Two-Story Residential Income
For Sale
$395,000
13363 CONNOR DR #O, Centreville, VA 20120
CENTREVILLE, VA
Property Size1,238 SF
Price / SF$319.06
Days on Market10
Property Features for 13363 CONNOR DR #O
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2
Subdivision
STONEGATE AT FAIRCREST
Elementary school
POWELL
Middle school
LIBERTY
High school
CENTREVILLE
Elementary school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Middle school district
FAIRFAX COUNTY PUBLIC SCHOOLS
High school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
clubhouse
outdoor pool
fitness center
playground
gated
gas fireplace
private balcony
washer/dryer
Building Details
Year built
2002
Listing Agency:
Reston
(703) 437-3800
Listed By:
Mindy Conway
(301) 674-8893
Added: Sep 24
Changed: Sep 28
Last Checked: Oct 3 at 2:06AM
MLS# VAFX2341084
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story, penthouse-level condo offers 1,238 square feet with 2 bedrooms, 2 full bathrooms, and an upper-level loft. Vaulted ceilings, a gas fireplace, and a private balcony shape the main living area. The kitchen has updated appliances, while LVP flooring was installed in 2024. Both bedrooms include walk-in closets, and a full-size washer and dryer are in the unit. HVAC was updated in 2020 and the hot water heater in 2021.
Parking includes a private garage, one assigned space, and a visitor parking tag. Residents have access to a clubhouse, outdoor pool, fitness center, and playground within the gated community. Route 66, the Stringfellow Road HOV entrance, Route 28, and Route 29 provide area commuting connections. Schools listed for the property are Colin Powell Elementary, Liberty Middle, and Centreville High School.
Parking includes a private garage, one assigned space, and a visitor parking tag. Residents have access to a clubhouse, outdoor pool, fitness center, and playground within the gated community. Route 66, the Stringfellow Road HOV entrance, Route 28, and Route 29 provide area commuting connections. Schools listed for the property are Colin Powell Elementary, Liberty Middle, and Centreville High School.
Key Highlights
- 1,238‑square‑foot condo with 2 bedrooms, 2 full bathrooms, and an upper‑level loft
- Penthouse‑level, two‑story layout with vaulted ceilings and a private balcony
- LVP flooring installed in 2024; HVAC updated in 2020 and hot water heater in 2021
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
$18,531
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
4.69%
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%
$370,620
$370.6K
Cap Rate 7%
$264,729
$264.7K
Cap Rate 9%
$205,900
$205.9K
Market Conditions
NOI Build-Up for 1,238 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
$35.7K $28.80/SF
− Vacancy
−$2.0K −$1.58/SF
EGI
$33.7K $27.22/SF
− OpEx
−$15.2K −$12.25/SF
NOI
$18.5K $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%
$370,620
Cap Rate 7%
$264,729
Cap Rate 9%
$205,900
Alternative Uses
Best Use
Apartment 5plus
$264.7K
$231.6K – $308.9K
NOI $18,531 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.19M
$4.54M – $6.05M
NOI $363,257 @ 7.0% cap · market cap 91.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 20120, VA
42,697
Population
14,753
Households
2.9
Avg Household Size
38
Median Age
60%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
2,372
Density / Sq Mi
$149,844
Median Household Income
$71,167
Median Earnings
$2,244
Median Rent
$620,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The condo combines a loft, private balcony, and dedicated garage with access to community recreation amenities.
Where is this residential income property located?
The property is located at 13363 CONNOR DR #O Centreville, VA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,238‑square‑foot condo with 2 bedrooms, 2 full bathrooms, and an upper‑level loft; Penthouse‑level, two‑story layout with vaulted ceilings and a private balcony; LVP flooring installed in 2024; HVAC updated in 2020 and hot water heater in 2021
