Upgraded Residential Income
For Sale
$499,900
23665 HAVELOCK WALK TERRACE Unit 406, Ashburn, VA 20148
Penthouse-level condominium with elevated finishes, private outdoor space, resort amenities, and secure parking access.
Property Size1,229 SF
Price / SF$406.75
Days on Market41
Property Features for 23665 HAVELOCK WALK TERRACE Unit 406
General Information
Standard status
Active
Size
1,229 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,778
Amenities
clubhouse
indoor pool
outdoor pool
fitness center
pickleball courts
bocce courts
art studio
golf simulator
walking trails
lakeside park
gathering spaces
electric fireplace
balcony
custom built-ins
Building Details
Building Size
1,229 SF
Year Built
2025
Listing Agency:
Compass
(703) 973-9570
Listed By:
Jason Thomas · License #0225209062
(703) 973-9570
Source:
Kerishull
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 1:54PM
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.
Built in 2025, this penthouse-level condominium combines an open living arrangement with a den, two full bathrooms, and a private balcony. Interior features include 10-foot ceilings, wide-plank LVP flooring, ceiling-height kitchen cabinetry, quartz surfaces, an island, and stainless steel appliances with a 5-burner gas range and wine refrigerator. An electric fireplace adds a focal point to the living area, while custom built-ins support flexible den use. The primary suite includes a custom walk-in closet, double vanity, and rainfall shower.
Residents have access to a clubhouse, indoor and outdoor pools, fitness center, pickleball and bocce courts, art studio, golf simulator, walking trails, lakeside park, and community gatherings. The property also provides elevator access, a private 1-car garage, secure entry, and a dedicated package room. Condo fees cover building and community amenities, basic cable, trash, water, snow removal, and common grounds and building maintenance. Brambleton Town Center and Washington Dulles International Airport are minutes away, with access to major routes.
Residents have access to a clubhouse, indoor and outdoor pools, fitness center, pickleball and bocce courts, art studio, golf simulator, walking trails, lakeside park, and community gatherings. The property also provides elevator access, a private 1-car garage, secure entry, and a dedicated package room. Condo fees cover building and community amenities, basic cable, trash, water, snow removal, and common grounds and building maintenance. Brambleton Town Center and Washington Dulles International Airport are minutes away, with access to major routes.
Key Highlights
- 2025‑built penthouse‑level condominium with 10‑foot ceilings
- Private 1‑car garage, elevator access, secure entry, and dedicated package room
- Kitchen includes quartz countertops, ceiling‑height cabinetry, 5‑burner gas range, and wine refrigerator
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
$19,167
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
3.83%
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%
$383,340
$383.3K
Cap Rate 7%
$273,814
$273.8K
Cap Rate 9%
$212,967
$213.0K
Market Conditions
NOI Build-Up for 1,229 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
$37.3K $30.36/SF
− Vacancy
−$2.5K −$2.00/SF
EGI
$34.8K $28.36/SF
− OpEx
−$15.7K −$12.76/SF
NOI
$19.2K $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%
$383,340
Cap Rate 7%
$273,814
Cap Rate 9%
$212,967
Alternative Uses
Best Use
Apartment 5plus
$273.8K
$239.6K – $319.5K
NOI $19,167 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$385.2K
$337.0K – $449.4K
NOI $26,961 @ 7.0% cap · market cap 5.39%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Penthouse-level condominium with elevated finishes, private outdoor space, resort amenities, and secure parking access.
Where is this residential income property located?
The property is located at 23665 HAVELOCK WALK TERRACE Unit 406 Ashburn, VA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2025‑built penthouse‑level condominium with 10‑foot ceilings; Private 1‑car garage, elevator access, secure entry, and dedicated package room; Kitchen includes quartz countertops, ceiling‑height cabinetry, 5‑burner gas range, and wine refrigerator
