Renovated Residential Income
For Sale
$369,000
1944 KENNEDY DRIVE Unit 203, Mc Lean, VA 22102
A two-bedroom residence features an updated kitchen and bath, in-unit laundry, and a private balcony.
Property Size934 SF
Price / SF$395.07
Days on Market60
Property Features for 1944 KENNEDY DRIVE Unit 203
General Information
Standard status
Active
Size
934 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Asking Price
$369,000
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,805
Amenities
sparkling outdoor swimming pool
professional on-site management
in-unit washer and dryer
additional storage space
private balcony
Building Details
Building Size
934 SF
Year Built
1964
Listing Agency:
eXp Realty
Listed By:
Canopy Property Group · License #670867
(202) 410-0672
Source:
Canopy-re
Added: Sep 4
Changed: Nov 2
Last Checked: Oct 31 at 10:00AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This 934-square-foot, two-bedroom, one-bath condominium was built in 1964 and has been renovated, including updates to the kitchen and bathroom. The residence also includes a private balcony, in-unit washer and dryer, and additional storage. The building has an outdoor swimming pool, on-site management, and parking. Gas and water are covered by the condo fee.
The property is in the Tysons/McLean area, near shopping, restaurants, entertainment, recreation, and public transportation. The location also provides access to the greater Washington metropolitan area.
The property is in the Tysons/McLean area, near shopping, restaurants, entertainment, recreation, and public transportation. The location also provides access to the greater Washington metropolitan area.
Key Highlights
- 934‑square‑foot, two‑bedroom, one‑bath condominium
- Renovated interior with updated kitchen and bathroom
- Private balcony, in‑unit washer and dryer, and additional storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,981
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,620
$279.6K
Cap Rate 7%
$199,729
$199.7K
Cap Rate 9%
$155,344
$155.3K
Market Conditions
NOI Build-Up for 934 SF
Gross rent
$26.9K $28.80/SF
− Vacancy
−$1.5K −$1.58/SF
EGI
$25.4K $27.22/SF
− OpEx
−$11.4K −$12.25/SF
NOI
$14.0K $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%
$279,620
Cap Rate 7%
$199,729
Cap Rate 9%
$155,344
Alternative Uses
Best Use
Apartment 5plus
$199.7K
$174.8K – $233.0K
NOI $13,981 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.92M
$3.43M – $4.57M
NOI $274,057 @ 7.0% cap · market cap 74.27%
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
2,895
Businesses Nearby
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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 - A two-bedroom residence features an updated kitchen and bath, in-unit laundry, and a private balcony.
Where is this residential income property located?
The property is located at 1944 KENNEDY DRIVE Unit 203 Mc Lean, VA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 934‑square‑foot, two‑bedroom, one‑bath condominium; Renovated interior with updated kitchen and bathroom; Private balcony, in‑unit washer and dryer, and additional storage
