Residential Income Property with
For Sale
$185,000
8 S VAN DORN STREET Unit 203, Alexandria, VA 22304
Open-concept condominium residence with updated finishes, wooded views, and extensive community amenities.
Property Size750 SF
Days on Market36
Property Features for 8 S VAN DORN STREET Unit 203
General Information
Standard status
Active
Size
750 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,218
Amenities
complimentary shuttle to Van Dorn metro
on-site convenience store
deli
child day care
resort-style outdoor pools
BBQ and picnic area
playground
sports courts
dog park
clubhouse
24 hour fitness center
sauna
business center
movie theater
game room
secure package pickup
private balcony
Building Details
Building Size
750 SF
Year Built
1963
Listing Agency:
Samson Properties
(703) 462-0700
Listed By:
Darren E Robertson · License #0225208341
(703) 462-0700
Source:
Dcmetrorealtyteam
Added: Jul 10
Changed: Aug 11
Last Checked: Aug 13 at 11:22AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This second-floor condominium residence at West End Condominium features an open-concept living and dining area framed by floor-to-ceiling windows, plus a spacious private balcony with wooded views. The updated kitchen includes quartz countertops, shaker cabinets, an undermount sink, and LVP flooring. Ample closet space, plush carpeting, and neutral paint complete the interior. The unit includes one resident parking permit and one guest permit, with additional guest passes available by request.
The condominium fee includes community amenities and standard utilities except electricity. Residents have access to two outdoor pools, a BBQ and picnic area with gas grills, playground, sports courts, dog park, 24-hour fitness center with sauna, business center, movie theater, game room, and Amazon Hub lockers. The community also offers a complimentary shuttle to Van Dorn Metro, along with an on-site convenience store, deli, and child day care. The property is located at 8 S Van Dorn Street in Alexandria’s West End, with connections to I-395, I-495, bus and metro service, and nearby shops and dining.
The condominium fee includes community amenities and standard utilities except electricity. Residents have access to two outdoor pools, a BBQ and picnic area with gas grills, playground, sports courts, dog park, 24-hour fitness center with sauna, business center, movie theater, game room, and Amazon Hub lockers. The community also offers a complimentary shuttle to Van Dorn Metro, along with an on-site convenience store, deli, and child day care. The property is located at 8 S Van Dorn Street in Alexandria’s West End, with connections to I-395, I-495, bus and metro service, and nearby shops and dining.
Key Highlights
- Second‑floor condominium with floor‑to‑ceiling windows and a private balcony
- Updated kitchen with quartz countertops, shaker cabinets, undermount sink, and LVP flooring
- Two resident parking permits included: one resident permit and one guest permit
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
$11,497
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
6.21%
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%
$229,940
$229.9K
Cap Rate 7%
$164,243
$164.2K
Cap Rate 9%
$127,744
$127.7K
Market Conditions
NOI Build-Up for 750 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
$22.1K $29.40/SF
− Vacancy
−$1.1K −$1.53/SF
EGI
$20.9K $27.87/SF
− OpEx
−$9.4K −$12.54/SF
NOI
$11.5K $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%
$229,940
Cap Rate 7%
$164,243
Cap Rate 9%
$127,744
Alternative Uses
Best Use
Apartment 5plus
$164.2K
$143.7K – $191.6K
NOI $11,497 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$416.6K
$364.5K – $486.0K
NOI $29,160 @ 7.0% cap · market cap 15.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,287
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 - Open-concept condominium residence with updated finishes, wooded views, and extensive community amenities.
Where is this residential income property located?
The property is located at 8 S VAN DORN STREET Unit 203 Alexandria, VA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Second‑floor condominium with floor‑to‑ceiling windows and a private balcony; Updated kitchen with quartz countertops, shaker cabinets, undermount sink, and LVP flooring; Two resident parking permits included: one resident permit and one guest permit
