Residential Income Property with Updated
For Sale
$225,000
2917 WILLSTON PLACE Unit 101, Falls Church, VA 22044
The condo includes a reserved parking space, a dedicated storage unit, and guest parking permits.
Property Size578 SF
Price / SF$389.27
Days on Market57
Property Features for 2917 WILLSTON PLACE Unit 101
General Information
Standard status
Active
Size
578 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,965
Amenities
in-unit laundry
jogging paths
playground
dedicated storage unit
Building Details
Building Size
578 SF
Year Built
1952
Listing Agency:
KW Metro Center
Listed By:
Jacqueline Grace Redding · License #225240879
(703) 507-7190
Source:
Jackrealtygroup
Added: Sep 3
Changed: Oct 27
Last Checked: Oct 26 at 3:55PM
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 KW Metro Center
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 578-square-foot condo, built in 1952, has one bedroom and an open living and dining area. Hardwood flooring runs through the unit. The remodeled kitchen has Shaker-style cabinets, stainless steel appliances installed in 2023, and updated counters and backsplash. The bathroom features a frameless glass shower. In-unit laundry equipment was replaced in 2023, and the HVAC system was updated in 2019.
The community has landscaped green areas, mature trees, jogging paths, and a playground. Safeway, Giant, Target, Seven Corners, Mosaic District, Mark Center, and The Pentagon are among the nearby destinations. Route 50, Wilson Boulevard, Route 7, I-66, and I-495 provide access to regional routes; East Falls Church Metro station is less than two miles away.
The unit also comes with a reserved parking space, a separate storage unit, and permits for guest parking.
The community has landscaped green areas, mature trees, jogging paths, and a playground. Safeway, Giant, Target, Seven Corners, Mosaic District, Mark Center, and The Pentagon are among the nearby destinations. Route 50, Wilson Boulevard, Route 7, I-66, and I-495 provide access to regional routes; East Falls Church Metro station is less than two miles away.
The unit also comes with a reserved parking space, a separate storage unit, and permits for guest parking.
Key Highlights
- 578‑square‑foot condo with one bedroom
- Kitchen renovation includes Shaker‑style cabinetry and stainless steel appliances installed in 2023
- HVAC updated in 2019; washer and dryer installed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,652
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$173,040
$173.0K
Cap Rate 7%
$123,600
$123.6K
Cap Rate 9%
$96,133
$96.1K
Market Conditions
NOI Build-Up for 578 SF
Gross rent
$16.6K $28.80/SF
− Vacancy
−$916 −$1.58/SF
EGI
$15.7K $27.22/SF
− OpEx
−$7.1K −$12.25/SF
NOI
$8.7K $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%
$173,040
Cap Rate 7%
$123,600
Cap Rate 9%
$96,133
Alternative Uses
Best Use
Apartment 5plus
$123.6K
$108.2K – $144.2K
NOI $8,652 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.42M
$2.12M – $2.83M
NOI $169,598 @ 7.0% cap · market cap 75.38%
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
Location Intelligence
Trade Area within ½ mile
1,666
Businesses Nearby
Explore this area
Business Placement
Demographics for 22044, VA
13,847
Population
5,495
Households
2.5
Avg Household Size
37
Median Age
50%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
6,594
Density / Sq Mi
$100,129
Median Household Income
$50,057
Median Earnings
$1,814
Median Rent
$711,400
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The condo includes a reserved parking space, a dedicated storage unit, and guest parking permits.
Where is this residential income property located?
The property is located at 2917 WILLSTON PLACE Unit 101 Falls Church, VA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 578‑square‑foot condo with one bedroom; Kitchen renovation includes Shaker‑style cabinetry and stainless steel appliances installed in 2023; HVAC updated in 2019; washer and dryer installed in 2023
