First-Floor Condo with
For Sale
$254,000
3901 PENDERVIEW DRIVE Unit 1502, Fairfax, VA 22033
A refreshed, single-level residence includes a private patio and access to community recreation amenities.
Property Size564 SF
Price / SF$450.35
Days on Market40
Property Features for 3901 PENDERVIEW DRIVE Unit 1502
General Information
Standard status
Active
Size
564 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,732
Amenities
private patio
pool
fitness center
tot lot
Building Details
Building Size
564 SF
Year Built
1988
Listing Agency:
Redfin Corporation
Listed By:
Matthew David Ferris · License #0225239620
(703) 615-8954
Source:
Horsefarmsandcountryhomes
Added: Sep 18
Changed: Oct 26
Last Checked: Oct 26 at 3:37PM
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
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Investment Insights
Based on property information with market context.
This 564-square-foot, first-floor condo was built in 1988 and has been updated. Its single-level layout connects the main living area to a private patio. Replacement windows are scheduled for installation.
The home is within the Penderview Golf Community, which offers two pools, two fitness centers, a tot lot, and discounted green fees. I-66 provides regional highway access, with Wegmans, shopping, and dining nearby.
The home is within the Penderview Golf Community, which offers two pools, two fitness centers, a tot lot, and discounted green fees. I-66 provides regional highway access, with Wegmans, shopping, and dining nearby.
Key Highlights
- 564‑square‑foot first‑floor condo with single‑level layout
- Private patio accessed from the main living area
- Community features two pools, two fitness centers, and a tot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,442
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$168,840
$168.8K
Cap Rate 7%
$120,600
$120.6K
Cap Rate 9%
$93,800
$93.8K
Market Conditions
NOI Build-Up for 564 SF
Gross rent
$16.2K $28.80/SF
− Vacancy
−$893 −$1.58/SF
EGI
$15.3K $27.22/SF
− OpEx
−$6.9K −$12.25/SF
NOI
$8.4K $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%
$168,840
Cap Rate 7%
$120,600
Cap Rate 9%
$93,800
Alternative Uses
Best Use
Apartment 5plus
$120.6K
$105.5K – $140.7K
NOI $8,442 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.36M
$2.07M – $2.76M
NOI $165,490 @ 7.0% cap · market cap 65.15%
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
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 22033, VA
40,692
Population
16,057
Households
2.5
Avg Household Size
37
Median Age
67%
College-Educated
95%
High-School Grad
7.8 sq mi
ZIP Area
5,217
Density / Sq Mi
$134,532
Median Household Income
$75,231
Median Earnings
$2,253
Median Rent
$621,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A refreshed, single-level residence includes a private patio and access to community recreation amenities.
Where is this residential income property located?
The property is located at 3901 PENDERVIEW DRIVE Unit 1502 Fairfax, VA.
What is the asking price?
The asking price for this property is $254,000.
What are key features of this property?
This property features: 564‑square‑foot first‑floor condo with single‑level layout; Private patio accessed from the main living area; Community features two pools, two fitness centers, and a tot lot
