Residential Income Property with
For Sale
$569,900
2319 FIELD POINT ROAD Unit 102, Herndon, VA 20171
First-level condo combines flexible workspace, contemporary finishes, private outdoor space, and extensive community amenities.
Property Size1,451 SF
Price / SF$392.76
Days on Market110
Property Features for 2319 FIELD POINT ROAD Unit 102
General Information
Standard status
Active
Size
1,451 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA + office
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,056
Amenities
in-unit laundry room
tankless water heater
assigned garage parking
EV charging station
secure lobby mail and package room
package concierge service
private balcony
tot lot
playground
dog park
basketball courts
tennis courts
walking trail
Building Details
Building Size
1,451 SF
Year Built
2021
Listing Agency:
Keller Williams Realty
(571) 228-5648
Listed By:
Paul G Bedewi · License #0225086190
(571) 228-5648
Source:
Kerishull
Added: May 15
Changed: Aug 30
Last Checked: Aug 31 at 9:28PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This first-level condominium at The Flats at Metropark at Arrowbrook offers 1,451 square feet with two bedrooms, an office, and two full bathrooms. The open interior connects the living, dining, and kitchen areas, with hardwood flooring, contemporary fixtures, quartz countertops, stainless steel appliances, subway tile, and an island with seating. A private balcony extends from the dining area, while the primary suite includes a walk-in closet and en-suite bath with dual vanities and a frameless glass shower. In-unit laundry and a tankless water heater add functional convenience.
The residence also includes assigned garage parking, access to an EV charging station in the parking lot, and a secure lobby mail and package room with concierge service. Community amenities include a tot lot, playground, dog park, basketball and tennis courts, and a walking trail connecting to the Metro. The property is in Herndon, near Innovation Center Metro, Dulles Airport, shopping, dining, and major commuter routes.
The residence also includes assigned garage parking, access to an EV charging station in the parking lot, and a secure lobby mail and package room with concierge service. Community amenities include a tot lot, playground, dog park, basketball and tennis courts, and a walking trail connecting to the Metro. The property is in Herndon, near Innovation Center Metro, Dulles Airport, shopping, dining, and major commuter routes.
Key Highlights
- 1,451 square feet with 2 bedrooms, a dedicated office, and 2 full bathrooms
- Contemporary kitchen with quartz countertops, stainless steel appliances, subway tile backsplash, and center island
- Private balcony opens from the dining area
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
$22,630
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
3.97%
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%
$452,600
$452.6K
Cap Rate 7%
$323,286
$323.3K
Cap Rate 9%
$251,444
$251.4K
Market Conditions
NOI Build-Up for 1,451 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
$44.1K $30.36/SF
− Vacancy
−$2.9K −$2.00/SF
EGI
$41.1K $28.36/SF
− OpEx
−$18.5K −$12.76/SF
NOI
$22.6K $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%
$452,600
Cap Rate 7%
$323,286
Cap Rate 9%
$251,444
Alternative Uses
Best Use
Apartment 5plus
$323.3K
$282.9K – $377.2K
NOI $22,630 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$454.7K
$397.9K – $530.5K
NOI $31,831 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 20171, VA
51,759
Population
19,221
Households
2.7
Avg Household Size
36
Median Age
74%
College-Educated
97%
High-School Grad
11.6 sq mi
ZIP Area
4,462
Density / Sq Mi
$166,154
Median Household Income
$89,943
Median Earnings
$2,276
Median Rent
$770,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-level condo combines flexible workspace, contemporary finishes, private outdoor space, and extensive community amenities.
Where is this residential income property located?
The property is located at 2319 FIELD POINT ROAD Unit 102 Herndon, VA.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: 1,451 square feet with 2 bedrooms, a dedicated office, and 2 full bathrooms; Contemporary kitchen with quartz countertops, stainless steel appliances, subway tile backsplash, and center island; Private balcony opens from the dining area
