Residential Income Property with
For Sale
$324,900
Pending
2616 S ARLINGTON MILL DRIVE Unit B, Arlington, VA 22206
The 1-bedroom condo includes a wood-burning fireplace, in-unit laundry, and two reserved parking spaces.
Property Size623 SF
Days on Market56
Property Features for 2616 S ARLINGTON MILL DRIVE Unit B
General Information
Standard status
Pending
Size
623 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Shirlington
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,512
Amenities
wood-burning fireplace
private balcony
stacked washer & dryer
outdoor pool
tennis courts
gazebo
Building Details
Building Size
623 SF
Year Built
1983
Listing Agency:
EXP Realty, LLC
Listed By:
Kay Houghton · License #0225214930
(703) 225-5529
Source:
Jackrealtygroup
Added: Sep 10
Changed: Nov 3
Last Checked: Nov 4 at 8:04AM
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 623-square-foot, 1-bedroom, 1-bathroom condo in Windgate III features a private balcony, a wood-burning fireplace, and recessed lighting. Recent interior work includes new LVP flooring and fresh paint; new windows are planned for installation. The kitchen has tile flooring, white cabinetry with a built-in wine rack, a 2022 microwave, and a 2023 dishwasher. A stacked washer and dryer are located in a kitchen closet. The bedroom includes a walk-in closet, and two reserved parking spaces are assigned to the unit.
Community amenities include an outdoor pool, tennis courts, and a gazebo. A bus hub provides access to the Pentagon Metro, while The Village at Shirlington is a 7-minute walk away. The property is 7 miles from DC and was built in 1983.
Community amenities include an outdoor pool, tennis courts, and a gazebo. A bus hub provides access to the Pentagon Metro, while The Village at Shirlington is a 7-minute walk away. The property is 7 miles from DC and was built in 1983.
Key Highlights
- 623‑square‑foot condo with 1 bedroom and 1 bathroom
- Private balcony and wood‑burning fireplace
- Two reserved parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,375
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,500
$187.5K
Cap Rate 7%
$133,929
$133.9K
Cap Rate 9%
$104,167
$104.2K
Market Conditions
NOI Build-Up for 623 SF
Gross rent
$17.9K $28.80/SF
− Vacancy
−$897 −$1.44/SF
EGI
$17.0K $27.36/SF
− OpEx
−$7.7K −$12.31/SF
NOI
$9.4K $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%
$187,500
Cap Rate 7%
$133,929
Cap Rate 9%
$104,167
Alternative Uses
Best Use
Apartment 5plus
$133.9K
$117.2K – $156.3K
NOI $9,375 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$346.0K
$302.8K – $403.7K
NOI $24,222 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,178
Businesses Nearby
Explore this area
Business Placement
Demographics for 22206, VA
21,645
Population
11,851
Households
1.8
Avg Household Size
35
Median Age
76%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
10,307
Density / Sq Mi
$136,472
Median Household Income
$92,948
Median Earnings
$2,332
Median Rent
$569,700
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The 1-bedroom condo includes a wood-burning fireplace, in-unit laundry, and two reserved parking spaces.
Where is this residential income property located?
The property is located at 2616 S ARLINGTON MILL DRIVE Unit B Arlington, VA.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 623‑square‑foot condo with 1 bedroom and 1 bathroom; Private balcony and wood‑burning fireplace; Two reserved parking spaces
