Turnkey 2BR/2BA Condo with
For Sale
$280,000
2200 CASTLE ROCK SQUARE #2B, Reston, VA 20191
Fully renovated first-floor condo features a remodeled kitchen, updated baths, private patio, and two assigned parking spaces.
Property Size894 SF
Price / SF$313.20
Days on Market66
Property Features for 2200 CASTLE ROCK SQUARE #2B
General Information
Standard status
Active
Size
894 SF
Total Parking Spaces
2
Property subtype
Condominium
Amenities
pools
tennis courts
trails
Building Details
Year Built
1974
Listing Agency:
Homecoin.com
Listed By:
Jonathan Minerick · License #RB-0031296
(888) 400-2513
Source:
Cummingsrealtors
Added: Jul 7
Changed: Sep 10
Last Checked: Sep 10 at 7:26AM
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 Homecoin.com
Investment Insights
Based on property information with market context.
This fully renovated, turnkey first-floor condo offers a one-level 2BR/2BA layout with fresh paint and brand-new flooring throughout. The remodeled galley kitchen includes granite countertops, stainless steel appliances, and abundant cabinet storage. Both bathrooms have modern upgrades, and a new stacked washer/dryer is located inside the unit. An inviting dining area connects the kitchen and living space, with both bedrooms providing decent size and closet storage. Enjoy a private patio with tree views.
The HOA covers all utilities including electricity, gas, water, sewer, trash, and snow removal, along with full building maintenance, including the HVAC and water heater systems. Owners also receive access to Reston Association amenities, including pools, tennis courts, and miles of trails. Additional assigned storage is provided by the community.
Two assigned parking spaces are included, along with ample visitor parking. The property is under a mile to the Metro and is moments from Reston Town Center, major routes, and Dulles Airport.
The HOA covers all utilities including electricity, gas, water, sewer, trash, and snow removal, along with full building maintenance, including the HVAC and water heater systems. Owners also receive access to Reston Association amenities, including pools, tennis courts, and miles of trails. Additional assigned storage is provided by the community.
Two assigned parking spaces are included, along with ample visitor parking. The property is under a mile to the Metro and is moments from Reston Town Center, major routes, and Dulles Airport.
Key Highlights
- Fully renovated first‑floor 2BR/2BA condo in Reston’s Shadowood community
- Recently remodeled galley kitchen with granite countertops and stainless steel appliances
- Both bathrooms updated; brand‑new stacked washer/dryer in the unit
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
$13,943
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
4.98%
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%
$278,860
$278.9K
Cap Rate 7%
$199,186
$199.2K
Cap Rate 9%
$154,922
$154.9K
Market Conditions
NOI Build-Up for 894 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
$27.1K $30.36/SF
− Vacancy
−$1.8K −$2.00/SF
EGI
$25.4K $28.36/SF
− OpEx
−$11.4K −$12.76/SF
NOI
$13.9K $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%
$278,860
Cap Rate 7%
$199,186
Cap Rate 9%
$154,922
Alternative Uses
Best Use
Apartment 5plus
$199.2K
$174.3K – $232.4K
NOI $13,943 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$280.2K
$245.2K – $326.9K
NOI $19,612 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Fully renovated first-floor condo features a remodeled kitchen, updated baths, private patio, and two assigned parking spaces.
Where is this residential income property located?
The property is located at 2200 CASTLE ROCK SQUARE #2B Reston, VA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Fully renovated first‑floor 2BR/2BA condo in Reston’s Shadowood community; Recently remodeled galley kitchen with granite countertops and stainless steel appliances; Both bathrooms updated; brand‑new stacked washer/dryer in the unit
