Updated Residential Income
For Sale
$325,900
Pending
1129 HUNTMASTER TERRACE NE #101, Leesburg, VA 20176
Main-level condominium with two bedrooms, two full baths, refreshed finishes, and direct access to a private outdoor patio.
Property Size1,003 SF
Days on Market14
Property Features for 1129 HUNTMASTER TERRACE NE #101
General Information
Standard status
Pending
Size
1,003 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Building Details
Building Size
1,003 SF
Year Built
1991
Listing Agency:
Keller Williams Realty
Listed By:
Mark A Laing · License #0225227649
(703) 669-0099
Source:
Kdrealtygroup.kw
Added: Aug 21
Changed: Aug 31
Last Checked: Sep 2 at 1:31PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This main-level condominium presents a two-bedroom, two-full-bath layout within the Fox Chase at Exeter community. Built in 1991, the residence has been refreshed with luxury vinyl plank flooring, new interior paint, granite countertops, stainless steel kitchen appliances, renovated bathrooms, updated ceiling fans, and a replacement glass patio door. The living room connects directly to the patio, extending the usable living area outdoors.
The property is located near Downtown Leesburg, Shenandoah Square, Battlefield Shopping Center, Leesburg Premium Outlets, Village at Leesburg, and local dining and entertainment. Route 7, Route 15, and the Dulles Greenway provide regional connections through Loudoun County, Northern Virginia, and the Washington, D.C. metropolitan area. The Loudoun Gateway and Ashburn Metro stations are approximately 13.5 miles away, while Washington Dulles International Airport is approximately 18 miles away.
The property is located near Downtown Leesburg, Shenandoah Square, Battlefield Shopping Center, Leesburg Premium Outlets, Village at Leesburg, and local dining and entertainment. Route 7, Route 15, and the Dulles Greenway provide regional connections through Loudoun County, Northern Virginia, and the Washington, D.C. metropolitan area. The Loudoun Gateway and Ashburn Metro stations are approximately 13.5 miles away, while Washington Dulles International Airport is approximately 18 miles away.
Key Highlights
- Two‑bedroom, two‑full‑bath main‑level condominium
- Built in 1991 and updated with luxury vinyl plank flooring, paint, and renovated bathrooms
- Granite kitchen counters and stainless steel appliances
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
4.80%
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 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$314.3K
$275.0K – $366.7K
NOI $22,003 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
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 - Main-level condominium with two bedrooms, two full baths, refreshed finishes, and direct access to a private outdoor patio.
Where is this residential income property located?
The property is located at 1129 HUNTMASTER TERRACE NE #101 Leesburg, VA.
What is the asking price?
The asking price for this property is $325,900.
What are key features of this property?
This property features: Two‑bedroom, two‑full‑bath main‑level condominium; Built in 1991 and updated with luxury vinyl plank flooring, paint, and renovated bathrooms; Granite kitchen counters and stainless steel appliances
