Two-Bedroom Residential Income
For Sale
$249,000
4600 DUKE STREET Unit 706, Alexandria, VA 22304
Updated condominium residence with in-unit laundry, generous living space, and utilities included through the condo fee.
Property Size1,067 SF
Days on Market37
Property Features for 4600 DUKE STREET Unit 706
General Information
Standard status
Active
Size
1,067 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,963
Amenities
in-unit washer/dryer
Building Details
Building Size
1,067 SF
Year Built
1967
Listing Agency:
TTR Sothebys International Realty
Listed By:
Shanli Alikhani · License #0225254477
(703) 927-3403
Source:
Dcmetrorealtyteam
Added: Aug 4
Changed: Sep 2
Last Checked: Sep 8 at 10:56AM
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 TTR Sothebys International Realty
Investment Insights
Based on property information with market context.
This two-bedroom condominium residence, built in 1967, provides 1000+ sqft of living area with a practical layout for everyday use. The home includes a refreshed kitchen, new in-unit washer/dryer, a full bathroom, and a spacious family room with oversized windows. LVP flooring extends through the main living areas, while the bedrooms can accommodate sleeping, office, guest, or flex-space needs.
The property is located at 4600 Duke Street in Alexandria, with Harris Teeter, ALDI, and CVS steps away. I-395 and multiple Metro stations are minutes from the residence, providing access throughout the capital region. Utilities are included through the condominium fee.
The property is located at 4600 Duke Street in Alexandria, with Harris Teeter, ALDI, and CVS steps away. I-395 and multiple Metro stations are minutes from the residence, providing access throughout the capital region. Utilities are included through the condominium fee.
Key Highlights
- Two‑bedroom condominium residence with 1000+ sqft
- Built in 1967 with updated kitchen and modern finishes
- Brand‑new in‑unit washer/dryer
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
$16,356
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
6.57%
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%
$327,120
$327.1K
Cap Rate 7%
$233,657
$233.7K
Cap Rate 9%
$181,733
$181.7K
Market Conditions
NOI Build-Up for 1,067 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
$31.4K $29.40/SF
− Vacancy
−$1.6K −$1.53/SF
EGI
$29.7K $27.87/SF
− OpEx
−$13.4K −$12.54/SF
NOI
$16.4K $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%
$327,120
Cap Rate 7%
$233,657
Cap Rate 9%
$181,733
Alternative Uses
Best Use
Apartment 5plus
$233.7K
$204.5K – $272.6K
NOI $16,356 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$592.6K
$518.6K – $691.4K
NOI $41,485 @ 7.0% cap · market cap 16.66%
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 - Updated condominium residence with in-unit laundry, generous living space, and utilities included through the condo fee.
Where is this residential income property located?
The property is located at 4600 DUKE STREET Unit 706 Alexandria, VA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑bedroom condominium residence with 1000+ sqft; Built in 1967 with updated kitchen and modern finishes; Brand‑new in‑unit washer/dryer
