Residential Income Condominium with
New
For Sale
$539,500
5904 MOUNT EAGLE DRIVE Unit 114, Alexandria, VA 22303
Two-bedroom condominium with a den, enclosed sunroom, in-unit laundry, private storage, and dedicated garage parking.
Property Size1,525 SF
Days on Market6
Property Features for 5904 MOUNT EAGLE DRIVE Unit 114
General Information
Standard status
Active
Size
1,525 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$7,767
Building Details
Building Size
1,525 SF
Year Built
1984
Listing Agency:
RE/MAX Allegiance
Listed By:
Greg M Culbertson · License #0225153432
(703) 795-6444
Source:
Dcmetrorealtyteam
Added: Sep 3
Changed: Sep 6
Last Checked: Sep 8 at 12:16PM
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 RE/MAX Allegiance
Investment Insights
Based on property information with market context.
This residential income condominium offers two bedrooms, two full bathrooms, a den, formal dining room, and an enclosed sunroom measuring 22 X 9'5. The den can serve as an office, library, television room, or guest room. The kitchen includes two walls of cabinetry and countertops, a breakfast bar, and a walk-in pantry. The primary bedroom has two walk-in closets, a dressing area, a private bathroom, and direct access to the sunroom. In-unit washer and dryer connections are provided, and a new Carrier HVAC system was installed in 2025.
The property includes a dedicated garage parking space, additional unassigned lot parking, and separate storage in Building 5904, Level B1, Room 19. The garage space is on the same level as the storage room. Hot and cold water are included in the condo fee, while electricity is billed separately. Community amenities include indoor and outdoor swimming pools, fitness facilities, tennis and pickleball courts, walking trails, a restaurant and café bar, convenience store, and on-site management. A community shuttle provides Metro access, which is also approximately a 10-minute walk away.
The property includes a dedicated garage parking space, additional unassigned lot parking, and separate storage in Building 5904, Level B1, Room 19. The garage space is on the same level as the storage room. Hot and cold water are included in the condo fee, while electricity is billed separately. Community amenities include indoor and outdoor swimming pools, fitness facilities, tennis and pickleball courts, walking trails, a restaurant and café bar, convenience store, and on-site management. A community shuttle provides Metro access, which is also approximately a 10-minute walk away.
Key Highlights
- Two bedrooms, two full bathrooms, den, formal dining room, and enclosed sunroom
- 22 X 9'5 sunroom with access from the living room and both bedrooms
- New Carrier HVAC system installed in 2025
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
$23,377
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
4.33%
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%
$467,540
$467.5K
Cap Rate 7%
$333,957
$334.0K
Cap Rate 9%
$259,744
$259.7K
Market Conditions
NOI Build-Up for 1,525 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
$44.8K $29.40/SF
− Vacancy
−$2.3K −$1.53/SF
EGI
$42.5K $27.87/SF
− OpEx
−$19.1K −$12.54/SF
NOI
$23.4K $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%
$467,540
Cap Rate 7%
$333,957
Cap Rate 9%
$259,744
Alternative Uses
Best Use
Apartment 5plus
$334.0K
$292.2K – $389.6K
NOI $23,377 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$847.0K
$741.2K – $988.2K
NOI $59,292 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Explore this area
Business Placement
Demographics for 22303, VA
16,109
Population
8,669
Households
1.9
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
1.9 sq mi
ZIP Area
8,478
Density / Sq Mi
$103,822
Median Household Income
$69,699
Median Earnings
$2,050
Median Rent
$547,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with a den, enclosed sunroom, in-unit laundry, private storage, and dedicated garage parking.
Where is this residential income property located?
The property is located at 5904 MOUNT EAGLE DRIVE Unit 114 Alexandria, VA.
What is the asking price?
The asking price for this property is $539,500.
What are key features of this property?
This property features: Two bedrooms, two full bathrooms, den, formal dining room, and enclosed sunroom; 22 X 9'5 sunroom with access from the living room and both bedrooms; New Carrier HVAC system installed in 2025
