Neighborhood
181 E Reed Ave Apt 108, Alexandria, VA 22305
2 beds · 2 baths · 1,193 sq ft · Lot: 19,633 sq ft · Residential Condominium · Last Sold: $515K in 2024 · Built: 2003
Est. Value:
$540K
Est. Rent:
$2.4K/month

181 E Reed Ave Apt 108 Alexandria, VA 22305

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2 beds · 2 baths · 1,193 sq ft · Lot Size: 19,633 sq ft · Residential Condominium · Potomac West
Est. Property Value: $540,343

Valued above Market MedianOwned for Less Than 5 YearsOwner Age 45 - 55

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181 E Reed Ave Apt 108 is in the Potomac West neighborhood of Alexandria, VA. It is located in Alexandria city County and ZIP code 22305. This Residential Condominium was built in 2003 and is approximately 22 years old. The residential condominium spans 1193 sq ft with 2 bedrooms and 2 bathrooms and sits on a 19633 sq ft lot. According to public records, it was last sold in 2024 for $515,000 and has a tax-assessed value of $491,613, which is $453 per sq ft. The Potomac West area of Alexandria has 152 residential homes with an average size of 970 sq ft. Analyze and compare real estate investment strategies for properties like this home at 181 E Reed Ave Apt 108 Alexandria, VA 22305 with Property Intel by Whitepages.

Investment Potential for 181 E Reed Ave Apt 108

The property has a current estimated value of $540,343, which is 59% above the neighborhood median, based on public records. It last sold on April 19, 2024 for $515K. Projected long-term
is $28,800 annually ($2,400 per month) with a 96% occupancy rate.

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Long-Term

Gross Rental
$28,800 per year($2,400 per month)
Net Operating Income
$*****View Net Operating Income
Cap Rate
****%View Cap Rate
Occupancy Rate
96%in 22305 zip code
 
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Owners & Occupancy for 181 E Reed Ave Apt 108

This property is owned by Damon A Subt. Owner contact information includes 12 phone numbers and 7 email addresses.

Property Owners

OccupationSystem Administrator Ii, Institute For Defense Analyses
Cell Phone(248) ***-****View Cell Phone
Residence**************
Landline(301) 570-5324
Distance from Property**********
Email Address*****@hotmail.comView Email
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Property Ownership Information

Purchase DateApril 19, 2024
Property Tax Amount$5,580 in 2024
Purchase Price$515,000

Occupancy

Current Occupancy*****View Occupancy
Resident 1************ age 50

Property Details for 181 E Reed Ave Apt 108

Property Details

Property Sq Ft

Living Area

1,193 sq ft

23% above market

Lot Size

19,633 sq ft

0% above market

Price Per Sq Ft

Living Area

$453 / sq ft

23% above market

Lot Size Area

$28 / sq ft

49% above market

Property condition, age, exterior, etc. for 181 E Reed…
Longitude: -77.052558 Latitude: 38.836794 Parcel Number (APN): 016.01-0A-108…
Mortgage originated on through lender: Bay Equity Llc for$******View Mortgage Details
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Market Benchmarks

Compare data for 181 E Reed Ave Apt 108 in Alexandria city County to the median in the neighborhood area and surrounding markets, where available.
View neighborhood benchmarks
Property
State
Difference
$540,343
$303,143
$237,200 (78%)
$*******
$470,726
$2,153,822 (458%)
YoY Price Change
****%
1.98%
148%
Year Built
2003
1987
16 years
Living Space
1,193 sq ft
1,127 sq ft
66 (6%)
$ Per Living Sq Ft
$453
$270
$183 (68%)
Lot Size
19,633 sq ft
4,790.5 sq ft
14842 (310%)
$ Per Lot Sq Ft
$28
$58
-$30 (-52%)

Net Operating Income
$*****
$18,874
-$3,422 (-18%)
Annual Revenue
$28,800
$28,200
$600 (2%)
$*****
$8,359
$4,989 (60%)
Net Operating Income
$*****
$18,874
-$3,422 (-18%)
Cap Rate
****%
6.37%
—
View Neighborhood Data
Home Value Comparison: Property vs. Local and Regional 2-Bed Residential Condominium Medians

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