Residential Income Property Near
For Sale
$749,900
2960 VADEN DRIVE Unit 2-103, Fairfax, VA 22031
Upper-level condominium in a 55+ community with garage parking, storage, and extensive resident amenities.
Property Size1,546 SF
Price / SF$485.06
Days on Market13
Property Features for 2960 VADEN DRIVE Unit 2-103
General Information
Standard status
Active
Size
1,546 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,964
Amenities
exercise room
indoor heated pool
clubroom
outdoor grill area
garden committee maintained flower areas
Building Details
Building Size
1,546 SF
Year Built
2020
Listing Agency:
Samson Properties
(703) 899-8468
Listed By:
Carole R. Stadfield · License #0225113607
(703) 899-8468
Source:
Kerishull
Added: Aug 20
Changed: Aug 31
Last Checked: Aug 30 at 11:37PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This 1,546-square-foot condominium was built in 2020 and is situated above ground level within a 55+ community. The residence includes two garage spaces on level G1 near the elevator, along with a secure storage area. Community facilities include an exercise room, indoor heated pool, clubroom, grills, outdoor seating, and landscaped courtyard areas.
Vienna-Fairfax Metro station is located across the street, providing a direct transit connection from the community. Residents also have access to organized social activities and clubs, including card games, theater outings, golf outings, and community gatherings.
Vienna-Fairfax Metro station is located across the street, providing a direct transit connection from the community. Residents also have access to organized social activities and clubs, including card games, theater outings, golf outings, and community gatherings.
Key Highlights
- 1,546‑square‑foot condominium built in 2020
- 55+ community across the street from Vienna‑Fairfax Metro station
- Two garage spaces on level G1 near the elevator
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,142
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$462,840
$462.8K
Cap Rate 7%
$330,600
$330.6K
Cap Rate 9%
$257,133
$257.1K
Market Conditions
NOI Build-Up for 1,546 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.5K $28.80/SF
− Vacancy
−$2.4K −$1.58/SF
EGI
$42.1K $27.22/SF
− OpEx
−$18.9K −$12.25/SF
NOI
$23.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$462,840
Cap Rate 7%
$330,600
Cap Rate 9%
$257,133
Alternative Uses
Best Use
Apartment 5plus
$330.6K
$289.3K – $385.7K
NOI $23,142 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.48M
$5.67M – $7.56M
NOI $453,631 @ 7.0% cap · market cap 60.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
243
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level condominium in a 55+ community with garage parking, storage, and extensive resident amenities.
Where is this residential income property located?
The property is located at 2960 VADEN DRIVE Unit 2-103 Fairfax, VA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 1,546‑square‑foot condominium built in 2020; 55+ community across the street from Vienna‑Fairfax Metro station; Two garage spaces on level G1 near the elevator
