Residential Income Property with
For Sale
$399,900
2637 S WALTER REED DRIVE Unit A, Arlington, VA 22206
Ground-level residence features a private patio, updated interiors, and access to community recreation amenities.
Property Size755 SF
Price / SF$529.67
Days on Market118
Property Features for 2637 S WALTER REED DRIVE Unit A
General Information
Standard status
Active
Size
755 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Shirlington
Taxes and HOA fees
Annual Taxes
$4,136
Building Details
Building Size
755 SF
Year Built
1950
Listing Agency:
Realty ONE Group Capital
Listed By:
Maritania Torres · License #0225206528
(703) 980-4126
Source:
Irvinrealtyllc
Added: Jul 10
Changed: Nov 1
Last Checked: Nov 4 at 7:53AM
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 Realty ONE Group Capital
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, ground-level condominium has two bedrooms and one bathroom. Updates include a renovated bathroom, new flooring, recessed lighting, and refreshed kitchen cabinetry. A full-size all-in-one washer and dryer fits in a dedicated laundry closet, and a private patio extends the living area outdoors. The building dates to 1950.
The property includes two reserved parking spaces. Condominium fees cover water, common-area maintenance, landscaping, and snow removal; community amenities include a swimming pool and tennis courts. The home is between Shirlington and Fairlington, within walking distance of the Village at Shirlington. Nearby transportation options include Metrobus, ART, I-395, Columbia Pike, Route 7, Route 50, and Metro stations.
The property includes two reserved parking spaces. Condominium fees cover water, common-area maintenance, landscaping, and snow removal; community amenities include a swimming pool and tennis courts. The home is between Shirlington and Fairlington, within walking distance of the Village at Shirlington. Nearby transportation options include Metrobus, ART, I-395, Columbia Pike, Route 7, Route 50, and Metro stations.
Key Highlights
- 755‑square‑foot, two‑bedroom, one‑bathroom condominium
- Ground‑level layout with private patio
- Renovated bathroom, new flooring, recessed lighting, and refreshed kitchen cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,361
Cap Rate
2.84%
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 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$419.3K
$366.9K – $489.2K
NOI $29,354 @ 7.0% cap · market cap 7.34%
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
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 - Ground-level residence features a private patio, updated interiors, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 2637 S WALTER REED DRIVE Unit A Arlington, VA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 755‑square‑foot, two‑bedroom, one‑bathroom condominium; Ground‑level layout with private patio; Renovated bathroom, new flooring, recessed lighting, and refreshed kitchen cabinetry
