Updated Residential Income
For Sale
$598,000
2665 MANHATTAN PLACE Unit 310, Vienna, VA 22180
Updated condominium residence with south-facing windows and direct access to Metro service, shopping, dining, and commuter routes.
Property Size1,532 SF
Price / SF$390.34
Days on Market39
Property Features for 2665 MANHATTAN PLACE Unit 310
General Information
Standard status
Active
Size
1,532 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,637
Building Details
Building Size
1,532 SF
Year Built
2003
Listing Agency:
Signature Home Realty LLC
(301) 659-6184
Listed By:
Zhang Tian
(301) 659-6184
Source:
Kerishull
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 28 at 1:51PM
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 Signature Home Realty LLC
Investment Insights
Based on property information with market context.
This 1,532-square-foot condominium residence, built in 2003, has received a broad set of updates within the past two years. Improvements include a new dishwasher, refrigerator, stove, washer and dryer, water heater, light fixtures, and heating system, along with fresh interior paint. South-facing windows bring natural light into the home, while the layout supports practical everyday living.
The property is located across from a Metro station in Vienna, with access to shopping, dining, entertainment, Tysons, the Mosaic District, major commuter routes, and public transportation. Its combination of recent interior improvements, transit access, and a functional condominium configuration provides a straightforward residential income property offering.
The property is located across from a Metro station in Vienna, with access to shopping, dining, entertainment, Tysons, the Mosaic District, major commuter routes, and public transportation. Its combination of recent interior improvements, transit access, and a functional condominium configuration provides a straightforward residential income property offering.
Key Highlights
- 1,532‑square‑foot condominium residence
- Built in 2003
- Across from a Metro station in Vienna
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
$22,932
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%
$458,640
$458.6K
Cap Rate 7%
$327,600
$327.6K
Cap Rate 9%
$254,800
$254.8K
Market Conditions
NOI Build-Up for 1,532 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
$44.1K $28.80/SF
− Vacancy
−$2.4K −$1.58/SF
EGI
$41.7K $27.22/SF
− OpEx
−$18.8K −$12.25/SF
NOI
$22.9K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /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%
$458,640
Cap Rate 7%
$327,600
Cap Rate 9%
$254,800
Alternative Uses
Best Use
Apartment 5plus
$327.6K
$286.7K – $382.2K
NOI $22,932 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.42M
$5.62M – $7.49M
NOI $449,523 @ 7.0% cap · market cap 75.17%
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
1,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 22180, VA
26,666
Population
10,013
Households
2.7
Avg Household Size
38
Median Age
76%
College-Educated
95%
High-School Grad
5.9 sq mi
ZIP Area
4,520
Density / Sq Mi
$181,467
Median Household Income
$90,369
Median Earnings
$2,335
Median Rent
$916,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with south-facing windows and direct access to Metro service, shopping, dining, and commuter routes.
Where is this residential income property located?
The property is located at 2665 MANHATTAN PLACE Unit 310 Vienna, VA.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: 1,532‑square‑foot condominium residence; Built in 2003; Across from a Metro station in Vienna
