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Richmond 23222 Highland Terrace
516 Arnold Avenue
$300,000
● House - Off Market

516 Arnold Avenue

Richmond, VA 23222
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
$1,670
Est. Monthly
9.04%
Cap Rate

About This Property

Welcome to 516 Arnold Avenue. You will love this classic stucco, 4 square home in the very desirable Northside neighborhood. BrookandPark Blvd is exploding with coffee shops, restaurants, ice cream and even a live show venue. This 3 bedroom, 1.5 bathroom is the perfect place to call home with a great neighborhood feel and plenty of amenities right around the corner. large front porch and rear deck are perfect for entertaining...or just watching life go by. The large fenced back yard will be great for kids and pets to play. The soffits were recently replaced with vinyl. New downspouts, chimney cap and roof coating were also recently done.
Unit Size
-
Days on Market
34 days
Land Size
0.12 acres
Price per sqft
-
Property Type
House
Property Taxes
$206
HOA Dues
-
Year Built
1924

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (CVRMLS #2507914)

Price History

Date / Event Date Event Price
Apr 30, 2025 Sold
Premium
Sold
Apr 6, 2025 In contract -
In contract
Mar 27, 2025 Listed by Blue Dog Properties $298,000
Listed by Blue Dog Properties
Apr 21, 2017 Sold
Premium
Sold
May 21, 2010 Sold
Premium
Sold

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1924
  • Effective Year Built: 1972
  • Total Rooms: 9
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 17
  • Building Style: 15
  • Exterior Walls Type: 12
  • Interior Walls Type: 3
  • Roof Shape Type: 8
  • Roof Cover Type: 5
  • Floor Count: 200
  • Floor Cover: 15
  • Basement Type: 2
  • Basement Area: 750
  • Garage Type: 4
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,175
  • Lot Size Depth Feet: 1,050
  • Lot Size Frontage Feet: 490
  • Total Building Area: 1,500
  • Building Area: 1,500
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 8
  • Heated Square Feet: 1,500
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 5
  • Water Service: 6

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: NORTHSIDE
  • Land Acres: 0000000119
  • Standard Land Use Code: 1001
  • County Land Use Code: 120
  • Legal Description 1: NORTHSIDE PLACE L24PT25 B7 0049.29X0105.00 0000.000

Neighborhood

  • School District Name: Richmond City Public Schools
  • Census Tract: 010800

Zoning

  • Zoning: R-5 SINGLE

Geography

  • District: 606
  • Parcel: N-000-1147-017
  • Municipality: GATEWAY
  • Latitude: 37.5737
  • Longitude: -77.4254

    Address

  • Full Address: 516 Arnold Ave
  • Address - House Number: 516
  • Address - Street Name: Arnold
  • Address - Suffix Type: Ave
  • State: VA
  • City Name: Richmond
  • Carrier Code: C024
  • 4-Digit Zip Code: 3005
  • Zip Code: 23222

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $238,800

    Appraisal Valuation

  • Standard Deviation: 0.242
  • Valuation Date: Oct 11, 2023
  • Confidence Score: 66
  • Final Value: 295,258
  • High Value: 366,734
  • Low Value: 223,782

    Market Valuation

  • Market Total Value: $199,000
  • Market Land Value: $58,000
  • Market Improvement Value: $141,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $199,000
  • Assessed Land Value: $58,000
  • Assessed Improvements Value: $141,000

    Sales

  • Current Sale Contract Date: Apr 13, 2017
  • Current Sale Recording Date: Apr 21, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 170007934
  • Previous Sale Recording Date: May 21, 2010
  • Previous Sale Contract Date: Apr 29, 2010
  • Previous Sale Amount: $39,000
  • Previous Sale Document Type: 68
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Northside

Stats & Trends

Median Asking:

$399,950

Sale Price/ft²

$229

Below Asking

0.01%

Average Days on Market

39

Average Home Size

1821 ft²

Average Home Age

54.7 years

Currently For Sale

54 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 1806 Sussex Street, Richmond, VA, 23223

$2,500 /mo

  • 4 Beds
  • 2 Baths
  • 1,197 ft²
1806 Sussex Street, Richmond, VA, 23223 Listing by Rick Delgado
Unit for rent at 2209 Fairmount Avenue, Richmond, VA, 23223

$2,500 /mo

  • 3 Beds
  • 2 Baths
  • 1,652 ft²
2209 Fairmount Avenue, Richmond, VA, 23223 Listing by Tonya Nutall
Unit for rent at 6410 Crittenden Lane, SPOTSYLVANIA, VA, 22553

$2,400 /mo

  • 3 Beds
  • 2 Baths
  • 1,760 ft²
6410 Crittenden Lane, SPOTSYLVANIA, VA, 22553 Listing by Frances J Heatherman

Rentals Near You

Click here to view more rentals in the neighborhood.
CVR

Listed by: K.C. Byrnes, Blue Dog Properties
Last Updated: 2 years ago
Data Source: CVRMLS , MLS# 2507914
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Courtesy First Choice Realty.
Courtesy of RH Advisors, Inc. and RHP Realty NJ, Inc. CalDRE: 00494703

Frequently Asked Questions

When was property at 516 Arnold Avenue built and last sold?
The property at 516 Arnold Avenue was built in 1924 and last sold on Apr 13, 2017 for $162,000.
How much is this home worth?
The estimated value of the home located at 516 Arnold Avenue is $0.
What are some comparable homes to 516 Arnold Avenue?
There are currently no comparable homes to 516 Arnold Avenue.
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