Ground-Floor Residential Income
For Sale
$309,900
4850 EISENHOWER AVENUE Unit 115, Alexandria, VA 22304
Ground-floor condominium with hardwood living areas, private balcony, and full-size in-unit laundry.
Property Size1,128 SF
Days on Market15
Property Features for 4850 EISENHOWER AVENUE Unit 115
General Information
Standard status
Active
Size
1,128 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Parking per Unit
2
Amenities
Outdoor Swimming Pool
Fitness Room
Business Center
Party Room
Basketball Court
Building Details
Building Size
1,128 SF
Year Built
2003
Listing Agency:
First American Real Estate
(703) 475-2545
Listed By:
Muhammad mir · License #0225200638
(703) 475-2545
Source:
Dcmetrorealtyteam
Added: Aug 12
Changed: Aug 23
Last Checked: Aug 25 at 12:38PM
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 First American Real Estate
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-full-bathroom ground-floor condominium at the Exchange at Van Dorn was built in 2003. The residence features hardwood flooring in the living and dining areas, vinyl plank flooring in both bedrooms, crown molding, recessed lighting, and a private balcony. The kitchen includes wood cabinetry, laminate countertops, and a separate laundry area with a full-size washer and dryer. The primary suite offers a private bathroom and walk-in closet, while the second bedroom has two closets and sits across from the hallway bathroom with a soaking tub and linen storage.
The unit includes 2 garage parking spaces. Community amenities include an outdoor swimming pool, fitness room, business center, party room, and basketball court. Water, sewer, and trash removal are included in the condo fee. The property is a short distance from Van Dorn Street Metro, I-395, the Capital Beltway, the Pentagon, Old Town Alexandria, and Washington, DC.
The unit includes 2 garage parking spaces. Community amenities include an outdoor swimming pool, fitness room, business center, party room, and basketball court. Water, sewer, and trash removal are included in the condo fee. The property is a short distance from Van Dorn Street Metro, I-395, the Capital Beltway, the Pentagon, Old Town Alexandria, and Washington, DC.
Key Highlights
- 2‑bedroom, 2‑full‑bathroom ground‑floor condominium
- Built in 2003 with hardwood living and dining areas
- Private balcony, crown molding, and recessed lighting
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
$17,291
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
5.58%
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%
$345,820
$345.8K
Cap Rate 7%
$247,014
$247.0K
Cap Rate 9%
$192,122
$192.1K
Market Conditions
NOI Build-Up for 1,128 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
$33.2K $29.40/SF
− Vacancy
−$1.7K −$1.53/SF
EGI
$31.4K $27.87/SF
− OpEx
−$14.1K −$12.54/SF
NOI
$17.3K $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%
$345,820
Cap Rate 7%
$247,014
Cap Rate 9%
$192,122
Alternative Uses
Best Use
Apartment 5plus
$247.0K
$216.1K – $288.2K
NOI $17,291 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$626.5K
$548.2K – $731.0K
NOI $43,857 @ 7.0% cap · market cap 14.15%
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
919
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 - Ground-floor condominium with hardwood living areas, private balcony, and full-size in-unit laundry.
Where is this residential income property located?
The property is located at 4850 EISENHOWER AVENUE Unit 115 Alexandria, VA.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: 2‑bedroom, 2‑full‑bathroom ground‑floor condominium; Built in 2003 with hardwood living and dining areas; Private balcony, crown molding, and recessed lighting
