Renovated Residential Income
For Sale
$389,900
6301 STEVENSON AVENUE Unit 1110, Alexandria, VA 22304
Updated condo with an open layout, private balcony, in-unit laundry, and access to Alexandria, Washington, D.C., and Tysons Corner.
Property Size1,250 SF
Price / SF$311.67
Days on Market81
Property Features for 6301 STEVENSON AVENUE Unit 1110
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1.00
Amenities
in-unit laundry
private balcony
Building Details
Building Size
1,250 SF
Year Built
1974
Listing Agency:
ListWithFreedom.com
(855) 456-4945
Listed By:
Ralph Marion Harvey III · License #0225244047
(855) 456-4945
Source:
Dcmetrorealtyteam
Added: Jun 4
Changed: Aug 20
Last Checked: Aug 22 at 10:43AM
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 ListWithFreedom.com
Investment Insights
Based on property information with market context.
This renovated residential income property is a two-bedroom, two-bath condominium with 1,251 square feet of living space. The interior features an open arrangement connecting the living and dining areas, along with updated cabinetry, quartz countertops, and stainless steel appliances in the kitchen. Both bedrooms are generously sized, and the primary suite includes a walk-in closet. A second full bathroom and in-unit laundry provide added functionality.
The residence includes a private balcony with sunset views and was built in 1974. Its Alexandria address provides access to Old Town Alexandria, Washington, D.C., and Tysons Corner, supporting convenient regional commuting and connectivity.
The residence includes a private balcony with sunset views and was built in 1974. Its Alexandria address provides access to Old Town Alexandria, Washington, D.C., and Tysons Corner, supporting convenient regional commuting and connectivity.
Key Highlights
- Renovated two‑bedroom, two‑bath condo with 1,251 square feet
- Updated kitchen with contemporary cabinetry, quartz countertops, and stainless steel appliances
- Private balcony with sunset views
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
$19,177
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
4.92%
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%
$383,540
$383.5K
Cap Rate 7%
$273,957
$274.0K
Cap Rate 9%
$213,078
$213.1K
Market Conditions
NOI Build-Up for 1,251 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
$36.8K $29.40/SF
− Vacancy
−$1.9K −$1.53/SF
EGI
$34.9K $27.87/SF
− OpEx
−$15.7K −$12.54/SF
NOI
$19.2K $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%
$383,540
Cap Rate 7%
$273,957
Cap Rate 9%
$213,078
Alternative Uses
Best Use
Apartment 5plus
$274.0K
$239.7K – $319.6K
NOI $19,177 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$694.8K
$608.0K – $810.7K
NOI $48,639 @ 7.0% cap · market cap 12.47%
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
1,632
Businesses Nearby
Explore this area
Business Placement
Demographics for 22304, VA
49,237
Population
24,654
Households
2
Avg Household Size
37
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
10,258
Density / Sq Mi
$97,629
Median Household Income
$64,929
Median Earnings
$1,934
Median Rent
$496,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with an open layout, private balcony, in-unit laundry, and access to Alexandria, Washington, D.C., and Tysons Corner.
Where is this residential income property located?
The property is located at 6301 STEVENSON AVENUE Unit 1110 Alexandria, VA.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Renovated two‑bedroom, two‑bath condo with 1,251 square feet; Updated kitchen with contemporary cabinetry, quartz countertops, and stainless steel appliances; Private balcony with sunset views
