Two-Unit Duplex with Separate
For Sale
$270,000
556 Bellwood Rd #A, Newport News, VA 23607
Tenant-occupied duplex with central air, independent electrical and gas service, and shared water between the units.
Property Size1,000 SF
Price / SF$270
Days on Market53
Property Features for 556 Bellwood Rd #A
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
North Newport News
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
central air
Building Details
Year Built
1938
Listing Agency:
Better Homes & Gdns Ntv Am Grp
Listed By:
Brian Wurst
(757) 424-9007
Source:
Abwrealty
Added: Sep 6
Changed: Oct 27
Last Checked: Oct 26 at 3:40PM
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 Better Homes & Gdns Ntv Am Grp
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Investment Insights
Based on property information with market context.
Built in 1938, this duplex contains two separate residential units. Unit A offers two bedrooms, one bathroom, and an additional room, while Unit B includes one bedroom, one bathroom, and a great room. Both units are equipped with central air conditioning.
Separate electrical and gas meters serve the units, with water shared between them. The property is currently tenant occupied under month-to-month lease agreements. Public transportation, restaurants, and other facilities are easily accessible from the property. Showings require at least 24 hours' notice, and the property will be conveyed as-is, where-is, with no additional repairs by the owner.
Separate electrical and gas meters serve the units, with water shared between them. The property is currently tenant occupied under month-to-month lease agreements. Public transportation, restaurants, and other facilities are easily accessible from the property. Showings require at least 24 hours' notice, and the property will be conveyed as-is, where-is, with no additional repairs by the owner.
Key Highlights
- Two‑unit duplex with 1,000 SF of property size
- Unit A includes 2 bedrooms, 1 bathroom, and a spare room
- Unit B includes 1 bedroom, 1 bathroom, and a great room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,544
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$230,880
$230.9K
Cap Rate 7%
$164,914
$164.9K
Cap Rate 9%
$128,267
$128.3K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$17.4K $17.40/SF
− Vacancy
−$908 −$0.91/SF
EGI
$16.5K $16.49/SF
− OpEx
−$4.9K −$4.95/SF
NOI
$11.5K $11.54/SF
Area
Newport News, VA
Vacancy
5.22%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$230,880
Cap Rate 7%
$164,914
Cap Rate 9%
$128,267
Alternative Uses
Best Use
Multifamily LT 5
$164.9K
$144.3K – $192.4K
NOI $11,544 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$147.0K
$128.6K – $171.5K
NOI $10,291 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$212.4K
$185.8K – $247.8K
NOI $14,867 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
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Business Placement
Demographics for 23607, VA
23,498
Population
10,764
Households
2.2
Avg Household Size
33
Median Age
14%
College-Educated
85%
High-School Grad
6.0 sq mi
ZIP Area
3,916
Density / Sq Mi
$42,904
Median Household Income
$33,746
Median Earnings
$1,104
Median Rent
$146,400
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 - Tenant-occupied duplex with central air, independent electrical and gas service, and shared water between the units.
Where is this duplex located?
The property is located at 556 Bellwood Rd #A Newport News, VA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,000 SF of property size; Unit A includes 2 bedrooms, 1 bathroom, and a spare room; Unit B includes 1 bedroom, 1 bathroom, and a great room
