Duplex with Enclosed
For Sale
$449,000
7 N 21st Street, Richmond, VA 23223
Both residences are leased through mid-2027 and feature open-concept living areas.
Property Size1,648 SF
Price / SF$272.45
Days on Market12
Property Features for 7 N 21st Street
General Information
Standard status
Active
Size
1,648 SF
Property subtype
Residential Income
Zoning
M-1
Occupancy
100%
Site & Location
Neighborhood
Shkb
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,956
Amenities
Bookcases
Built-in Features
Bedroom on Main Level
Ceiling Fan(s)
Dining Area
Eat-in Kitchen
En Suite Bathroom
Full Bath on Main Level
High Ceilings
High Speed Internet
Laminate Counters
Bath in Primary Bedroom
Recessed Lighting
Wired for Data
Building Details
Building Size
1,648 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Construction
brick
Listed By:
Mahmud Chowdhury
(804) 647-7686
Source:
Freedom1realty
Added: Oct 15
Changed: Oct 26
Last Checked: Oct 26 at 3:56AM
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 Mahmud Chowdhury
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Investment Insights
Based on property information with market context.
This 1,648-square-foot duplex dates to 1900 and has an all-brick exterior. Each residence has an open-concept living area and generously sized bedrooms. An enclosed patio or deck at the rear adds private outdoor space. Both units are leased through mid-2027, and the property is zoned M-1.
The building is at 7 N 21st Street in Richmond’s Shockoe Bottom. Whisk, which serves breakfast and lunch, is nearby, and Taylor’s Hill is next door.
The building is at 7 N 21st Street in Richmond’s Shockoe Bottom. Whisk, which serves breakfast and lunch, is nearby, and Taylor’s Hill is next door.
Key Highlights
- Two‑unit duplex with 1,648 square feet
- Both units leased through mid‑2027
- All‑brick building constructed in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,745
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,900
$434.9K
Cap Rate 7%
$310,643
$310.6K
Cap Rate 9%
$241,611
$241.6K
Market Conditions
NOI Build-Up for 1,648 SF
Gross rent
$33.2K $20.16/SF
− Vacancy
−$2.2K −$1.31/SF
EGI
$31.1K $18.85/SF
− OpEx
−$9.3K −$5.65/SF
NOI
$21.7K $13.19/SF
Area
Richmond, VA
Vacancy
6.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,900
Cap Rate 7%
$310,643
Cap Rate 9%
$241,611
Alternative Uses
Best Use
Multifamily LT 5
$310.6K
$271.8K – $362.4K
NOI $21,745 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$291.7K
$255.2K – $340.3K
NOI $20,416 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$380.7K
$333.2K – $444.2K
NOI $26,652 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,743
Businesses Nearby
Explore this area
Business Placement
Demographics for 23223, VA
51,960
Population
27,141
Households
1.9
Avg Household Size
35
Median Age
32%
College-Educated
90%
High-School Grad
16.7 sq mi
ZIP Area
3,111
Density / Sq Mi
$56,518
Median Household Income
$39,828
Median Earnings
$1,224
Median Rent
$236,300
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 - Both residences are leased through mid-2027 and feature open-concept living areas.
Where is this duplex located?
The property is located at 7 N 21st Street Richmond, VA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,648 square feet; Both units leased through mid‑2027; All‑brick building constructed in 1900
