Updated Two-Bedroom
For Sale
$189,000
Pending
2305 FARRINGTON AVENUE Unit 203, Alexandria, VA 22303
A renovated kitchen and bathroom complement hardwood floors, climate control, and an in-unit washer and dryer.
Property Size600 SF
Days on Market48
Property Features for 2305 FARRINGTON AVENUE Unit 203
General Information
Standard status
Pending
Size
600 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Eisenhower East
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,761
Building Details
Building Size
600 SF
Year Built
1950
Listing Agency:
Compass
Listed By:
Horse Farms & Country Homes
(703) 966-9480
Source:
Horsefarmsandcountryhomes
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 26 at 3:45PM
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 Compass
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Investment Insights
Based on property information with market context.
This two-bedroom condominium in Farrington Place has a renovated kitchen and bathroom, hardwood floors, and a GE mini-split system for heating and cooling. A washer and dryer are located inside the unit. The building dates to 1950.
Huntington Metro is across the street. The property also has access to I-495, I-95, I-395, the Woodrow Wilson Bridge, National Airport, the Pentagon, and Washington, DC. Farrington Playground and Huntington Park Trails are within walking distance; retail, dining, movie theaters, and Old Town Alexandria are a short drive away.
Parking includes three passes, with open spaces in the lot and additional street parking. The condo fee covers community maintenance, gas, water, and sewer.
Huntington Metro is across the street. The property also has access to I-495, I-95, I-395, the Woodrow Wilson Bridge, National Airport, the Pentagon, and Washington, DC. Farrington Playground and Huntington Park Trails are within walking distance; retail, dining, movie theaters, and Old Town Alexandria are a short drive away.
Parking includes three passes, with open spaces in the lot and additional street parking. The condo fee covers community maintenance, gas, water, and sewer.
Key Highlights
- Two‑bedroom condominium in Farrington Place
- Renovated kitchen and bathroom, hardwood floors, and in‑unit laundry
- GE mini‑split heating and cooling system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,197
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$183,940
$183.9K
Cap Rate 7%
$131,386
$131.4K
Cap Rate 9%
$102,189
$102.2K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$17.6K $29.40/SF
− Vacancy
−$917 −$1.53/SF
EGI
$16.7K $27.87/SF
− OpEx
−$7.5K −$12.54/SF
NOI
$9.2K $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%
$183,940
Cap Rate 7%
$131,386
Cap Rate 9%
$102,189
Alternative Uses
Best Use
Apartment 5plus
$131.4K
$115.0K – $153.3K
NOI $9,197 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$333.3K
$291.6K – $388.8K
NOI $23,328 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 22303, VA
16,109
Population
8,669
Households
1.9
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
1.9 sq mi
ZIP Area
8,478
Density / Sq Mi
$103,822
Median Household Income
$69,699
Median Earnings
$2,050
Median Rent
$547,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - A renovated kitchen and bathroom complement hardwood floors, climate control, and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 2305 FARRINGTON AVENUE Unit 203 Alexandria, VA.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two‑bedroom condominium in Farrington Place; Renovated kitchen and bathroom, hardwood floors, and in‑unit laundry; GE mini‑split heating and cooling system
