End-Unit Residential Income
For Sale
$300,000
3506 MARTHA CUSTIS DRIVE, Alexandria, VA 22302
A one-bedroom condo includes in-unit laundry, gas cooking, and access to shared recreation amenities.
Property Size750 SF
Price / SF$400
Days on Market48
Property Features for 3506 MARTHA CUSTIS DRIVE
General Information
Standard status
Active
Size
750 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
North Ridge/Rosemont
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,761
Amenities
swimming pools
tennis courts
clubhouse
common grounds
picnic areas
in-unit washer/dryer
gas cooking
pantry
Building Details
Building Size
750 SF
Year Built
1941
Listing Agency:
Corcoran McEnearney
Listed By:
Kari A Steinberg · License #0225184458
(703) 343-5242
Source:
Jackrealtygroup
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 26 at 10:32AM
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 Corcoran McEnearney
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Investment Insights
Based on property information with market context.
This 750-square-foot, one-bedroom, one-bathroom end-unit condo was built in 1941. The home has parquet flooring, a front stoop, foyer, coat closet, updated kitchen with gas cooking, pantry, and an in-unit washer and dryer.
Community features include swimming pools, tennis courts, a clubhouse, picnic areas, and maintained common grounds. A bus stop is less than a mile away, and Braddock Metro is within three miles. The property is also less than 10 miles from the airport, five miles from Old Town Alexandria, and near the pedestrian bridge to Shirlington.
Community features include swimming pools, tennis courts, a clubhouse, picnic areas, and maintained common grounds. A bus stop is less than a mile away, and Braddock Metro is within three miles. The property is also less than 10 miles from the airport, five miles from Old Town Alexandria, and near the pedestrian bridge to Shirlington.
Key Highlights
- 750‑square‑foot, one‑bedroom, one‑bathroom end‑unit condo
- Built in 1941
- Updated kitchen with gas cooking, pantry, and in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,497
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$229,940
$229.9K
Cap Rate 7%
$164,243
$164.2K
Cap Rate 9%
$127,744
$127.7K
Market Conditions
NOI Build-Up for 750 SF
Gross rent
$22.1K $29.40/SF
− Vacancy
−$1.1K −$1.53/SF
EGI
$20.9K $27.87/SF
− OpEx
−$9.4K −$12.54/SF
NOI
$11.5K $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 Rate 5%
$229,940
Cap Rate 7%
$164,243
Cap Rate 9%
$127,744
Alternative Uses
Best Use
Apartment 5plus
$164.2K
$143.7K – $191.6K
NOI $11,497 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$416.6K
$364.5K – $486.0K
NOI $29,160 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
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Business Placement
Demographics for 22302, VA
17,972
Population
9,660
Households
1.9
Avg Household Size
38
Median Age
70%
College-Educated
93%
High-School Grad
2.3 sq mi
ZIP Area
7,814
Density / Sq Mi
$127,037
Median Household Income
$83,782
Median Earnings
$2,039
Median Rent
$630,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A one-bedroom condo includes in-unit laundry, gas cooking, and access to shared recreation amenities.
Where is this residential income property located?
The property is located at 3506 MARTHA CUSTIS DRIVE Alexandria, VA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 750‑square‑foot, one‑bedroom, one‑bathroom end‑unit condo; Built in 1941; Updated kitchen with gas cooking, pantry, and in‑unit washer and dryer
