Residential Income Property with
For Sale
$649,900
1401 N RHODES STREET Unit 301, Arlington, VA 22209
One-level condominium residence with updated baths, assigned covered parking, and an oversized private balcony.
Property Size1,314 SF
Price / SF$494.60
Days on Market27
Property Features for 1401 N RHODES STREET Unit 301
General Information
Standard status
Active
Size
1,314 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,398
Amenities
balcony
community room
bike storage
Building Details
Building Size
1,314 SF
Year Built
1974
Listing Agency:
Samson Properties
(703) 405-7557
Listed By:
Maria Princi · License #0225061223
(703) 405-7557
Source:
Kwcapitalproperties
Added: Jul 10
Changed: Aug 4
Last Checked: Aug 5 at 4:48AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This one-level condominium residence at the Corinthian offers 1314 sq. ft. with two bedrooms plus a den or potential third bedroom. The interior includes a large living area, separate dining space, floor-to-ceiling energy-efficient windows, new LVP flooring, two large walk-in closets, linen and coat storage, updated baths, a newer stackable washer/dryer, newer HVAC, and a new hot water heater. An oversized balcony accommodates table seating and an urban garden. Covered assigned parking and a storage unit convey with the residence.
The building provides four guest parking spaces, a community room, and bike storage. The property is two blocks downhill from Rosslyn Metro and 1.5 blocks downhill from Courthouse Metro. Whole Foods, Trader Joe’s, Safeway, coffee, dining, and shopping are nearby, while Georgetown is accessible by a short walk across the Key Bridge.
The building provides four guest parking spaces, a community room, and bike storage. The property is two blocks downhill from Rosslyn Metro and 1.5 blocks downhill from Courthouse Metro. Whole Foods, Trader Joe’s, Safeway, coffee, dining, and shopping are nearby, while Georgetown is accessible by a short walk across the Key Bridge.
Key Highlights
- 1314 sq. ft. one‑level condominium residence
- Two bedrooms plus den or 3rd bedroom
- Oversized balcony with room for table seating and an urban garden
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.8k | $28.80 |
| − Vacancy | −$1.9k | −$1.44 |
| EGI | $36.0k | $27.36 |
| − OpEx | −$16.2k | −$12.31 |
| NOI | $19.8k | $15.05 |
1,314 SF · lease $28.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$282.5K
$247.2K – $329.6K
NOI $19,773 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$729.8K
$638.6K – $851.5K
NOI $51,088 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,982
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-level condominium residence with updated baths, assigned covered parking, and an oversized private balcony.
Where is this residential income property located?
The property is located at 1401 N RHODES STREET Unit 301 Arlington, VA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 1314 sq. ft. one‑level condominium residence; Two bedrooms plus den or 3rd bedroom; Oversized balcony with room for table seating and an urban garden
