Two-Bedroom Residential Income
For Sale
$295,000
234 N THOMAS STREET Unit 234-3, Arlington, VA 22203
Recent interior updates include fresh paint, new light fixtures, and stainless steel kitchen appliances.
Property Size875 SF
Price / SF$337.14
Days on Market12
Property Features for 234 N THOMAS STREET Unit 234-3
General Information
Standard status
Active
Size
875 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Buckingham
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,418
Building Details
Building Size
875 SF
Year Built
1940
Listing Agency:
EXP Realty, LLC
Listed By:
Bic N DeCaro · License #0225055310
(703) 395-3662
Source:
Jackrealtygroup
Added: Oct 17
Changed: Oct 27
Last Checked: Oct 26 at 2:41PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This residential property has two bedrooms and one bathroom across 875 square feet. Built in 1940, it received 2026 updates including fresh interior paint, new light fixtures, and stainless steel kitchen appliances. The community is described as pet-friendly and features mature oak trees.
The property is 0.7 miles from the Ballston Metro and within walking distance of shops, restaurants, entertainment, and everyday conveniences. Ballston Quarter, local parks, and major commuter routes are also nearby.
The property is 0.7 miles from the Ballston Metro and within walking distance of shops, restaurants, entertainment, and everyday conveniences. Ballston Quarter, local parks, and major commuter routes are also nearby.
Key Highlights
- Two‑bedroom, one‑bath residence with 875 square feet
- 2026 updates include fresh paint, new light fixtures, and stainless steel kitchen appliances
- Built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,167
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,340
$263.3K
Cap Rate 7%
$188,100
$188.1K
Cap Rate 9%
$146,300
$146.3K
Market Conditions
NOI Build-Up for 875 SF
Gross rent
$25.2K $28.80/SF
− Vacancy
−$1.3K −$1.44/SF
EGI
$23.9K $27.36/SF
− OpEx
−$10.8K −$12.31/SF
NOI
$13.2K $15.05/SF
Area
Arlington, VA
Vacancy
5.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,340
Cap Rate 7%
$188,100
Cap Rate 9%
$146,300
Alternative Uses
Best Use
Apartment 5plus
$188.1K
$164.6K – $219.5K
NOI $13,167 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$486.0K
$425.3K – $567.0K
NOI $34,020 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
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Business Placement
Demographics for 22203, VA
25,437
Population
14,528
Households
1.8
Avg Household Size
33
Median Age
78%
College-Educated
95%
High-School Grad
1.6 sq mi
ZIP Area
15,898
Density / Sq Mi
$132,402
Median Household Income
$90,699
Median Earnings
$2,318
Median Rent
$809,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Recent interior updates include fresh paint, new light fixtures, and stainless steel kitchen appliances.
Where is this residential income property located?
The property is located at 234 N THOMAS STREET Unit 234-3 Arlington, VA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath residence with 875 square feet; 2026 updates include fresh paint, new light fixtures, and stainless steel kitchen appliances; Built in 1940
