One-Bedroom Residential Income
For Sale
$224,900
4600 DUKE STREET Unit 430, Alexandria, VA 22304
Condominium living with one bedroom, one bath, natural light, and utilities included through the condo fee.
Property Size864 SF
Days on Market76
Property Features for 4600 DUKE STREET Unit 430
General Information
Standard status
Active
Size
864 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,702
Building Details
Building Size
864 SF
Year Built
1967
Listing Agency:
Redfin Corporation
Listed By:
Mokonnen Abebe · License #0225211933
(703) 725-7282
Source:
Dcmetrorealtyteam
Added: Jun 26
Changed: Aug 31
Last Checked: Sep 8 at 9:55AM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This residential income property is a one-bedroom, one-bath condominium in a building completed in 1967. The unit offers a bright interior, a spacious bedroom, and an efficient floor plan suited to low-maintenance residential use. Utilities are included in the condo fee, simplifying recurring household expenses.
The property is located in Alexandria near the Landmark redevelopment and Inova Alexandria Hospital campus. Metrobus service is available outside the building, with access to Van Dorn Metro Station, I-395, I-495, Old Town Alexandria, the Pentagon, Reagan National Airport, and Washington, D.C. Shopping, dining, grocery stores, parks, and other daily conveniences are also identified nearby.
The property is located in Alexandria near the Landmark redevelopment and Inova Alexandria Hospital campus. Metrobus service is available outside the building, with access to Van Dorn Metro Station, I-395, I-495, Old Town Alexandria, the Pentagon, Reagan National Airport, and Washington, D.C. Shopping, dining, grocery stores, parks, and other daily conveniences are also identified nearby.
Key Highlights
- One‑bedroom, one‑bath condominium
- Utilities included in the condo fee
- Building completed in 1967
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
$13,244
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
5.89%
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%
$264,880
$264.9K
Cap Rate 7%
$189,200
$189.2K
Cap Rate 9%
$147,156
$147.2K
Market Conditions
NOI Build-Up for 864 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
$25.4K $29.40/SF
− Vacancy
−$1.3K −$1.53/SF
EGI
$24.1K $27.87/SF
− OpEx
−$10.8K −$12.54/SF
NOI
$13.2K $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%
$264,880
Cap Rate 7%
$189,200
Cap Rate 9%
$147,156
Alternative Uses
Best Use
Apartment 5plus
$189.2K
$165.6K – $220.7K
NOI $13,244 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$479.9K
$419.9K – $559.9K
NOI $33,592 @ 7.0% cap · market cap 14.94%
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
1,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 22304, VA
49,237
Population
24,654
Households
2
Avg Household Size
37
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
10,258
Density / Sq Mi
$97,629
Median Household Income
$64,929
Median Earnings
$1,934
Median Rent
$496,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium living with one bedroom, one bath, natural light, and utilities included through the condo fee.
Where is this residential income property located?
The property is located at 4600 DUKE STREET Unit 430 Alexandria, VA.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: One‑bedroom, one‑bath condominium; Utilities included in the condo fee; Building completed in 1967
