Top-Floor Residential Income
New
For Sale
$599,999
2319 FIELD POINT ROAD Unit 404, Herndon, VA 20171
Contemporary elevator-served residence with private outdoor space, dedicated parking, and convenient access to transit and daily amenities.
Property Size1,469 SF
Price / SF$408.44
Days on Market5
Property Features for 2319 FIELD POINT ROAD Unit 404
General Information
Standard status
Active
Size
1,469 SF
Total Parking Spaces
3
Elevators
Yes
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,987
Amenities
EV charging stations
Package Concierge locker system
Building Details
Building Size
1,469 SF
Year Built
2021
Listing Agency:
Samson Properties
Listed By:
Michelina A Queri · License #0225078717
(703) 217-1234
Source:
Kerishull
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 12 at 10:35AM
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 Samson Properties
Investment Insights
Based on property information with market context.
Completed in 2021, this 1,469-square-foot top-floor residence offers a two-bedroom, two-full-bath layout with separated bedroom areas and a dedicated laundry room near the entry. The home includes a private balcony with an exterior storage closet, an owner's suite with an oversized walk-in closet, and a kitchen equipped with an oversized island, quartz countertops, shaker cabinetry, and stainless-steel appliances.
Three dedicated parking options accompany the residence: one garage space, one reserved outdoor space, and one community-lot permit. The elevator-served building also provides on-site EV charging stations and a secure Package Concierge locker system. The property is within walking distance of Innovation Metro Station, grocery stores, and dining options in Herndon, VA.
Three dedicated parking options accompany the residence: one garage space, one reserved outdoor space, and one community-lot permit. The elevator-served building also provides on-site EV charging stations and a secure Package Concierge locker system. The property is within walking distance of Innovation Metro Station, grocery stores, and dining options in Herndon, VA.
Key Highlights
- 1,469‑square‑foot top‑floor residence completed in 2021
- Two‑bedroom, two‑full‑bath layout with separated bedroom areas
- Three dedicated parking spaces: one garage, one reserved outdoor, and one community‑lot permit
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
$22,910
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
3.82%
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%
$458,200
$458.2K
Cap Rate 7%
$327,286
$327.3K
Cap Rate 9%
$254,556
$254.6K
Market Conditions
NOI Build-Up for 1,469 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
$44.6K $30.36/SF
− Vacancy
−$2.9K −$2.00/SF
EGI
$41.7K $28.36/SF
− OpEx
−$18.7K −$12.76/SF
NOI
$22.9K $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%
$458,200
Cap Rate 7%
$327,286
Cap Rate 9%
$254,556
Alternative Uses
Best Use
Apartment 5plus
$327.3K
$286.4K – $381.8K
NOI $22,910 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$460.4K
$402.8K – $537.1K
NOI $32,226 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary elevator-served residence with private outdoor space, dedicated parking, and convenient access to transit and daily amenities.
Where is this residential income property located?
The property is located at 2319 FIELD POINT ROAD Unit 404 Herndon, VA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 1,469‑square‑foot top‑floor residence completed in 2021; Two‑bedroom, two‑full‑bath layout with separated bedroom areas; Three dedicated parking spaces: one garage, one reserved outdoor, and one community‑lot permit
