Corner-Unit Residential Income
For Sale
$550,000
1833 IVY OAK SQUARE Unit 49, Reston, VA 20190
Townhouse-style condominium with private outdoor space, flexible living areas, and community-maintained exterior components.
Property Size1,874 SF
Price / SF$293.49
Days on Market45
Property Features for 1833 IVY OAK SQUARE Unit 49
General Information
Standard status
Active
Size
1,874 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 4BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,117
Building Details
Building Size
1,874 SF
Year Built
1970
Listing Agency:
Long & Foster Real Estate, Inc.
(703) 826-4326
Listed By:
Karen Ann Ryan · License #0225243867
(703) 826-4326
Source:
Kerishull
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 29 at 4:45PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This corner-unit townhouse condominium provides 1,874 square feet with four bedrooms and 2.5 baths. The interior includes hardwood flooring in the living and dining rooms, a wood-burning fireplace, an oversized kitchen with substantial cabinetry, and fresh paint throughout. New carpeting was added to the staircase and all four bedrooms. A fenced patio bordered by mature trees extends the usable living area, while a custom storage shed provides additional room for bicycles, equipment, and seasonal items.
The property is located in Reston near Reston Town Center, Lake Anne, shopping, restaurants, parks, the W&OD Trail, and two Silver Line Metro stations. Community amenities include walking trails, pools, tennis courts, and playgrounds. The condominium fee covers gas heat, water, landscaping, tree and shrub care, trash and snow removal, exterior maintenance including the roof, masonry, and exterior doors, and pest control.
Built in 1970, the residence combines townhouse-style space with condominium ownership and a low-maintenance exterior program.
The property is located in Reston near Reston Town Center, Lake Anne, shopping, restaurants, parks, the W&OD Trail, and two Silver Line Metro stations. Community amenities include walking trails, pools, tennis courts, and playgrounds. The condominium fee covers gas heat, water, landscaping, tree and shrub care, trash and snow removal, exterior maintenance including the roof, masonry, and exterior doors, and pest control.
Built in 1970, the residence combines townhouse-style space with condominium ownership and a low-maintenance exterior program.
Key Highlights
- 1,874‑square‑foot corner‑unit townhouse condominium
- Four bedrooms and 2.5 baths
- Private fully fenced patio with mature trees
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,227
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$584,540
$584.5K
Cap Rate 7%
$417,529
$417.5K
Cap Rate 9%
$324,744
$324.7K
Market Conditions
NOI Build-Up for 1,874 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.9K $30.36/SF
− Vacancy
−$3.8K −$2.00/SF
EGI
$53.1K $28.36/SF
− OpEx
−$23.9K −$12.76/SF
NOI
$29.2K $15.60/SF
Area
Loudoun County, VA
Vacancy
6.60%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$584,540
Cap Rate 7%
$417,529
Cap Rate 9%
$324,744
Alternative Uses
Best Use
Apartment 5plus
$417.5K
$365.3K – $487.1K
NOI $29,227 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$587.3K
$513.9K – $685.2K
NOI $41,111 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,865
Businesses Nearby
Explore this area
Business Placement
Demographics for 20190, VA
20,957
Population
12,180
Households
1.7
Avg Household Size
40
Median Age
72%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,763
Density / Sq Mi
$126,928
Median Household Income
$83,750
Median Earnings
$2,241
Median Rent
$568,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Townhouse-style condominium with private outdoor space, flexible living areas, and community-maintained exterior components.
Where is this residential income property located?
The property is located at 1833 IVY OAK SQUARE Unit 49 Reston, VA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,874‑square‑foot corner‑unit townhouse condominium; Four bedrooms and 2.5 baths; Private fully fenced patio with mature trees
