High-Rise Residential Income
For Sale
$629,500
11990 MARKET STREET Unit 1514, Reston, VA 20190
Two-bedroom condominium with floor-to-ceiling windows, a sunroom, and full-service building amenities.
Property Size1,169 SF
Price / SF$538.49
Days on Market17
Property Features for 11990 MARKET STREET Unit 1514
General Information
Standard status
Active
Size
1,169 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$6,758
Amenities
outdoor swimming pool
spa
fitness center
theatre/media room
conference room
owners' lounge
catering kitchen
library
outdoor grilling and seating area
massage room
24-hour front desk
Building Details
Building Size
1,169 SF
Year Built
2006
Listing Agency:
Hunt Country Sotheby's International Realty
(443) 254-5530
Listed By:
PETER A LEONARD-MORGAN · License #0225224949
(443) 254-5530
Source:
Kerishull
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 29 at 4:21PM
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 Hunt Country Sotheby's International Realty
Investment Insights
Based on property information with market context.
Set on the 15th floor of a 2006 residential tower, this 1,169-square-foot condominium offers two bedrooms, two bathrooms, and an open living arrangement oriented toward expansive west-facing views. The kitchen includes granite worktops, GE Profile stainless steel appliances, and gas cooking, while the living and dining areas connect to a bright sunroom. Each bedroom functions as a private suite with its own bathroom; the primary bath adds a soaking tub and separate glass shower. One assigned underground parking space conveys with the residence.
Building services include a 24-hour staffed reception desk and controlled entry, along with an outdoor pool and spa, fitness center, theater/media room, conference room, owners’ lounge, library, outdoor grilling and seating areas, and massage room. Reston Town Center provides restaurants, cafes, shops, entertainment, and seasonal events immediately outside. The W&OD Trail, Reston Hospital Center, CVS, Silver Line Metro, Dulles Toll Road, and Fairfax County Parkway are accessible, with Washington Dulles International Airport approximately 10 minutes away.
Building services include a 24-hour staffed reception desk and controlled entry, along with an outdoor pool and spa, fitness center, theater/media room, conference room, owners’ lounge, library, outdoor grilling and seating areas, and massage room. Reston Town Center provides restaurants, cafes, shops, entertainment, and seasonal events immediately outside. The W&OD Trail, Reston Hospital Center, CVS, Silver Line Metro, Dulles Toll Road, and Fairfax County Parkway are accessible, with Washington Dulles International Airport approximately 10 minutes away.
Key Highlights
- 1,169‑square‑foot condominium on the 15th floor
- Two bedrooms and two bathrooms, each bedroom arranged as a private suite
- West‑facing outlooks with floor‑to‑ceiling windows and a separate sunroom
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
$18,232
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
2.90%
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%
$364,640
$364.6K
Cap Rate 7%
$260,457
$260.5K
Cap Rate 9%
$202,578
$202.6K
Market Conditions
NOI Build-Up for 1,169 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
$35.5K $30.36/SF
− Vacancy
−$2.3K −$2.00/SF
EGI
$33.1K $28.36/SF
− OpEx
−$14.9K −$12.76/SF
NOI
$18.2K $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%
$364,640
Cap Rate 7%
$260,457
Cap Rate 9%
$202,578
Alternative Uses
Best Use
Apartment 5plus
$260.5K
$227.9K – $303.9K
NOI $18,232 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$366.4K
$320.6K – $427.4K
NOI $25,645 @ 7.0% cap · market cap 4.07%
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
3,894
Businesses Nearby
Explore this area
Business Placement
Demographics for 20190, VA
20,957
Population
12,180
Households
1.7
Avg Household Size
40
Median Age
72%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,763
Density / Sq Mi
$126,928
Median Household Income
$83,750
Median Earnings
$2,241
Median Rent
$568,500
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 floor-to-ceiling windows, a sunroom, and full-service building amenities.
Where is this residential income property located?
The property is located at 11990 MARKET STREET Unit 1514 Reston, VA.
What is the asking price?
The asking price for this property is $629,500.
What are key features of this property?
This property features: 1,169‑square‑foot condominium on the 15th floor; Two bedrooms and two bathrooms, each bedroom arranged as a private suite; West‑facing outlooks with floor‑to‑ceiling windows and a separate sunroom
