Residential Income Property with
For Sale
$484,990
202A PARK CENTRAL TERRACE, Manassas, VA 20111
Two-level home offers a low-maintenance layout with a rear-load garage, balcony, flex space, and upgraded interior finishes.
Property Size1,573 SF
Price / SF$308.32
Days on Market11
Property Features for 202A PARK CENTRAL TERRACE
General Information
Standard status
Active
Size
1,573 SF
Property subtype
Unit/Flat/Apartment
Building Details
Building Size
1,573 SF
Year Built
2026
Listing Agency:
SM Brokerage, LLC
(571) 999-7039
Listed By:
Danielle Dawn Wallace · License #0225237494
(571) 999-7039
Source:
Kerishull
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 2:27PM
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 SM Brokerage, LLC
Investment Insights
Based on property information with market context.
This 1573-square-foot residential income property is a two-level townhome-style garage condominium built in 2026. The interior includes a family room, breakfast area, kitchen with quartz countertops and extensive cabinetry, two bedrooms, and two private baths. The primary suite features two walk-in closets, while an upper-level flex area opens to an attached balcony. A 1-car rear-load garage and full driveway provide dedicated parking and weather-protected access.
The property is located in Manassas near shopping, dining, entertainment, outdoor recreation, and Historic Old Town Manassas. The Virginia Railway Express Station is a 2-minute walk away, providing rail access into Washington D.C. Park Central also includes Manassas Park City Hall, a public library, and a sprinkler park.
The property is located in Manassas near shopping, dining, entertainment, outdoor recreation, and Historic Old Town Manassas. The Virginia Railway Express Station is a 2-minute walk away, providing rail access into Washington D.C. Park Central also includes Manassas Park City Hall, a public library, and a sprinkler park.
Key Highlights
- 1573‑square‑foot townhome‑style garage condominium
- Built in 2026 with model home upgrades and finishes
- 1‑car rear‑load garage with full driveway
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
$24,113
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
4.97%
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%
$482,260
$482.3K
Cap Rate 7%
$344,471
$344.5K
Cap Rate 9%
$267,922
$267.9K
Market Conditions
NOI Build-Up for 1,573 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
$46.2K $29.40/SF
− Vacancy
−$2.4K −$1.53/SF
EGI
$43.8K $27.87/SF
− OpEx
−$19.7K −$12.54/SF
NOI
$24.1K $15.33/SF
Area
Manassas Park County, VA
Vacancy
5.20%
Lease Rate
$29.40 /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%
$482,260
Cap Rate 7%
$344,471
Cap Rate 9%
$267,922
Alternative Uses
Best Use
Apartment 5plus
$344.5K
$301.4K – $401.9K
NOI $24,113 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$873.7K
$764.5K – $1.02M
NOI $61,158 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 20111, VA
38,883
Population
12,066
Households
3.2
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
16.4 sq mi
ZIP Area
2,371
Density / Sq Mi
$109,785
Median Household Income
$52,377
Median Earnings
$2,020
Median Rent
$449,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level home offers a low-maintenance layout with a rear-load garage, balcony, flex space, and upgraded interior finishes.
Where is this residential income property located?
The property is located at 202A PARK CENTRAL TERRACE Manassas, VA.
What is the asking price?
The asking price for this property is $484,990.
What are key features of this property?
This property features: 1573‑square‑foot townhome‑style garage condominium; Built in 2026 with model home upgrades and finishes; 1‑car rear‑load garage with full driveway
