Renovated
New
For Sale
$236,000
739 18th St, Newport News, VA 23607
One of the two units is occupied by a tenant, while the other remains available for owner use or rental.
Property Size1,200 SF
Price / SF$196.67
Days on Market3
Property Features for 739 18th St
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi Family Home
Zoning
R4
Site & Location
Neighborhood
Wickham
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Building Size
1,200 SF
Year Built
1940
Year Renovated
2024
Listing Agency:
Shaffer Realty LLC
(757) 468-5000
Listed By:
Greg Covington
Source:
Jamesallengroup
Added: Oct 29
Last Checked: Oct 29 at 2:50PM
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 Shaffer Realty LLC
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Investment Insights
Based on property information with market context.
This two-unit residential property contains 1,200 square feet and was rehabilitated in 2024. One unit is tenant-occupied; the second unit provides a separate living space. The property was built in 1940 and is zoned R4.
Key Highlights
- Two‑unit duplex with 1,200 square feet
- Rehabilitated in 2024
- One unit is tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,853
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,060
$277.1K
Cap Rate 7%
$197,900
$197.9K
Cap Rate 9%
$153,922
$153.9K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$20.9K $17.40/SF
− Vacancy
−$1.1K −$0.91/SF
EGI
$19.8K $16.49/SF
− OpEx
−$5.9K −$4.95/SF
NOI
$13.9K $11.54/SF
Area
Newport News, VA
Vacancy
5.22%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,060
Cap Rate 7%
$197,900
Cap Rate 9%
$153,922
Alternative Uses
Best Use
Multifamily LT 5
$197.9K
$173.2K – $230.9K
NOI $13,853 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$176.4K
$154.4K – $205.8K
NOI $12,349 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$254.9K
$223.0K – $297.3K
NOI $17,840 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
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Business Placement
Demographics for 23607, VA
23,498
Population
10,764
Households
2.2
Avg Household Size
33
Median Age
14%
College-Educated
85%
High-School Grad
6.0 sq mi
ZIP Area
3,916
Density / Sq Mi
$42,904
Median Household Income
$33,746
Median Earnings
$1,104
Median Rent
$146,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One of the two units is occupied by a tenant, while the other remains available for owner use or rental.
Where is this duplex located?
The property is located at 739 18th St Newport News, VA.
What is the asking price?
The asking price for this property is $236,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,200 square feet; Rehabilitated in 2024; One unit is tenant‑occupied
