Renovated Residential Income
19375 CYPRESS RIDGE TERRACE Unit 702, Leesburg, VA 20176
For Sale
$354,900
The 1,038-square-foot residence features updated finishes, a remodeled kitchen, and two refreshed bathrooms.
Property Size1,038 SF
Price / SF$341.91
Days on Market54
Property Features for 19375 CYPRESS RIDGE TERRACE Unit 702
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
clubhouse
climate-controlled indoor pool
fitness center
sports courts
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Karen A Miller · License VA #0225209126
(703) 622-8838
Source:
Canopy-re
Added: Sep 18
Changed: Nov 10
Last Checked: Nov 9 at 4:53PM
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 Compass
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Investment Insights
Based on property information with market context.
Unit 702 is a 1,038-square-foot residence in a gated community, built in 2000. Recent interior work includes luxury vinyl plank flooring, fresh paint, updated lighting and door hardware, and new shoe moulding. The kitchen has new cabinetry, quartz counters, a backsplash, under-cabinet lighting, and a full set of appliances. Both bathrooms feature refinished vanities, granite counters, updated fixtures, and ADA-compliant toilets.
Community amenities include an indoor pool, fitness center, sports courts, and a clubhouse with social activities. The community is primarily for residents 55 and older; those age 45 and up may join with HOA/condo approval. The property is in Leesburg, with INOVA Loudoun, shopping, dining, and Dulles International Airport noted nearby.
Community amenities include an indoor pool, fitness center, sports courts, and a clubhouse with social activities. The community is primarily for residents 55 and older; those age 45 and up may join with HOA/condo approval. The property is in Leesburg, with INOVA Loudoun, shopping, dining, and Dulles International Airport noted nearby.
Key Highlights
- 1,038‑square‑foot residence in a gated community
- Kitchen updated with new cabinetry, quartz counters, backsplash, and appliances
- Two bathrooms have granite counters, updated fixtures, and ADA‑compliant toilets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,189
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,780
$323.8K
Cap Rate 7%
$231,271
$231.3K
Cap Rate 9%
$179,878
$179.9K
Market Conditions
NOI Build-Up for 1,038 SF
Gross rent
$31.5K $30.36/SF
− Vacancy
−$2.1K −$2.00/SF
EGI
$29.4K $28.36/SF
− OpEx
−$13.2K −$12.76/SF
NOI
$16.2K $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 Rate 5%
$323,780
Cap Rate 7%
$231,271
Cap Rate 9%
$179,878
Alternative Uses
Best Use
Apartment 5plus
$231.3K
$202.4K – $269.8K
NOI $16,189 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$325.3K
$284.6K – $379.5K
NOI $22,771 @ 7.0% cap · market cap 6.42%
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
1,517
Businesses Nearby
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Business Placement
Demographics for 20176, VA
51,777
Population
17,044
Households
3
Avg Household Size
38
Median Age
59%
College-Educated
94%
High-School Grad
54.9 sq mi
ZIP Area
943
Density / Sq Mi
$166,870
Median Household Income
$67,473
Median Earnings
$2,089
Median Rent
$702,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The 1,038-square-foot residence features updated finishes, a remodeled kitchen, and two refreshed bathrooms.
Where is this residential income property located?
The property is located at 19375 CYPRESS RIDGE TERRACE Unit 702 Leesburg, VA.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: 1,038‑square‑foot residence in a gated community; Kitchen updated with new cabinetry, quartz counters, backsplash, and appliances; Two bathrooms have granite counters, updated fixtures, and ADA‑compliant toilets
