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2218/2220 M St, Richmond, VA, 23223

5beds
4baths
2,943sqft
$749,000
$255price/sqft
$4,937/moest. monthly cost
$197,480/yrincome needed

About This Home

Located at 2218-2220 M Street in the heart of Richmond’s highly desirable Union Hill neighborhood, this fully renovated side-by-side duplex presents a rare opportunity to acquire a turnkey investment in one of the City’s strongest rental and resale markets. Encompassing approximately 2,943 square feet, the property features an attractive unit mix of one 2-bedroom, 2-bathroom residence and one 3-bedroom, 1.5-bathroom residence, both renovated to an exceptional standard back in 2022 with quality finishes and modern systems. Investors will appreciate the property’s strong in-place rental potential, while its oversized lot offers additional value through future expansion, accessory dwelling units, or potential redevelopment, subject to applicable approvals. The layout also presents a unique opportunity to subdivide and reintroduce the residences to the market as individual for-sale homes, creating multiple avenues for future appreciation and exit strategies. Positioned just steps from the vibrant intersection of 25th and M Streets, the property enjoys one of Union Hill’s most walkable and sought-after locations. Residents are within easy walking distance of neighborhood favorites including Sub Rosa Bakery, Union Market, Metzger, Kahlo’s Taqueria, and Fat Rabbit, while remaining just minutes from downtown Richmond, the MCV campus, and convenient I-95 and I-64 access. Whether purchased as a long-term hold, value-add investment, or future condominium or single-family conversion opportunity, 2218–2220 M Street offers a compelling combination of quality renovations, outstanding location, and long-term upside that is increasingly difficult to find in Richmond’s historic urban neighborhoods.

Getting Around

56
WalkingSomewhat Walkable
40
TransitSome Transit
43
BikeSomewhat Bikeable

Schools

3/10
2/10
Armstrong High SchoolGrades 9-121.6 mi

Construction

Condition

  • Year built: 1910

Materials

  • Roof: Composition,Flat
  • Construction materials: Frame,HardiPlank Type,Wood Siding

Type & Style

  • Home type: Townhouse
  • Architectural style: Colonial,Row House,Two Story
  • Property subType: Townhouse,Duplex,Multi Family,Multi Family,Single Family Residence

Interior

Bedrooms & Bathrooms

  • Bedrooms: 5
  • Bathrooms: 4

Features

  • Attic: None

Interior Area

  • Total interior livable area: 2,943 sqft

Property

Details

  • Parcel number: E0000331053
  • Zoning description: R-63

Features

  • Levels: Two
  • Stories: 2

Lot

  • Lot size: 3,075 sqft

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

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 $3,787$45,444
Home Insurance *$306$3,672
Property Taxes $561$6,732
Electricity $283$3,401
Total$4,937$59,244
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$169,268/yr
40% on housing$148,110/yr
45% on housing$131,653/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

$255This listing

vs Other Active Listings

Avg $/sqft

ZIP 23223$174
Richmond City$217

vs Homes Sold Last Month

Median $/sqft

ZIP 23223$219
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)

Price History

DateEventPrice
2026-07-10Listed for sale$749,000
2023-09-19Sold$630,000
2023-08-18Pending sale$639,999
2023-08-15Price change$639,999
2023-08-07Price change$654,999
2023-07-24Price change$674,999
2023-07-10Price change$699,999
2023-07-07Listed for sale$724,999
2022-09-23Sold$300,000
2022-08-19Pending sale$329,000
2022-06-28Price change$329,000
2022-06-14Listed for sale$345,000

For Sale by Agent

AgentAnn Schweitzer
BrokerageOne South Commercial LLC

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