Two-Unit Duplex with Off-Street
New
For Sale
$399,950
8 S Robinson Street, Richmond, VA 23220
ResidentialIncome, Richmond, VA
Property Size1,789 SF
Lot Size0.05 Acres
Price / SF$223.56
Days on Market5
Property Features for 8 S Robinson Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
B-6
Parking features
Off Street, On Street
Patio and Porch features
Porch
Appliances
GasWaterHeater
Elementary school
Fox
Middle school
Dogwood
High school
Thomas Jefferson
Directions
On Robinson Street between Main & Cary Streets. Sign in the yard.
Subdivision
10 - Richmond
Standard status
Active
APN
W000-1160-018
Size
1,789 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
0019.54X0103.00 0000.000
Tax Annual Amount
4692
Legal Description
0019.54X0103.00 0000.000
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
Off-street parking
Gas cooking
Central air
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Building materials
Drywall, Frame, VinylSiding, WoodSiding
Architectural style
Other
Listing Agency:
Keller Williams Realty
(804) 282-5901
Listed By:
Michael Ryan · License #0225045605
(804) 873-9333
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 15 at 1:06AM
MLS# 2625081
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.
Investment Insights
Based on property information with market context.
Built in 1920, this 1,789-square-foot duplex contains two residential units with two bedrooms and one bathroom per unit. The interiors provide connected living and kitchen areas, while gas supports cooking and heating and each unit has central air. Separate electric and gas metering serves the units, with water and sewer handled by the owner or billed to occupants.
The property occupies 0.0462 acres at 8 S Robinson Street in Richmond’s Fan District. Off-street and on-street parking are available, and the building includes a porch. Public water and public sewer serve the property. Exterior construction includes frame elements with vinyl and wood siding.
The property occupies 0.0462 acres at 8 S Robinson Street in Richmond’s Fan District. Off-street and on-street parking are available, and the building includes a porch. Public water and public sewer serve the property. Exterior construction includes frame elements with vinyl and wood siding.
Key Highlights
- Two residential units, each with two bedrooms and one bathroom
- 1,789 square feet on a 0.0462‑acre lot
- Gas cooking and heating with central air in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,605
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$472,100
$472.1K
Cap Rate 7%
$337,214
$337.2K
Cap Rate 9%
$262,278
$262.3K
Market Conditions
NOI Build-Up for 1,789 SF
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.
Gross rent
$36.1K $20.16/SF
− Vacancy
−$2.3K −$1.31/SF
EGI
$33.7K $18.85/SF
− OpEx
−$10.1K −$5.65/SF
NOI
$23.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$472,100
Cap Rate 7%
$337,214
Cap Rate 9%
$262,278
Alternative Uses
Best Use
Multifamily LT 5
$337.2K
$295.1K – $393.4K
NOI $23,605 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$316.6K
$277.0K – $369.4K
NOI $22,163 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$413.3K
$361.7K – $482.2K
NOI $28,932 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,740
Businesses Nearby
Explore this area
Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit includes two bedrooms, one bath, gas cooking and heating, and central air.
Where is this duplex located?
The property is located at 8 S Robinson Street Richmond, VA.
What is the asking price?
The asking price for this property is $399,950.
What are key features of this property?
This property features: Two residential units, each with two bedrooms and one bathroom; 1,789 square feet on a 0.0462‑acre lot; Gas cooking and heating with central air in each unit
