Two-Bedroom Residential
For Sale
$425,000
1511 N N POINT DRIVE Unit 304, Reston, VA 20194
Condo association services include water, lawn care, and snow removal.
Property Size1,191 SF
Price / SF$356.84
Days on Market30
Property Features for 1511 N N POINT DRIVE Unit 304
General Information
Standard status
Active
Size
1,191 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,528
Amenities
pool
tennis courts
bike trails
picnic area
baseball field
washer/dryer hookups
Building Details
Building Size
1,191 SF
Year Built
1999
Listing Agency:
Forsyth Real Estate Group
Listed By:
John T Forsyth · License #0225239663
(410) 588-6766
Source:
Canopy-re
Added: Oct 6
Changed: Nov 2
Last Checked: Nov 3 at 6:16AM
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 Forsyth Real Estate Group
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Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom condominium offers 1,191 square feet of living area and was built in 1999. The unit includes washer and dryer hookups. The condo association handles water, lawn maintenance, and snow removal.
Community amenities include a swimming pool, tennis courts, bike trails, a picnic area, and a baseball field.
Community amenities include a swimming pool, tennis courts, bike trails, a picnic area, and a baseball field.
Key Highlights
- Two bedrooms and two bathrooms in 1,191 square feet
- Built in 1999
- Washer and dryer hookups in the unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,828
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,560
$356.6K
Cap Rate 7%
$254,686
$254.7K
Cap Rate 9%
$198,089
$198.1K
Market Conditions
NOI Build-Up for 1,191 SF
Gross rent
$34.3K $28.80/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$32.4K $27.22/SF
− OpEx
−$14.6K −$12.25/SF
NOI
$17.8K $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%
$356,560
Cap Rate 7%
$254,686
Cap Rate 9%
$198,089
Alternative Uses
Best Use
Apartment 5plus
$254.7K
$222.9K – $297.1K
NOI $17,828 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.99M
$4.37M – $5.82M
NOI $349,466 @ 7.0% cap · market cap 82.23%
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
250
Businesses Nearby
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Business Placement
Demographics for 20194, VA
13,171
Population
5,784
Households
2.3
Avg Household Size
41
Median Age
81%
College-Educated
99%
High-School Grad
3.1 sq mi
ZIP Area
4,249
Density / Sq Mi
$166,423
Median Household Income
$106,463
Median Earnings
$2,303
Median Rent
$792,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo association services include water, lawn care, and snow removal.
Where is this residential income property located?
The property is located at 1511 N N POINT DRIVE Unit 304 Reston, VA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms in 1,191 square feet; Built in 1999; Washer and dryer hookups in the unit
