Remodeled One-Bedroom Income
For Sale
$349,500
203 YOAKUM PARKWAY Unit 1004, Alexandria, VA 22304
Updated one-bedroom residence with a balcony, assigned parking, and access to extensive indoor and outdoor amenities.
Property Size986 SF
Days on Market151
Property Features for 203 YOAKUM PARKWAY Unit 1004
General Information
Standard status
Active
Size
986 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$3,342
Building Details
Building Size
986 SF
Year Built
1975
Listing Agency:
Jobin Realty
Listed By:
Susan G Day · License #0225051394
(703) 628-5387
Source:
Dcmetrorealtyteam
Added: Apr 12
Changed: Sep 5
Last Checked: Sep 8 at 11:37AM
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 Jobin Realty
Investment Insights
Based on property information with market context.
This updated one-bedroom, one-bath residential income property occupies a high floor and includes a 12-foot balcony door with city views. The remodeled interior features a galley kitchen, oversized pantry, side-by-side refrigerator, coordinating laundry center, luxury vinyl plank flooring in the living, dining, and bedroom areas, and ceramic tile in the kitchen and bath. The bathroom includes a stall shower, lighted mirror, large vanity, drawers, and quartz countertop. Quality HVAC equipment is installed, and double-pane windows were added when the windows and balcony door were replaced about 7 years ago.
The property includes one dedicated parking space, Parking Space 155, along with two parking passes for the residence and guest passes as needed. The monthly assessment covers electricity, gas, water, sewer, garbage, building antenna service, master insurance, and use of the amenities. Indoor facilities include pools, sauna, hot tub, fitness center, library, games, lounge, market, and salon, with tunnel access to the management office and Town Square.
Additional community features include outdoor pools, tennis courts, pickleball, racquet facilities, gazebos, a jogging trail over one mile long, gated and guarded access, and full-time patrol services. The property consists of 37 fenced acres with over 2000 parking spaces.
The property includes one dedicated parking space, Parking Space 155, along with two parking passes for the residence and guest passes as needed. The monthly assessment covers electricity, gas, water, sewer, garbage, building antenna service, master insurance, and use of the amenities. Indoor facilities include pools, sauna, hot tub, fitness center, library, games, lounge, market, and salon, with tunnel access to the management office and Town Square.
Additional community features include outdoor pools, tennis courts, pickleball, racquet facilities, gazebos, a jogging trail over one mile long, gated and guarded access, and full-time patrol services. The property consists of 37 fenced acres with over 2000 parking spaces.
Key Highlights
- Updated one‑bedroom, one‑bath interior with luxury vinyl plank flooring
- 12‑foot balcony door with city views from a high floor
- Dedicated Parking Space 155 at Building 1
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
$15,115
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
4.32%
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%
$302,300
$302.3K
Cap Rate 7%
$215,929
$215.9K
Cap Rate 9%
$167,944
$167.9K
Market Conditions
NOI Build-Up for 986 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
$29.0K $29.40/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$27.5K $27.87/SF
− OpEx
−$12.4K −$12.54/SF
NOI
$15.1K $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%
$302,300
Cap Rate 7%
$215,929
Cap Rate 9%
$167,944
Alternative Uses
Best Use
Apartment 5plus
$215.9K
$188.9K – $251.9K
NOI $15,115 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$547.7K
$479.2K – $638.9K
NOI $38,336 @ 7.0% cap · market cap 10.97%
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
1,582
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 - Updated one-bedroom residence with a balcony, assigned parking, and access to extensive indoor and outdoor amenities.
Where is this residential income property located?
The property is located at 203 YOAKUM PARKWAY Unit 1004 Alexandria, VA.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: Updated one‑bedroom, one‑bath interior with luxury vinyl plank flooring; 12‑foot balcony door with city views from a high floor; Dedicated Parking Space 155 at Building 1
