Duplex with In-Unit
New
For Sale
$329,000
639 W 26th St, Norfolk, VA 23517
Each residence has a 12-month lease, and tenants cover their utility costs.
Property Size2,300 SF
Price / SF$143.04
Days on Market2
Property Features for 639 W 26th St
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
washer/dryer in each unit
granite counters
stainless steel appliances
Building Details
Year Built
1910
Year Renovated
2022
Listing Agency:
The Property Shoppe
Listed By:
Brian Wurst
(757) 424-9007
Source:
Abwrealty
Added: Oct 16
Last Checked: Oct 16 at 7:30AM
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 The Property Shoppe
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Investment Insights
Based on property information with market context.
This 2,300-square-foot duplex contains two residences, each equipped with a washer and dryer. Renovated in 2022, the property features granite countertops and stainless steel appliances. The building dates to 1910.
Both units are leased on 12-month terms, with tenants responsible for all utilities.
Both units are leased on 12-month terms, with tenants responsible for all utilities.
Key Highlights
- Two‑unit duplex totaling 2,300 square feet
- Both residences have 12‑month leases
- Tenants pay all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,125
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,500
$602.5K
Cap Rate 7%
$430,357
$430.4K
Cap Rate 9%
$334,722
$334.7K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$45.5K $19.80/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$43.0K $18.71/SF
− OpEx
−$12.9K −$5.61/SF
NOI
$30.1K $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%
$602,500
Cap Rate 7%
$430,357
Cap Rate 9%
$334,722
Alternative Uses
Best Use
Multifamily LT 5
$430.4K
$376.6K – $502.1K
NOI $30,125 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$386.5K
$338.2K – $450.9K
NOI $27,054 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$487.9K
$426.9K – $569.2K
NOI $34,154 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,869
Businesses Nearby
Explore this area
Business Placement
Demographics for 23517, VA
5,237
Population
2,901
Households
1.8
Avg Household Size
33
Median Age
55%
College-Educated
97%
High-School Grad
0.8 sq mi
ZIP Area
6,546
Density / Sq Mi
$63,556
Median Household Income
$46,689
Median Earnings
$1,397
Median Rent
$355,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a 12-month lease, and tenants cover their utility costs.
Where is this duplex located?
The property is located at 639 W 26th St Norfolk, VA.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,300 square feet; Both residences have 12‑month leases; Tenants pay all utilities
