Corner Residential Income
For Sale
$480,000
Pending
3709 S GEORGE MASON DRIVE Unit 1305 E, Falls Church, VA 22041
Updated corner residence with a private balcony, monument views, and a refreshed kitchen and bathrooms.
Property Size2,079 SF
Days on Market66
Property Features for 3709 S GEORGE MASON DRIVE Unit 1305 E
General Information
Standard status
Pending
Size
2,079 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$5,684
Building Details
Building Size
2,079 SF
Year Built
1980
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Carmen Perry · License #0225037170
(703) 447-2481
Source:
Kerishull
Added: Jul 2
Changed: Sep 2
Last Checked: Aug 31 at 9:27PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This corner residential income property at 3709 S George Mason Drive includes 2,079 square feet with three bedrooms, two full bathrooms, and one half bath. The residence has a private balcony with open monument views, along with extensive closet space and a layout identified as the largest corner residence in the building. The property was built in 1980.
Recent improvements include new carpet, a Whirlpool refrigerator, microwave, water heater, refreshed kitchen cabinetry, and updates to the primary and half bathrooms. The home was freshly painted in 2026, and the primary bedroom windows have been replaced.
Recent improvements include new carpet, a Whirlpool refrigerator, microwave, water heater, refreshed kitchen cabinetry, and updates to the primary and half bathrooms. The home was freshly painted in 2026, and the primary bedroom windows have been replaced.
Key Highlights
- 2,079‑square‑foot corner residence with three bedrooms, two full bathrooms, and one half bath
- Private balcony with open monument views
- Fresh interior paint completed in 2026
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
$31,120
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
6.48%
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%
$622,400
$622.4K
Cap Rate 7%
$444,571
$444.6K
Cap Rate 9%
$345,778
$345.8K
Market Conditions
NOI Build-Up for 2,079 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
$59.9K $28.80/SF
− Vacancy
−$3.3K −$1.58/SF
EGI
$56.6K $27.22/SF
− OpEx
−$25.5K −$12.25/SF
NOI
$31.1K $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%
$622,400
Cap Rate 7%
$444,571
Cap Rate 9%
$345,778
Alternative Uses
Best Use
Apartment 5plus
$444.6K
$389.0K – $518.7K
NOI $31,120 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.71M
$7.63M – $10.17M
NOI $610,025 @ 7.0% cap · market cap 127.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,873
Businesses Nearby
Explore this area
Business Placement
Demographics for 22041, VA
28,039
Population
11,567
Households
2.4
Avg Household Size
36
Median Age
47%
College-Educated
82%
High-School Grad
2.8 sq mi
ZIP Area
10,014
Density / Sq Mi
$91,075
Median Household Income
$46,350
Median Earnings
$1,913
Median Rent
$432,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated corner residence with a private balcony, monument views, and a refreshed kitchen and bathrooms.
Where is this residential income property located?
The property is located at 3709 S GEORGE MASON DRIVE Unit 1305 E Falls Church, VA.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,079‑square‑foot corner residence with three bedrooms, two full bathrooms, and one half bath; Private balcony with open monument views; Fresh interior paint completed in 2026
