Residential Income Property with
For Sale
$389,500
5904 MOUNT EAGLE DRIVE Unit 711, Alexandria, VA 22303
One-bedroom condominium with a flexible den, renovated interiors, garage parking, and access to extensive community amenities.
Property Size1,045 SF
Days on Market41
Property Features for 5904 MOUNT EAGLE DRIVE Unit 711
General Information
Standard status
Active
Size
1,045 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$5,521
Building Details
Building Size
1,045 SF
Year Built
1986
Listing Agency:
RE/MAX Allegiance
Listed By:
Greg M Culbertson · License #0225153432
(703) 795-6444
Source:
Dcmetrorealtyteam
Added: Jul 31
Changed: Sep 6
Last Checked: Sep 8 at 12:41PM
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 one-bedroom condominium with a den that can serve as a second bedroom or office, along with 1.5 baths. The interior includes a renovated kitchen, updated primary bath, hardwood floors, new carpeting, upgraded tile, refreshed lighting, and a replaced glass enclosure in the sunroom. A new HVAC system with air scrubber was installed in 2025. The unit also includes an in-home washer and dryer, walk-in storage, and a garage parking space.
The property is part of Montebello, a gated community established in 1986 across approximately 35 wooded acres. Community features include indoor and outdoor pools, fitness facilities, tennis, pickleball, basketball, walking trails, a dog park, EV charging stations, a restaurant and cafe bar, convenience services, and on-site management. A community shuttle is included, and Metro is described as a 10-minute walk from the dedicated back gate entrance.
The assigned parking space is in Building 5904 on Level B3, while additional storage is located in Building 5904 on Level B1.
The property is part of Montebello, a gated community established in 1986 across approximately 35 wooded acres. Community features include indoor and outdoor pools, fitness facilities, tennis, pickleball, basketball, walking trails, a dog park, EV charging stations, a restaurant and cafe bar, convenience services, and on-site management. A community shuttle is included, and Metro is described as a 10-minute walk from the dedicated back gate entrance.
The assigned parking space is in Building 5904 on Level B3, while additional storage is located in Building 5904 on Level B1.
Key Highlights
- One‑bedroom unit with den or potential second bedroom and 1.5 baths
- Renovated kitchen and primary bath with updated finishes
- New HVAC system with air scrubber 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
$16,019
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
4.11%
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%
$320,380
$320.4K
Cap Rate 7%
$228,843
$228.8K
Cap Rate 9%
$177,989
$178.0K
Market Conditions
NOI Build-Up for 1,045 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
$30.7K $29.40/SF
− Vacancy
−$1.6K −$1.53/SF
EGI
$29.1K $27.87/SF
− OpEx
−$13.1K −$12.54/SF
NOI
$16.0K $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%
$320,380
Cap Rate 7%
$228,843
Cap Rate 9%
$177,989
Alternative Uses
Best Use
Apartment 5plus
$228.8K
$200.2K – $267.0K
NOI $16,019 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$580.4K
$507.9K – $677.2K
NOI $40,630 @ 7.0% cap · market cap 10.43%
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 - One-bedroom condominium with a flexible den, renovated interiors, garage parking, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 5904 MOUNT EAGLE DRIVE Unit 711 Alexandria, VA.
What is the asking price?
The asking price for this property is $389,500.
What are key features of this property?
This property features: One‑bedroom unit with den or potential second bedroom and 1.5 baths; Renovated kitchen and primary bath with updated finishes; New HVAC system with air scrubber installed in 2025
