Fifth-Floor Condo with Private
For Sale
$235,000
250 S REYNOLDS STREET Unit 502, Alexandria, VA 22304
FHA-approved one-bedroom, one-and-a-half-bath condo in a gated high-rise with private balcony and in-unit laundry.
Property Size1,086 SF
Days on Market192
Property Features for 250 S REYNOLDS STREET Unit 502
General Information
Standard status
Active
Size
1,086 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,084
Amenities
pool
fitness center
tennis courts
fire pit
grilling area
private balcony
in-unit washer/dryer
new lobby
renovated hallways
Building Details
Building Size
1,086 SF
Year Built
1974
Listing Agency:
Real Broker, LLC
(571) 276-5714
Listed By:
Dilcia Argueta Morales · License #0225269959
(571) 276-5714
Source:
Dcmetrorealtyteam
Added: Feb 15
Changed: Aug 20
Last Checked: Aug 25 at 12:21PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
FHA-approved fifth-floor condo in the Templeton of Alexandria, built in 1974. Unit 502 offers an open, light-filled layout with floor-to-ceiling windows, an eat-in kitchen with a pantry, and a private primary bedroom with an en-suite bath. Enjoy a private balcony and the convenience of in-unit washer and dryer.
The condo community features resort-style amenities including a pool, fitness center, tennis courts, a fire pit, and a grilling area. Parking is available in the front, within the gated area, and behind the building. Community upgrades are underway, including a new lobby, renovated hallways, and brand-new elevators, described as fully funded with no cost to the buyer. Sold AS-IS.
Conveniently located near Van Dorn Metro and major roadways including I-495, I-395, and I-95, with access to Old Town Alexandria, shopping, dining, and parks.
The condo community features resort-style amenities including a pool, fitness center, tennis courts, a fire pit, and a grilling area. Parking is available in the front, within the gated area, and behind the building. Community upgrades are underway, including a new lobby, renovated hallways, and brand-new elevators, described as fully funded with no cost to the buyer. Sold AS-IS.
Conveniently located near Van Dorn Metro and major roadways including I-495, I-395, and I-95, with access to Old Town Alexandria, shopping, dining, and parks.
Key Highlights
- Unit 502 is a fifth‑floor condo with a private balcony
- FHA‑approved one‑bedroom, 1.5‑bath layout with floor‑to‑ceiling windows
- Eat‑in kitchen with pantry plus in‑unit washer and dryer
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
$16,647
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
7.08%
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%
$332,940
$332.9K
Cap Rate 7%
$237,814
$237.8K
Cap Rate 9%
$184,967
$185.0K
Market Conditions
NOI Build-Up for 1,086 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
$31.9K $29.40/SF
− Vacancy
−$1.7K −$1.53/SF
EGI
$30.3K $27.87/SF
− OpEx
−$13.6K −$12.54/SF
NOI
$16.6K $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%
$332,940
Cap Rate 7%
$237,814
Cap Rate 9%
$184,967
Alternative Uses
Best Use
Apartment 5plus
$237.8K
$208.1K – $277.5K
NOI $16,647 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$603.2K
$527.8K – $703.7K
NOI $42,224 @ 7.0% cap · market cap 17.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,731
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - FHA-approved one-bedroom, one-and-a-half-bath condo in a gated high-rise with private balcony and in-unit laundry.
Where is this residential income property located?
The property is located at 250 S REYNOLDS STREET Unit 502 Alexandria, VA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Unit 502 is a fifth‑floor condo with a private balcony; FHA‑approved one‑bedroom, 1.5‑bath layout with floor‑to‑ceiling windows; Eat‑in kitchen with pantry plus in‑unit washer and dryer
