Penthouse Residential Income
New
For Sale
$650,000
10328 SAGER AVENUE Unit 414, Fairfax, VA 22030
Open-plan penthouse residence with a private balcony, garage parking, and access to community fitness and meeting facilities.
Property Size1,560 SF
Price / SF$416.67
Days on Market2
Property Features for 10328 SAGER AVENUE Unit 414
General Information
Standard status
Active
Size
1,560 SF
Total Parking Spaces
2
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,615
Amenities
exercise room
meeting space
balcony
in-unit laundry
Building Details
Building Size
1,560 SF
Year Built
2003
Listing Agency:
Weichert, REALTORS
Listed By:
Kathryn B Lake · License #0225133087
(703) 625-2715
Source:
Barnesrealestatecompany
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 1:56PM
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 Weichert, REALTORS
Investment Insights
Based on property information with market context.
This penthouse residence offers 1,560 square feet arranged around an open living and dining area. The kitchen includes an island, built-in microwave, and gas range, while the primary suite features a soaking tub, separate shower, and walk-in closet. Wood flooring, ceiling fans, a full-size washer and dryer, and additional storage add practical function throughout the home. A private balcony extends the living area outdoors.
The property is located in Providence Square in Fairfax City, with shops and restaurants nearby. Residents have access to an exercise room, meeting space, maintained common areas, and two reserved garage parking spaces. Built in 2003, the unit combines a defined suite layout with shared community amenities and convenient daily access to surrounding retail and dining.
The property is located in Providence Square in Fairfax City, with shops and restaurants nearby. Residents have access to an exercise room, meeting space, maintained common areas, and two reserved garage parking spaces. Built in 2003, the unit combines a defined suite layout with shared community amenities and convenient daily access to surrounding retail and dining.
Key Highlights
- 1,560 SF penthouse unit with open living and dining areas
- Kitchen includes an island, built‑in microwave, and gas range
- Primary suite features a soaking tub, separate shower, and walk‑in closet
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
$23,351
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
3.59%
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%
$467,020
$467.0K
Cap Rate 7%
$333,586
$333.6K
Cap Rate 9%
$259,456
$259.5K
Market Conditions
NOI Build-Up for 1,560 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
$44.9K $28.80/SF
− Vacancy
−$2.5K −$1.58/SF
EGI
$42.5K $27.22/SF
− OpEx
−$19.1K −$12.25/SF
NOI
$23.4K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /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%
$467,020
Cap Rate 7%
$333,586
Cap Rate 9%
$259,456
Alternative Uses
Best Use
Apartment 5plus
$333.6K
$291.9K – $389.2K
NOI $23,351 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.54M
$5.72M – $7.63M
NOI $457,739 @ 7.0% cap · market cap 70.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,995
Businesses Nearby
Explore this area
Business Placement
Demographics for 22030, VA
60,431
Population
21,758
Households
2.8
Avg Household Size
34
Median Age
67%
College-Educated
94%
High-School Grad
19.4 sq mi
ZIP Area
3,115
Density / Sq Mi
$139,885
Median Household Income
$61,628
Median Earnings
$2,242
Median Rent
$700,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-plan penthouse residence with a private balcony, garage parking, and access to community fitness and meeting facilities.
Where is this residential income property located?
The property is located at 10328 SAGER AVENUE Unit 414 Fairfax, VA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,560 SF penthouse unit with open living and dining areas; Kitchen includes an island, built‑in microwave, and gas range; Primary suite features a soaking tub, separate shower, and walk‑in closet
