Residential Income Property with Covered
For Sale
$475,000
23275 MILLTOWN KNOLL SQUARE Unit 118, Ashburn, VA 20148
Two-bedroom Duval model featuring updated finishes, an island kitchen, and access to resort-style community amenities.
Property Size1,516 SF
Price / SF$313.32
Days on Market81
Property Features for 23275 MILLTOWN KNOLL SQUARE Unit 118
General Information
Standard status
Active
Size
1,516 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,689
Amenities
pools
tennis courts
walking trails
playgrounds
clubhouse
fitness center
Building Details
Building Size
1,516 SF
Year Built
2020
Listing Agency:
Samson Properties
Listed By:
John E Grzejka · License #0225205693
(703) 926-8412
Source:
Kerishull
Added: Jun 17
Changed: Sep 3
Last Checked: Sep 4 at 11:13AM
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.
The Duval model offers a two-bedroom layout with fresh paint and brand-new carpet. Its kitchen includes granite countertops, stainless steel appliances, and a center island, while the kitchen connects directly with the living area and a private covered patio. Interior equipment includes forced air, central A/C, a built-in microwave, washer, dryer, dishwasher, disposal, icemaker, refrigerator, and stove. The property was built in 2020.
Community amenities include pools, tennis courts, walking trails, playgrounds, a clubhouse, and a full fitness center, along with on-site parking. The Ashburn property is minutes from Loudoun Station Metro, shopping, dining, and major commuter routes.
Community amenities include pools, tennis courts, walking trails, playgrounds, a clubhouse, and a full fitness center, along with on-site parking. The Ashburn property is minutes from Loudoun Station Metro, shopping, dining, and major commuter routes.
Key Highlights
- Two‑bedroom Duval model with fresh paint and brand‑new carpet
- Kitchen with granite countertops, stainless steel appliances, and center island
- Private covered patio connects to the living 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
$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
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 - Two-bedroom Duval model featuring updated finishes, an island kitchen, and access to resort-style community amenities.
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: Two‑bedroom Duval model with fresh paint and brand‑new carpet; Kitchen with granite countertops, stainless steel appliances, and center island; Private covered patio connects to the living area
