Residential Income Property with
For Sale
$400,000
6931 MARY CAROLINE CIRCLE Unit I, Alexandria, VA 22310
The two-level condo includes a private balcony, in-unit laundry, and access to community recreation amenities.
Property Size980 SF
Days on Market8
Property Features for 6931 MARY CAROLINE CIRCLE Unit I
General Information
Standard status
Active
Size
980 SF
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
$4,237
Amenities
pool
tennis courts
exercise facilities
community center
clubhouse
balcony
fireplace
Building Details
Building Size
980 SF
Year Built
1988
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Valerie G Hardee · License #0225086363
(703) 401-9169
Source:
Dcmetrorealtyteam
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 5 at 11:24PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1988-built, two-level condo has two bedrooms and two full bathrooms. The living, dining, and kitchen areas connect in an open layout, with a wood-burning fireplace in the main living space. The kitchen features granite countertops and stainless steel appliances; the refrigerator, stove, and dishwasher were replaced in 2017. Flooring was installed the same year, while a microwave, faucet, and garbage disposal were added in 2026. A private balcony and washer and dryer complete the unit.
Residents of Manchester Lakes have access to an outdoor pool, tennis courts, exercise facilities, a community center, and a clubhouse. The property includes assigned parking along with additional unassigned spaces. Shopping, dining, bus service, and major commuter routes are nearby, and the Franconia-Springfield Metro is less than three miles away.
Residents of Manchester Lakes have access to an outdoor pool, tennis courts, exercise facilities, a community center, and a clubhouse. The property includes assigned parking along with additional unassigned spaces. Shopping, dining, bus service, and major commuter routes are nearby, and the Franconia-Springfield Metro is less than three miles away.
Key Highlights
- Two bedrooms and two full bathrooms across two levels
- Wood‑burning fireplace and private balcony
- Kitchen with granite counters and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,023
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,460
$300.5K
Cap Rate 7%
$214,614
$214.6K
Cap Rate 9%
$166,922
$166.9K
Market Conditions
NOI Build-Up for 980 SF
Gross rent
$28.8K $29.40/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$27.3K $27.87/SF
− OpEx
−$12.3K −$12.54/SF
NOI
$15.0K $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%
$300,460
Cap Rate 7%
$214,614
Cap Rate 9%
$166,922
Alternative Uses
Best Use
Apartment 5plus
$214.6K
$187.8K – $250.4K
NOI $15,023 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$544.3K
$476.3K – $635.0K
NOI $38,102 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
847
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-level condo includes a private balcony, in-unit laundry, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 6931 MARY CAROLINE CIRCLE Unit I Alexandria, VA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms across two levels; Wood‑burning fireplace and private balcony; Kitchen with granite counters and stainless steel appliances
