Two-Bedroom Residential Income
For Sale
$709,000
3800 FAIRFAX DRIVE Unit 1105, Arlington, VA 22203
Condominium residence with private balcony, garage parking, and access to extensive community amenities.
Property Size1,440 SF
Price / SF$492.36
Days on Market86
Property Features for 3800 FAIRFAX DRIVE Unit 1105
General Information
Standard status
Active
Size
1,440 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
$5,475
Amenities
fitness center
outdoor pool
community room
secure building access
Building Details
Building Size
1,440 SF
Year Built
1974
Listing Agency:
Redfin Corporation
(703) 340-6169
Listed By:
Edward J Stone · License #0225204045
(703) 340-6169
Source:
Barnesrealestatecompany
Added: May 29
Changed: Aug 21
Last Checked: Aug 22 at 10:42AM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This condominium at Tower Villas offers approximately 1,440 square feet with two bedrooms, two bathrooms, and an open layout designed around generous room sizes and abundant natural light. An expansive private balcony provides city and sunset views, while parquet hardwood floors, oversized windows, storage, and garage parking add practical functionality. Building features include secure access, a fitness center, outdoor pool, and community room. Condo fees include all utilities and cable.
The property is positioned near the Virginia Square Metro and within reach of Ballston, Clarendon, restaurants, shopping, parks, and entertainment. Built in 1974, the residence combines a spacious interior with access to shared amenities and an established urban setting.
The property is positioned near the Virginia Square Metro and within reach of Ballston, Clarendon, restaurants, shopping, parks, and entertainment. Built in 1974, the residence combines a spacious interior with access to shared amenities and an established urban setting.
Key Highlights
- Approximately 1,440 square feet with 2 bedrooms and 2 bathrooms
- Expansive private balcony with city and sunset views
- Parquet hardwood flooring and oversized windows
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
$21,669
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
3.06%
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%
$433,380
$433.4K
Cap Rate 7%
$309,557
$309.6K
Cap Rate 9%
$240,767
$240.8K
Market Conditions
NOI Build-Up for 1,440 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
$41.5K $28.80/SF
− Vacancy
−$2.1K −$1.44/SF
EGI
$39.4K $27.36/SF
− OpEx
−$17.7K −$12.31/SF
NOI
$21.7K $15.05/SF
Area
Arlington, VA
Vacancy
5.00%
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%
$433,380
Cap Rate 7%
$309,557
Cap Rate 9%
$240,767
Alternative Uses
Best Use
Apartment 5plus
$309.6K
$270.9K – $361.2K
NOI $21,669 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$799.8K
$699.8K – $933.1K
NOI $55,987 @ 7.0% cap · market cap 7.90%
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
3,851
Businesses Nearby
Explore this area
Business Placement
Demographics for 22203, VA
25,437
Population
14,528
Households
1.8
Avg Household Size
33
Median Age
78%
College-Educated
95%
High-School Grad
1.6 sq mi
ZIP Area
15,898
Density / Sq Mi
$132,402
Median Household Income
$90,699
Median Earnings
$2,318
Median Rent
$809,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with private balcony, garage parking, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 3800 FAIRFAX DRIVE Unit 1105 Arlington, VA.
What is the asking price?
The asking price for this property is $709,000.
What are key features of this property?
This property features: Approximately 1,440 square feet with 2 bedrooms and 2 bathrooms; Expansive private balcony with city and sunset views; Parquet hardwood flooring and oversized windows
