2-Unit Brick
New
For Sale
$449,000
7 N 21st Street, Richmond, VA 23223
ResidentialIncome, Richmond, VA
Property Size1,648 SF
Lot Size0.04 Acres
Price / SF$272.45
Days on Market2
Property Features for 7 N 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
M-1
Rooms
Dining Room
Parking features
Garage, On Street
Patio and Porch features
Porch, Patio, Deck
Interior features
Bookcases, BuiltInFeatures, BedroomOnMainLevel, CeilingFans, DiningArea, EatInKitchen, EnSuiteBathroom, FullBathOnMainLevel, HighCeilings, HighSpeedInternet, LaminateCounters, BathInPrimaryBedroom, RecessedLighting, WiredForData
Fencing
Fenced, Privacy
Appliances
WaterHeater
Lot features
Level
View
City
Elementary school
Bellevue
Middle school
Martin Luther King Jr.
High school
Armstrong
Directions
Go East East Broad Street, make a right onto 21st Street, duplex is on the left.
Subdivision
10 - Richmond
Standard status
Active
APN
E000-0226-035
Size
1,648 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0026.21X0063.00 0000.000
Tax Annual Amount
4956
Legal Description
0026.21X0063.00 0000.000
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
enclosed patio/deck
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Brick, Drywall, Plaster
Roof type
Flat
Architectural style
Colonial
Listing Agency:
Joyner Fine Properties
(804) 270-9440
Listed By:
Jeannette Mock · License #0225083042
(804) 714-6469
Added: Oct 15
Changed: Oct 16
Last Checked: Oct 16 at 5:06PM
MLS# 2627962
Copyright © 2026 Central Virginia Regional Multiple Listing Service. 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 1,648-square-foot duplex in Richmond contains two residences, each with an open-concept living area and generously sized bedrooms. The brick building dates to 1900 and includes an enclosed rear patio or deck, fenced privacy, and garage and on-street parking. Public water and sewer serve the property.
Located at 7 N 21st Street in the Shockoe Bottom area, the duplex is steps from Whisk and next to Taylor’s Hill. Both residences are leased through mid-2027.
Located at 7 N 21st Street in the Shockoe Bottom area, the duplex is steps from Whisk and next to Taylor’s Hill. Both residences are leased through mid-2027.
Key Highlights
- Two residences, both leased through mid‑2027
- 1,648 square feet in a brick building constructed in 1900
- Enclosed rear patio or deck with privacy fencing
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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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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, with open living areas and an enclosed rear deck.
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 residences, both leased through mid‑2027; 1,648 square feet in a brick building constructed in 1900; Enclosed rear patio or deck with privacy fencing
