Three-Bedroom Residential Income
For Sale
$395,000
2037 ROYAL FERN COURT Unit 47/2C, Reston, VA 20191
The condo pairs connected dining, kitchen, and living areas with community recreation and outdoor amenities.
Property Size1,313 SF
Price / SF$300.84
Days on Market219
Property Features for 2037 ROYAL FERN COURT Unit 47/2C
General Information
Standard status
Active
Size
1,313 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,289
Amenities
outdoor pools
courtyard
common grounds
jogging and walking paths
tot lots
playgrounds
tennis courts
Building Details
Building Size
1,313 SF
Year Built
1973
Listing Agency:
Pearson Smith Realty, LLC
Listed By:
Frances V Irizarry · License #0225184070
(703) 967-7289
Source:
Canopy-re
Added: Mar 31
Changed: Nov 2
Last Checked: Nov 3 at 6:10AM
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 Pearson Smith Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,313-square-foot condominium in Southgate has three bedrooms and two bathrooms. Its traditional layout connects the dining area, kitchen, and great room. Upgraded flooring extends through the main entertaining area, and windows bring natural light into the rooms. The home was built in 1973 and includes appliances.
Southgate offers outdoor pools, tennis courts, a courtyard, walking and jogging paths, and playground areas. Nearby parks provide additional outdoor space, and Reston Town Center is minutes away. The association fee covers common-area maintenance and insurance.
Southgate offers outdoor pools, tennis courts, a courtyard, walking and jogging paths, and playground areas. Nearby parks provide additional outdoor space, and Reston Town Center is minutes away. The association fee covers common-area maintenance and insurance.
Key Highlights
- 1,313‑square‑foot condominium with 3 bedrooms and 2 bathrooms
- Built in 1973
- Connected dining area, kitchen, and great room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,654
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$393,080
$393.1K
Cap Rate 7%
$280,771
$280.8K
Cap Rate 9%
$218,378
$218.4K
Market Conditions
NOI Build-Up for 1,313 SF
Gross rent
$37.8K $28.80/SF
− Vacancy
−$2.1K −$1.58/SF
EGI
$35.7K $27.22/SF
− OpEx
−$16.1K −$12.25/SF
NOI
$19.7K $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%
$393,080
Cap Rate 7%
$280,771
Cap Rate 9%
$218,378
Alternative Uses
Best Use
Apartment 5plus
$280.8K
$245.7K – $327.6K
NOI $19,654 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.50M
$4.82M – $6.42M
NOI $385,264 @ 7.0% cap · market cap 97.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,324
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
Frequently Asked Questions
What type of property is this?
Residential income property - The condo pairs connected dining, kitchen, and living areas with community recreation and outdoor amenities.
Where is this residential income property located?
The property is located at 2037 ROYAL FERN COURT Unit 47/2C Reston, VA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,313‑square‑foot condominium with 3 bedrooms and 2 bathrooms; Built in 1973; Connected dining area, kitchen, and great room
