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927/929 Farmer Street Duplex 927 Farmer St 2 Unit Apartment Building $199,950 ($99,975/Unit) 13% Cap Rate Petersburg, VA 23803
Investment Highlights
- Turn-key rental, 50% occupied.
- Separate meters.
- All electric.
Executive Summary
Buy & Hold Investors – Great Duplex Opportunity in Petersburg, VA!
Looking to add a solid cash-flowing property to your portfolio? Don't miss this fantastic duplex in the growing Petersburg market!
This well-maintained 2-unit duplex features two 2-bedroom, 1-bath apartments. Both units are now vacant, giving the new owner the flexibility to place a new tenant at current market rents or occupy the unit.
Both apartments have a proven rental history and can comfortably generate $1,100 to $1,350 per month per unit, offering strong income potential.
The property has been previously renovated and is in move-in ready condition, minimizing upfront capital expenses.
Features include:
-Two 2-bedroom, 1-bath units
-Previously renovated interiors
-Electric baseboard heat
-Window A/C units
-Strong rental demand in the area
-Excellent opportunity for immediate cash flow and long-term appreciation
Whether you're a seasoned investor or looking to purchase your first income-producing property, this duplex offers an affordable opportunity to build wealth through real estate.
Looking to add a solid cash-flowing property to your portfolio? Don't miss this fantastic duplex in the growing Petersburg market!
This well-maintained 2-unit duplex features two 2-bedroom, 1-bath apartments. Both units are now vacant, giving the new owner the flexibility to place a new tenant at current market rents or occupy the unit.
Both apartments have a proven rental history and can comfortably generate $1,100 to $1,350 per month per unit, offering strong income potential.
The property has been previously renovated and is in move-in ready condition, minimizing upfront capital expenses.
Features include:
-Two 2-bedroom, 1-bath units
-Previously renovated interiors
-Electric baseboard heat
-Window A/C units
-Strong rental demand in the area
-Excellent opportunity for immediate cash flow and long-term appreciation
Whether you're a seasoned investor or looking to purchase your first income-producing property, this duplex offers an affordable opportunity to build wealth through real estate.
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$30,000
|
$17.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$30,000
|
$17.06
|
| Taxes |
$1,360
|
$0.77
|
| Operating Expenses |
$2,640
|
$1.50
|
| Total Expenses |
$4,000
|
$2.28
|
| Net Operating Income |
$26,000
|
$14.79
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $30,000 |
| Annual Per SF | $17.06 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $30,000 |
| Annual Per SF | $17.06 |
| Taxes | |
|---|---|
| Annual | $1,360 |
| Annual Per SF | $0.77 |
| Operating Expenses | |
|---|---|
| Annual | $2,640 |
| Annual Per SF | $1.50 |
| Total Expenses | |
|---|---|
| Annual | $4,000 |
| Annual Per SF | $2.28 |
| Net Operating Income | |
|---|---|
| Annual | $26,000 |
| Annual Per SF | $14.79 |
Property Facts
| Price | $199,950 | Apartment Style | Low-Rise |
| Price Per Unit | $99,975 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 13% | Building Size | 1,758 SF |
| No. Units | 2 | Average Occupancy | 50% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1890/2023 |
| Zoning | R-3 - 2 - Family | ||
| Price | $199,950 |
| Price Per Unit | $99,975 |
| Sale Type | Investment |
| Cap Rate | 13% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 1,758 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built/Renovated | 1890/2023 |
| Zoning | R-3 - 2 - Family |
Amenities
Unit Amenities
- Heating
- Hardwood Floors
- Refrigerator
- Oven
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,250 | 855 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 023-41-0023 | Total Assessment | $107,100 (2025) |
| Land Assessment | $6,900 (2025) | Annual Taxes | $1,360 ($0.77/SF) |
| Improvements Assessment | $100,200 (2025) | Tax Year | 2027 Payable 2027 |
Property Taxes
Parcel Number
023-41-0023
Land Assessment
$6,900 (2025)
Improvements Assessment
$100,200 (2025)
Total Assessment
$107,100 (2025)
Annual Taxes
$1,360 ($0.77/SF)
Tax Year
2027 Payable 2027
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927/929 Farmer Street Duplex | 927 Farmer St