End-Unit Residential Income
For Sale
$632,500
Pending
5904 MOUNT EAGLE DRIVE Unit 718, Alexandria, VA 22303
Renovated three-bedroom condominium with two full baths, garage parking, screened porches, and extensive community amenities.
Property Size1,695 SF
Days on Market32
Property Features for 5904 MOUNT EAGLE DRIVE Unit 718
General Information
Standard status
Pending
Size
1,695 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,179
Amenities
shuttle service
EV charging stations
indoor swimming pool
outdoor swimming pool
fitness center
tennis courts
pickleball
basketball
walking trails
picnic area
playground
bowling alley
game room
hobby rooms
party rooms
on-site restaurant/cafe
convenience store
hair salon
dog park
gated community
24-hour security
commercial laundry
Building Details
Building Size
1,695 SF
Year Built
1986
Listing Agency:
RE/MAX Allegiance
Listed By:
Greg M Culbertson · License #0225153432
(703) 795-6444
Source:
Barnesrealestatecompany
Added: Aug 6
Changed: Sep 4
Last Checked: Sep 4 at 11:35AM
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 end-unit residential income property at 5904 Mount Eagle Drive, Unit 718, includes three bedrooms, two full baths, and approximately 1,885 square feet of living space. The interior offers a renovated kitchen and bathrooms, wood flooring, crown molding, built-in living room shelving, two screened sun rooms, walk-in closets in each bedroom, in-unit laundry, and dedicated basement storage. A two-zone HVAC system was installed in 2025. The unit also conveys garage parking in Building 5904, Level B2, parking space 104, with additional unassigned lot parking available.
Montebello is a gated, predominantly wooded community in Alexandria with approximately 35 acres of grounds. Residents have access to shuttle service or a 10-minute walk to Metro, indoor and outdoor swimming pools, fitness facilities, tennis and pickleball courts, walking trails, EV charging stations, a restaurant and cafe bar, convenience retail, and on-site management and maintenance. The community also includes a dog park, playground, bowling alley, and 24-hour gate and grounds patrol.
Montebello is a gated, predominantly wooded community in Alexandria with approximately 35 acres of grounds. Residents have access to shuttle service or a 10-minute walk to Metro, indoor and outdoor swimming pools, fitness facilities, tennis and pickleball courts, walking trails, EV charging stations, a restaurant and cafe bar, convenience retail, and on-site management and maintenance. The community also includes a dog park, playground, bowling alley, and 24-hour gate and grounds patrol.
Key Highlights
- Three‑bedroom, two‑full‑bath end unit with approximately 1,885 square feet of living space
- Renovated kitchen and bathrooms with wood flooring and crown molding
- Two screened sun rooms, including a private primary‑bedroom porch
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
$28,895
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
4.57%
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%
$577,900
$577.9K
Cap Rate 7%
$412,786
$412.8K
Cap Rate 9%
$321,056
$321.1K
Market Conditions
NOI Build-Up for 1,885 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
$55.4K $29.40/SF
− Vacancy
−$2.9K −$1.53/SF
EGI
$52.5K $27.87/SF
− OpEx
−$23.6K −$12.54/SF
NOI
$28.9K $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%
$577,900
Cap Rate 7%
$412,786
Cap Rate 9%
$321,056
Alternative Uses
Best Use
Apartment 5plus
$412.8K
$361.2K – $481.6K
NOI $28,895 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.05M
$916.1K – $1.22M
NOI $73,289 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
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 - Renovated three-bedroom condominium with two full baths, garage parking, screened porches, and extensive community amenities.
Where is this residential income property located?
The property is located at 5904 MOUNT EAGLE DRIVE Unit 718 Alexandria, VA.
What is the asking price?
The asking price for this property is $632,500.
What are key features of this property?
This property features: Three‑bedroom, two‑full‑bath end unit with approximately 1,885 square feet of living space; Renovated kitchen and bathrooms with wood flooring and crown molding; Two screened sun rooms, including a private primary‑bedroom porch
