Updated Side-by-Side
For Sale
$330,000
827 Mt Vernon Ave, Portsmouth, VA 23707
Two residential units offer three-bedroom layouts, central HVAC, and separately paid utilities.
Property Size2,336 SF
Price / SF$141.27
Days on Market84
Property Features for 827 Mt Vernon Ave
General Information
Standard status
Active
Size
2,336 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
central air & heating
Building Details
Year Built
1918
Listing Agency:
Shaffer Realty LLC
Listed By:
Marty Miller
(757) 284-6068
Source:
Horakrealtygroup
Added: Jul 23
Changed: Oct 11
Last Checked: Oct 13 at 12:02AM
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
Investment Insights
Based on property information with market context.
This side-by-side duplex at 827 Mt Vernon Ave in Portsmouth includes 2,336 square feet and was built in 1918. Each residence has three bedrooms, one bathroom, central air conditioning, and central heat. Recent updates have been completed, and the two units function as separate residences within the building.
Residents pay their own utilities. The property is near Olde Towne, Naval Hospital, the shipyard, the port, and interstate routes, placing several established employment and transportation destinations within the surrounding area.
Residents pay their own utilities. The property is near Olde Towne, Naval Hospital, the shipyard, the port, and interstate routes, placing several established employment and transportation destinations within the surrounding area.
Key Highlights
- Side‑by‑side duplex with 2,336 square feet
- Two units, each with 3 bedrooms and 1 bathroom
- Central air conditioning and heating in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,287
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,740
$405.7K
Cap Rate 7%
$289,814
$289.8K
Cap Rate 9%
$225,411
$225.4K
Market Conditions
NOI Build-Up for 2,336 SF
Gross rent
$31.4K $13.44/SF
− Vacancy
−$2.4K −$1.03/SF
EGI
$29.0K $12.41/SF
− OpEx
−$8.7K −$3.72/SF
NOI
$20.3K $8.68/SF
Area
Portsmouth County, VA
Vacancy
7.69%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,740
Cap Rate 7%
$289,814
Cap Rate 9%
$225,411
Alternative Uses
Best Use
Multifamily LT 5
$289.8K
$253.6K – $338.1K
NOI $20,287 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$267.2K
$233.8K – $311.7K
NOI $18,703 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$743.7K
$650.7K – $867.7K
NOI $52,059 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 23707, VA
14,316
Population
7,216
Households
2
Avg Household Size
36
Median Age
26%
College-Educated
87%
High-School Grad
3.9 sq mi
ZIP Area
3,671
Density / Sq Mi
$51,070
Median Household Income
$37,932
Median Earnings
$1,076
Median Rent
$222,100
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer three-bedroom layouts, central HVAC, and separately paid utilities.
Where is this duplex located?
The property is located at 827 Mt Vernon Ave Portsmouth, VA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 2,336 square feet; Two units, each with 3 bedrooms and 1 bathroom; Central air conditioning and heating in both units
