Two-Bedroom Residential Income
For Sale
$349,900
244 S REYNOLDS STREET Unit 301, Alexandria, VA 22304
Updated condominium with a private courtyard-facing balcony, fireplace, elevator access, and community swimming pool.
Property Size975 SF
Price / SF$358.87
Days on Market21
Property Features for 244 S REYNOLDS STREET Unit 301
General Information
Standard status
Active
Size
975 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Landmark/Van Dorn
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,282
Amenities
swimming pool
Building Details
Building Size
975 SF
Year Built
1988
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Oct 8
Changed: Oct 27
Last Checked: Oct 26 at 3:17PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 975-square-foot condominium is on the third floor of a 1988 residential building. The two-bedroom, two-bath layout includes a living room with a fireplace and access to a private balcony facing the courtyard, plus a separate dining area. The kitchen has maple cabinetry, granite counters, stainless-steel appliances, and updated flooring. Improvements include refreshed bathrooms, new windows and sliding glass doors, fresh paint, and wood blinds in both bedrooms. Building features include elevator and stair access, a swimming pool, and parking.
The property is at 244 S. Reynolds Street in Alexandria, with public transportation near the entrance and restaurants within walking distance. Shopping and major commuter routes, including I-395, are also nearby. Downtown Washington, D.C., is approximately 15 minutes away.
The property is at 244 S. Reynolds Street in Alexandria, with public transportation near the entrance and restaurants within walking distance. Shopping and major commuter routes, including I-395, are also nearby. Downtown Washington, D.C., is approximately 15 minutes away.
Key Highlights
- Two‑bedroom, two‑bath condominium with 975 square feet
- Third‑floor unit in a building constructed in 1988
- Private balcony overlooking the courtyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,946
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$298,920
$298.9K
Cap Rate 7%
$213,514
$213.5K
Cap Rate 9%
$166,067
$166.1K
Market Conditions
NOI Build-Up for 975 SF
Gross rent
$28.7K $29.40/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$27.2K $27.87/SF
− OpEx
−$12.2K −$12.54/SF
NOI
$14.9K $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%
$298,920
Cap Rate 7%
$213,514
Cap Rate 9%
$166,067
Alternative Uses
Best Use
Apartment 5plus
$213.5K
$186.8K – $249.1K
NOI $14,946 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$541.5K
$473.9K – $631.8K
NOI $37,908 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,463
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 condominium with a private courtyard-facing balcony, fireplace, elevator access, and community swimming pool.
Where is this residential income property located?
The property is located at 244 S REYNOLDS STREET Unit 301 Alexandria, VA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with 975 square feet; Third‑floor unit in a building constructed in 1988; Private balcony overlooking the courtyard
