Updated Residential Income
For Sale
$229,000
5203 DUKE STREET Unit 302, Alexandria, VA 22304
The one-bedroom condominium has refreshed interior finishes, a dedicated workspace, custom shelving, and kitchen work remaining.
Property Size840 SF
Price / SF$300.92
Days on Market8
Property Features for 5203 DUKE STREET Unit 302
General Information
Standard status
Active
Size
840 SF
Property subtype
Unit/Flat/Apartment
Property Condition
Severity
Repairs Needed
Evidence
some finishing work remains
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,389
Building Details
Building Size
840 SF
Year Built
1965
Listing Agency:
Metro DMV Realty
Listed By:
Michael W McCarthy · License #0225230547
(301) 684-8576
Source:
Dcmetrorealtyteam
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 13 at 2:48AM
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 Metro DMV Realty
Investment Insights
Based on property information with market context.
At 5203 Duke Street, Unit 302, this one-bedroom, one-bath condominium contains 761 square feet in a building constructed in 1965. Interior improvements include wood-look flooring, updated lighting and finishes, and architectural accents. The kitchen has two-tone cabinetry, modern countertops, a stainless steel refrigerator, and recessed lighting; installation of a stove/range and completion of some kitchen components remain. The bathroom has updated fixtures, a revised vanity, decorative tile flooring, and a glass-enclosed walk-in shower. Storage, custom shelving, a dedicated workspace, and large windows are additional interior features. The property is offered strictly as-is.
The condominium is on Duke Street in Alexandria, with access to I-395, I-495, public transportation, shopping, dining, and employment centers in Northern Virginia and Washington, D.C. It is also near the Landmark redevelopment.
The condominium is on Duke Street in Alexandria, with access to I-395, I-495, public transportation, shopping, dining, and employment centers in Northern Virginia and Washington, D.C. It is also near the Landmark redevelopment.
Key Highlights
- 761‑square‑foot, one‑bedroom, one‑bath condominium
- Interior updates include wood‑look flooring, contemporary lighting, and modern finishes
- Kitchen features two‑tone cabinetry, modern countertops, stainless steel refrigerator, and recessed lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,665
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$233,300
$233.3K
Cap Rate 7%
$166,643
$166.6K
Cap Rate 9%
$129,611
$129.6K
Market Conditions
NOI Build-Up for 761 SF
Gross rent
$22.4K $29.40/SF
− Vacancy
−$1.2K −$1.53/SF
EGI
$21.2K $27.87/SF
− OpEx
−$9.5K −$12.54/SF
NOI
$11.7K $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%
$233,300
Cap Rate 7%
$166,643
Cap Rate 9%
$129,611
Alternative Uses
Best Use
Apartment 5plus
$166.6K
$145.8K – $194.4K
NOI $11,665 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$422.7K
$369.9K – $493.1K
NOI $29,588 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,253
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The one-bedroom condominium has refreshed interior finishes, a dedicated workspace, custom shelving, and kitchen work remaining.
Where is this residential income property located?
The property is located at 5203 DUKE STREET Unit 302 Alexandria, VA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 761‑square‑foot, one‑bedroom, one‑bath condominium; Interior updates include wood‑look flooring, contemporary lighting, and modern finishes; Kitchen features two‑tone cabinetry, modern countertops, stainless steel refrigerator, and recessed lighting
