Two-Bedroom Residential Income
For Sale
$459,950
2665 PROSPERITY AVENUE Unit 318, Fairfax, VA 22031
The condominium includes two assigned garage spaces and access to community fitness, recreation, and concierge amenities.
Property Size1,085 SF
Price / SF$423.92
Days on Market71
Property Features for 2665 PROSPERITY AVENUE Unit 318
General Information
Standard status
Active
Size
1,085 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,679
Amenities
24-hour security
concierge desk
on-site management
outdoor pool
BBQ station
courtyards
fitness center
indoor basketball court
party room
game room
dog park
EV charging station
Building Details
Building Size
1,085 SF
Year Built
2006
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
Listed By:
Marlboro Xon · License #0225197882
(202) 834-8343
Source:
Mxwrealestate
Added: Aug 22
Changed: Oct 31
Last Checked: Oct 31 at 2:59AM
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 Berkshire Hathaway HomeServices PenFed Realty
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Investment Insights
Based on property information with market context.
This 1,085-square-foot condominium has two bedrooms and two bathrooms, with an open living area, hardwood floors, and a kitchen with granite counters, stainless steel appliances, cabinetry, and a breakfast bar. The primary bedroom has a walk-in closet and an en-suite bathroom with double sinks. The unit also includes two assigned garage parking spaces and a storage unit. Recent work includes fresh paint, new blinds, and a new toilet; the A/C unit, washer, dryer, dishwasher, and range were replaced within the past 1–3 years. The building dates to 2006 and offers 24-hour security, concierge service, on-site management, a pool, fitness center, indoor basketball court, dog park, EV charging, and additional shared spaces.
The condominium is directly across from the Dunn Loring Metro station and near shops, restaurants, and a Harris Teeter supermarket. The Mosaic District is a short walk away, with access to I-495 and I-66 also noted. Cox internet and Verizon Fios are wired in the unit.
The condominium is directly across from the Dunn Loring Metro station and near shops, restaurants, and a Harris Teeter supermarket. The Mosaic District is a short walk away, with access to I-495 and I-66 also noted. Cox internet and Verizon Fios are wired in the unit.
Key Highlights
- 1,085‑square‑foot condominium with 2 bedrooms and 2 bathrooms
- Two assigned garage parking spaces and a storage unit
- Directly across from the Dunn Loring Metro station
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,241
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,820
$324.8K
Cap Rate 7%
$232,014
$232.0K
Cap Rate 9%
$180,456
$180.5K
Market Conditions
NOI Build-Up for 1,085 SF
Gross rent
$31.2K $28.80/SF
− Vacancy
−$1.7K −$1.58/SF
EGI
$29.5K $27.22/SF
− OpEx
−$13.3K −$12.25/SF
NOI
$16.2K $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 Rate 5%
$324,820
Cap Rate 7%
$232,014
Cap Rate 9%
$180,456
Alternative Uses
Best Use
Apartment 5plus
$232.0K
$203.0K – $270.7K
NOI $16,241 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.55M
$3.98M – $5.31M
NOI $318,363 @ 7.0% cap · market cap 69.22%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,075
Businesses Nearby
Explore this area
Business Placement
Demographics for 22031, VA
35,256
Population
15,390
Households
2.3
Avg Household Size
36
Median Age
72%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,966
Density / Sq Mi
$129,743
Median Household Income
$74,178
Median Earnings
$2,267
Median Rent
$710,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The condominium includes two assigned garage spaces and access to community fitness, recreation, and concierge amenities.
Where is this residential income property located?
The property is located at 2665 PROSPERITY AVENUE Unit 318 Fairfax, VA.
What is the asking price?
The asking price for this property is $459,950.
What are key features of this property?
This property features: 1,085‑square‑foot condominium with 2 bedrooms and 2 bathrooms; Two assigned garage parking spaces and a storage unit; Directly across from the Dunn Loring Metro station
