Updated Residential Income
For Sale
$419,900
6481 CHEYENNE DRIVE Unit 102, Alexandria, VA 22312
Two-bedroom condominium with a flexible den, private patio, refreshed finishes, and community amenities.
Property Size1,307 SF
Days on Market17
Property Features for 6481 CHEYENNE DRIVE Unit 102
General Information
Standard status
Active
Size
1,307 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,881
Building Details
Building Size
1,307 SF
Year Built
1998
Listing Agency:
Serhant
Listed By:
Katherine Massetti · License #0225233021
(703) 261-9260
Source:
Dcmetrorealtyteam
Added: Sep 20
Changed: Oct 5
Last Checked: Oct 5 at 11:16PM
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 Serhant
Investment Insights
Based on property information with market context.
This residential income property is a 2-bedroom, 2-bath condominium with a bonus den and walk-out patio. Interior improvements include luxury vinyl plank flooring, carpet, and quartz kitchen countertops completed in 2026, along with stainless steel appliances installed in 2021. The kitchen provides substantial cabinetry and preparation space, while the living and dining areas open directly to the patio. The primary suite includes two closets, including a walk-in, and an en-suite bathroom with a soaking tub and separate walk-in shower. A second bedroom and full bath complete the main accommodation, with the den offering additional interior flexibility.
The property includes one assigned parking space, an additional parking pass, and visitor parking. Community amenities include an outdoor pool, community center, playgrounds, and dog park. Nature trails are nearby, and the home offers access to major commuter routes serving Alexandria and the surrounding Northern Virginia area. The condominium was built in 1998.
The property includes one assigned parking space, an additional parking pass, and visitor parking. Community amenities include an outdoor pool, community center, playgrounds, and dog park. Nature trails are nearby, and the home offers access to major commuter routes serving Alexandria and the surrounding Northern Virginia area. The condominium was built in 1998.
Key Highlights
- 2‑bedroom, 2‑bath condominium with bonus den and walk‑out patio
- Luxury vinyl plank flooring, carpet, and quartz countertops completed in 2026
- Stainless steel appliances installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,035
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,700
$400.7K
Cap Rate 7%
$286,214
$286.2K
Cap Rate 9%
$222,611
$222.6K
Market Conditions
NOI Build-Up for 1,307 SF
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 Rate 5%
$400,700
Cap Rate 7%
$286,214
Cap Rate 9%
$222,611
Alternative Uses
Best Use
Apartment 5plus
$286.2K
$250.4K – $333.9K
NOI $20,035 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$725.9K
$635.2K – $846.9K
NOI $50,816 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
Explore this area
Business Placement
Demographics for 22312, VA
30,447
Population
11,191
Households
2.7
Avg Household Size
36
Median Age
53%
College-Educated
92%
High-School Grad
5.1 sq mi
ZIP Area
5,970
Density / Sq Mi
$105,044
Median Household Income
$53,471
Median Earnings
$2,009
Median Rent
$593,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with a flexible den, private patio, refreshed finishes, and community amenities.
Where is this residential income property located?
The property is located at 6481 CHEYENNE DRIVE Unit 102 Alexandria, VA.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium with bonus den and walk‑out patio; Luxury vinyl plank flooring, carpet, and quartz countertops completed in 2026; Stainless steel appliances installed in 2021
