Top-Floor Residential Income
For Sale
$535,000
4089 S FOUR MILE RUN DRIVE Unit 402, Arlington, VA 22204
Condo ownership includes extensive amenities, weekday Pentagon City Metro shuttle service, and coverage of several recurring property services.
Property Size1,135 SF
Price / SF$471.37
Days on Market26
Property Features for 4089 S FOUR MILE RUN DRIVE Unit 402
General Information
Standard status
Active
Size
1,135 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,348
Amenities
swimming pool
clubhouse
fitness center
outdoor grilling stations
EV charging stations
weekday shuttle service to Pentagon City Metro
Building Details
Building Size
1,135 SF
Year Built
1966
Listing Agency:
Keller Williams Realty
Listed By:
Matias Leiva · License #0225228134
(703) 400-7012
Source:
Kerishull
Added: Aug 14
Changed: Sep 8
Last Checked: Sep 7 at 7:32PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This top-floor condominium at 4089 S Four Mile Run Drive #402 features an open interior with hardwood flooring in the main living areas, granite countertops, stainless steel appliances, and abundant natural light. The living and dining areas provide flexible space, while the home includes generously sized bedrooms and a washer and dryer replaced in 2024. Central A/C and forced-air heating support year-round comfort.
West Village of Shirlington provides a broad amenity package, including a swimming pool, clubhouse with bar area and pool table, fitness center, outdoor grilling stations, and EV charging stations. Weekday shuttle service connects the community with Pentagon City Metro. Condo dues cover water, gas, lawn care, and common-area maintenance. The property is minutes from the Village at Shirlington, with restaurants, coffee shops, bars, shopping, entertainment, walking trails, and a movie theater nearby.
West Village of Shirlington provides a broad amenity package, including a swimming pool, clubhouse with bar area and pool table, fitness center, outdoor grilling stations, and EV charging stations. Weekday shuttle service connects the community with Pentagon City Metro. Condo dues cover water, gas, lawn care, and common-area maintenance. The property is minutes from the Village at Shirlington, with restaurants, coffee shops, bars, shopping, entertainment, walking trails, and a movie theater nearby.
Key Highlights
- Top‑floor condo with an open layout and hardwood flooring in the main living areas
- Granite countertops and stainless steel appliances
- Washer and dryer replaced in 2024
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
$17,079
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
3.19%
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%
$341,580
$341.6K
Cap Rate 7%
$243,986
$244.0K
Cap Rate 9%
$189,767
$189.8K
Market Conditions
NOI Build-Up for 1,135 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
$32.7K $28.80/SF
− Vacancy
−$1.6K −$1.44/SF
EGI
$31.1K $27.36/SF
− OpEx
−$14.0K −$12.31/SF
NOI
$17.1K $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 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%
$341,580
Cap Rate 7%
$243,986
Cap Rate 9%
$189,767
Alternative Uses
Best Use
Apartment 5plus
$244.0K
$213.5K – $284.7K
NOI $17,079 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$630.4K
$551.6K – $735.5K
NOI $44,129 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Demographics for 22204, VA
52,761
Population
24,128
Households
2.2
Avg Household Size
35
Median Age
62%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
12,869
Density / Sq Mi
$109,277
Median Household Income
$73,091
Median Earnings
$1,871
Median Rent
$672,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo ownership includes extensive amenities, weekday Pentagon City Metro shuttle service, and coverage of several recurring property services.
Where is this residential income property located?
The property is located at 4089 S FOUR MILE RUN DRIVE Unit 402 Arlington, VA.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Top‑floor condo with an open layout and hardwood flooring in the main living areas; Granite countertops and stainless steel appliances; Washer and dryer replaced in 2024
