Updated Residential Income Property with
For Sale
$500,000
181 REED AVENUE E Unit 110, Alexandria, VA 22305
Two-bedroom condo with an open kitchen, private balcony, assigned garage parking, and access to extensive building amenities.
Property Size1,220 SF
Price / SF$409.84
Days on Market88
Property Features for 181 REED AVENUE E Unit 110
General Information
Standard status
Active
Size
1,220 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,705
Amenities
fitness center
community room
rooftop terrace
in-unit washer/dryer
assigned garage parking
private balcony
Building Details
Building Size
1,220 SF
Year Built
2005
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Melissa Terzis · License #0225196541
(202) 253-9105
Source:
Kerishull
Added: Jul 25
Changed: Oct 9
Last Checked: Oct 19 at 4:44PM
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 TTR Sotheby's International Realty
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 1,122-square-foot residential income property is a 2-bedroom, 2-bath condominium built in 2003. The roommate-style floor plan separates the bedrooms for added privacy, while hardwood flooring extends through the main living areas. The renovated kitchen features quartz countertops, waterfall edges, a quartz backsplash, stainless steel appliances, and a large island. The living and dining areas open to a private balcony overlooking the courtyard. The unit also includes a primary suite with a walk-in closet, an updated en-suite bath, and an in-unit washer/dryer.
Assigned garage parking accompanies the residence. Building amenities include a fitness center, community room, and rooftop terrace with views of Washington, DC and the surrounding Virginia suburbs. The property is in Alexandria's Potomac Yard neighborhood, near shopping, dining, Metro access, Del Ray, Old Town, National Airport, Amazon HQ2, Virginia Tech's Innovation Campus, and commuter routes serving DC and Arlington.
Assigned garage parking accompanies the residence. Building amenities include a fitness center, community room, and rooftop terrace with views of Washington, DC and the surrounding Virginia suburbs. The property is in Alexandria's Potomac Yard neighborhood, near shopping, dining, Metro access, Del Ray, Old Town, National Airport, Amazon HQ2, Virginia Tech's Innovation Campus, and commuter routes serving DC and Arlington.
Key Highlights
- 1,122‑square‑foot 2‑bedroom, 2‑bath condominium
- Roommate‑style layout with bedrooms positioned on opposite sides of the residence
- Renovated kitchen with quartz surfaces, stainless steel appliances, and large island
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,702
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,040
$374.0K
Cap Rate 7%
$267,171
$267.2K
Cap Rate 9%
$207,800
$207.8K
Market Conditions
NOI Build-Up for 1,220 SF
Gross rent
$35.9K $29.40/SF
− Vacancy
−$1.9K −$1.53/SF
EGI
$34.0K $27.87/SF
− OpEx
−$15.3K −$12.54/SF
NOI
$18.7K $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%
$374,040
Cap Rate 7%
$267,171
Cap Rate 9%
$207,800
Alternative Uses
Best Use
Apartment 5plus
$267.2K
$233.8K – $311.7K
NOI $18,702 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$677.6K
$592.9K – $790.6K
NOI $47,434 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
1
Residential units
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 - Two-bedroom condo with an open kitchen, private balcony, assigned garage parking, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 181 REED AVENUE E Unit 110 Alexandria, VA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,122‑square‑foot 2‑bedroom, 2‑bath condominium; Roommate‑style layout with bedrooms positioned on opposite sides of the residence; Renovated kitchen with quartz surfaces, stainless steel appliances, and large island
