Residential Condo with Hardwood
For Sale
$250,000
2844 ANNANDALE ROAD Unit 316, Falls Church, VA 22042
Granite counters and an open living area complement flooring throughout the unit.
Property Size683 SF
Price / SF$366.03
Days on Market77
Property Features for 2844 ANNANDALE ROAD Unit 316
General Information
Standard status
Active
Size
683 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,610
Amenities
pool
recreation facilities
playground
common grounds
Building Details
Building Size
683 SF
Year Built
1966
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Aug 14
Changed: Oct 27
Last Checked: Oct 26 at 3:53PM
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
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Investment Insights
Based on property information with market context.
This 683-square-foot condominium in the James Lee community dates to 1966. Hardwood flooring runs throughout, while the kitchen has granite counters and connects to an open living area. The condo fee covers all utilities.
Residents have access to a pool, recreation facilities, a playground, and shared grounds. The James Lee Community Center is across the complex. Metro bus service is available outside the complex, with Route 50, I-95, and I-495 nearby.
Residents have access to a pool, recreation facilities, a playground, and shared grounds. The James Lee Community Center is across the complex. Metro bus service is available outside the complex, with Route 50, I-95, and I-495 nearby.
Key Highlights
- 683‑square‑foot condominium built in 1966
- Hardwood flooring throughout and granite kitchen counters
- Condo fee includes all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,224
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,480
$204.5K
Cap Rate 7%
$146,057
$146.1K
Cap Rate 9%
$113,600
$113.6K
Market Conditions
NOI Build-Up for 683 SF
Gross rent
$19.7K $28.80/SF
− Vacancy
−$1.1K −$1.58/SF
EGI
$18.6K $27.22/SF
− OpEx
−$8.4K −$12.25/SF
NOI
$10.2K $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%
$204,480
Cap Rate 7%
$146,057
Cap Rate 9%
$113,600
Alternative Uses
Best Use
Apartment 5plus
$146.1K
$127.8K – $170.4K
NOI $10,224 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.86M
$2.51M – $3.34M
NOI $200,408 @ 7.0% cap · market cap 80.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,198
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Granite counters and an open living area complement flooring throughout the unit.
Where is this residential income property located?
The property is located at 2844 ANNANDALE ROAD Unit 316 Falls Church, VA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 683‑square‑foot condominium built in 1966; Hardwood flooring throughout and granite kitchen counters; Condo fee includes all utilities
