Top-Floor Residential Income
For Sale
$760,000
1851 STRATFORD PARK PLACE Unit 401, Reston, VA 20190
Corner residence with loft, balcony, dual-zone HVAC, storage, and reserved underground parking.
Property Size2,014 SF
Days on Market12
Property Features for 1851 STRATFORD PARK PLACE Unit 401
General Information
Standard status
Active
Size
2,014 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Penthouse Unit/Flat/Apartment
Units
Multifamily Units
1
Parking per Unit
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,746
Amenities
outdoor pool
hot tub
fitness center
party room
EV chargers
Building Details
Building Size
2,014 SF
Year Built
2002
Listing Agency:
National Realty, LLC
Listed By:
Constance Hartke · License #0225267499
(571) 205-8874
Source:
Barnesrealestatecompany
Added: Aug 24
Changed: Sep 2
Last Checked: Sep 1 at 11:42PM
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 National Realty, LLC
Investment Insights
Based on property information with market context.
This top-floor residence at Stratford Court offers more than 2,000 square feet across a two-level layout. The main floor includes two bedrooms, a den, two full bathrooms, and a two-story living room. An upper loft with its own full bathroom and multiple closets provides adaptable additional space. Corner windows face west and north, with plantation shutters and views toward mature trees. A shaded balcony extends the living area outdoors, while dual-zone HVAC serves both levels.
The secure elevator building includes one reserved underground parking space, an adjoining large storage unit, and visitor parking. Residents have access to an outdoor pool and hot tub, fitness center, and a party room with kitchen. The property is a 15-minute walk from Reston Town Center Metro and within walking distance of Wiehle-Reston East, Reston Town Center dining and shops, Lake Anne Plaza, and the W&OD Trail. Built in 2002, the residence is at 1851 Stratford Park Place in Reston, Virginia.
The secure elevator building includes one reserved underground parking space, an adjoining large storage unit, and visitor parking. Residents have access to an outdoor pool and hot tub, fitness center, and a party room with kitchen. The property is a 15-minute walk from Reston Town Center Metro and within walking distance of Wiehle-Reston East, Reston Town Center dining and shops, Lake Anne Plaza, and the W&OD Trail. Built in 2002, the residence is at 1851 Stratford Park Place in Reston, Virginia.
Key Highlights
- >2,000 square feet with a two‑level floor plan and top‑floor position
- Main level includes two bedrooms, a den, and two full bathrooms
- Upper loft offers a third full bathroom and multiple closets
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
$31,410
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
4.13%
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%
$628,200
$628.2K
Cap Rate 7%
$448,714
$448.7K
Cap Rate 9%
$349,000
$349.0K
Market Conditions
NOI Build-Up for 2,014 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
$61.1K $30.36/SF
− Vacancy
−$4.0K −$2.00/SF
EGI
$57.1K $28.36/SF
− OpEx
−$25.7K −$12.76/SF
NOI
$31.4K $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%
$628,200
Cap Rate 7%
$448,714
Cap Rate 9%
$349,000
Alternative Uses
Best Use
Apartment 5plus
$448.7K
$392.6K – $523.5K
NOI $31,410 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$631.2K
$552.3K – $736.4K
NOI $44,182 @ 7.0% cap · market cap 5.81%
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
3,348
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 - Corner residence with loft, balcony, dual-zone HVAC, storage, and reserved underground parking.
Where is this residential income property located?
The property is located at 1851 STRATFORD PARK PLACE Unit 401 Reston, VA.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: >2,000 square feet with a two‑level floor plan and top‑floor position; Main level includes two bedrooms, a den, and two full bathrooms; Upper loft offers a third full bathroom and multiple closets
