Residential Income Property with
For Sale
$279,900
1524 LINCOLN WAY Unit 107, Mc Lean, VA 22102
The unit combines an open layout with in-home laundry and access to shared recreational amenities.
Property Size689 SF
Price / SF$406.24
Days on Market145
Property Features for 1524 LINCOLN WAY Unit 107
General Information
Standard status
Active
Size
689 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,077
Amenities
in-unit washer and dryer
private balcony
on-site management
fitness center
outdoor swimming pool
clubhouse
beautifully maintained common grounds
Building Details
Building Size
689 SF
Year Built
1988
Listing Agency:
Redfin Corporation
Listed By:
Robert E Wittman · License #0225084299
(703) 220-1017
Source:
Mxwrealestate
Added: Jun 11
Changed: Oct 30
Last Checked: Oct 30 at 2:15AM
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 Redfin Corporation
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Investment Insights
Based on property information with market context.
This 689-square-foot residential income property in McLean was built in 1988. The unit has an open floor plan, an updated bathroom, an in-unit washer and dryer, and a private balcony. Community facilities include a fitness center, outdoor pool, clubhouse, and on-site management.
The property is near Tysons Galleria, Tysons Corner Center, The Boro, Capital One Center, grocery stores, dining, and entertainment. Spring Hill Metro Station and Tysons West Transit Station are nearby, with access to I-495, Route 267, Route 123, and I-66. The stated school assignments are Spring Hill Elementary, Longfellow Middle, and McLean High School.
The property is near Tysons Galleria, Tysons Corner Center, The Boro, Capital One Center, grocery stores, dining, and entertainment. Spring Hill Metro Station and Tysons West Transit Station are nearby, with access to I-495, Route 267, Route 123, and I-66. The stated school assignments are Spring Hill Elementary, Longfellow Middle, and McLean High School.
Key Highlights
- 689‑square‑foot unit built in 1988
- Private balcony, updated bathroom, and in‑unit washer and dryer
- Shared fitness center, outdoor pool, clubhouse, and on‑site management
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,314
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,280
$206.3K
Cap Rate 7%
$147,343
$147.3K
Cap Rate 9%
$114,600
$114.6K
Market Conditions
NOI Build-Up for 689 SF
Gross rent
$19.8K $28.80/SF
− Vacancy
−$1.1K −$1.58/SF
EGI
$18.8K $27.22/SF
− OpEx
−$8.4K −$12.25/SF
NOI
$10.3K $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%
$206,280
Cap Rate 7%
$147,343
Cap Rate 9%
$114,600
Alternative Uses
Best Use
Apartment 5plus
$147.3K
$128.9K – $171.9K
NOI $10,314 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,168 @ 7.0% cap · market cap 72.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,652
Businesses Nearby
Explore this area
Business Placement
Demographics for 22102, VA
27,743
Population
14,274
Households
1.9
Avg Household Size
37
Median Age
81%
College-Educated
99%
High-School Grad
12.3 sq mi
ZIP Area
2,256
Density / Sq Mi
$153,816
Median Household Income
$93,200
Median Earnings
$2,471
Median Rent
$1,003,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit combines an open layout with in-home laundry and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 1524 LINCOLN WAY Unit 107 Mc Lean, VA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 689‑square‑foot unit built in 1988; Private balcony, updated bathroom, and in‑unit washer and dryer; Shared fitness center, outdoor pool, clubhouse, and on‑site management
