Two-Bedroom Apartment with
For Sale
$294,900
200 N PICKETT STREET N Unit 1513, Alexandria, VA 22304
Fresh windows, in-unit laundry, and community amenities add practical appeal for residential ownership.
Property Size1,160 SF
Days on Market83
Property Features for 200 N PICKETT STREET N Unit 1513
General Information
Standard status
Active
Size
1,160 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,284
Amenities
pool
fitness center
tennis courts
community center
in-unit laundry
private balcony
Building Details
Building Size
1,160 SF
Year Built
1975
Listing Agency:
Service First Realty Corp
(703) 864-8877
Listed By:
Khalid M Fahimi · License #0225042755
(703) 864-8877
Source:
Dcmetrorealtyteam
Added: Jun 5
Changed: Aug 23
Last Checked: Aug 25 at 12:08PM
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 Service First Realty Corp
Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom apartment in the Hallmark community combines a refreshed interior with practical residential features. Improvements include fresh paint, new windows, a new sliding glass door, and a new washer and dryer. The open layout incorporates hardwood floors, an eat-in kitchen with upgraded countertops, and a comfortable living area. In-unit laundry, a walk-in closet, and a private balcony with city views add everyday functionality.
Community amenities include a pool, fitness center, tennis courts, and community center. Public transportation is readily accessible from the suburban setting. Association fees cover maintenance and amenities. Built in 1975, the apartment is located at 200 N Pickett Street N, Unit 1513, Alexandria, VA 22304.
Community amenities include a pool, fitness center, tennis courts, and community center. Public transportation is readily accessible from the suburban setting. Association fees cover maintenance and amenities. Built in 1975, the apartment is located at 200 N Pickett Street N, Unit 1513, Alexandria, VA 22304.
Key Highlights
- Two‑bedroom, two‑bathroom apartment in the Hallmark community
- Fresh paint, new windows, and new sliding glass door
- New washer and dryer with in‑unit laundry
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
$17,782
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
6.03%
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%
$355,640
$355.6K
Cap Rate 7%
$254,029
$254.0K
Cap Rate 9%
$197,578
$197.6K
Market Conditions
NOI Build-Up for 1,160 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
$34.1K $29.40/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$32.3K $27.87/SF
− OpEx
−$14.5K −$12.54/SF
NOI
$17.8K $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 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%
$355,640
Cap Rate 7%
$254,029
Cap Rate 9%
$197,578
Alternative Uses
Best Use
Apartment 5plus
$254.0K
$222.3K – $296.4K
NOI $17,782 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$644.3K
$563.8K – $751.7K
NOI $45,101 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 22304, VA
49,237
Population
24,654
Households
2
Avg Household Size
37
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
10,258
Density / Sq Mi
$97,629
Median Household Income
$64,929
Median Earnings
$1,934
Median Rent
$496,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Fresh windows, in-unit laundry, and community amenities add practical appeal for residential ownership.
Where is this residential income property located?
The property is located at 200 N PICKETT STREET N Unit 1513 Alexandria, VA.
What is the asking price?
The asking price for this property is $294,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom apartment in the Hallmark community; Fresh paint, new windows, and new sliding glass door; New washer and dryer with in‑unit laundry
