Residential Income Property with
For Sale
$539,000
181 E REED AVENUE Unit 203, Alexandria, VA 22305
The two-bedroom condominium has a split-bedroom arrangement, in-unit laundry, assigned garage parking, and a private outdoor space.
Property Size1,055 SF
Price / SF$510.90
Days on Market133
Property Features for 181 E REED AVENUE Unit 203
General Information
Standard status
Active
Size
1,055 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Potomac Yard/Potomac Greens
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,586
Amenities
private balcony
lobby
community room
exercise room
roof top deck
laundry in unit
extra storage
Building Details
Building Size
1,055 SF
Year Built
2003
Listing Agency:
Corcoran McEnearney
Listed By:
Julia S Martin · License #0225122427
(703) 850-5543
Source:
Irvinrealtyllc
Added: Jun 18
Changed: Oct 27
Last Checked: Oct 26 at 8:15PM
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 Corcoran McEnearney
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,055-square-foot condominium, built in 2003, contains two bedrooms and two bathrooms arranged in a split-bedroom plan. Interior features include hardwood flooring, crown molding, high ceilings, a kitchen island, granite counters, stainless appliances, and a primary suite with two closets. A private balcony, in-unit laundry, assigned garage parking, and additional storage are also included.
The property is in Potomac Yard, approximately one mile from the Metro. Building amenities include a lobby, community room, exercise room, elevators, garage, and rooftop deck, with views of the Washington Monument and Capitol from the deck. Shopping, dining, parks, trails, Old Town Alexandria, National Landing, and Washington, DC are noted in the surrounding area.
The property is in Potomac Yard, approximately one mile from the Metro. Building amenities include a lobby, community room, exercise room, elevators, garage, and rooftop deck, with views of the Washington Monument and Capitol from the deck. Shopping, dining, parks, trails, Old Town Alexandria, National Landing, and Washington, DC are noted in the surrounding area.
Key Highlights
- 1,055‑square‑foot, two‑bedroom, two‑bath condominium
- Split‑bedroom floor plan
- Private balcony, in‑unit laundry, assigned garage parking, and extra storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,172
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,440
$323.4K
Cap Rate 7%
$231,029
$231.0K
Cap Rate 9%
$179,689
$179.7K
Market Conditions
NOI Build-Up for 1,055 SF
Gross rent
$31.0K $29.40/SF
− Vacancy
−$1.6K −$1.53/SF
EGI
$29.4K $27.87/SF
− OpEx
−$13.2K −$12.54/SF
NOI
$16.2K $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%
$323,440
Cap Rate 7%
$231,029
Cap Rate 9%
$179,689
Alternative Uses
Best Use
Apartment 5plus
$231.0K
$202.2K – $269.5K
NOI $16,172 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$586.0K
$512.7K – $683.6K
NOI $41,018 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom condominium has a split-bedroom arrangement, in-unit laundry, assigned garage parking, and a private outdoor space.
Where is this residential income property located?
The property is located at 181 E REED AVENUE Unit 203 Alexandria, VA.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: 1,055‑square‑foot, two‑bedroom, two‑bath condominium; Split‑bedroom floor plan; Private balcony, in‑unit laundry, assigned garage parking, and extra storage
