Two-Bedroom Residential Income
New
For Sale
$535,000
20655 HOPE SPRING TERRACE Unit 301, Ashburn, VA 20147
Condominium residence with a den, private balcony, attached garage, and access to extensive community amenities.
Property Size1,515 SF
Price / SF$353.14
Days on Market4
Property Features for 20655 HOPE SPRING TERRACE Unit 301
General Information
Standard status
Active
Size
1,515 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA + den
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,134
Amenities
indoor pool
outdoor pool
fitness center
pickleball courts
clubhouse
library
game room
walking paths
picnic areas
gated community
tennis courts
bocce ball court
cornhole
party room
card room
trails
on-site management team
balcony
garage
Building Details
Building Size
1,515 SF
Year Built
2015
Listing Agency:
Pearson Smith Realty, LLC
Listed By:
Marie T Barresi · License #0225063593
(703) 915-3905
Source:
Kerishull
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 13 at 11:09AM
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
Investment Insights
Based on property information with market context.
This 1,515-square-foot condominium, built in 2015, offers two bedrooms, two bathrooms, and a den within an open interior arrangement. The kitchen connects with the dining and family room areas and includes upgraded countertops, stainless steel appliances, a gas range, built-in microwave, and dishwasher. Wood flooring, carpeting, crown molding, chair railings, ceiling fans, and window treatments add finished detail throughout. The primary bedroom includes a walk-in closet and private bathroom with a walk-in shower. A screened balcony provides outdoor space, while the refrigerator, water heater, and smoke alarms are new. An attached garage offers interior access and storage potential.
Community amenities include indoor and outdoor pools, fitness facilities, tennis and pickleball courts, a bocce ball court, trails, a clubhouse, library, game room, party room, card room, picnic areas, and planned events. The gated community also has on-site management and landscaped common areas. The property is near One Loudoun's dining, shopping, and entertainment, with access to Route 7 and the Dulles Greenway.
Community amenities include indoor and outdoor pools, fitness facilities, tennis and pickleball courts, a bocce ball court, trails, a clubhouse, library, game room, party room, card room, picnic areas, and planned events. The gated community also has on-site management and landscaped common areas. The property is near One Loudoun's dining, shopping, and entertainment, with access to Route 7 and the Dulles Greenway.
Key Highlights
- 1,515‑square‑foot condominium with two bedrooms, two bathrooms, and a den
- Open layout links the kitchen, dining area, and family room
- Kitchen includes upgraded countertops, stainless steel appliances, gas range, microwave, and dishwasher
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
$23,628
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
4.42%
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%
$472,560
$472.6K
Cap Rate 7%
$337,543
$337.5K
Cap Rate 9%
$262,533
$262.5K
Market Conditions
NOI Build-Up for 1,515 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
$46.0K $30.36/SF
− Vacancy
−$3.0K −$2.00/SF
EGI
$43.0K $28.36/SF
− OpEx
−$19.3K −$12.76/SF
NOI
$23.6K $15.60/SF
Area
Loudoun County, VA
Vacancy
6.60%
Lease Rate
$30.36 /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%
$472,560
Cap Rate 7%
$337,543
Cap Rate 9%
$262,533
Alternative Uses
Best Use
Apartment 5plus
$337.5K
$295.4K – $393.8K
NOI $23,628 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$474.8K
$415.4K – $553.9K
NOI $33,235 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 20147, VA
66,394
Population
25,474
Households
2.6
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
19.8 sq mi
ZIP Area
3,353
Density / Sq Mi
$161,356
Median Household Income
$83,880
Median Earnings
$2,394
Median Rent
$679,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with a den, private balcony, attached garage, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 20655 HOPE SPRING TERRACE Unit 301 Ashburn, VA.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 1,515‑square‑foot condominium with two bedrooms, two bathrooms, and a den; Open layout links the kitchen, dining area, and family room; Kitchen includes upgraded countertops, stainless steel appliances, gas range, microwave, and dishwasher
