Two-Level Residential Income
For Sale
$475,000
23275 MILLTOWN KNOLL SQUARE Unit 118, Ashburn, VA 20148
End-unit condominium with updated finishes, private bedroom baths, covered patio, and reserved parking.
Property Size1,516 SF
Price / SF$313.32
Days on Market75
Property Features for 23275 MILLTOWN KNOLL SQUARE Unit 118
General Information
Standard status
Active
Size
1,516 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,689
Amenities
clubhouse
swimming pool
fitness center
tennis courts
playgrounds
covered patio
Building Details
Building Size
1,516 SF
Year Built
2020
Listing Agency:
Samson Properties
(703) 926-8412
Listed By:
John E Grzejka · License #0225205693
(703) 926-8412
Source:
Kerishull
Added: Jun 17
Changed: Aug 28
Last Checked: Aug 29 at 1:44PM
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.
This 1,516-square-foot end-unit condominium, built in 2020, spans two levels with an open main-floor arrangement connecting the family room, dining area, and kitchen. The kitchen includes granite counters, subway tile backsplash, soft-close cabinets, stainless steel appliances, and a center island. Upstairs are two bedrooms, each paired with a full bathroom, along with a laundry room equipped with a washer and dryer. A powder room serves the main level, while the covered patio extends the living area outdoors.
The property is located in Ashburn near shopping, dining, entertainment, and daily services. Access to the Silver Line Metro, Dulles International Airport, Route 267, Route 28, and other commuter routes is provided from the surrounding area. Community amenities include a clubhouse, swimming pool, fitness center, tennis courts, and playgrounds. Reserved parking is positioned directly in front of the unit, and exterior maintenance is included through the condo and HOA structure.
The property is located in Ashburn near shopping, dining, entertainment, and daily services. Access to the Silver Line Metro, Dulles International Airport, Route 267, Route 28, and other commuter routes is provided from the surrounding area. Community amenities include a clubhouse, swimming pool, fitness center, tennis courts, and playgrounds. Reserved parking is positioned directly in front of the unit, and exterior maintenance is included through the condo and HOA structure.
Key Highlights
- 1,516‑square‑foot end‑unit condominium built in 2020
- Two‑level layout with two bedrooms and two private full bathrooms
- Kitchen with granite counters, subway tile backsplash, stainless steel appliances, and center island
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
$23,643
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
4.98%
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%
$472,860
$472.9K
Cap Rate 7%
$337,757
$337.8K
Cap Rate 9%
$262,700
$262.7K
Market Conditions
NOI Build-Up for 1,516 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%
$472,860
Cap Rate 7%
$337,757
Cap Rate 9%
$262,700
Alternative Uses
Best Use
Apartment 5plus
$337.8K
$295.5K – $394.1K
NOI $23,643 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$475.1K
$415.7K – $554.3K
NOI $33,257 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 20148, VA
61,793
Population
20,413
Households
3
Avg Household Size
34
Median Age
77%
College-Educated
97%
High-School Grad
19.4 sq mi
ZIP Area
3,185
Density / Sq Mi
$233,502
Median Household Income
$119,027
Median Earnings
$2,647
Median Rent
$843,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - End-unit condominium with updated finishes, private bedroom baths, covered patio, and reserved parking.
Where is this residential income property located?
The property is located at 23275 MILLTOWN KNOLL SQUARE Unit 118 Ashburn, VA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,516‑square‑foot end‑unit condominium built in 2020; Two‑level layout with two bedrooms and two private full bathrooms; Kitchen with granite counters, subway tile backsplash, stainless steel appliances, and center island
