Updated 2-Bedroom Income
New
For Sale
$365,000
1322 FORT MYER DRIVE Unit 924, Arlington, VA 22209
Light-filled home with hardwood floors, two parking spaces, storage, and building laundry near retail, dining, parks, and transit.
Property Size783 SF
Price / SF$466.16
Days on Market5
Property Features for 1322 FORT MYER DRIVE Unit 924
General Information
Standard status
Active
Size
783 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
2BR/1BA
Multifamily Units
1
Parking per Unit
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,629
Amenities
laundry
storage
Building Details
Building Size
783 SF
Year Built
1947
Listing Agency:
Weichert, REALTORS
Listed By:
Lisa M Koch · License #0225099347
(703) 801-7156
Source:
Kwcapitalproperties
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 12 at 7:57AM
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 Weichert, REALTORS
Investment Insights
Based on property information with market context.
This 783-square-foot residential income property includes two bedrooms and one bathroom in a 1947 building. The interior has been updated and freshly painted, with hardwood flooring, a spacious living room, separate dining area, entryway, walk-in closet, and a kitchen with extensive storage. The unit also includes two parking spaces, while additional storage and laundry are located in the building.
The property is in Arlington’s Rosslyn neighborhood, 0.5 miles from the Rosslyn Metro, 0.7 miles from the Courthouse Metro, and 1 mile from Georgetown. Shops, restaurants, parks, and Washington, DC are also nearby.
The property is in Arlington’s Rosslyn neighborhood, 0.5 miles from the Rosslyn Metro, 0.7 miles from the Courthouse Metro, and 1 mile from Georgetown. Shops, restaurants, parks, and Washington, DC are also nearby.
Key Highlights
- 783 square feet with two bedrooms and one bathroom
- Updated interior with fresh paint and hardwood floors
- Kitchen includes substantial storage and a separate dining area
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
3.23%
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 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$434.9K
$380.5K – $507.4K
NOI $30,443 @ 7.0% cap · market cap 8.34%
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 - Light-filled home with hardwood floors, two parking spaces, storage, and building laundry near retail, dining, parks, and transit.
Where is this residential income property located?
The property is located at 1322 FORT MYER DRIVE Unit 924 Arlington, VA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 783 square feet with two bedrooms and one bathroom; Updated interior with fresh paint and hardwood floors; Kitchen includes substantial storage and a separate dining area
