One-Bedroom Condo
For Sale
$159,900
Pending
485 N ARMISTEAD STREET Unit T3, Alexandria, VA 22312
The kitchen features granite counters, a breakfast bar, gas range, dishwasher, refrigerator, and pantry.
Property Size818 SF
Days on Market48
Property Features for 485 N ARMISTEAD STREET Unit T3
General Information
Standard status
Pending
Size
818 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Landmark/Van Dorn
Highway Access
Yes
Public Transit
Yes
Additional Details
Unit Mix
1 x 1BR/1BA
Taxes and HOA fees
Annual Taxes
$2,486
Amenities
pool
tennis courts
tot lot
laundry
Building Details
Building Size
818 SF
Year Built
1967
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Sep 11
Changed: Oct 27
Last Checked: Oct 26 at 3:54PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 818-square-foot, one-bedroom, one-bathroom condominium was built in 1967 and is offered in as-is condition. The below-grade unit has carpet, vinyl, and tile flooring, a patio, and several closets, including a walk-in closet. The kitchen includes granite countertops, a breakfast bar, gas stove, dishwasher, refrigerator, and pantry. Laundry facilities are across the hall, and the unit has assigned parking and access to common storage.
Community amenities include a pool, tennis courts, and a tot lot. Condo fees include all utilities except internet.
Community amenities include a pool, tennis courts, and a tot lot. Condo fees include all utilities except internet.
Key Highlights
- 818‑square‑foot, one‑bedroom, one‑bathroom condominium
- Kitchen with granite countertops, breakfast bar, gas stove, dishwasher, refrigerator, and pantry
- Patio opens to green space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,539
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,780
$250.8K
Cap Rate 7%
$179,129
$179.1K
Cap Rate 9%
$139,322
$139.3K
Market Conditions
NOI Build-Up for 818 SF
Gross rent
$24.0K $29.40/SF
− Vacancy
−$1.3K −$1.53/SF
EGI
$22.8K $27.87/SF
− OpEx
−$10.3K −$12.54/SF
NOI
$12.5K $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%
$250,780
Cap Rate 7%
$179,129
Cap Rate 9%
$139,322
Alternative Uses
Best Use
Apartment 5plus
$179.1K
$156.7K – $209.0K
NOI $12,539 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$454.3K
$397.6K – $530.1K
NOI $31,804 @ 7.0% cap · market cap 19.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 22312, VA
30,447
Population
11,191
Households
2.7
Avg Household Size
36
Median Age
53%
College-Educated
92%
High-School Grad
5.1 sq mi
ZIP Area
5,970
Density / Sq Mi
$105,044
Median Household Income
$53,471
Median Earnings
$2,009
Median Rent
$593,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The kitchen features granite counters, a breakfast bar, gas range, dishwasher, refrigerator, and pantry.
Where is this residential income property located?
The property is located at 485 N ARMISTEAD STREET Unit T3 Alexandria, VA.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: 818‑square‑foot, one‑bedroom, one‑bathroom condominium; Kitchen with granite countertops, breakfast bar, gas stove, dishwasher, refrigerator, and pantry; Patio opens to green space
