Two-Bedroom Condo with
For Sale
$284,950
3101 S MANCHESTER STREET Unit 318, Falls Church, VA 22044
Updated interior finishes and building amenities complement a private outdoor space and convenient access to regional destinations.
Property Size1,049 SF
Price / SF$271.64
Days on Market65
Property Features for 3101 S MANCHESTER STREET Unit 318
General Information
Standard status
Active
Size
1,049 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,874
Amenities
swimming pools
tennis courts
children's playground
exercise room
party room
laundry room
private balcony
Building Details
Building Size
1,049 SF
Year Built
1972
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Aug 25
Changed: Oct 27
Last Checked: Oct 26 at 2:35PM
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 1,049-square-foot condominium offers two bedrooms, two full bathrooms, and a private balcony. Interior updates include hardwood flooring in the living areas, luxury vinyl plank in the kitchen and bathrooms, tile at the entry and hallway, granite counters, stainless steel appliances, updated bathroom vanities, and fresh paint. The building dates to 1972.
Residents have access to two swimming pools, tennis courts, a playground, an exercise room, a party room, and laundry facilities on every floor. The condo fee covers utilities. The property provides access to Washington, DC, the Pentagon, East Falls Church Metro Station, Tysons, and Arlington, with restaurants and shopping nearby.
Residents have access to two swimming pools, tennis courts, a playground, an exercise room, a party room, and laundry facilities on every floor. The condo fee covers utilities. The property provides access to Washington, DC, the Pentagon, East Falls Church Metro Station, Tysons, and Arlington, with restaurants and shopping nearby.
Key Highlights
- Two bedrooms and two full bathrooms in 1,049 square feet
- Private balcony
- Updated kitchen with granite countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,702
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,040
$314.0K
Cap Rate 7%
$224,314
$224.3K
Cap Rate 9%
$174,467
$174.5K
Market Conditions
NOI Build-Up for 1,049 SF
Gross rent
$30.2K $28.80/SF
− Vacancy
−$1.7K −$1.58/SF
EGI
$28.5K $27.22/SF
− OpEx
−$12.8K −$12.25/SF
NOI
$15.7K $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%
$314,040
Cap Rate 7%
$224,314
Cap Rate 9%
$174,467
Alternative Uses
Best Use
Apartment 5plus
$224.3K
$196.3K – $261.7K
NOI $15,702 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.40M
$3.85M – $5.13M
NOI $307,800 @ 7.0% cap · market cap 108.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated interior finishes and building amenities complement a private outdoor space and convenient access to regional destinations.
Where is this residential income property located?
The property is located at 3101 S MANCHESTER STREET Unit 318 Falls Church, VA.
What is the asking price?
The asking price for this property is $284,950.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms in 1,049 square feet; Private balcony; Updated kitchen with granite countertops and stainless steel appliances
