Residential Income Property with
For Sale
$325,000
2311 PIMMIT DRIVE Unit 304, Falls Church, VA 22043
The two-bedroom, two-bath unit features an updated kitchen and access to shared fitness and gathering spaces.
Property Size1,182 SF
Price / SF$274.96
Days on Market49
Property Features for 2311 PIMMIT DRIVE Unit 304
General Information
Standard status
Active
Size
1,182 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,279
Amenities
pool
library
party room
exercise room
24-hour front desk
Building Details
Building Size
1,182 SF
Year Built
1974
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Sep 10
Changed: Oct 26
Last Checked: Oct 26 at 2:53PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 1,182-square-foot residence at Idylwood Towers has two bedrooms and two full bathrooms. Interior updates include hardwood and ceramic flooring, double-pane windows, and a renovated kitchen with granite counters, stainless steel appliances, and cherry cabinetry. The primary bedroom includes a walk-in closet and private bath. A private balcony extends from the living room and faces the courtyard and pool.
Located on the third floor, the unit is served by a building with a two-story lobby, 24-hour front desk, library, party room, and exercise room. Shopping and restaurants are within walking distance, and the property is near I-66 and the West Falls Church Metro station. Tysons Corner and the Dulles Technology Corridor are also identified as nearby destinations.
Located on the third floor, the unit is served by a building with a two-story lobby, 24-hour front desk, library, party room, and exercise room. Shopping and restaurants are within walking distance, and the property is near I-66 and the West Falls Church Metro station. Tysons Corner and the Dulles Technology Corridor are also identified as nearby destinations.
Key Highlights
- 1,182‑square‑foot residence with two bedrooms and two full bathrooms
- Private living‑room balcony overlooking the courtyard and pool
- Kitchen updated with granite counters, stainless steel appliances, and cherry cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,693
Cap Rate
5.44%
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 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.95M
$4.34M – $5.78M
NOI $346,825 @ 7.0% cap · market cap 106.72%
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
413
Businesses Nearby
Explore this area
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 - The two-bedroom, two-bath unit features an updated kitchen and access to shared fitness and gathering spaces.
Where is this residential income property located?
The property is located at 2311 PIMMIT DRIVE Unit 304 Falls Church, VA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,182‑square‑foot residence with two bedrooms and two full bathrooms; Private living‑room balcony overlooking the courtyard and pool; Kitchen updated with granite counters, stainless steel appliances, and cherry cabinetry
