2-Unit Brick
New
For Sale
$529,950
908 W Clay St, Richmond, VA 23220
Two distinct residences offer separate kitchens, laundry hookups, and fenced rear outdoor space near Virginia Commonwealth University.
Property Size2,654 SF
Price / SF$199.68
Days on Market3
Property Features for 908 W Clay St
General Information
Standard status
Active
Size
2,654 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Crvr
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
fenced rear patio
Building Details
Year Built
1900
Buildings
1
Stories
2
Construction
brick rowhouse
Listing Agency:
Lake Anna Island Realty
(540) 894-4400
Listed By:
The Elliott Real Estate Team
(804) 404-5566
Source:
Elliottreteam
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 24 at 3:26PM
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 Lake Anna Island Realty
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Investment Insights
Based on property information with market context.
This two-story brick duplex at 908 W Clay St contains two separate residences, each with approximately 1,300 square feet. The first-floor unit has two bedrooms and one bathroom; the upper unit has three bedrooms and one bathroom. Both include living rooms with brick accent walls, kitchens with electric cooktops, and laundry closets with stacked washer and dryer hookups. LVP flooring is present in several rooms, and the upper residence also has a pantry and utility closet. The building dates to 1900.
A fenced patio occupies the rear of the property, with rear access for the upstairs residence. The address is in Richmond’s Carver neighborhood, near Virginia Commonwealth University and downtown Richmond, with dining, shopping, and entertainment options in the surrounding area. Major roadways are accessible from the property.
A fenced patio occupies the rear of the property, with rear access for the upstairs residence. The address is in Richmond’s Carver neighborhood, near Virginia Commonwealth University and downtown Richmond, with dining, shopping, and entertainment options in the surrounding area. Major roadways are accessible from the property.
Key Highlights
- Two‑story brick duplex with two separate residences
- Approximately 1,300 square feet per unit
- First‑floor residence: 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,019
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,380
$700.4K
Cap Rate 7%
$500,271
$500.3K
Cap Rate 9%
$389,100
$389.1K
Market Conditions
NOI Build-Up for 2,654 SF
Gross rent
$53.5K $20.16/SF
− Vacancy
−$3.5K −$1.31/SF
EGI
$50.0K $18.85/SF
− OpEx
−$15.0K −$5.65/SF
NOI
$35.0K $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 Rate 5%
$700,380
Cap Rate 7%
$500,271
Cap Rate 9%
$389,100
Alternative Uses
Best Use
Multifamily LT 5
$500.3K
$437.7K – $583.7K
NOI $35,019 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$469.7K
$411.0K – $548.0K
NOI $32,879 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$613.2K
$536.5K – $715.4K
NOI $42,921 @ 7.0% cap · market cap 8.10%
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
2,460
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences offer separate kitchens, laundry hookups, and fenced rear outdoor space near Virginia Commonwealth University.
Where is this duplex located?
The property is located at 908 W Clay St Richmond, VA.
What is the asking price?
The asking price for this property is $529,950.
What are key features of this property?
This property features: Two‑story brick duplex with two separate residences; Approximately 1,300 square feet per unit; First‑floor residence: 2 bedrooms and 1 bathroom
