Updated Residential Income
For Sale
$275,000
Pending
1124 HUNTMASTER TERRACE NE #201, Leesburg, VA 20176
Condominium residence with updated mechanical and kitchen finishes plus access to recreational amenities.
Property Size917 SF
Days on Market28
Property Features for 1124 HUNTMASTER TERRACE NE #201
General Information
Standard status
Pending
Size
917 SF
Property subtype
Apartment
Building Details
Building Size
917 SF
Year Built
1992
Listing Agency:
Corcoran McEnearney
Listed By:
Ryan C Clegg · License #0225215866
(703) 777-1170
Source:
Kdrealtygroup.kw
Added: Aug 7
Changed: Sep 1
Last Checked: Sep 2 at 1:27PM
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 Corcoran McEnearney
Investment Insights
Based on property information with market context.
This condominium residence at 1124 Huntmaster Terrace NE #201 was built in 1992 and includes a new HVAC system installed in 2023. The kitchen received new laminate flooring during 2023, providing a refreshed finish in a key living area. High-speed Comcast internet service is also available.
Residents have access to a neighborhood pool, basketball and tennis courts, playgrounds, and walking paths. The property is located in Leesburg near historic Downtown Leesburg, Target, Costco, and major commuter routes, providing access to shopping, recreation, and transportation connections.
Residents have access to a neighborhood pool, basketball and tennis courts, playgrounds, and walking paths. The property is located in Leesburg near historic Downtown Leesburg, Target, Costco, and major commuter routes, providing access to shopping, recreation, and transportation connections.
Key Highlights
- New HVAC system installed in 2023
- New laminate kitchen flooring added in 2023
- Condominium built in 1992
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
$14,301
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
5.20%
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%
$286,020
$286.0K
Cap Rate 7%
$204,300
$204.3K
Cap Rate 9%
$158,900
$158.9K
Market Conditions
NOI Build-Up for 917 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
$27.8K $30.36/SF
− Vacancy
−$1.8K −$2.00/SF
EGI
$26.0K $28.36/SF
− OpEx
−$11.7K −$12.76/SF
NOI
$14.3K $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%
$286,020
Cap Rate 7%
$204,300
Cap Rate 9%
$158,900
Alternative Uses
Best Use
Apartment 5plus
$204.3K
$178.8K – $238.4K
NOI $14,301 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$287.4K
$251.5K – $335.3K
NOI $20,117 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
552
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with updated mechanical and kitchen finishes plus access to recreational amenities.
Where is this residential income property located?
The property is located at 1124 HUNTMASTER TERRACE NE #201 Leesburg, VA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: New HVAC system installed in 2023; New laminate kitchen flooring added in 2023; Condominium built in 1992
