Duplex with Updated First-Floor
New
For Sale
$310,000
717 W 35th St, Norfolk, VA 23508
Two separate apartments provide a two-bedroom lower unit and a one-bedroom upper unit.
Property Size1,680 SF
Price / SF$184.52
Days on Market3
Property Features for 717 W 35th St
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Multi Family Home
Site & Location
Neighborhood
Park Place
Highway Access
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR
Multifamily Units
2
Amenities
country-style front porch
spacious backyard
new storage shed
Building Details
Building Size
1,680 SF
Year Built
1919
Buildings
1
Listing Agency:
Iron Valley Real Estate HR
(757) 645-9700
Listed By:
Matthew Salway
Source:
Hoggerealestate
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 4:24AM
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 Iron Valley Real Estate HR
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,680-square-foot duplex, built in 1919, contains a two-bedroom, one-bath first-floor apartment and a one-bedroom upstairs apartment. The lower unit’s kitchen was renovated in 2024; a new HVAC system and water heater were installed in 2025. The upper apartment has been freshly painted, and bathroom remodeling is underway. Other 2025 work includes plumbing and foundation upgrades, new gutters and downspouts, and a storage shed. Outdoor features include a country-style front porch and a spacious backyard, with on-street parking available.
The property is in Norfolk’s Park Place neighborhood, near ODU, Ghent, Colonial Place, Downtown Norfolk, shopping, dining, and major interstates.
The property is in Norfolk’s Park Place neighborhood, near ODU, Ghent, Colonial Place, Downtown Norfolk, shopping, dining, and major interstates.
Key Highlights
- 1,680‑square‑foot duplex built in 1919
- Two‑bedroom, one‑bath first‑floor unit and one‑bedroom upstairs unit
- First‑floor kitchen renovated in 2024; new HVAC system and water heater installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,004
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,080
$440.1K
Cap Rate 7%
$314,343
$314.3K
Cap Rate 9%
$244,489
$244.5K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$33.3K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$31.4K $18.71/SF
− OpEx
−$9.4K −$5.61/SF
NOI
$22.0K $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%
$440,080
Cap Rate 7%
$314,343
Cap Rate 9%
$244,489
Alternative Uses
Best Use
Multifamily LT 5
$314.3K
$275.1K – $366.7K
NOI $22,004 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$282.3K
$247.0K – $329.4K
NOI $19,761 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$356.4K
$311.8K – $415.8K
NOI $24,947 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,519
Businesses Nearby
Explore this area
Business Placement
Demographics for 23508, VA
20,485
Population
7,112
Households
2.9
Avg Household Size
27
Median Age
56%
College-Educated
93%
High-School Grad
3.3 sq mi
ZIP Area
6,208
Density / Sq Mi
$74,524
Median Household Income
$24,975
Median Earnings
$1,381
Median Rent
$384,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments provide a two-bedroom lower unit and a one-bedroom upper unit.
Where is this duplex located?
The property is located at 717 W 35th St Norfolk, VA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 1,680‑square‑foot duplex built in 1919; Two‑bedroom, one‑bath first‑floor unit and one‑bedroom upstairs unit; First‑floor kitchen renovated in 2024; new HVAC system and water heater installed in 2025
