Two-Bedroom Residential Income
For Sale
$520,000
23315 MILLTOWN KNOLL SQUARE Unit 102, Ashburn, VA 20148
Single-level residence with an open kitchen, dining, and living arrangement in the Ridges at Loudoun Valley community.
Property Size1,439 SF
Price / SF$361.36
Days on Market11
Property Features for 23315 MILLTOWN KNOLL SQUARE Unit 102
General Information
Standard status
Active
Size
1,439 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,849
Building Details
Building Size
1,439 SF
Year Built
2016
Listing Agency:
Coldwell Banker Elite
(808) 255-9432
Listed By:
Alanda K Brewer · License #0225228056
(808) 255-9432
Source:
Kerishull
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 29 at 2:13PM
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 Coldwell Banker Elite
Investment Insights
Based on property information with market context.
This 1,439-square-foot, single-level residential income property was built in 2016 and offers two bedrooms, two full bathrooms, and one half bathroom. The interior centers on an open kitchen with stainless steel appliances, quartz countertops, extensive cabinetry, tile backsplash, and a seating island. The kitchen connects with the dining and living areas, while the second bedroom can accommodate guest use, office space, or both.
Located at 23315 Milltown Knoll Square Unit 102 in Ashburn, Virginia, the property is within the Ridges at Loudoun Valley community. Its layout combines separate bedroom retreats with shared living areas and a convenient half bath for visitors.
Located at 23315 Milltown Knoll Square Unit 102 in Ashburn, Virginia, the property is within the Ridges at Loudoun Valley community. Its layout combines separate bedroom retreats with shared living areas and a convenient half bath for visitors.
Key Highlights
- 1,439 SF single‑level residential income property
- Two bedrooms, 2.5 bathrooms, and one‑level layout
- Kitchen with stainless steel appliances and quartz countertops
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
$22,443
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
4.32%
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%
$448,860
$448.9K
Cap Rate 7%
$320,614
$320.6K
Cap Rate 9%
$249,367
$249.4K
Market Conditions
NOI Build-Up for 1,439 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
$43.7K $30.36/SF
− Vacancy
−$2.9K −$2.00/SF
EGI
$40.8K $28.36/SF
− OpEx
−$18.4K −$12.76/SF
NOI
$22.4K $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%
$448,860
Cap Rate 7%
$320,614
Cap Rate 9%
$249,367
Alternative Uses
Best Use
Apartment 5plus
$320.6K
$280.5K – $374.1K
NOI $22,443 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$451.0K
$394.6K – $526.1K
NOI $31,568 @ 7.0% cap · market cap 6.07%
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
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 - Single-level residence with an open kitchen, dining, and living arrangement in the Ridges at Loudoun Valley community.
Where is this residential income property located?
The property is located at 23315 MILLTOWN KNOLL SQUARE Unit 102 Ashburn, VA.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: 1,439 SF single‑level residential income property; Two bedrooms, 2.5 bathrooms, and one‑level layout; Kitchen with stainless steel appliances and quartz countertops
