Residential Income Property with
For Sale
$369,000
2621 S WALTER REED DRIVE S Unit A, Arlington, VA 22206
An end-unit home pairs two bedrooms with a fenced private patio and updated kitchen and bath.
Property Size755 SF
Price / SF$488.74
Days on Market34
Property Features for 2621 S WALTER REED DRIVE S Unit A
General Information
Standard status
Active
Size
755 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Shirlington
Highway Access
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,136
Amenities
private patio
two outdoor swimming pools
tennis courts
Building Details
Building Size
755 SF
Year Built
1950
Listing Agency:
eXp Realty
Listed By:
Canopy Property Group · License #670867
(202) 410-0672
Source:
Canopy-re
Added: Sep 25
Changed: Oct 27
Last Checked: Oct 26 at 12:16PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 755-square-foot, two-bedroom, one-bath end-unit condo was built in 1950. Interior features include granite kitchen counters, stainless steel appliances, a pantry, dining area, and stacked washer and dryer. The kitchen and bathroom have been updated, and the unit also has newer flooring, fresh neutral paint, and replaced light fixtures and ceiling fans. Glass-paneled double doors open to a private patio enclosed by brick and white picket fencing.
The Arlington community offers two outdoor swimming pools, tennis courts, and parking near the unit. The property is minutes from the Village at Shirlington’s restaurants, shops, Harris Teeter, movie theater, and Signature Theatre. Nearby outdoor destinations include the W&OD Trail, Four Mile Trail, parks, and a dog park. I-395 provides access toward the Pentagon, Amazon HQ2, and Washington, DC.
The Arlington community offers two outdoor swimming pools, tennis courts, and parking near the unit. The property is minutes from the Village at Shirlington’s restaurants, shops, Harris Teeter, movie theater, and Signature Theatre. Nearby outdoor destinations include the W&OD Trail, Four Mile Trail, parks, and a dog park. I-395 provides access toward the Pentagon, Amazon HQ2, and Washington, DC.
Key Highlights
- 755‑square‑foot, two‑bedroom, one‑bath end‑unit condo
- Private patio enclosed by brick and white picket fencing
- Granite counters, stainless steel appliances, pantry, and dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,361
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,220
$227.2K
Cap Rate 7%
$162,300
$162.3K
Cap Rate 9%
$126,233
$126.2K
Market Conditions
NOI Build-Up for 755 SF
Gross rent
$21.7K $28.80/SF
− Vacancy
−$1.1K −$1.44/SF
EGI
$20.7K $27.36/SF
− OpEx
−$9.3K −$12.31/SF
NOI
$11.4K $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%
$227,220
Cap Rate 7%
$162,300
Cap Rate 9%
$126,233
Alternative Uses
Best Use
Apartment 5plus
$162.3K
$142.0K – $189.4K
NOI $11,361 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$419.3K
$366.9K – $489.2K
NOI $29,354 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,063
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - An end-unit home pairs two bedrooms with a fenced private patio and updated kitchen and bath.
Where is this residential income property located?
The property is located at 2621 S WALTER REED DRIVE S Unit A Arlington, VA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 755‑square‑foot, two‑bedroom, one‑bath end‑unit condo; Private patio enclosed by brick and white picket fencing; Granite counters, stainless steel appliances, pantry, and dining area
