Residential Income Property with
For Sale
$450,000
19385 CYPRESS RIDGE TER #920, Leesburg, VA 20176
LEESBURG, VA
Property Size1,475 SF
Price / SF$305.08
Days on Market210
Property Features for 19385 CYPRESS RIDGE TER #920
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1
Subdivision
LANSDOWNE WOODS
Elementary school district
LOUDOUN COUNTY PUBLIC SCHOOLS
Middle school district
LOUDOUN COUNTY PUBLIC SCHOOLS
High school district
LOUDOUN COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
clubhouse
fitness center
indoor pool
sun deck
saunas
restaurant
woodshop
art studio
tennis courts
walking paths
garden plots
Building Details
Year built
1998
Listing Agency:
Reston
(703) 437-3800
Listed By:
Karen Kell
Added: Feb 28
Changed: Sep 24
Last Checked: Sep 26 at 6:06PM
MLS# VALO2107774
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 19385 Cypress Ridge Ter #920 in Leesburg, this 1,475-square-foot condominium offers three bedrooms and two bathrooms on the 9th floor. The interior includes an open living area, dining room, sunroom, private primary suite, walk-in closet with organizer, and an ensuite bathroom with a separate shower, dual-sink vanity, and tub. The residence also includes two additional bedrooms, a second bathroom, and organized closet storage.
Residents of Lansdowne Woods have access to a 48,000-square-foot, two-story clubhouse with a fitness center, indoor pool, sun deck, saunas, restaurant, woodshop, and art studio. Additional community amenities include a summer patio, tennis courts, walking paths, and garden plots. The home was built in 1998 and overlooks the Virginia landscape from its elevated position.
Residents of Lansdowne Woods have access to a 48,000-square-foot, two-story clubhouse with a fitness center, indoor pool, sun deck, saunas, restaurant, woodshop, and art studio. Additional community amenities include a summer patio, tennis courts, walking paths, and garden plots. The home was built in 1998 and overlooks the Virginia landscape from its elevated position.
Key Highlights
- 1,475‑square‑foot condominium with 3 bedrooms and 2 bathrooms
- 9th‑floor residence with 270‑degree views of the Virginia landscape
- Sunroom connected to the open living and dining areas
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
$23,004
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
5.11%
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%
$460,080
$460.1K
Cap Rate 7%
$328,629
$328.6K
Cap Rate 9%
$255,600
$255.6K
Market Conditions
NOI Build-Up for 1,475 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
$44.8K $30.36/SF
− Vacancy
−$3.0K −$2.00/SF
EGI
$41.8K $28.36/SF
− OpEx
−$18.8K −$12.76/SF
NOI
$23.0K $15.60/SF
Area
Loudoun County, VA
Vacancy
6.60%
Lease Rate
$30.36 /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%
$460,080
Cap Rate 7%
$328,629
Cap Rate 9%
$255,600
Alternative Uses
Best Use
Apartment 5plus
$328.6K
$287.6K – $383.4K
NOI $23,004 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$462.3K
$404.5K – $539.3K
NOI $32,358 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,517
Businesses Nearby
Explore this area
Business Placement
Demographics for 20176, VA
51,777
Population
17,044
Households
3
Avg Household Size
38
Median Age
59%
College-Educated
94%
High-School Grad
54.9 sq mi
ZIP Area
943
Density / Sq Mi
$166,870
Median Household Income
$67,473
Median Earnings
$2,089
Median Rent
$702,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Spacious condominium residence in a 55+ community with expansive views, resort-style amenities, and a private primary suite.
Where is this residential income property located?
The property is located at 19385 CYPRESS RIDGE TER #920 Leesburg, VA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,475‑square‑foot condominium with 3 bedrooms and 2 bathrooms; 9th‑floor residence with 270‑degree views of the Virginia landscape; Sunroom connected to the open living and dining areas
