Two-Level Residential
1832 CEDAR COVE WAY Unit 101, Woodbridge, VA 22191
For Sale
$349,900
Three bedrooms, multiple outdoor areas, and a one-car garage serve a flexible two-level layout.
Property Size1,593 SF
Price / SF$219.65
Days on Market89
Property Features for 1832 CEDAR COVE WAY Unit 101
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Pearson Smith Realty LLC
Listed By:
Amber D Castles · License #0225208213
(703) 399-5923
Source:
Irvinrealtyllc
Added: Aug 13
Changed: Nov 8
Last Checked: Nov 8 at 5:24PM
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 two-level condominium has three bedrooms, two full baths, and a half bath. The upper floor combines a family room with a double-sided fireplace and a U-shaped kitchen with pantry. Two sliding glass doors open to a covered deck, while the owner’s suite includes a private balcony and a bathroom with a tub and shower, a separate stall shower, and linen storage. On the main level, a recreation area sits alongside two bedrooms and a full bath; each bedroom has an exterior door to the rear. A one-car garage is also included.
The kitchen has a newer microwave and refrigerator. The gas water heater was installed in 2024, and the HVAC dates to 2019. The condo fee covers water and sewer.
The kitchen has a newer microwave and refrigerator. The gas water heater was installed in 2024, and the HVAC dates to 2019. The condo fee covers water and sewer.
Key Highlights
- Three bedrooms, 2.5 baths, and a one‑car garage
- Covered deck accessed through two sliding glass doors
- Owner’s suite includes a private balcony and a bathroom with separate tub and stall shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,417
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,340
$428.3K
Cap Rate 7%
$305,957
$306.0K
Cap Rate 9%
$237,967
$238.0K
Market Conditions
NOI Build-Up for 1,593 SF
Gross rent
$40.1K $25.20/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$38.9K $24.44/SF
− OpEx
−$17.5K −$11.00/SF
NOI
$21.4K $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%
$428,340
Cap Rate 7%
$305,957
Cap Rate 9%
$237,967
Alternative Uses
Best Use
Apartment 5plus
$306.0K
$267.7K – $357.0K
NOI $21,417 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$467.8K
$409.4K – $545.8K
NOI $32,749 @ 7.0% cap · market cap 9.36%
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
312
Businesses Nearby
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Business Placement
Demographics for 22191, VA
74,189
Population
26,127
Households
2.8
Avg Household Size
34
Median Age
39%
College-Educated
87%
High-School Grad
15.4 sq mi
ZIP Area
4,817
Density / Sq Mi
$107,993
Median Household Income
$49,388
Median Earnings
$2,069
Median Rent
$432,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three bedrooms, multiple outdoor areas, and a one-car garage serve a flexible two-level layout.
Where is this residential income property located?
The property is located at 1832 CEDAR COVE WAY Unit 101 Woodbridge, VA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Three bedrooms, 2.5 baths, and a one‑car garage; Covered deck accessed through two sliding glass doors; Owner’s suite includes a private balcony and a bathroom with separate tub and stall shower
