Top-Floor Residential Income
For Sale
$314,900
1954 KENNEDY DRIVE Unit 202, Mc Lean, VA 22102
The condo pairs a private balcony with an updated kitchen and an in-unit washer and dryer.
Property Size928 SF
Price / SF$339.33
Days on Market20
Property Features for 1954 KENNEDY DRIVE Unit 202
General Information
Standard status
Active
Size
928 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,982
Amenities
pool
volleyball court
on-site convenience store
in-unit washer/dryer
private balcony
Building Details
Building Size
928 SF
Year Built
1964
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Nathan Shapiro · License #0225185794
(703) 789-2046
Source:
Jackrealtygroup
Added: Oct 14
Changed: Nov 2
Last Checked: Oct 30 at 11:54AM
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.
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Investment Insights
Based on property information with market context.
Located at 1954 Kennedy Drive in McLean, this 928-square-foot, top-floor condo includes spacious bedrooms, an owner’s suite with a walk-in closet, and a living room that opens onto a private balcony. The separate dining room sits beside a kitchen with white shaker cabinetry, Corian counters, stainless steel appliances, and gas cooking. Fresh paint and an in-unit washer and dryer add to the interior features; the AC was replaced in 2025. The building dates to 1964.
Tysons Corner Center is a 10-minute walk away. Community amenities include a swimming pool, volleyball court, an on-site convenience store, and resident and guest parking. The condo fee covers gas, water, trash service, extra storage, HVAC servicing, and dryer vent cleaning. The unit includes two reserved parking passes and five visitor passes.
Tysons Corner Center is a 10-minute walk away. Community amenities include a swimming pool, volleyball court, an on-site convenience store, and resident and guest parking. The condo fee covers gas, water, trash service, extra storage, HVAC servicing, and dryer vent cleaning. The unit includes two reserved parking passes and five visitor passes.
Key Highlights
- 928 square feet in a top‑floor condo
- AC replaced in 2025
- Private balcony off the living room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,891
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,820
$277.8K
Cap Rate 7%
$198,443
$198.4K
Cap Rate 9%
$154,344
$154.3K
Market Conditions
NOI Build-Up for 928 SF
Gross rent
$26.7K $28.80/SF
− Vacancy
−$1.5K −$1.58/SF
EGI
$25.3K $27.22/SF
− OpEx
−$11.4K −$12.25/SF
NOI
$13.9K $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%
$277,820
Cap Rate 7%
$198,443
Cap Rate 9%
$154,344
Alternative Uses
Best Use
Apartment 5plus
$198.4K
$173.6K – $231.5K
NOI $13,891 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.89M
$3.40M – $4.54M
NOI $272,296 @ 7.0% cap · market cap 86.47%
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 - The condo pairs a private balcony with an updated kitchen and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 1954 KENNEDY DRIVE Unit 202 Mc Lean, VA.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: 928 square feet in a top‑floor condo; AC replaced in 2025; Private balcony off the living room
