5508 Grove Ave, Richmond, VA, 23226
About This Home
5508 Grove Avenue - a lovely, fully renovated duplex just steps from the popular Libbie/Grove shops & restaurants. This brick & slate property has been completely renovated inside & out and is a wonderful opportunity to own a high-end, income-producing investment. Live on one floor & rent out the other space, or rent both units. Total income for both units $6,500 per month. The lower unit is currently occupied until mid-January. Unit 1# (first floor): 2 bedrooms, 2.5 baths, entry fronts Seneca Road. The open-concept living room and kitchen has wood-burning fireplace, crown molding, hardwood floors. Kitchen has large island with counter seating, granite and quartz counters. Renovated full baths and an added half bath. Larger bedroom has walk-in closet, stack washer/dryer, large bathroom. 2nd bedroom has built-in Murphy bed & attached full bath. Side porch, access to fenced back yard & patio. Currently rents for $3,500 per month. Unit #2: (second floor) 2 bedrooms, 1.5 baths, entry fronts Grove, wood-burning fireplace, open-concept living/kitchen area (with fireplace). Large eat-in kitchen with center island, gas cooking, refrigerator, dishwasher, beverage refrigerator. 2 bedrooms, both equipped with built-in Murphy beds. California closets. Shared full bath between bedrooms, & half bath. New hot water heater. Stack washer/dryer. Side balcony overlooking Seneca. Typically rents for $3,000 per month. Overall property enhancements include:new rear patio, privacy fencing, new landscaping, new custom storm doors/front doors per unit, new irrigation system, insulated replacement windows, California closets, separate utility metering for each unit, off-street parking added, new brick walkways at front & side of property, dehumidifier in crawlspace, designer lighting in both units, plantation shutters added, hardwood floors refinished, interior/exterior painted. Interiors have new baths, kitchens and have been renovated fully with newer HVAC, newer half baths, hot water heaters. Very unique opportunity!
Getting Around
Very Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1938
Materials
- Roof: Slate
- Construction materials: Brick
Type & Style
- Home type: MultiFamily
- Architectural style: Colonial,Two Story
- Property subType: Duplex,Multi Family,Multi Family
Interior
Basement
- Has basement: Yes
- Basement: Unfinished
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 5
Features
- Eat-in Kitchen,Fireplace,Granite Counters,Bath in Primary Bedroom,Main Level Primary,Walk-In Closet(s)
- Fireplace: Yes
- Attic: Access Only
Interior Area
- Total interior livable area: 2,292 sqft
Property
Details
- Parcel number: W0200159020
- Zoning description: R-4
Features
- Levels: Two
- Stories: 2
- Patio & porch: Balcony,Front Porch,Side Porch
- Exterior features: Sprinkler/Irrigation
- Fencing: Back Yard,Fenced,Privacy
Lot
- Lot size: 6,364 sqft
Parking
- Parking features: Off Street
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
No climate risk data available.
How This Home’s Risks Compare
FEMA Declared Disasters Across Virginia Counties
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
| Monthly | Annual | |
|---|---|---|
| Mortgage | $5,815 | $69,780 |
| Home Insurance * | $362 | $4,344 |
| Property Taxes | $1,141 | $13,692 |
| Electricity | $220 | $2,649 |
| Total | $7,538 | $90,456 |
Income You'd Need if You Spent...
Virginia FAIR Plan Programs
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.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-06 | Price change | $1,095,000 |
| 2026-07-01 | Price change | $1,150,000 |
| 2026-06-19 | Listed for sale | $1,195,000 |
| 2026-01-15 | Listing removed | $2,895 |
| 2025-10-22 | Price change | $2,895 |
| 2025-10-09 | Listed for rent | $3,295 |
| 2022-05-05 | Sold | $795,000 |
| 2022-04-04 | Pending sale | $778,000 |
| 2022-03-31 | Listed for sale | $778,000 |
| 2017-06-15 | Listing removed | $1,175 |
| 2017-06-06 | Listed for rent | $1,175 |
| 2002-07-09 | Sold | $260,000 |
| 1996-02-01 | Sold | $170,000 |
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