Top-Floor Residential Income
For Sale
$724,900
23640 BOLTON CRESCENT TERRACE Unit 403, Ashburn, VA 20148
Nearly 1,900-square-foot condominium with three bedrooms, a den, private balcony, and access to extensive active-adult amenities.
Property Size1,908 SF
Price / SF$379.93
Days on Market101
Property Features for 23640 BOLTON CRESCENT TERRACE Unit 403
General Information
Standard status
Active
Size
1,908 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,298
Amenities
private balcony
indoor and outdoor pools
fitness center
golf simulator
theater room
art studio
demonstration kitchen
greenhouse
card rooms
billiards
gathering spaces
pickleball and bocce courts
scenic walking trails
lake with fishing pier
Building Details
Building Size
1,908 SF
Year Built
2025
Listing Agency:
Compass
(703) 929-2324
Listed By:
Scotti S Sellers · License #0225085545I
(703) 929-2324
Source:
Kerishull
Added: May 22
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 Compass
Investment Insights
Based on property information with market context.
This top-floor condominium in the 55+ Birchwood at Brambleton community was built in 2025 and used only as a second home. The nearly 1,900-square-foot residence includes three bedrooms, two full bathrooms, a home office or den, and open living and dining areas. Its kitchen features stainless steel appliances, white quartz countertops, soft-close cabinetry, and an oversized island. A private balcony extends the living space, while the owner’s suite includes a walk-in closet and a bathroom with dual vanities and a frameless shower with bench seating.
Community amenities include indoor and outdoor pools, a fitness center, golf simulator, theater, art studio, demonstration kitchen, greenhouse, card rooms, billiards, pickleball and bocce courts, walking trails, and a lake with fishing pier. Association fees cover basic Verizon Fios cable and internet, water, sewer, trash, and exterior maintenance. The property is near shopping, dining, healthcare, Brambleton Town Center, the Silver Line Metro, and Dulles Airport.
Community amenities include indoor and outdoor pools, a fitness center, golf simulator, theater, art studio, demonstration kitchen, greenhouse, card rooms, billiards, pickleball and bocce courts, walking trails, and a lake with fishing pier. Association fees cover basic Verizon Fios cable and internet, water, sewer, trash, and exterior maintenance. The property is near shopping, dining, healthcare, Brambleton Town Center, the Silver Line Metro, and Dulles Airport.
Key Highlights
- Top‑floor condominium built in 2025 and used only as a second home
- Nearly 1,900 square feet with 3 bedrooms, 2 full bathrooms, and a home office or den
- Kitchen includes stainless steel appliances, white quartz countertops, soft‑close cabinetry, and an oversized 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
$29,757
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
4.10%
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%
$595,140
$595.1K
Cap Rate 7%
$425,100
$425.1K
Cap Rate 9%
$330,633
$330.6K
Market Conditions
NOI Build-Up for 1,908 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
$57.9K $30.36/SF
− Vacancy
−$3.8K −$2.00/SF
EGI
$54.1K $28.36/SF
− OpEx
−$24.3K −$12.76/SF
NOI
$29.8K $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%
$595,140
Cap Rate 7%
$425,100
Cap Rate 9%
$330,633
Alternative Uses
Best Use
Apartment 5plus
$425.1K
$372.0K – $496.0K
NOI $29,757 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$598.0K
$523.2K – $697.6K
NOI $41,857 @ 7.0% cap · market cap 5.77%
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 - Nearly 1,900-square-foot condominium with three bedrooms, a den, private balcony, and access to extensive active-adult amenities.
Where is this residential income property located?
The property is located at 23640 BOLTON CRESCENT TERRACE Unit 403 Ashburn, VA.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Top‑floor condominium built in 2025 and used only as a second home; Nearly 1,900 square feet with 3 bedrooms, 2 full bathrooms, and a home office or den; Kitchen includes stainless steel appliances, white quartz countertops, soft‑close cabinetry, and an oversized island
