Two-Bedroom Residential
For Sale
$225,000
1550 RENATE DRIVE Unit 104, Woodbridge, VA 22192
A single-level layout is paired with community amenities and a condo fee covering several building and utility expenses.
Property Size929 SF
Price / SF$242.20
Days on Market22
Property Features for 1550 RENATE DRIVE Unit 104
General Information
Standard status
Active
Size
929 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,139
Amenities
community pool
community center
playground
maintained common areas
Building Details
Building Size
929 SF
Year Built
1968
Listing Agency:
Pearson Smith Realty, LLC
Listed By:
Rich Asumadu · License #0225245578
(571) 394-1816
Source:
Irvinrealtyllc
Added: Oct 7
Changed: Oct 27
Last Checked: Oct 27 at 3:43AM
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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Investment Insights
Based on property information with market context.
This 929-square-foot, two-bedroom condominium is arranged on one level and was built in 1968. The condo fee covers water, electricity, trash and snow removal, roof maintenance, building insurance, and road maintenance. Residents also have access to a community pool, community center, playground, and maintained shared grounds.
The home is at 1550 Renate Drive, Unit 104, in Woodbridge. Nearby destinations named include Potomac Mills Mall, Stonebridge at Potomac Town Center, Historic Occoquan, Occoquan Regional Park, and Lake Ridge Golf & Marina. I-95, Route 1, Route 123, and the Woodbridge VRE station are also in the surrounding area.
The home is at 1550 Renate Drive, Unit 104, in Woodbridge. Nearby destinations named include Potomac Mills Mall, Stonebridge at Potomac Town Center, Historic Occoquan, Occoquan Regional Park, and Lake Ridge Golf & Marina. I-95, Route 1, Route 123, and the Woodbridge VRE station are also in the surrounding area.
Key Highlights
- 929‑square‑foot condominium with two bedrooms and a single‑level layout
- Condo fee covers water, electricity, trash and snow removal, roof maintenance, building insurance, and road maintenance
- Community amenities include a pool, community center, and playground
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,490
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$249,800
$249.8K
Cap Rate 7%
$178,429
$178.4K
Cap Rate 9%
$138,778
$138.8K
Market Conditions
NOI Build-Up for 929 SF
Gross rent
$23.4K $25.20/SF
− Vacancy
−$702 −$0.76/SF
EGI
$22.7K $24.44/SF
− OpEx
−$10.2K −$11.00/SF
NOI
$12.5K $13.44/SF
Area
Prince William County, VA
Vacancy
3.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$249,800
Cap Rate 7%
$178,429
Cap Rate 9%
$138,778
Alternative Uses
Best Use
Apartment 5plus
$178.4K
$156.1K – $208.2K
NOI $12,490 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$272.8K
$238.7K – $318.3K
NOI $19,098 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
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Business Placement
Demographics for 22192, VA
60,299
Population
21,290
Households
2.8
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
19.2 sq mi
ZIP Area
3,141
Density / Sq Mi
$122,005
Median Household Income
$60,918
Median Earnings
$2,012
Median Rent
$465,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A single-level layout is paired with community amenities and a condo fee covering several building and utility expenses.
Where is this residential income property located?
The property is located at 1550 RENATE DRIVE Unit 104 Woodbridge, VA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 929‑square‑foot condominium with two bedrooms and a single‑level layout; Condo fee covers water, electricity, trash and snow removal, roof maintenance, building insurance, and road maintenance; Community amenities include a pool, community center, and playground
