Two-Level Residential Income
For Sale
$499,999
11506 SPERRIN CIRCLE Unit 405, Fairfax, VA 22030
Loft-style condominium with flexible living space, private outdoor area, and dedicated parking.
Property Size1,382 SF
Price / SF$361.79
Days on Market24
Property Features for 11506 SPERRIN CIRCLE Unit 405
General Information
Standard status
Active
Size
1,382 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,276
Amenities
private balcony
Building Details
Building Size
1,382 SF
Year Built
2003
Listing Agency:
Samson Properties
(202) 459-3417
Listed By:
Peter Haththotuwa · License #0225238442
(202) 459-3417
Source:
Kerishull
Added: Aug 9
Changed: Aug 31
Last Checked: Aug 31 at 12:52AM
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
Investment Insights
Based on property information with market context.
This two-level loft-style condominium at 11506 Sperrin Circle, Unit 405, offers three bedrooms, three full bathrooms, and 1,382 square feet of interior space. The open layout is complemented by high ceilings and strong natural light, with a private balcony extending the usable living area. A 1-car garage and driveway parking are included. Built in 2003, the property provides a defined residential configuration suitable for an income-property portfolio.
The location places Wegmans within walking distance, while I-66 is only minutes away. Shopping and dining options are also nearby, adding convenience for occupants and supporting the property's residential appeal.
The location places Wegmans within walking distance, while I-66 is only minutes away. Shopping and dining options are also nearby, adding convenience for occupants and supporting the property's residential appeal.
Key Highlights
- Three‑bedroom, three‑full‑bath condominium with 1,382 square feet
- Two‑level loft‑style layout with high ceilings and abundant natural light
- Private balcony adds outdoor space
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
$20,687
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
4.14%
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%
$413,740
$413.7K
Cap Rate 7%
$295,529
$295.5K
Cap Rate 9%
$229,856
$229.9K
Market Conditions
NOI Build-Up for 1,382 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
$39.8K $28.80/SF
− Vacancy
−$2.2K −$1.58/SF
EGI
$37.6K $27.22/SF
− OpEx
−$16.9K −$12.25/SF
NOI
$20.7K $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%
$413,740
Cap Rate 7%
$295,529
Cap Rate 9%
$229,856
Alternative Uses
Best Use
Apartment 5plus
$295.5K
$258.6K – $344.8K
NOI $20,687 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.79M
$5.07M – $6.76M
NOI $405,510 @ 7.0% cap · market cap 81.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Loft-style condominium with flexible living space, private outdoor area, and dedicated parking.
Where is this residential income property located?
The property is located at 11506 SPERRIN CIRCLE Unit 405 Fairfax, VA.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Three‑bedroom, three‑full‑bath condominium with 1,382 square feet; Two‑level loft‑style layout with high ceilings and abundant natural light; Private balcony adds outdoor space
