Two-Bedroom Residential Income
For Sale
$563,400
3800 N FAIRFAX DRIVE Unit 1709, Arlington, VA 22203
Condominium residence with a private balcony, expansive views, and building amenities covered through the monthly fee.
Property Size1,380 SF
Price / SF$408.26
Days on Market63
Property Features for 3800 N FAIRFAX DRIVE Unit 1709
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,966
Amenities
private balcony
Building Details
Building Size
1,380 SF
Year Built
1974
Listing Agency:
A Friend In Real Estate, LLC
(561) 223-0101
Listed By:
David G. Rathgeber · License #0225275118
(561) 223-0101
Source:
Kerishull
Added: Jun 30
Changed: Aug 30
Last Checked: Aug 30 at 3:25AM
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 A Friend In Real Estate, LLC
Investment Insights
Based on property information with market context.
This 1,380-square-foot, two-bedroom condominium residence was built in 1974 and includes a private balcony with expansive views. The monthly fee covers electric, gas, internet, and amenities, providing a consolidated ownership arrangement for the residence.
The property is one block from the Virginia Square Metro Station and is surrounded by restaurants, shopping, parks, grocery stores, and entertainment in Arlington. Its location places rail access and a range of everyday services within close reach.
The property is one block from the Virginia Square Metro Station and is surrounded by restaurants, shopping, parks, grocery stores, and entertainment in Arlington. Its location places rail access and a range of everyday services within close reach.
Key Highlights
- 1,380‑square‑foot two‑bedroom condominium residence
- Private balcony with expansive views
- Monthly fee includes electric, gas, internet, and amenities
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
$20,766
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
3.69%
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%
$415,320
$415.3K
Cap Rate 7%
$296,657
$296.7K
Cap Rate 9%
$230,733
$230.7K
Market Conditions
NOI Build-Up for 1,380 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
$39.7K $28.80/SF
− Vacancy
−$2.0K −$1.44/SF
EGI
$37.8K $27.36/SF
− OpEx
−$17.0K −$12.31/SF
NOI
$20.8K $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%
$415,320
Cap Rate 7%
$296,657
Cap Rate 9%
$230,733
Alternative Uses
Best Use
Apartment 5plus
$296.7K
$259.6K – $346.1K
NOI $20,766 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$766.5K
$670.7K – $894.2K
NOI $53,654 @ 7.0% cap · market cap 9.52%
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 a private balcony, expansive views, and building amenities covered through the monthly fee.
Where is this residential income property located?
The property is located at 3800 N FAIRFAX DRIVE Unit 1709 Arlington, VA.
What is the asking price?
The asking price for this property is $563,400.
What are key features of this property?
This property features: 1,380‑square‑foot two‑bedroom condominium residence; Private balcony with expansive views; Monthly fee includes electric, gas, internet, and amenities
