Renovated 2-Bedroom
For Sale
$225,000
2620 REDCOAT DRIVE Unit 178, Alexandria, VA 22303
Updated condo with flexible bonus room, private balcony, and community pool views.
Property Size1,069 SF
Days on Market122
Property Features for 2620 REDCOAT DRIVE Unit 178
General Information
Standard status
Active
Size
1,069 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,051
Amenities
private balcony
community pool
landscaped grounds
Building Details
Building Size
1,069 SF
Year Built
1967
Listing Agency:
Samson Properties
(703) 850-0505
Listed By:
Kathiuska I Ramirez · License #0225088549
(703) 850-0505
Source:
Dcmetrorealtyteam
Added: Apr 30
Changed: Aug 29
Last Checked: Aug 29 at 2:15PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This renovated condominium offers two bedrooms, one bathroom, and a bonus room that can function as a home office or potential third bedroom. The interior includes a separate dining room and a generously sized living area, with natural light throughout. A private balcony faces the community pool and landscaped grounds.
The property is minutes from Huntington Metro, Route 1, and major commuter routes. Utilities are included, and residents have access to community amenities. Built in 1967, the unit combines an established residential setting with an updated interior and flexible living space.
The property is minutes from Huntington Metro, Route 1, and major commuter routes. Utilities are included, and residents have access to community amenities. Built in 1967, the unit combines an established residential setting with an updated interior and flexible living space.
Key Highlights
- Renovated 2‑bedroom, 1‑bath condominium
- Bonus room offers office use or potential third bedroom
- Separate dining room and expansive living room
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
$16,387
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
7.28%
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%
$327,740
$327.7K
Cap Rate 7%
$234,100
$234.1K
Cap Rate 9%
$182,078
$182.1K
Market Conditions
NOI Build-Up for 1,069 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
$31.4K $29.40/SF
− Vacancy
−$1.6K −$1.53/SF
EGI
$29.8K $27.87/SF
− OpEx
−$13.4K −$12.54/SF
NOI
$16.4K $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%
$327,740
Cap Rate 7%
$234,100
Cap Rate 9%
$182,078
Alternative Uses
Best Use
Apartment 5plus
$234.1K
$204.8K – $273.1K
NOI $16,387 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$593.8K
$519.5K – $692.7K
NOI $41,563 @ 7.0% cap · market cap 18.47%
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
1,068
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with flexible bonus room, private balcony, and community pool views.
Where is this residential income property located?
The property is located at 2620 REDCOAT DRIVE Unit 178 Alexandria, VA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Renovated 2‑bedroom, 1‑bath condominium; Bonus room offers office use or potential third bedroom; Separate dining room and expansive living room
