About This Home

This 0-bedroom, 0-bathroom multi-family at 521 Monroe Avenue in Cape Charles, VA is listed for $889,000 ($289 per sqft). Built in 1920, the home offers 3,072 sqft of living space on a N/A lot.

Key Features

Built in 1920

Property Details

1920

Listing Description

Rare turnkey duplex investment opportunity in the heart of historic Cape Charles. Fully renovated in 2020, this coastal property features two identical units, each offering 3 bedrooms, 2 full baths, spacious living areas, full kitchens with stainless appliances, dining areas, hardwood flooring, wall-to-wall carpet, attic storage, and in-unit washers & dryers.

Both units include central HVAC with heat pumps, double-pane windows, electric water heaters, patios, and off-street parking with a stone driveway. All furniture, appliances, and decor purchased in 2021 convey, making this a true move-in ready or short-term rental opportunity.

Property has 4 years of established vacation rental history with strong income potential. Located just minutes from public beach access, local shops, restaurants, and entertainment in one of Virginia's most popular coastal towns. 1 unit is occupied with a year lease ending in 2027 and the other unit has several short term rentals

Monthly Cost Estimate

$4,755/mo

20% down · 6.5% · 30 years

Principal$643

Interest$3,852

Insurance$259

Estimates only. Actual payments may vary.

Location

521 Monroe Avenue

Cape Charles, VA 23310

CAPE CHARLES

Questions & Answers

This 0-bedroom, 0-bathroom multi-family at 521 Monroe Avenue is listed at $889,000 ($289/sqft). The estimated monthly payment is $4,754 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1920.

This property is listed by Steve Marable.

Steve Marable

Agent at Iron Valley Real Estate Hampton Roads

521 Monroe Avenue, Cape Charles, VA 23310