716 31st Street, Newport News, VA 23607
- Added:
- May 1, 2026
- Days on Market:
- 51
- Last Refresh:
- Jun 20 at 3:06 am
Property Features for 716 31st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R4
- Standard status
- Active
- Size
- 1,680 SF
Taxes and HOA fees
- Tax Annual Amount
- 2691
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1940
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Kris Weaver (757) 340-5555
Listing office Atlantic Sothebys Int'l Realty 4416 Expressway Dr., Virginia Beach, VA (757) 777-9870
Listing date May 1, 2026
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.
HighLights
- Leases secured through 2027, providing immediate and stable cash flow.
- Turnkey income‑producing duplex in a desirable location.
- Low‑maintenance ownership due to LVP flooring, updated windows, and modern HVAC systems.
- Convenient location near major employers, shipyard, and interstate access.
- Separately metered utilities for maximized efficiency and simplified management.
- Well‑maintained property, perfect for expanding or starting a rental portfolio.
Overview
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 | $29.2k | $17.40 |
| − Vacancy | −$1.5k | −$0.91 |
| EGI | $27.7k | $16.49 |
| − OpEx | −$8.3k | −$4.95 |
| NOI | $19.4k | $11.54 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Newport News
- County
- Newport News
- State
- Virginia
- Longitude
- -76.419947
- Latitude
- 36.986424
