Two-Bedroom Garden-Style
181 E REED AVENUE Unit 109, Alexandria, VA 22305
For Sale
$549,900
A private deck with street-level stairs provides direct outdoor access from the residence.
Property Size1,204 SF
Price / SF$456.73
Days on Market50
Property Features for 181 E REED AVENUE Unit 109
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Parking per Unit
Taxes and HOA fees
Annual Taxes
Amenities
fitness center
billiard/party room
rooftop terrace
in-unit laundry
deck
secure storage
Building Details
Building Size
Year Built
Construction
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
Listed By:
Linda K Thompson · License VA #0226005324
(703) 850-5676
Source:
Kerishull
Added: Sep 22
Changed: Nov 7
Last Checked: Nov 8 at 2:20PM
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 Berkshire Hathaway HomeServices PenFed Realty
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Investment Insights
Based on property information with market context.
This 1,204-square-foot residence, built in 2003, has two bedrooms and two bathrooms. Its open living, dining, and kitchen areas connect to a private deck with stairs leading to street level. The galley kitchen includes granite countertops, stainless steel appliances, a gas range, dishwasher, and built-in microwave. Hardwood floors, recessed lighting, double-pane windows, and in-unit laundry are also included. The primary bedroom has a walk-in closet and an en-suite bath; the second bedroom has a corner closet.
Community amenities include a fitness center, billiard and party room, rooftop terrace, secure storage, and two assigned garage parking spaces. The property is near a metro station, bus stops, parks, shopping, dining, and entertainment.
Community amenities include a fitness center, billiard and party room, rooftop terrace, secure storage, and two assigned garage parking spaces. The property is near a metro station, bus stops, parks, shopping, dining, and entertainment.
Key Highlights
- 1,204‑square‑foot residence built in 2003
- Two bedrooms and two bathrooms
- Private deck with stairs to street level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,456
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,120
$369.1K
Cap Rate 7%
$263,657
$263.7K
Cap Rate 9%
$205,067
$205.1K
Market Conditions
NOI Build-Up for 1,204 SF
Gross rent
$35.4K $29.40/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$33.6K $27.87/SF
− OpEx
−$15.1K −$12.54/SF
NOI
$18.5K $15.33/SF
Area
Alexandria, VA
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,120
Cap Rate 7%
$263,657
Cap Rate 9%
$205,067
Alternative Uses
Best Use
Apartment 5plus
$263.7K
$230.7K – $307.6K
NOI $18,456 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$668.7K
$585.2K – $780.2K
NOI $46,812 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
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Business Placement
Demographics for 22305, VA
17,849
Population
8,028
Households
2.2
Avg Household Size
34
Median Age
59%
College-Educated
83%
High-School Grad
1.3 sq mi
ZIP Area
13,730
Density / Sq Mi
$109,124
Median Household Income
$64,012
Median Earnings
$1,902
Median Rent
$817,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A private deck with street-level stairs provides direct outdoor access from the residence.
Where is this residential income property located?
The property is located at 181 E REED AVENUE Unit 109 Alexandria, VA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 1,204‑square‑foot residence built in 2003; Two bedrooms and two bathrooms; Private deck with stairs to street level
