Two-Bedroom Condominium
For Sale
$322,500
1403 NORTHGATE Unit 1B, Reston, VA 20190
The association fee covers utilities and common-area maintenance, with pool, tennis courts, and playgrounds available to residents.
Property Size956 SF
Price / SF$337.34
Days on Market56
Property Features for 1403 NORTHGATE Unit 1B
General Information
Standard status
Active
Size
956 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,693
Amenities
built-in microwave
dishwasher
refrigerator
stacked washer/dryer
outdoor pool
tennis courts
playgrounds
jogging/biking paths
Building Details
Building Size
956 SF
Year Built
1971
Construction
garden-style
Listing Agency:
RE/MAX Gateway, LLC
Listed By:
Zinta K. Rodgers-Rickert · License #0225165865
(703) 304-1150
Source:
Horsefarmsandcountryhomes
Added: Sep 10
Changed: Nov 2
Last Checked: Nov 3 at 7:41AM
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 RE/MAX Gateway, LLC
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Investment Insights
Based on property information with market context.
This 956-square-foot condominium unit has two bedrooms and two bathrooms. Built in 1971, the garden-style residence features Colonial architecture, a kitchen with a built-in microwave, dishwasher, and refrigerator, plus a stacked washer and dryer.
Community amenities include an outdoor pool, tennis courts, and playgrounds. The association fee includes water, sewer, heat, gas, electricity, common-area maintenance, snow removal, and trash service. The unit also has two designated parking spaces and access to public transportation.
Community amenities include an outdoor pool, tennis courts, and playgrounds. The association fee includes water, sewer, heat, gas, electricity, common-area maintenance, snow removal, and trash service. The unit also has two designated parking spaces and access to public transportation.
Key Highlights
- 956‑square‑foot unit with two bedrooms and two bathrooms
- Built in 1971; garden‑style apartment with Colonial architecture
- Kitchen includes a built‑in microwave, dishwasher, and refrigerator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,310
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,200
$286.2K
Cap Rate 7%
$204,429
$204.4K
Cap Rate 9%
$159,000
$159.0K
Market Conditions
NOI Build-Up for 956 SF
Gross rent
$27.5K $28.80/SF
− Vacancy
−$1.5K −$1.58/SF
EGI
$26.0K $27.22/SF
− OpEx
−$11.7K −$12.25/SF
NOI
$14.3K $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%
$286,200
Cap Rate 7%
$204,429
Cap Rate 9%
$159,000
Alternative Uses
Best Use
Apartment 5plus
$204.4K
$178.9K – $238.5K
NOI $14,310 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.01M
$3.51M – $4.68M
NOI $280,512 @ 7.0% cap · market cap 86.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The association fee covers utilities and common-area maintenance, with pool, tennis courts, and playgrounds available to residents.
Where is this residential income property located?
The property is located at 1403 NORTHGATE Unit 1B Reston, VA.
What is the asking price?
The asking price for this property is $322,500.
What are key features of this property?
This property features: 956‑square‑foot unit with two bedrooms and two bathrooms; Built in 1971; garden‑style apartment with Colonial architecture; Kitchen includes a built‑in microwave, dishwasher, and refrigerator
