Residential Income Property with Rooftop
For Sale
$389,000
44691 WELLFLEET DR #202, Ashburn, VA 20147
ASHBURN, VA
Property Size810 SF
Price / SF$480.25
Days on Market9
Property Features for 44691 WELLFLEET DR #202
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Subdivision
ONE LOUDOUN
Elementary school district
LOUDOUN COUNTY PUBLIC SCHOOLS
Middle school district
LOUDOUN COUNTY PUBLIC SCHOOLS
High school district
LOUDOUN COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
private storage unit
rooftop terrace with fireplace and grill
outdoor pool
meeting room
basketball court
volleyball court
tennis court
dog park
trails
soccer fields
Building Details
Year built
2020
Listing Agency:
Leesburg
(703) 777-2900
Listed By:
Erica M Thompson
(703) 732-6968
Added: Aug 15
Changed: Aug 19
Last Checked: Aug 23 at 11:06AM
MLS# VALO2134046
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 810-square-foot, one-bedroom, one-bath condominium was built in 2020 and features an open living area with high ceilings and plank-engineered hardwood flooring. Anderson windows with custom shades bring natural light into the residence. The kitchen includes stainless steel appliances, streamlined cabinetry, substantial storage, and a large center island. The bedroom offers a walk-in closet, while the bathroom includes a soaking tub and shower, dual-sink vanity, and built-in cabinet storage.
The property includes a private storage unit and one assigned space in the covered garage. Shared amenities include a rooftop terrace with a fireplace and grill, along with access to One Loudoun facilities such as an outdoor pool, meeting room, basketball, volleyball, and tennis courts, a dog park, trails, and soccer fields. Restaurants, retail, entertainment, and services are across the street, with Route 28 and Route 7 nearby.
The property includes a private storage unit and one assigned space in the covered garage. Shared amenities include a rooftop terrace with a fireplace and grill, along with access to One Loudoun facilities such as an outdoor pool, meeting room, basketball, volleyball, and tennis courts, a dog park, trails, and soccer fields. Restaurants, retail, entertainment, and services are across the street, with Route 28 and Route 7 nearby.
Key Highlights
- 810 square feet with 1 bedroom and 1 bath
- Built in 2020
- Assigned parking space in covered garage plus private storage unit
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
$12,633
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
3.25%
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%
$252,660
$252.7K
Cap Rate 7%
$180,471
$180.5K
Cap Rate 9%
$140,367
$140.4K
Market Conditions
NOI Build-Up for 810 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
$24.6K $30.36/SF
− Vacancy
−$1.6K −$2.00/SF
EGI
$23.0K $28.36/SF
− OpEx
−$10.3K −$12.76/SF
NOI
$12.6K $15.60/SF
Area
Loudoun County, VA
Vacancy
6.60%
Lease Rate
$30.36 /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%
$252,660
Cap Rate 7%
$180,471
Cap Rate 9%
$140,367
Alternative Uses
Best Use
Apartment 5plus
$180.5K
$157.9K – $210.6K
NOI $12,633 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$253.8K
$222.1K – $296.2K
NOI $17,769 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Explore this area
Business Placement
Demographics for 20147, VA
66,394
Population
25,474
Households
2.6
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
19.8 sq mi
ZIP Area
3,353
Density / Sq Mi
$161,356
Median Household Income
$83,880
Median Earnings
$2,394
Median Rent
$679,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condo with covered-garage parking, private storage, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 44691 WELLFLEET DR #202 Ashburn, VA.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 810 square feet with 1 bedroom and 1 bath; Built in 2020; Assigned parking space in covered garage plus private storage unit
