Two-Unit Brick
New
For Sale
$330,000
911 Mildred Street, Norfolk, VA 23518
Multi Family Residential, Side by Side, Norfolk, VA
Property Size1,600 SF
Price / SF$206.25
Days on Market5
Property Features for 911 Mildred Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-7
Subdivision
COLONIAL HEIGHTS
Lot features
Shed
Elementary school
Crossroads Elementary
Middle school
Norview Middle
Standard status
Active
Size
1,600 SF
Taxes and HOA fees
Tax Annual Amount
3299
Amenities
in-unit laundry
Building Details
Year built
1965
Roof type
Shingle
Architectural style
Other
Listing Agency:
Real Broker LLC
(757) 575-0458
Listed By:
Kara Evalenko
(855) 450-0442
Added: Oct 5
Changed: Oct 8
Last Checked: Oct 9 at 12:06PM
MLS# 10656436
Copyright © 2026 Real Estate Information Network, Inc. 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.
This 1,600-square-foot, all-brick duplex was built in 1965 and contains two adjoining residences with mirrored layouts. Each home has two bedrooms, one bathroom, and its own laundry equipment. Utilities are separately metered, and the property includes shared driveway parking. The shingle roof is another documented building feature.
The property is in Norfolk, near Naval Station Norfolk, Ocean View beach access, interstate corridors, and Norfolk International Airport. It is zoned R-7.
The property is in Norfolk, near Naval Station Norfolk, Ocean View beach access, interstate corridors, and Norfolk International Airport. It is zoned R-7.
Key Highlights
- Two adjoining residences, each with 2 bedrooms and 1 bathroom
- 1,600 square feet; built in 1965
- All‑brick construction with a shingle roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,956
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$31.7K $19.80/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$29.9K $18.71/SF
− OpEx
−$9.0K −$5.61/SF
NOI
$21.0K $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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$268.9K
$235.3K – $313.7K
NOI $18,820 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$339.4K
$297.0K – $396.0K
NOI $23,759 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 23518, VA
30,278
Population
13,911
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
6.1 sq mi
ZIP Area
4,964
Density / Sq Mi
$73,899
Median Household Income
$47,605
Median Earnings
$1,348
Median Rent
$280,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and have separate utility meters.
Where is this duplex located?
The property is located at 911 Mildred Street Norfolk, 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: Two adjoining residences, each with 2 bedrooms and 1 bathroom; 1,600 square feet; built in 1965; All‑brick construction with a shingle roof
