2 months on rocket

1526 W 40th St, Norfolk, VA, 23508

$515,000

Home List Price

$6,116*

Closing Credit

0 Baths
3,050 SqFt
$169/SqFt
Multi

Location

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1526 W 40th St, Norfolk$515,000

Buyer Closing Credits

$6,116*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1905
MLS #10550271
StatusActive

About 1526 W 40th St

Awesome Opportunity To Own A 4-Plex Next To Old Dominion University Football Stadium And Campus! Rental Income Potential $4500-$5500. Unit 1B Has Just Been Renovated With New Stainless Appliances, New Paint, New Lvp Flooring & New Carpet. Has Newer Heat Pump. Available Now For Rent At $1250. Buyer Can Buy To Live In And Have Units Pay Mortgage! Hurry If Desire To Live In As The Rentals In This Area Go Fast! Unit 1A Was Also Recently Renovated With New Kitchen Appliances, Cabinets, Countertops, LVP Flooring. New Tenant With Lease Til 7/31/2025. Unit 2A Bath Has Recently Been Completely Remodeled And New Heat Pump 10/2023. Great Opportunity For Instant Cash Flow. Near A Bus Line, Restaurants, Shopping, Bases And Schools. Off Street Parking For Up To 4 Cars Which Is Unusual In This Area. Community Laundry Room. Tenants Pay Their Own Utilities. Don’t Miss This Chance To Own This 4-Plex Next To ODU!

Property Details

Property Features

Property Information:

  • Architectural Style: Over/Under
  • Year Built: 1905
  • Living Area: 3,050 SqFt

Listing Office:

  • Office Name: Judy Reed Realty
  • Listing Agent: Judy Reed

Interior Features

Interior Information:

  • Basement: No

Price Information

Listing Price Info

Price Summary:

  • List Price: $515,000
  • Price Per SqFt: $169/SqFt

Tax Information:

  • Annual Amount: $4,244
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Norfolk, VA.

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Norfolk, VA

City

Med. List Price

$324.6K

Med. Price/SqFt

$205

Avg. Days On Market

76

# of Sold Homes

206

1526 W 40th St vs Norfolk

68 DAYS ON ROCKET

-8 Days

$515,000

+$190.3K More

$169/SqFt

-$36 Less

KEY TAKEAWAY

This property is $190.3K more than the Median List Price and $36/SqFt less than other homes in Norfolk, VA.

Based on homes listed in October 2024

MLS Details

MLS Information:

  • MLS Number: #10550271

Listing Office:

  • Office Name: Judy Reed Realty
  • Listing Agent: Judy Reed

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Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$4,244$339,500
2020$3,230$258,400
2019$2,985$258,400
2018$2,687$246,700
2017$2,380$249,300

History based on county public records data.

Payment Calculator

$2,638

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,610

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-3927
6
/10

  • Larchmont Elementary School

  • 1145 Bolling Ave

  • 0.90 miles

  • Public District Grades PK-5

school-card-donut-3928
8
/10

  • W. H. Taylor Elementary School

  • 1122 W Princess Anne Rd

  • 0.93 miles

  • Public District Grades PK-5

school-card-donut-3929
3
/10

  • James Monroe Elementary School

  • 520 W 29th St

  • 1.22 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $16,649. The majority of Norfolk, VA residents have income less than $35k annually. Most families are single, no kids. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›Virginia›Norfolk›23508›1526 W 40th St

This home is located at 1526 W 40th St in Norfolk, VA and zip code 23508 in the Lambert's Point neighborhood. This 3,050 square foot home was built in 1905. It has been listed on Rocket Homes since September 06, 2024 and is currently priced at $515,000.

Between September 2024 and October 2024, Norfolk, VA real estate market has seen increase in the number of listings by 12.9%. While the average time on the market in October 2024 was 76 days, the median list price was $324,673.

From Rocket Homes Real Estate and based on county public records data.

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