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1509 W 45th St, Richmond, VA, 23225

2beds
2baths
1,189sqft
$475,000
$399price/sqft
$3,231/moest. monthly cost
$129,240/yrincome needed

About This Home

Tucked into one of Richmond's most beloved neighborhoods, this Forest Hill Park charmer delivers character, space, and a location that's hard to beat. With nearly a quarter acre of land, newly refinished hardwood floors, and a layout that just makes sense, this two-bedroom home is ready for its next chapter. The main living areas flow easily from the living room into a dedicated dining space - great for entertaining or simply enjoying the slower pace this neighborhood is known for. Two well-proportioned bedrooms and 1.5 baths round out the 1,189 square feet of living space, keeping things manageable without feeling small. Outside, the fully fenced backyard gives you privacy and room to breathe - perfect for everyone. The oversized two-car detached garage is a standout feature, with bonus storage above the parking level that adds serious flexibility for hobbies, gear, or a future workshop setup. Step outside the gate and the location does the heavy lifting. The South of the James Farmer's Market, Blanchard's Coffee, The Veil Brewing Co., and the trails along the James River are all within easy reach - this is the kind of walkability that's rare to find with a yard this size. Whether you're a buyer craving community and outdoor access or simply looking for a well-positioned home in a neighborhood people don't leave, 1509 W 45th is worth a serious look.

Getting Around

73
WalkingVery Walkable
34
TransitSome Transit
58
BikeBikeable

Schools

Construction

Condition

  • Property condition: Resale
  • Year built: 1954

Materials

  • Roof: Composition,Shingle
  • Construction materials: Brick,Drywall,Vinyl Siding,Wood Siding

Type & Style

  • Home type: SingleFamily
  • Architectural style: Ranch
  • Property subType: Single Family Residence

Interior

Appliances

  • Appliances included: Gas Water Heater

Basement

  • Basement: Crawl Space

Bedroom2

  • Level: First

Bedrooms & Bathrooms

  • Bedrooms: 2
  • Bathrooms: 2
  • Full bathrooms: 1
  • 1/2 bathrooms: 1

Dining Room

  • Level: First

Features

  • Flooring: Linoleum,Tile,Wood
  • Number of fireplaces: 1
  • Fireplace: Yes
  • Attic: Access Only
  • Finished area below ground: 0
  • Finished area above ground: 1,189

Half Bath

  • Level: First

Heating & Cooling

  • Heating features: Electric,Forced Air
  • Cooling features: Central Air

Interior Area

  • Total interior livable area: 1,189 sqft

Kitchen

  • Level: First

Living Room

  • Level: First

Master Bedroom

  • Level: First

Other

  • Level: First

Property

Details

  • Parcel number: S0002633005
  • Zoning description: R-4

Features

  • Levels: One
  • Stories: 1
  • Pool features: None
  • Fencing: Back Yard,Fenced

Lot

  • Lot size: 10,097 sqft

Parking

  • Total spaces: 2
  • Parking features: Detached,Garage
  • Has garage: Yes
  • Attached garage spaces: 2
  • Covered spaces: 2

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Heat Wave
    Heat WaveModerate
  • Inland Flooding
    Inland FloodingModerate

How This Home’s Risks Compare

Heat Wave
Inland Flooding

FEMA Declared Disasters Across Virginia Counties

Severe Storm
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $2,401$28,812
Home Insurance *$157$1,884
Property Taxes $471$5,652
Electricity $202$2,433
Total$3,231$38,772
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$110,777/yr
40% on housing$96,930/yr
45% on housing$86,160/yr

Virginia FAIR Plan Programs

Virginia Property Insurance Association

Covered
WildfireWildfire
Visit Website →
Current Policies
Residential: 22,622Commercial: 503
Total Premiums$20.86M
Total Exposure$4.29B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 8.7%
8.7%
0%30.0%
Electricity Growth Rate10-year average: 7.8%
7.8%
0%15.0%
Property Taxes Growth Rate2-year average: 7.8%
7.8%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$399This listing

vs Other Active Listings

Avg $/sqft

ZIP 23225$197
Richmond City$217

vs Homes Sold Last Month

Median $/sqft

ZIP 23225$250
Richmond City$226

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2026-08-09Pending sale$475,000
2026-06-26Price change$475,000
2026-05-15Listed for sale$499,000
1997-02-14Sold$90,000

For Sale by Agent

AgentAlyssa Devereaux
BrokerageCompass

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