Corner Residential Income
1808 OLD MEADOW ROAD Unit 513, Mc Lean, VA 22102
For Sale
New
$568,000
The corner unit includes a wraparound balcony, two parking spaces and a dedicated storage unit.
Property Size1,574 SF
Price / SF$360.86
Days on Market7
Property Features for 1808 OLD MEADOW ROAD Unit 513
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Highway Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
wrap around balcony
storage unit
Building Details
Building Size
Year Built
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Christine R Fraley · License VA #0225063576
(703) 217-7600
Source:
Barnesrealestatecompany
Added: Nov 8
Changed: Nov 13
Last Checked: Nov 12 at 2:46PM
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 TTR Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This 1,574-square-foot corner condominium was built in 1986 and features a wraparound balcony with views of Tysons. The residence includes two parking spaces and one storage unit.
Tysons is within walking distance, and I-495 and I-66 are minutes away. Pets are permitted on a case-by-case basis, and smoking is allowed inside the unit.
Tysons is within walking distance, and I-495 and I-66 are minutes away. Pets are permitted on a case-by-case basis, and smoking is allowed inside the unit.
Key Highlights
- 1,574‑square‑foot corner condominium
- Wraparound balcony with views of Tysons
- Two parking spaces and one storage unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,561
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,220
$471.2K
Cap Rate 7%
$336,586
$336.6K
Cap Rate 9%
$261,789
$261.8K
Market Conditions
NOI Build-Up for 1,574 SF
Gross rent
$45.3K $28.80/SF
− Vacancy
−$2.5K −$1.58/SF
EGI
$42.8K $27.22/SF
− OpEx
−$19.3K −$12.25/SF
NOI
$23.6K $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%
$471,220
Cap Rate 7%
$336,586
Cap Rate 9%
$261,789
Alternative Uses
Best Use
Apartment 5plus
$336.6K
$294.5K – $392.7K
NOI $23,561 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$874.2K
$765.0K – $1.02M
NOI $61,197 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,491
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 corner unit includes a wraparound balcony, two parking spaces and a dedicated storage unit.
Where is this residential income property located?
The property is located at 1808 OLD MEADOW ROAD Unit 513 Mc Lean, VA.
What is the asking price?
The asking price for this property is $568,000.
What are key features of this property?
This property features: 1,574‑square‑foot corner condominium; Wraparound balcony with views of Tysons; Two parking spaces and one storage unit
