Residential Income Property with Garage
For Sale
$350,000
3109 PATRICK HENRY DRIVE Unit 627, Falls Church, VA 22044
The 1,064-square-foot condo has two bedrooms, two baths, and an in-unit washer and dryer.
Property Size1,064 SF
Price / SF$328.95
Days on Market70
Property Features for 3109 PATRICK HENRY DRIVE Unit 627
General Information
Standard status
Active
Size
1,064 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,753
Amenities
community pool
social room
grilling area
in-unit laundry
covered patio
Building Details
Building Size
1,064 SF
Year Built
1965
Listing Agency:
Jack Realty Group
Listed By:
John Pruski
(202) 213-4744
Source:
Jackrealtygroup
Added: Aug 20
Changed: Oct 26
Last Checked: Oct 26 at 10:28AM
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 2-bedroom, 2-bath condo offers 1,064 square feet with an open living and dining area, a kitchen with granite countertops, and a covered private patio. Both bedrooms have walk-in closets; the primary bedroom also has an en-suite bath and two walk-in closets. The unit includes a full-size washer and dryer, and its HVAC system was replaced in 2024. Built in 1965, the property conveys with one assigned secure garage parking space and visitor parking passes.
Community amenities include a pool, social room, and grilling area. The community permits one pet up to 22 lbs. Electricity, water, sewer, and trash are included in the condo fee. Routes 7, 50, and I-66 are accessible from the property, with an East Falls Church Metro station a short trip away and a Metro bus stop outside the community gates.
Community amenities include a pool, social room, and grilling area. The community permits one pet up to 22 lbs. Electricity, water, sewer, and trash are included in the condo fee. Routes 7, 50, and I-66 are accessible from the property, with an East Falls Church Metro station a short trip away and a Metro bus stop outside the community gates.
Key Highlights
- 1,064‑square‑foot condo with 2 bedrooms and 2 baths
- One assigned secure garage parking space, plus visitor parking passes
- In‑unit HVAC replaced in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,927
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,540
$318.5K
Cap Rate 7%
$227,529
$227.5K
Cap Rate 9%
$176,967
$177.0K
Market Conditions
NOI Build-Up for 1,064 SF
Gross rent
$30.6K $28.80/SF
− Vacancy
−$1.7K −$1.58/SF
EGI
$29.0K $27.22/SF
− OpEx
−$13.0K −$12.25/SF
NOI
$15.9K $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%
$318,540
Cap Rate 7%
$227,529
Cap Rate 9%
$176,967
Alternative Uses
Best Use
Apartment 5plus
$227.5K
$199.1K – $265.5K
NOI $15,927 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.46M
$3.90M – $5.20M
NOI $312,202 @ 7.0% cap · market cap 89.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,229
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 - The 1,064-square-foot condo has two bedrooms, two baths, and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 3109 PATRICK HENRY DRIVE Unit 627 Falls Church, VA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,064‑square‑foot condo with 2 bedrooms and 2 baths; One assigned secure garage parking space, plus visitor parking passes; In‑unit HVAC replaced in 2024
