Residential Income Property with
For Sale
$460,000
1687 WESTWIND WAY Unit 183, Mc Lean, VA 22102
The condominium offers three bedrooms, two bathrooms, and community access to a swimming pool and children’s play area.
Property Size1,080 SF
Price / SF$425.93
Days on Market29
Property Features for 1687 WESTWIND WAY Unit 183
General Information
Standard status
Active
Size
1,080 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,687
Amenities
swimming pool
children's play area
Building Details
Building Size
1,080 SF
Year Built
1972
Listing Agency:
Equity Realty
Listed By:
John C Ashton · License #0225052222
(571) 440-1999
Source:
Canopy-re
Added: Oct 5
Changed: Oct 31
Last Checked: Oct 31 at 9:48AM
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 Equity Realty
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Investment Insights
Based on property information with market context.
This 1,080-square-foot condominium was built in 1972 and is configured with three bedrooms and two bathrooms. Community amenities include a swimming pool, a children’s play area, and shared common areas.
Located in McLean, the property is near shops and dining, with a premium grocery store across the street. The remarks also identify car, bus, and subway travel as convenient options, and place Tysons I and II a short trip away.
Located in McLean, the property is near shops and dining, with a premium grocery store across the street. The remarks also identify car, bus, and subway travel as convenient options, and place Tysons I and II a short trip away.
Key Highlights
- Three bedrooms and two bathrooms
- 1,080 square feet; built in 1972
- Community swimming pool and children’s play area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,166
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,320
$323.3K
Cap Rate 7%
$230,943
$230.9K
Cap Rate 9%
$179,622
$179.6K
Market Conditions
NOI Build-Up for 1,080 SF
Gross rent
$31.1K $28.80/SF
− Vacancy
−$1.7K −$1.58/SF
EGI
$29.4K $27.22/SF
− OpEx
−$13.2K −$12.25/SF
NOI
$16.2K $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%
$323,320
Cap Rate 7%
$230,943
Cap Rate 9%
$179,622
Alternative Uses
Best Use
Apartment 5plus
$230.9K
$202.1K – $269.4K
NOI $16,166 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.53M
$3.96M – $5.28M
NOI $316,896 @ 7.0% cap · market cap 68.89%
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
545
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 - The condominium offers three bedrooms, two bathrooms, and community access to a swimming pool and children’s play area.
Where is this residential income property located?
The property is located at 1687 WESTWIND WAY Unit 183 Mc Lean, VA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Three bedrooms and two bathrooms; 1,080 square feet; built in 1972; Community swimming pool and children’s play area
