One-Bedroom
For Sale
$189,999
1951 SAGEWOOD LANE Unit 16, Reston, VA 20191
The home includes indoor garage parking within a 55+ community.
Property Size657 SF
Price / SF$289.19
Days on Market48
Property Features for 1951 SAGEWOOD LANE Unit 16
General Information
Standard status
Active
Size
657 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,553
Amenities
library
meeting and activity spaces
fitness facilities
extra storage
landscaped courtyards
pet-friendly
swimming pools
tennis courts
pickleball courts
parks
lakes
scenic trails
Building Details
Building Size
657 SF
Year Built
1985
Year Renovated
2026
Listing Agency:
Keller Williams Realty
Listed By:
Antonieta C Matter · License #0225236403
(703) 447-7457
Source:
Catoctinproperties
Added: Sep 18
Changed: Nov 2
Last Checked: Nov 3 at 6:18AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 657-square-foot condominium in Thoreau Place has one bedroom and one bathroom. Interior improvements include luxury vinyl plank flooring, an updated bathroom and lighting, and fresh paint. The kitchen was renovated with new appliances in 2023; a washer and dryer were added, and other updates were completed in 2026. The building dates to 1985, and the unit overlooks a courtyard.
Community features include landscaped courtyards, a library, meeting and activity rooms, fitness facilities, extra storage, surface parking, and an on-site property manager. Residents can reach South Lakes Village through a pedestrian tunnel, with grocery, pharmacy, coffee, dining, and retail options there. Wiehle-Reston East Metro Station is approximately one mile away, and the Dulles Toll Road and nearby trails provide additional transportation and recreation connections. Reston Association amenities include pools, tennis and pickleball courts, parks, lakes, and walking trails. The community is designated for residents age 55 and older; pet ownership is subject to size and number restrictions.
Community features include landscaped courtyards, a library, meeting and activity rooms, fitness facilities, extra storage, surface parking, and an on-site property manager. Residents can reach South Lakes Village through a pedestrian tunnel, with grocery, pharmacy, coffee, dining, and retail options there. Wiehle-Reston East Metro Station is approximately one mile away, and the Dulles Toll Road and nearby trails provide additional transportation and recreation connections. Reston Association amenities include pools, tennis and pickleball courts, parks, lakes, and walking trails. The community is designated for residents age 55 and older; pet ownership is subject to size and number restrictions.
Key Highlights
- One‑bedroom, one‑bathroom condominium with 657 square feet
- Indoor garage parking included
- Kitchen renovation and new appliances completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,835
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$196,700
$196.7K
Cap Rate 7%
$140,500
$140.5K
Cap Rate 9%
$109,278
$109.3K
Market Conditions
NOI Build-Up for 657 SF
Gross rent
$18.9K $28.80/SF
− Vacancy
−$1.0K −$1.58/SF
EGI
$17.9K $27.22/SF
− OpEx
−$8.0K −$12.25/SF
NOI
$9.8K $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%
$196,700
Cap Rate 7%
$140,500
Cap Rate 9%
$109,278
Alternative Uses
Best Use
Apartment 5plus
$140.5K
$122.9K – $163.9K
NOI $9,835 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.75M
$2.41M – $3.21M
NOI $192,779 @ 7.0% cap · market cap 101.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 20191, VA
29,948
Population
12,744
Households
2.3
Avg Household Size
39
Median Age
66%
College-Educated
93%
High-School Grad
7.8 sq mi
ZIP Area
3,839
Density / Sq Mi
$141,019
Median Household Income
$62,313
Median Earnings
$1,983
Median Rent
$616,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The home includes indoor garage parking within a 55+ community.
Where is this residential income property located?
The property is located at 1951 SAGEWOOD LANE Unit 16 Reston, VA.
What is the asking price?
The asking price for this property is $189,999.
What are key features of this property?
This property features: One‑bedroom, one‑bathroom condominium with 657 square feet; Indoor garage parking included; Kitchen renovation and new appliances completed in 2023
