Patio-Connected Residential Income
1761 OLD MEADOW ROAD Unit 215, Mc Lean, VA 22102
For Sale
$830,000
Two patios extend the living area outdoors, with direct access from the great room.
Property Size1,571 SF
Price / SF$528.33
Days on Market66
Property Features for 1761 OLD MEADOW ROAD Unit 215
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
concierge
club/party room
fitness center
outdoor kitchen
outdoor dining area
fire pits
courtyard
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Keller Williams Realty
Listed By:
Matias Leiva · License VA #0225228134
(703) 400-7012
Source:
Mxwrealestate
Added: Sep 10
Changed: Nov 11
Last Checked: Nov 13 at 6:47AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 1,711-square-foot condominium in McLean, Virginia, was built in 2020 and offers two primary bedrooms, a den with a closet, and 2.5 bathrooms. The 25-by-18-foot great room connects to two patios through a wall of windows. The open kitchen has a waterfall island, and a separate laundry room contains a full-size washer and dryer. The unit also includes two underground garage parking spaces and a 10-by-8-foot storage unit.
The residence is part of a 111-unit, five-story condominium building. Shared amenities include a staffed front desk, fitness center, club and party room, courtyard, and outdoor area with grills, dining space, and fire pits.
The residence is part of a 111-unit, five-story condominium building. Shared amenities include a staffed front desk, fitness center, club and party room, courtyard, and outdoor area with grills, dining space, and fire pits.
Key Highlights
- 1,711‑square‑foot condominium with two primary bedrooms, a den, and 2.5 bathrooms
- 25‑by‑18‑foot great room opens to two patios
- Built in 2020 within a 111‑unit, five‑story building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,516
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,320
$470.3K
Cap Rate 7%
$335,943
$335.9K
Cap Rate 9%
$261,289
$261.3K
Market Conditions
NOI Build-Up for 1,571 SF
Gross rent
$45.2K $28.80/SF
− Vacancy
−$2.5K −$1.58/SF
EGI
$42.8K $27.22/SF
− OpEx
−$19.2K −$12.25/SF
NOI
$23.5K $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%
$470,320
Cap Rate 7%
$335,943
Cap Rate 9%
$261,289
Alternative Uses
Best Use
Apartment 5plus
$335.9K
$294.0K – $391.9K
NOI $23,516 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$872.6K
$763.5K – $1.02M
NOI $61,080 @ 7.0% cap · market cap 7.36%
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
2,149
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 - Two patios extend the living area outdoors, with direct access from the great room.
Where is this residential income property located?
The property is located at 1761 OLD MEADOW ROAD Unit 215 Mc Lean, VA.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: 1,711‑square‑foot condominium with two primary bedrooms, a den, and 2.5 bathrooms; 25‑by‑18‑foot great room opens to two patios; Built in 2020 within a 111‑unit, five‑story building
