Renovated Residential Income
For Sale
$524,999
11503 SPERRIN CIRCLE Unit 302, Fairfax, VA 22030
Two-bedroom condominium with updated finishes, dual fireplaces, and major system improvements.
Property Size1,348 SF
Price / SF$389.47
Days on Market55
Property Features for 11503 SPERRIN CIRCLE Unit 302
General Information
Standard status
Active
Size
1,348 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,563
Building Details
Building Size
1,348 SF
Year Built
2003
Listing Agency:
Samson Properties
Listed By:
Robert J Chew · License #0225277244
(410) 995-9600
Source:
Kerishull
Added: Aug 24
Changed: Oct 14
Last Checked: Oct 16 at 4:07PM
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 Samson Properties
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Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, two-bath condominium completed in 2003. Interior improvements include refreshed bathrooms with new fixtures and finishes, luxury vinyl plank flooring, updated interior paint, and a kitchen with quartz countertops. A jetted tub and two gas fireplaces add distinctive features to the living areas.
Major systems have also been upgraded, including HVAC replacement in 2023 and a new water heater in 2025. Kitchen and foyer flooring was completed in August 2026, adding to the property’s updated interior package.
Major systems have also been upgraded, including HVAC replacement in 2023 and a new water heater in 2025. Kitchen and foyer flooring was completed in August 2026, adding to the property’s updated interior package.
Key Highlights
- Two‑bedroom, two‑bath condominium
- Two fully remodeled bathrooms with new finishes and fixtures
- Quartz kitchen countertops and luxury vinyl plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,178
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$403,560
$403.6K
Cap Rate 7%
$288,257
$288.3K
Cap Rate 9%
$224,200
$224.2K
Market Conditions
NOI Build-Up for 1,348 SF
Gross rent
$38.8K $28.80/SF
− Vacancy
−$2.1K −$1.58/SF
EGI
$36.7K $27.22/SF
− OpEx
−$16.5K −$12.25/SF
NOI
$20.2K $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 Rate 5%
$403,560
Cap Rate 7%
$288,257
Cap Rate 9%
$224,200
Alternative Uses
Best Use
Apartment 5plus
$288.3K
$252.2K – $336.3K
NOI $20,178 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.65M
$4.94M – $6.59M
NOI $395,534 @ 7.0% cap · market cap 75.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,294
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with updated finishes, dual fireplaces, and major system improvements.
Where is this residential income property located?
The property is located at 11503 SPERRIN CIRCLE Unit 302 Fairfax, VA.
What is the asking price?
The asking price for this property is $524,999.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium; Two fully remodeled bathrooms with new finishes and fixtures; Quartz kitchen countertops and luxury vinyl plank flooring
