Updated Residential Income
For Sale
$329,000
Pending
1127 HUNTMASTER TERRACE NE #202, Leesburg, VA 20176
Two-bedroom condominium with wooded views, updated systems, assigned parking, and access to Historic Old Town Leesburg.
Property Size1,003 SF
Days on Market45
Property Features for 1127 HUNTMASTER TERRACE NE #202
General Information
Standard status
Pending
Size
1,003 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Building Details
Building Size
1,003 SF
Year Built
1991
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Danny Lee Humphreys II · License #0225252232
(855) 450-0442
Source:
Kdrealtygroup.kw
Added: Jul 19
Changed: Aug 31
Last Checked: Aug 31 at 12:36PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This well-maintained condominium offers two bedrooms, two full bathrooms, wide-plank flooring in the main living areas, and a bright, functional layout. The kitchen includes ample cabinetry along with a new microwave and stove installed in 2025 and a dishwasher replaced in 2023. Both bedrooms have walk-in closets, while the primary suite includes a full en-suite bathroom. A new HVAC system was added in 2026, and the hot water heater was replaced in 2020. The washer was updated in 2020 as well.
The unit overlooks wooded surroundings and includes one assigned parking space, identified as #185. Residents may also obtain additional HOA parking permits. Mailbox #202 is included. The property is located minutes from Historic Old Town Leesburg, local shops, restaurants, major commuter routes, and everyday services. Built in 1991, the condominium combines established construction with substantial recent updates.
The unit overlooks wooded surroundings and includes one assigned parking space, identified as #185. Residents may also obtain additional HOA parking permits. Mailbox #202 is included. The property is located minutes from Historic Old Town Leesburg, local shops, restaurants, major commuter routes, and everyday services. Built in 1991, the condominium combines established construction with substantial recent updates.
Key Highlights
- Two‑bedroom, two‑full‑bath condominium with wooded views
- New HVAC system installed in 2026
- Kitchen appliances updated with a 2025 microwave and stove and a 2023 dishwasher
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
$15,643
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
4.75%
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%
$312,860
$312.9K
Cap Rate 7%
$223,471
$223.5K
Cap Rate 9%
$173,811
$173.8K
Market Conditions
NOI Build-Up for 1,003 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
$30.5K $30.36/SF
− Vacancy
−$2.0K −$2.00/SF
EGI
$28.4K $28.36/SF
− OpEx
−$12.8K −$12.76/SF
NOI
$15.6K $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%
$312,860
Cap Rate 7%
$223,471
Cap Rate 9%
$173,811
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.5K – $260.7K
NOI $15,643 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$314.3K
$275.0K – $366.7K
NOI $22,003 @ 7.0% cap · market cap 6.69%
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
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with wooded views, updated systems, assigned parking, and access to Historic Old Town Leesburg.
Where is this residential income property located?
The property is located at 1127 HUNTMASTER TERRACE NE #202 Leesburg, VA.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Two‑bedroom, two‑full‑bath condominium with wooded views; New HVAC system installed in 2026; Kitchen appliances updated with a 2025 microwave and stove and a 2023 dishwasher
