Two-Level Condo
For Sale
$440,000
6035 TERRAPIN PLACE Unit 303, Alexandria, VA 22310
Bright condominium with a balcony, fireplace, assigned parking, and access to community recreation amenities.
Property Size1,244 SF
Days on Market50
Property Features for 6035 TERRAPIN PLACE Unit 303
General Information
Standard status
Active
Size
1,244 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,788
Amenities
private balcony
laundry room
gas fireplace
outdoor pool
clubhouse
playground
Building Details
Building Size
1,244 SF
Year Built
1996
Listing Agency:
RLAH @properties
Listed By:
Madeline Irene Lussier · License #0225209956
(703) 220-3936
Source:
Dcmetrorealtyteam
Added: Sep 6
Changed: Oct 24
Last Checked: Oct 25 at 12:36AM
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 RLAH @properties
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Investment Insights
Based on property information with market context.
This two-level condominium at 6035 Terrapin Place, Unit 303, was built in 1996 and offers a two-bedroom, two-and-a-half-bath layout. The main living area combines dining and living space with large windows and a gas fireplace, while the kitchen provides substantial cabinet and counter space. A private balcony faces the common grounds and mature trees. The upper level includes a dedicated laundry room.
Assigned parking space 107 conveys with the residence. Community amenities include an outdoor pool, clubhouse, and playground. The property is in Alexandria, Virginia, with access to shopping, dining, Metro service, Kingstowne, and major commuter routes.
Assigned parking space 107 conveys with the residence. Community amenities include an outdoor pool, clubhouse, and playground. The property is in Alexandria, Virginia, with access to shopping, dining, Metro service, Kingstowne, and major commuter routes.
Key Highlights
- Two‑level condominium with 2 bedrooms and 2.5 baths
- Large windows, open living and dining area, and gas fireplace
- Private balcony overlooking common area and trees
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,069
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,380
$381.4K
Cap Rate 7%
$272,414
$272.4K
Cap Rate 9%
$211,878
$211.9K
Market Conditions
NOI Build-Up for 1,244 SF
Gross rent
$36.6K $29.40/SF
− Vacancy
−$1.9K −$1.53/SF
EGI
$34.7K $27.87/SF
− OpEx
−$15.6K −$12.54/SF
NOI
$19.1K $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 Rate 5%
$381,380
Cap Rate 7%
$272,414
Cap Rate 9%
$211,878
Alternative Uses
Best Use
Apartment 5plus
$272.4K
$238.4K – $317.8K
NOI $19,069 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$691.0K
$604.6K – $806.1K
NOI $48,367 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 22310, VA
29,611
Population
11,116
Households
2.7
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
6.7 sq mi
ZIP Area
4,420
Density / Sq Mi
$160,872
Median Household Income
$83,668
Median Earnings
$2,396
Median Rent
$627,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright condominium with a balcony, fireplace, assigned parking, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 6035 TERRAPIN PLACE Unit 303 Alexandria, VA.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two‑level condominium with 2 bedrooms and 2.5 baths; Large windows, open living and dining area, and gas fireplace; Private balcony overlooking common area and trees
