Condominium with Private
12938 GRAYS POINTE ROAD Unit 12938A, Fairfax, VA 22033
For Sale
$317,500
The 1986 residence includes an updated kitchen, in-unit laundry and access to a community pool.
Property Size763 SF
Price / SF$416.12
Days on Market47
Property Features for 12938 GRAYS POINTE ROAD Unit 12938A
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
community pool
assigned parking
in-unit washer and dryer
private patio
wood-burning fireplace
Building Details
Building Size
Year Built
Listing Agency:
Pearson Smith Realty, LLC
Listed By:
Stephanie Mc Duffy · License #0225214685
(703) 789-3389
Source:
Catoctinproperties
Added: Sep 24
Changed: Nov 8
Last Checked: Nov 8 at 4:58PM
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 Pearson Smith Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 763-square-foot condominium has one bedroom and one bathroom. Interior features include an updated kitchen with granite countertops and stainless steel appliances, a wood-burning fireplace, and an in-unit washer and dryer. A private patio faces green space. The community also offers pool access and assigned parking.
The property is in Fairfax, near shopping and dining, Fair Lakes, Fair Oaks Mall, Route 50, Fairfax County Parkway and I-66.
The property is in Fairfax, near shopping and dining, Fair Lakes, Fair Oaks Mall, Route 50, Fairfax County Parkway and I-66.
Key Highlights
- 763‑square‑foot condominium with one bedroom and one bathroom
- Updated kitchen with granite countertops and stainless steel appliances
- Wood‑burning fireplace and in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,421
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$228,420
$228.4K
Cap Rate 7%
$163,157
$163.2K
Cap Rate 9%
$126,900
$126.9K
Market Conditions
NOI Build-Up for 763 SF
Gross rent
$22.0K $28.80/SF
− Vacancy
−$1.2K −$1.58/SF
EGI
$20.8K $27.22/SF
− OpEx
−$9.3K −$12.25/SF
NOI
$11.4K $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%
$228,420
Cap Rate 7%
$163,157
Cap Rate 9%
$126,900
Alternative Uses
Best Use
Apartment 5plus
$163.2K
$142.8K – $190.4K
NOI $11,421 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$423.8K
$370.8K – $494.4K
NOI $29,665 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Explore this area
Business Placement
Demographics for 22033, VA
40,692
Population
16,057
Households
2.5
Avg Household Size
37
Median Age
67%
College-Educated
95%
High-School Grad
7.8 sq mi
ZIP Area
5,217
Density / Sq Mi
$134,532
Median Household Income
$75,231
Median Earnings
$2,253
Median Rent
$621,600
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The 1986 residence includes an updated kitchen, in-unit laundry and access to a community pool.
Where is this residential income property located?
The property is located at 12938 GRAYS POINTE ROAD Unit 12938A Fairfax, VA.
What is the asking price?
The asking price for this property is $317,500.
What are key features of this property?
This property features: 763‑square‑foot condominium with one bedroom and one bathroom; Updated kitchen with granite countertops and stainless steel appliances; Wood‑burning fireplace and in‑unit washer and dryer
