Residential Income Property with
For Sale
$379,900
204 PARK TERRACE COURT SE Unit 24, Vienna, VA 22180
The condo pairs an updated kitchen and bathroom with access to shared grounds and an outdoor pool.
Property Size986 SF
Price / SF$385.29
Days on Market36
Property Features for 204 PARK TERRACE COURT SE Unit 24
General Information
Standard status
Active
Size
986 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,321
Amenities
outdoor pool
common grounds
Building Details
Building Size
986 SF
Year Built
1963
Listing Agency:
eXp Realty
Listed By:
Canopy Property Group · License #670867
(202) 410-0672
Source:
Canopy-re
Added: Sep 26
Changed: Oct 27
Last Checked: Oct 31 at 8:58AM
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 986-square-foot condo has two bedrooms and one bathroom. An updated kitchen and refreshed bathroom are among its interior features. The building dates to 1963, and shared amenities include landscaped common grounds and an outdoor pool.
The property is near the Washington & Old Dominion Trail and several parks, with Tysons Corner shopping a short drive away. I-495 and I-66 provide regional road connections. Parking and public transportation options are also noted.
The property is near the Washington & Old Dominion Trail and several parks, with Tysons Corner shopping a short drive away. I-495 and I-66 provide regional road connections. Parking and public transportation options are also noted.
Key Highlights
- Two‑bedroom, one‑bathroom condo with 986 square feet
- Updated kitchen and refreshed bathroom
- Outdoor pool and landscaped common grounds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,759
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,180
$295.2K
Cap Rate 7%
$210,843
$210.8K
Cap Rate 9%
$163,989
$164.0K
Market Conditions
NOI Build-Up for 986 SF
Gross rent
$28.4K $28.80/SF
− Vacancy
−$1.6K −$1.58/SF
EGI
$26.8K $27.22/SF
− OpEx
−$12.1K −$12.25/SF
NOI
$14.8K $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%
$295,180
Cap Rate 7%
$210,843
Cap Rate 9%
$163,989
Alternative Uses
Best Use
Apartment 5plus
$210.8K
$184.5K – $246.0K
NOI $14,759 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.13M
$3.62M – $4.82M
NOI $289,315 @ 7.0% cap · market cap 76.16%
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
1,930
Businesses Nearby
Explore this area
Business Placement
Demographics for 22180, VA
26,666
Population
10,013
Households
2.7
Avg Household Size
38
Median Age
76%
College-Educated
95%
High-School Grad
5.9 sq mi
ZIP Area
4,520
Density / Sq Mi
$181,467
Median Household Income
$90,369
Median Earnings
$2,335
Median Rent
$916,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The condo pairs an updated kitchen and bathroom with access to shared grounds and an outdoor pool.
Where is this residential income property located?
The property is located at 204 PARK TERRACE COURT SE Unit 24 Vienna, VA.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑bedroom, one‑bathroom condo with 986 square feet; Updated kitchen and refreshed bathroom; Outdoor pool and landscaped common grounds
