Updated Residential Income
For Sale
$525,000
Pending
5904 MOUNT EAGLE DRIVE Unit 1415, Alexandria, VA 22303
Four-season enclosed balcony expands the living area with panoramic views from the 14th floor.
Property Size1,305 SF
Days on Market51
Property Features for 5904 MOUNT EAGLE DRIVE Unit 1415
General Information
Standard status
Pending
Size
1,305 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,421
Amenities
enclosed balcony
indoor pool
outdoor pool
fitness center
tennis court
pickleball court
bowling alley
cafe
convenience store
free weekday shuttle to Metro
24-hour gated security
Building Details
Building Size
1,305 SF
Year Built
1986
Listing Agency:
Weichert, REALTORS
Listed By:
Leslie J Rodriguez · License #0225143663
(703) 400-3010
Source:
Kerishull
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 29 at 3:18PM
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 Weichert, REALTORS
Investment Insights
Based on property information with market context.
This 1,305-square-foot residential income property occupies the 14th floor and features an open living and dining arrangement with an enclosed balcony framed by extensive glass. The kitchen has been opened to the main living area and includes a breakfast bar, wood cabinetry, granite countertops, stainless steel appliances, and a full-size washer and dryer concealed behind cabinetry. Updated flooring, lighting, two full baths, an oversized walk-in shower in the primary bath, generous closets, and additional storage complete the residence. A reserved garage space is included, with guest parking also available.
The property is located within Montebello, a gated community set across 35 wooded acres. Community amenities include indoor and outdoor pools, a fitness center, tennis and pickleball courts, a bowling alley, cafe, convenience store, 24-hour gated security, and a free weekday shuttle to the Metro. The residence was built in 1986.
The property is located within Montebello, a gated community set across 35 wooded acres. Community amenities include indoor and outdoor pools, a fitness center, tennis and pickleball courts, a bowling alley, cafe, convenience store, 24-hour gated security, and a free weekday shuttle to the Metro. The residence was built in 1986.
Key Highlights
- Enclosed four‑season balcony with panoramic 14th‑floor views
- 1,305‑square‑foot residence with an open living and dining layout
- Renovated kitchen with breakfast bar, granite counters, and stainless steel appliances
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
$20,005
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
3.81%
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%
$400,100
$400.1K
Cap Rate 7%
$285,786
$285.8K
Cap Rate 9%
$222,278
$222.3K
Market Conditions
NOI Build-Up for 1,305 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
$38.4K $29.40/SF
− Vacancy
−$2.0K −$1.53/SF
EGI
$36.4K $27.87/SF
− OpEx
−$16.4K −$12.54/SF
NOI
$20.0K $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%
$400,100
Cap Rate 7%
$285,786
Cap Rate 9%
$222,278
Alternative Uses
Best Use
Apartment 5plus
$285.8K
$250.1K – $333.4K
NOI $20,005 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$724.8K
$634.2K – $845.6K
NOI $50,738 @ 7.0% cap · market cap 9.66%
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 - Four-season enclosed balcony expands the living area with panoramic views from the 14th floor.
Where is this residential income property located?
The property is located at 5904 MOUNT EAGLE DRIVE Unit 1415 Alexandria, VA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Enclosed four‑season balcony with panoramic 14th‑floor views; 1,305‑square‑foot residence with an open living and dining layout; Renovated kitchen with breakfast bar, granite counters, and stainless steel appliances
