Residential Income Property with
For Sale
$525,000
2324 WIND CHARM STREET Unit 306, Herndon, VA 20171
Two-bedroom condo with a den, covered balcony, tandem garage parking, and access to extensive community amenities.
Property Size1,515 SF
Price / SF$346.53
Days on Market33
Property Features for 2324 WIND CHARM STREET Unit 306
General Information
Standard status
Active
Size
1,515 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA + den
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,483
Amenities
playground
tot lot
dog park
basketball courts
tennis courts
walking trail
covered balcony
Building Details
Building Size
1,515 SF
Year Built
2020
Listing Agency:
Keller Williams Realty
(703) 844-3464
Listed By:
Sarah A. Reynolds · License #0225174916
(703) 844-3464
Source:
Kerishull
Added: Jul 30
Changed: Aug 31
Last Checked: Aug 31 at 12:08AM
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.
Built in 2020, this elevator-served condominium provides 1,515 square feet of single-level space with two bedrooms, two full bathrooms, and a separate den. The open living, dining, and kitchen areas feature expansive windows, wide-plank flooring, quartz counters, a center island, KitchenAid stainless steel appliances, and a hood vented outside. The primary suite includes a walk-in closet and bathroom with dual vanities and a glass-enclosed shower, while the second bedroom also has a walk-in closet. A dedicated laundry room, custom window treatments, storage, and a covered balcony add practical functionality.
The property includes a dedicated two-car tandem garage space beneath the building along with an electric vehicle charger. Community amenities include a playground, tot lot, dog park, basketball and tennis courts, and a walking trail connecting to Innovation Center Metro Station. The address is in Herndon, Virginia, near Reston Town Center, Dulles International Airport, shopping, dining, parks, and major commuter routes.
The property includes a dedicated two-car tandem garage space beneath the building along with an electric vehicle charger. Community amenities include a playground, tot lot, dog park, basketball and tennis courts, and a walking trail connecting to Innovation Center Metro Station. The address is in Herndon, Virginia, near Reston Town Center, Dulles International Airport, shopping, dining, parks, and major commuter routes.
Key Highlights
- 1,515 SF condominium with two bedrooms, two full bathrooms, and a den
- 2020 construction with elevator access and single‑level living
- Quartz kitchen counters, center island, KitchenAid stainless steel appliances, and exterior‑vented hood
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
$23,628
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
4.50%
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%
$472,560
$472.6K
Cap Rate 7%
$337,543
$337.5K
Cap Rate 9%
$262,533
$262.5K
Market Conditions
NOI Build-Up for 1,515 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
$46.0K $30.36/SF
− Vacancy
−$3.0K −$2.00/SF
EGI
$43.0K $28.36/SF
− OpEx
−$19.3K −$12.76/SF
NOI
$23.6K $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%
$472,560
Cap Rate 7%
$337,543
Cap Rate 9%
$262,533
Alternative Uses
Best Use
Apartment 5plus
$337.5K
$295.4K – $393.8K
NOI $23,628 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$474.8K
$415.4K – $553.9K
NOI $33,235 @ 7.0% cap · market cap 6.33%
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 - Two-bedroom condo with a den, covered balcony, tandem garage parking, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 2324 WIND CHARM STREET Unit 306 Herndon, VA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,515 SF condominium with two bedrooms, two full bathrooms, and a den; 2020 construction with elevator access and single‑level living; Quartz kitchen counters, center island, KitchenAid stainless steel appliances, and exterior‑vented hood
