815 N Patrick St UNIT 406, Alexandria, VA, 22314 | $617/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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815 N Patrick St UNIT 406, Alexandria, VA, 22314 | $617/mo Cash Flow | Ziffy

For Sale

Listed for sale 2 days ago

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Rental property for sale in Alexandria at 815 N Patrick St UNIT 406, Alexandria, VA, 22314 generates $3,307/mo in rent and, after a $2,203/mo payment, leaves $617/mo in cash flow. Total monthly income is $3,307/mo, and annual cash flow is $7,398/yr on $149,175 invested. Return on cash invested sits at 24.87% in year one, and rental yield is 8.82% on a $450,000 entry. Equity gained on principal adds $2,904/yr, while 5% annual appreciation builds toward $124,327 over five years. Five-year ROI reaches 129.18% and total cumulative return in cash sums $192,702. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,307/mo property income rather than buyer’s personal income.

Condo

Built in 2013

N/A lot

$N/A/sqft

No HOA

More details about the property

Located in highly desirable North Old Town, this top-floor 1 bedroom + den condo offers bright, modern living in the LEED-certified Old Town Commons community. The open layout features hardwood floors, large windows, and a sleek kitchen with espresso cabinets, granite counters, stainless steel appliances, and a spacious eat-in island. The bedroom includes two closets and an attached full bath with granite finishes. A separate den provides flexible space for an office, guest room, or gym. The unit is freshly painted, with new carpet in the bedroom and den, plus an in-unit washer and dryer. Parking space: #25 Enjoy a reserved garage space (#25), an additional storage unit, and low condo fees that cover professional management, building maintenance, trash/snow removal, secure parking, and bike storage. The Charles Houston Recreation Centeroffering a pool, gym, and moreis just across the street. Walk to King Street, Del Rays The Avenue, new shops and restaurants in North Old Town, dog parks, the farmers market, and the waterfront. Convenient to Braddock Metro, Reagan National Airport, Amazon HQ2, grocery stores, and local trails.

Neighborhood Data

Neighborhood data shown for ZIP Code: 22314, Alexandria, VA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	24,331 (100%)
Owner Occupied HU	9,049 (37.2%)
Renter Occupied HU	12,678 (52.1%)
Vacant Housing Units	2,604 (10.7%)
Median Home Value	$961,850
Average Home Value	$1,048,390