Two-Bedroom Residential Income
For Sale
$307,700
2300 PIMMIT DRIVE Unit 1201, Falls Church, VA 22043
A private balcony and in-unit laundry complement this two-bedroom, two-bathroom residence.
Property Size1,182 SF
Price / SF$260.32
Days on Market34
Property Features for 2300 PIMMIT DRIVE Unit 1201
General Information
Standard status
Active
Size
1,182 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,471
Amenities
swimming pool
fitness center
assigned extra storage
in-unit washer and dryer
private balcony
Building Details
Building Size
1,182 SF
Year Built
1974
Listing Agency:
Fairfax Realty Select
Listed By:
Stella Seong · License #0225080674
(703) 772-7680
Source:
Jackrealtygroup
Added: Sep 25
Changed: Oct 27
Last Checked: Oct 26 at 2:55PM
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 Fairfax Realty Select
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Investment Insights
Based on property information with market context.
Located on the 12th floor, this 1,182-square-foot residence has two bedrooms, two full bathrooms, and a private balcony. The living room has laminate flooring, and the unit has been freshly painted. Recent updates include the HVAC compressor, bathroom light fixtures, and mirrors. An in-unit washer and dryer are also included.
Building amenities include a swimming pool, fitness center, and assigned basement storage. The condo fee covers electricity, gas, water, and trash service. The property is in Falls Church, minutes from Tysons Corner and near shopping, dining, entertainment, and major commuter routes toward Washington, D.C.
Building amenities include a swimming pool, fitness center, and assigned basement storage. The condo fee covers electricity, gas, water, and trash service. The property is in Falls Church, minutes from Tysons Corner and near shopping, dining, entertainment, and major commuter routes toward Washington, D.C.
Key Highlights
- Two bedrooms and two full bathrooms in 1,182 square feet
- 12th‑floor residence with a private balcony
- Fresh paint throughout; laminate flooring in the living room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,693
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,860
$353.9K
Cap Rate 7%
$252,757
$252.8K
Cap Rate 9%
$196,589
$196.6K
Market Conditions
NOI Build-Up for 1,182 SF
Gross rent
$34.0K $28.80/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$32.2K $27.22/SF
− OpEx
−$14.5K −$12.25/SF
NOI
$17.7K $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%
$353,860
Cap Rate 7%
$252,757
Cap Rate 9%
$196,589
Alternative Uses
Best Use
Apartment 5plus
$252.8K
$221.2K – $294.9K
NOI $17,693 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.95M
$4.34M – $5.78M
NOI $346,825 @ 7.0% cap · market cap 112.72%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
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Business Placement
Demographics for 22043, VA
25,850
Population
10,316
Households
2.5
Avg Household Size
37
Median Age
69%
College-Educated
93%
High-School Grad
4.7 sq mi
ZIP Area
5,500
Density / Sq Mi
$143,836
Median Household Income
$80,230
Median Earnings
$2,136
Median Rent
$868,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A private balcony and in-unit laundry complement this two-bedroom, two-bathroom residence.
Where is this residential income property located?
The property is located at 2300 PIMMIT DRIVE Unit 1201 Falls Church, VA.
What is the asking price?
The asking price for this property is $307,700.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms in 1,182 square feet; 12th‑floor residence with a private balcony; Fresh paint throughout; laminate flooring in the living room
