Ground-Floor Residential Income
For Sale
$309,900
2839 KALMIA LEE COURT Unit 101, Falls Church, VA 22042
The end-unit condo includes a private patio and a renovated bathroom.
Property Size881 SF
Price / SF$351.76
Days on Market29
Property Features for 2839 KALMIA LEE COURT Unit 101
General Information
Standard status
Active
Size
881 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,139
Building Details
Building Size
881 SF
Year Built
1964
Listing Agency:
Jack Realty Group
Listed By:
John Pruski
(202) 213-4744
Source:
Jackrealtygroup
Added: Sep 30
Changed: Oct 26
Last Checked: Oct 26 at 10:32AM
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 Jack Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 881-square-foot, ground-floor condo is configured as an end unit with two bedrooms and one bathroom. Interior updates include new flooring in the living and dining areas, a renovated bathroom with modern tile and updated light fixtures, and newer kitchen cabinetry. The property was built in 1964 and has a private patio.
Key Highlights
- 881 square feet with two bedrooms and one bathroom
- Ground‑floor end‑unit condo with a private patio
- Renovated bathroom with modern tile and updated light fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,188
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,760
$263.8K
Cap Rate 7%
$188,400
$188.4K
Cap Rate 9%
$146,533
$146.5K
Market Conditions
NOI Build-Up for 881 SF
Gross rent
$25.4K $28.80/SF
− Vacancy
−$1.4K −$1.58/SF
EGI
$24.0K $27.22/SF
− OpEx
−$10.8K −$12.25/SF
NOI
$13.2K $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%
$263,760
Cap Rate 7%
$188,400
Cap Rate 9%
$146,533
Alternative Uses
Best Use
Apartment 5plus
$188.4K
$164.9K – $219.8K
NOI $13,188 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.69M
$3.23M – $4.31M
NOI $258,505 @ 7.0% cap · market cap 83.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 22042, VA
34,638
Population
12,598
Households
2.7
Avg Household Size
37
Median Age
55%
College-Educated
86%
High-School Grad
6.4 sq mi
ZIP Area
5,412
Density / Sq Mi
$135,578
Median Household Income
$60,264
Median Earnings
$2,178
Median Rent
$666,700
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The end-unit condo includes a private patio and a renovated bathroom.
Where is this residential income property located?
The property is located at 2839 KALMIA LEE COURT Unit 101 Falls Church, VA.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: 881 square feet with two bedrooms and one bathroom; Ground‑floor end‑unit condo with a private patio; Renovated bathroom with modern tile and updated light fixtures
