Updated Two-Bedroom Income
For Sale
$345,000
1301 N ODE STREET Unit 114, Arlington, VA 22209
Renovated condo with dedicated parking, storage, and convenient access to Rosslyn amenities and Metro service.
Property Size783 SF
Price / SF$440.61
Days on Market129
Property Features for 1301 N ODE STREET Unit 114
General Information
Standard status
Active
Size
783 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Parking per Unit
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,629
Amenities
separate storage unit
community laundry room
bike storage
Building Details
Building Size
783 SF
Year Built
1947
Listing Agency:
Gaja Realty
Listed By:
Selvathambi Gangadhar · License #0225257513
(703) 347-4978
Source:
Kwcapitalproperties
Added: May 15
Changed: Sep 17
Last Checked: Sep 19 at 12:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gaja Realty
Investment Insights
Based on property information with market context.
This 783-square-foot, two-bedroom condominium includes a renovated kitchen with stainless steel appliances and quartz countertops, hardwood flooring, an updated bathroom, and new light fixtures. A separate dining room complements the naturally bright living room, while updated paint and a new HVAC system installed in 2022 support the refreshed interior. The property was built in 1947.
Additional building amenities include a private storage unit, community laundry room, and bike storage. Two off-street parking spaces are included. The home is located near Rosslyn restaurants and shops, National Landing, Georgetown, major roads, and Washington, DC, with Metro service 0.8 miles away.
Additional building amenities include a private storage unit, community laundry room, and bike storage. Two off-street parking spaces are included. The home is located near Rosslyn restaurants and shops, National Landing, Georgetown, major roads, and Washington, DC, with Metro service 0.8 miles away.
Key Highlights
- 783‑square‑foot two‑bedroom condominium
- Kitchen with stainless steel appliances and quartz countertops
- New HVAC installed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,783
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$235,660
$235.7K
Cap Rate 7%
$168,329
$168.3K
Cap Rate 9%
$130,922
$130.9K
Market Conditions
NOI Build-Up for 783 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.6K $28.80/SF
− Vacancy
−$1.1K −$1.44/SF
EGI
$21.4K $27.36/SF
− OpEx
−$9.6K −$12.31/SF
NOI
$11.8K $15.05/SF
Area
Arlington, VA
Vacancy
5.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$235,660
Cap Rate 7%
$168,329
Cap Rate 9%
$130,922
Alternative Uses
Best Use
Apartment 5plus
$168.3K
$147.3K – $196.4K
NOI $11,783 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$434.9K
$380.5K – $507.4K
NOI $30,443 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 22209, VA
14,859
Population
9,261
Households
1.6
Avg Household Size
33
Median Age
86%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
21,227
Density / Sq Mi
$110,824
Median Household Income
$83,221
Median Earnings
$2,171
Median Rent
$799,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated condo with dedicated parking, storage, and convenient access to Rosslyn amenities and Metro service.
Where is this residential income property located?
The property is located at 1301 N ODE STREET Unit 114 Arlington, VA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 783‑square‑foot two‑bedroom condominium; Kitchen with stainless steel appliances and quartz countertops; New HVAC installed in 2022
