One-Bedroom Residential Income
New
For Sale
$179,900
21 CANTERBURY SQUARE Unit 102, Alexandria, VA 22304
Updated bath, dual walk-in closets, and a private patio support practical everyday living.
Property Size565 SF
Days on Market7
Property Features for 21 CANTERBURY SQUARE Unit 102
General Information
Standard status
Active
Size
565 SF
Property subtype
Penthouse Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1,822
Building Details
Building Size
565 SF
Year Built
1965
Listing Agency:
Samson Properties
Listed By:
Robert J Chew · License #0225277244
(410) 995-9600
Source:
Dcmetrorealtyteam
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 22 at 11:20PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This 1-bedroom, 1-bath condominium at 21 Canterbury Square Unit 102 offers a functional interior with abundant natural light, ample storage, and an updated bathroom. The bedroom includes two walk-in closets, while sliding glass doors open to a private patio. Built in 1965, the residence also places the laundry room on the same level, just outside the unit.
The property conveys with two unassigned resident parking stickers and one visitor's pass. Its Alexandria setting provides access to shopping, dining, parks, commuter routes, and everyday amenities, supporting convenient residential use.
The property conveys with two unassigned resident parking stickers and one visitor's pass. Its Alexandria setting provides access to shopping, dining, parks, commuter routes, and everyday amenities, supporting convenient residential use.
Key Highlights
- 1‑bedroom, 1‑bath condominium at 21 Canterbury Square Unit 102
- Updated bathroom and two walk‑in closets
- Sliding glass doors open to a private patio
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
$8,661
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
4.81%
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%
$173,220
$173.2K
Cap Rate 7%
$123,729
$123.7K
Cap Rate 9%
$96,233
$96.2K
Market Conditions
NOI Build-Up for 565 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
$16.6K $29.40/SF
− Vacancy
−$864 −$1.53/SF
EGI
$15.7K $27.87/SF
− OpEx
−$7.1K −$12.54/SF
NOI
$8.7K $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 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%
$173,220
Cap Rate 7%
$123,729
Cap Rate 9%
$96,233
Alternative Uses
Best Use
Apartment 5plus
$123.7K
$108.3K – $144.4K
NOI $8,661 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$313.8K
$274.6K – $366.1K
NOI $21,967 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,253
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated bath, dual walk-in closets, and a private patio support practical everyday living.
Where is this residential income property located?
The property is located at 21 CANTERBURY SQUARE Unit 102 Alexandria, VA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 1‑bedroom, 1‑bath condominium at 21 Canterbury Square Unit 102; Updated bathroom and two walk‑in closets; Sliding glass doors open to a private patio
