Top-Floor Residential Income
For Sale
$355,900
4870 EISENHOWER AVENUE Unit 407, Alexandria, VA 22304
Two-bedroom condo with updated HVAC, smart-home features, and access to extensive community amenities.
Property Size937 SF
Days on Market25
Property Features for 4870 EISENHOWER AVENUE Unit 407
General Information
Standard status
Active
Size
937 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,124
Amenities
outdoor pool
dog park
playground
clubhouse
fitness center
business center
library
game room
indoor half basketball court
private balcony
full-size washer and dryer
Wi-Fi-enabled Ecobee smart thermostat
Level Bolt smart lock
ADT security system
Building Details
Building Size
937 SF
Year Built
2003
Listing Agency:
EXP Realty, LLC
(202) 297-3334
Listed By:
John Kenneth William Turner · License #0225233344
(202) 297-3334
Source:
Dcmetrorealtyteam
Added: Aug 2
Changed: Aug 20
Last Checked: Aug 25 at 12:31PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This top-floor, southern-facing condominium offers two bedrooms, one full bathroom, and bright interior living spaces with laminate flooring throughout. The kitchen includes a newly installed refrigerator and convection oven/microwave combination, while the primary bedroom has a walk-in closet and the second bedroom provides two large closets. Additional features include 8.5-foot ceilings, a recently updated HVAC system, full-size washer and dryer, an Ecobee smart thermostat, Level Bolt smart lock, and an ADT security system ready for activation. A private balcony overlooks mature trees.
The home includes two reserved spaces in a secure enclosed garage and two guest parking passes. Exchange at Van Dorn amenities include an outdoor pool, dog park, playground, clubhouse with fitness center, business center, library, game room with pool table, and indoor half basketball court. Van Dorn Metro is a short 10-minute walk away, with shuttle service to Van Dorn and Eisenhower Avenue stations, DASH bus access, and convenient connections to I-95, I-395, and I-495. The property was built in 2003.
The home includes two reserved spaces in a secure enclosed garage and two guest parking passes. Exchange at Van Dorn amenities include an outdoor pool, dog park, playground, clubhouse with fitness center, business center, library, game room with pool table, and indoor half basketball court. Van Dorn Metro is a short 10-minute walk away, with shuttle service to Van Dorn and Eisenhower Avenue stations, DASH bus access, and convenient connections to I-95, I-395, and I-495. The property was built in 2003.
Key Highlights
- Top‑floor, southern‑facing 2‑bedroom, 1‑bathroom condo with a private balcony
- Two reserved parking spaces in the secure enclosed garage plus two guest parking passes
- 8.5‑foot ceilings, updated HVAC, full‑size washer and dryer, and smart‑home equipment
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
$14,363
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
4.04%
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%
$287,260
$287.3K
Cap Rate 7%
$205,186
$205.2K
Cap Rate 9%
$159,589
$159.6K
Market Conditions
NOI Build-Up for 937 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
$27.5K $29.40/SF
− Vacancy
−$1.4K −$1.53/SF
EGI
$26.1K $27.87/SF
− OpEx
−$11.8K −$12.54/SF
NOI
$14.4K $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%
$287,260
Cap Rate 7%
$205,186
Cap Rate 9%
$159,589
Alternative Uses
Best Use
Apartment 5plus
$205.2K
$179.5K – $239.4K
NOI $14,363 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$520.4K
$455.4K – $607.2K
NOI $36,431 @ 7.0% cap · market cap 10.24%
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
675
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 - Two-bedroom condo with updated HVAC, smart-home features, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 4870 EISENHOWER AVENUE Unit 407 Alexandria, VA.
What is the asking price?
The asking price for this property is $355,900.
What are key features of this property?
This property features: Top‑floor, southern‑facing 2‑bedroom, 1‑bathroom condo with a private balcony; Two reserved parking spaces in the secure enclosed garage plus two guest parking passes; 8.5‑foot ceilings, updated HVAC, full‑size washer and dryer, and smart‑home equipment
