Renovated Residential Income Property with
For Sale
$749,500
5904 MOUNT EAGLE DRIVE Unit 1214, Alexandria, VA 22303
Updated two-bedroom condominium with a den, Potomac and National Harbor views, and private garage parking.
Property Size1,525 SF
Days on Market27
Property Features for 5904 MOUNT EAGLE DRIVE Unit 1214
General Information
Standard status
Active
Size
1,525 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,937
Amenities
screened-in porch
in-unit washer/dryer
commercial laundry
indoor swimming pool
outdoor swimming pool
fitness center
tennis courts
pickleball
basketball
walking/nature trails
picnic/grilling areas
playground
bowling alley
game room
hobby rooms
party rooms
on-site restaurant/cafe bar
convenience store
hair salon
dog park
EV charging stations
Building Details
Building Size
1,525 SF
Year Built
1986
Listing Agency:
RE/MAX Allegiance
(703) 795-6444
Listed By:
Greg M Culbertson · License #0225153432
(703) 795-6444
Source:
Barnesrealestatecompany
Added: Jul 31
Changed: Aug 23
Last Checked: Aug 25 at 12:26PM
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 property is a two-bedroom, two-bath condominium with a den or potential third bedroom. The residence includes an open kitchen renovated with Craftsman/Shaker cabinetry, granite counters, tiled backsplash, task lighting, stainless-steel appliances, pantry storage, and a breakfast bar. Both bathrooms have been renovated, while flooring, doors, lighting, crown molding, and appliances have also been upgraded. A spacious sunroom connects to the living room, primary bedroom, and second bedroom, and the unit includes an in-home washer and dryer, dedicated storage, and a Carrier HVAC system. One garage parking space conveys with the property.
Located in Montebello at 5904 Mount Eagle Drive in Alexandria, the home has year-round views toward the Potomac and National Harbor. Montebello is a gated community with a shuttle or 10-minute walk to Metro, indoor and outdoor pools, fitness facilities, tennis and pickleball courts, walking trails, a restaurant and cafe, convenience store, dog park, and on-site management. The community also provides 24-hour gate and grounds patrol.
Located in Montebello at 5904 Mount Eagle Drive in Alexandria, the home has year-round views toward the Potomac and National Harbor. Montebello is a gated community with a shuttle or 10-minute walk to Metro, indoor and outdoor pools, fitness facilities, tennis and pickleball courts, walking trails, a restaurant and cafe, convenience store, dog park, and on-site management. The community also provides 24-hour gate and grounds patrol.
Key Highlights
- Two‑bedroom, two‑bath condominium with den or potential third bedroom
- Renovated kitchen with granite counters, stainless‑steel appliances, pantry, and breakfast bar
- Sunroom with access from the living room, primary bedroom, and second bedroom
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
3.12%
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 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$847.0K
$741.2K – $988.2K
NOI $59,292 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
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 - Updated two-bedroom condominium with a den, Potomac and National Harbor views, and private garage parking.
Where is this residential income property located?
The property is located at 5904 MOUNT EAGLE DRIVE Unit 1214 Alexandria, VA.
What is the asking price?
The asking price for this property is $749,500.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with den or potential third bedroom; Renovated kitchen with granite counters, stainless‑steel appliances, pantry, and breakfast bar; Sunroom with access from the living room, primary bedroom, and second bedroom
