1962 with waterfront feature; Private yard for each resident with separate meters and tenants pay all utilities except storm water ($35/month); 2024 full refresh including new paint, new flooring, and new appliances, plus window units
