Residential Income Property with
For Sale
$285,000
2311 PIMMIT DRIVE Unit 706, Falls Church, VA 22043
Renovated unit with updated HVAC, kitchen, flooring, and windows in a community with extensive shared amenities.
Property Size862 SF
Price / SF$330.63
Days on Market90
Property Features for 2311 PIMMIT DRIVE Unit 706
General Information
Standard status
Active
Size
862 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,694
Amenities
balcony
free parking
24-hour front desk
FOB entry
security cameras
storage unit
exercise room
outdoor pool
children's pool
patio seating & tables
gas grill area
children's playground
package pickup
pet friendly
Building Details
Building Size
862 SF
Year Built
1974
Listing Agency:
RE/MAX Allegiance
Listed By:
Susan C Good · License #0225066612
(703) 599-2044
Source:
Irvinrealtyllc
Added: Jul 31
Changed: Oct 27
Last Checked: Oct 27 at 3:46AM
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 RE/MAX Allegiance
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Investment Insights
Based on property information with market context.
This 862-square-foot residential unit at Idylwood Towers East includes a balcony and expansive views. Renovations include a new HVAC system, floor-to-ceiling windows and sliding door, luxury vinyl flooring, fresh paint, and a remodeled kitchen. The building was completed in 1974. The condo fee covers utilities; residents pay separately for phone, internet, cable, and streaming services. The building switches seasonally between heating and air conditioning.
Community features include a 24-hour front desk, FOB entry, security cameras, a storage unit, exercise room, outdoor pool and children's pool, patio seating, gas grill area, playground, and free parking. The property is across the street from Ruckstuhl Park, with access to major routes, Metro, bus stops, shopping, restaurants, and everyday services. The community allows up to two pets, subject to size limits and annual registration.
Community features include a 24-hour front desk, FOB entry, security cameras, a storage unit, exercise room, outdoor pool and children's pool, patio seating, gas grill area, playground, and free parking. The property is across the street from Ruckstuhl Park, with access to major routes, Metro, bus stops, shopping, restaurants, and everyday services. The community allows up to two pets, subject to size limits and annual registration.
Key Highlights
- 862‑square‑foot unit with balcony and expansive views
- Renovations include new HVAC, floor‑to‑ceiling windows, and a remodeled kitchen
- Condo fee covers utilities; phone, internet, cable, and streaming are separate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,903
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,060
$258.1K
Cap Rate 7%
$184,329
$184.3K
Cap Rate 9%
$143,367
$143.4K
Market Conditions
NOI Build-Up for 862 SF
Gross rent
$24.8K $28.80/SF
− Vacancy
−$1.4K −$1.58/SF
EGI
$23.5K $27.22/SF
− OpEx
−$10.6K −$12.25/SF
NOI
$12.9K $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%
$258,060
Cap Rate 7%
$184,329
Cap Rate 9%
$143,367
Alternative Uses
Best Use
Apartment 5plus
$184.3K
$161.3K – $215.1K
NOI $12,903 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.61M
$3.16M – $4.22M
NOI $252,930 @ 7.0% cap · market cap 88.75%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
413
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 - Renovated unit with updated HVAC, kitchen, flooring, and windows in a community with extensive shared amenities.
Where is this residential income property located?
The property is located at 2311 PIMMIT DRIVE Unit 706 Falls Church, VA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 862‑square‑foot unit with balcony and expansive views; Renovations include new HVAC, floor‑to‑ceiling windows, and a remodeled kitchen; Condo fee covers utilities; phone, internet, cable, and streaming are separate
