Two-Bedroom Condo with
For Sale
$345,000
3117 PATRICK HENRY DRIVE Unit 430, Falls Church, VA 22044
Recent interior updates include a renovated kitchen, new flooring, fresh paint, and updated light fixtures.
Property Size1,116 SF
Price / SF$309.14
Days on Market168
Property Features for 3117 PATRICK HENRY DRIVE Unit 430
General Information
Standard status
Active
Size
1,116 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,520
Amenities
pool
clubhouse
in-unit washer and dryer
private covered balcony
Building Details
Building Size
1,116 SF
Year Built
1965
Listing Agency:
eXp Realty
Listed By:
Canopy Property Group · License #670867
(202) 410-0672
Source:
Canopy-re
Added: May 14
Changed: Oct 27
Last Checked: Oct 26 at 11:29AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This 1,116-square-foot condo, built in 1965, has two bedrooms and two bathrooms. Recent improvements include new flooring, a renovated kitchen, fresh paint, and new light fixtures. The open living and dining area connects to a private covered balcony, and the unit includes an in-home washer and dryer. The primary bedroom has an en-suite bathroom, and windows bring natural light into the rooms.
Community amenities include a pool, clubhouse, landscaped grounds, and parking. Route 50, I-395, and I-66 provide access toward Washington, DC, Arlington, Tysons, and Alexandria. Nearby shopping and dining destinations include Seven Corners Center, Crossroads Center, Eden Center, and The Corner at Seven Corners. The condo fee includes all utilities.
Community amenities include a pool, clubhouse, landscaped grounds, and parking. Route 50, I-395, and I-66 provide access toward Washington, DC, Arlington, Tysons, and Alexandria. Nearby shopping and dining destinations include Seven Corners Center, Crossroads Center, Eden Center, and The Corner at Seven Corners. The condo fee includes all utilities.
Key Highlights
- 1,116‑square‑foot condo with two bedrooms and two bathrooms
- Private covered balcony and in‑unit washer and dryer
- Kitchen renovation, new flooring, fresh paint, and new light fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,705
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,100
$334.1K
Cap Rate 7%
$238,643
$238.6K
Cap Rate 9%
$185,611
$185.6K
Market Conditions
NOI Build-Up for 1,116 SF
Gross rent
$32.1K $28.80/SF
− Vacancy
−$1.8K −$1.58/SF
EGI
$30.4K $27.22/SF
− OpEx
−$13.7K −$12.25/SF
NOI
$16.7K $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%
$334,100
Cap Rate 7%
$238,643
Cap Rate 9%
$185,611
Alternative Uses
Best Use
Apartment 5plus
$238.6K
$208.8K – $278.4K
NOI $16,705 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.68M
$4.09M – $5.46M
NOI $327,460 @ 7.0% cap · market cap 94.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,229
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Recent interior updates include a renovated kitchen, new flooring, fresh paint, and updated light fixtures.
Where is this residential income property located?
The property is located at 3117 PATRICK HENRY DRIVE Unit 430 Falls Church, VA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 1,116‑square‑foot condo with two bedrooms and two bathrooms; Private covered balcony and in‑unit washer and dryer; Kitchen renovation, new flooring, fresh paint, and new light fixtures
