Three-Bedroom Residential Income
New
For Sale
$885,000
2181 JAMIESON AVENUE Unit 805, Alexandria, VA 22314
Updated condo with a private sunroom, garage parking, storage units, and access to extensive community amenities.
Property Size1,745 SF
Price / SF$507.16
Days on Market4
Property Features for 2181 JAMIESON AVENUE Unit 805
General Information
Standard status
Active
Size
1,745 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,483
Amenities
fitness center
rooftop greens
pickleball
pool
sauna
dog park
shuttle
Building Details
Building Size
1,745 SF
Year Built
2001
Listing Agency:
Corcoran McEnearney
Listed By:
Lisa Groover · License #0225214782
(703) 919-4426
Source:
Kerishull
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 18 at 2:44PM
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 Corcoran McEnearney
Investment Insights
Based on property information with market context.
This updated residential income property is a 1,745-square-foot condominium with three bedrooms and two-and-a-half baths. The home includes a private sunroom, hardwood floors, updated bathrooms, an in-unit washer and dryer, and a guest powder room. Its kitchen features granite countertops, new stainless-steel appliances, extensive cabinetry, an eat-in area, and a pass-through to the living space. Two primary suites provide additional closet space, while the third bedroom offers flexible room for guests, work, or recreation.
The property also includes two private storage units and a secure garage parking space. Community amenities include a fitness center, rooftop putting greens, pickleball courts, pool, sauna, dog park, and planned resident activities. The Metro is four blocks away, with eateries, cafes, parks, shops, restaurants, and services nearby. An AM/PM shuttle to Metro is also available. Built in 2001, the residence offers city views and access to the amenities and services of Carlyle Towers.
The property also includes two private storage units and a secure garage parking space. Community amenities include a fitness center, rooftop putting greens, pickleball courts, pool, sauna, dog park, and planned resident activities. The Metro is four blocks away, with eateries, cafes, parks, shops, restaurants, and services nearby. An AM/PM shuttle to Metro is also available. Built in 2001, the residence offers city views and access to the amenities and services of Carlyle Towers.
Key Highlights
- 1,745‑square‑foot condominium with three bedrooms and two‑and‑a‑half baths
- Private sunroom, hardwood floors, updated baths, and in‑unit washer and dryer
- Kitchen with granite countertops and new stainless‑steel appliances
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
$26,749
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
3.02%
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%
$534,980
$535.0K
Cap Rate 7%
$382,129
$382.1K
Cap Rate 9%
$297,211
$297.2K
Market Conditions
NOI Build-Up for 1,745 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
$51.3K $29.40/SF
− Vacancy
−$2.7K −$1.53/SF
EGI
$48.6K $27.87/SF
− OpEx
−$21.9K −$12.54/SF
NOI
$26.7K $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%
$534,980
Cap Rate 7%
$382,129
Cap Rate 9%
$297,211
Alternative Uses
Best Use
Apartment 5plus
$382.1K
$334.4K – $445.8K
NOI $26,749 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$969.2K
$848.1K – $1.13M
NOI $67,846 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,497
Businesses Nearby
Explore this area
Business Placement
Demographics for 22314, VA
35,784
Population
21,154
Households
1.7
Avg Household Size
39
Median Age
79%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,671
Density / Sq Mi
$144,359
Median Household Income
$98,121
Median Earnings
$2,312
Median Rent
$856,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with a private sunroom, garage parking, storage units, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 2181 JAMIESON AVENUE Unit 805 Alexandria, VA.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: 1,745‑square‑foot condominium with three bedrooms and two‑and‑a‑half baths; Private sunroom, hardwood floors, updated baths, and in‑unit washer and dryer; Kitchen with granite countertops and new stainless‑steel appliances
