Two-Bedroom Residential Income
For Sale
$229,900
2908 KINGS CHAPEL ROAD Unit 03/10, Falls Church, VA 22042
The condo association fee covers electric, gas, and water service.
Property Size929 SF
Price / SF$247.47
Days on Market142
Property Features for 2908 KINGS CHAPEL ROAD Unit 03/10
General Information
Standard status
Active
Size
929 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,650
Amenities
swimming pool
basketball courts
dedicated storage space
private balcony
Building Details
Building Size
929 SF
Year Built
1966
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Jun 9
Changed: Oct 27
Last Checked: Oct 26 at 3:37PM
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 929-square-foot condominium, built in 1966, has two bedrooms and one bathroom. Interior improvements include a kitchen with granite counters, shaker cabinetry, stainless steel appliances, ceramic tile, a dishwasher, and a disposal. The living and dining areas combine maple laminate flooring with carpeting, while updated windows and a sliding glass door bring in natural light. A private balcony and additional storage add to the unit’s features.
Community amenities include a swimming pool, basketball courts, landscaped grounds, and dedicated storage. The association fee covers electric, gas, water, and lawn maintenance. The property is less than a mile from Metro, with I-495, Route 50, and I-66 among the nearby commuter routes. Grocery stores, restaurants, and entertainment are also in the surrounding area.
Community amenities include a swimming pool, basketball courts, landscaped grounds, and dedicated storage. The association fee covers electric, gas, water, and lawn maintenance. The property is less than a mile from Metro, with I-495, Route 50, and I-66 among the nearby commuter routes. Grocery stores, restaurants, and entertainment are also in the surrounding area.
Key Highlights
- 929‑square‑foot condominium with two bedrooms and one bathroom
- Built in 1966
- Association fee includes electric, gas, water, and lawn maintenance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,906
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,120
$278.1K
Cap Rate 7%
$198,657
$198.7K
Cap Rate 9%
$154,511
$154.5K
Market Conditions
NOI Build-Up for 929 SF
Gross rent
$26.8K $28.80/SF
− Vacancy
−$1.5K −$1.58/SF
EGI
$25.3K $27.22/SF
− OpEx
−$11.4K −$12.25/SF
NOI
$13.9K $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 Rate 5%
$278,120
Cap Rate 7%
$198,657
Cap Rate 9%
$154,511
Alternative Uses
Best Use
Apartment 5plus
$198.7K
$173.8K – $231.8K
NOI $13,906 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.89M
$3.41M – $4.54M
NOI $272,590 @ 7.0% cap · market cap 118.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,296
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 condo association fee covers electric, gas, and water service.
Where is this residential income property located?
The property is located at 2908 KINGS CHAPEL ROAD Unit 03/10 Falls Church, VA.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 929‑square‑foot condominium with two bedrooms and one bathroom; Built in 1966; Association fee includes electric, gas, water, and lawn maintenance
