One-Bedroom Condo with Garage
For Sale
$295,850
1581 SPRING GATE DRIVE Unit 5207, Mc Lean, VA 22102
Granite counters and stainless-steel appliances distinguish the renovated kitchen.
Property Size690 SF
Price / SF$428.77
Days on Market66
Property Features for 1581 SPRING GATE DRIVE Unit 5207
General Information
Standard status
Active
Size
690 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,807
Amenities
garage parking
clubhouse
gym
locker rooms
swimming pool
sauna
coffee bar
rentable party room
tot lots
walking paths
sport courts
grills
pet stations
EV charging stations
Building Details
Building Size
690 SF
Year Built
1997
Listing Agency:
BMI REALTORS INC.
Listed By:
Jackie Wang · License #0225097608
(240) 401-8915
Source:
Irvinrealtyllc
Added: Aug 29
Changed: Oct 27
Last Checked: Nov 1 at 7:40AM
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 BMI REALTORS INC.
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Investment Insights
Based on property information with market context.
This one-bedroom condominium offers 690 square feet of living space, hardwood flooring in the living room and bedroom, and garage parking. The kitchen has granite countertops and stainless-steel appliances. A new HVAC system was installed in 04/2025; the dishwasher was replaced in 05/2024 and the washer in 08/2022. The building dates to 1997.
McLean Metro and Wegmans are a short walk away, as are Capital One offices. Community facilities include a clubhouse with a gym, locker rooms, coffee bar, sauna, and rentable event room. Outdoor amenities include walking paths, tot lots, sport courts, grills, pet stations, and EV charging stations, along with a swimming pool.
McLean Metro and Wegmans are a short walk away, as are Capital One offices. Community facilities include a clubhouse with a gym, locker rooms, coffee bar, sauna, and rentable event room. Outdoor amenities include walking paths, tot lots, sport courts, grills, pet stations, and EV charging stations, along with a swimming pool.
Key Highlights
- One‑bedroom condo with garage parking and 690 square feet
- Hardwood floors in the living room and bedroom
- Granite kitchen counters and stainless‑steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,328
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,560
$206.6K
Cap Rate 7%
$147,543
$147.5K
Cap Rate 9%
$114,756
$114.8K
Market Conditions
NOI Build-Up for 690 SF
Gross rent
$19.9K $28.80/SF
− Vacancy
−$1.1K −$1.58/SF
EGI
$18.8K $27.22/SF
− OpEx
−$8.5K −$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%
$206,560
Cap Rate 7%
$147,543
Cap Rate 9%
$114,756
Alternative Uses
Best Use
Apartment 5plus
$147.5K
$129.1K – $172.1K
NOI $10,328 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,462 @ 7.0% cap · market cap 68.43%
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
1,398
Businesses Nearby
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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 - Granite counters and stainless-steel appliances distinguish the renovated kitchen.
Where is this residential income property located?
The property is located at 1581 SPRING GATE DRIVE Unit 5207 Mc Lean, VA.
What is the asking price?
The asking price for this property is $295,850.
What are key features of this property?
This property features: One‑bedroom condo with garage parking and 690 square feet; Hardwood floors in the living room and bedroom; Granite kitchen counters and stainless‑steel appliances
