Two-Level Residential Income
For Sale
$409,900
46862 CLARION TERRACE #303, Sterling, VA 20164
Light-filled condominium with wooded views, vaulted ceilings, private patio, and an open kitchen-to-dining layout.
Property Size1,257 SF
Days on Market75
Property Features for 46862 CLARION TERRACE #303
General Information
Standard status
Active
Size
1,257 SF
Property subtype
Apartment
Building Details
Building Size
1,257 SF
Year Built
1994
Listing Agency:
TTR Sothebys International Realty
(703) 319-3344
Listed By:
Mona Banes
(703) 319-3344
Source:
Kdrealtygroup.kw
Added: Jun 18
Changed: Aug 30
Last Checked: Aug 30 at 1:21PM
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 TTR Sothebys International Realty
Investment Insights
Based on property information with market context.
This two-level condominium residence offers 1,257 square feet with a layout that includes two bedrooms and two full baths. The main level combines hardwood flooring, detailed moldings, wainscoting, and an open kitchen with stainless steel appliances and white cabinetry. The kitchen connects directly with the dining area and private patio. Upstairs, the primary suite includes a Jacuzzi tub and shower combination plus a dual-sink vanity, while the second bedroom has its own full bath with a tub.
Expansive windows and vaulted ceilings bring natural light through the home, while wooded views and mature trees contribute to a private setting. The property is located in Chatham Green at 46862 Clarion Terrace #303 in Sterling, Virginia. Built in 1994, the residence combines a two-story configuration with defined bedroom and bath separation.
Expansive windows and vaulted ceilings bring natural light through the home, while wooded views and mature trees contribute to a private setting. The property is located in Chatham Green at 46862 Clarion Terrace #303 in Sterling, Virginia. Built in 1994, the residence combines a two-story configuration with defined bedroom and bath separation.
Key Highlights
- 1,257‑square‑foot two‑level condominium residence
- Two bedrooms and two full baths
- Vaulted ceilings and expansive windows provide abundant natural light
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
$19,604
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
4.78%
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%
$392,080
$392.1K
Cap Rate 7%
$280,057
$280.1K
Cap Rate 9%
$217,822
$217.8K
Market Conditions
NOI Build-Up for 1,257 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
$38.2K $30.36/SF
− Vacancy
−$2.5K −$2.00/SF
EGI
$35.6K $28.36/SF
− OpEx
−$16.0K −$12.76/SF
NOI
$19.6K $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%
$392,080
Cap Rate 7%
$280,057
Cap Rate 9%
$217,822
Alternative Uses
Best Use
Apartment 5plus
$280.1K
$245.1K – $326.7K
NOI $19,604 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$393.9K
$344.7K – $459.6K
NOI $27,575 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
614
Businesses Nearby
Explore this area
Business Placement
Demographics for 20164, VA
40,888
Population
13,077
Households
3.1
Avg Household Size
36
Median Age
39%
College-Educated
81%
High-School Grad
7.6 sq mi
ZIP Area
5,380
Density / Sq Mi
$132,067
Median Household Income
$47,315
Median Earnings
$2,031
Median Rent
$526,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Light-filled condominium with wooded views, vaulted ceilings, private patio, and an open kitchen-to-dining layout.
Where is this residential income property located?
The property is located at 46862 CLARION TERRACE #303 Sterling, VA.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: 1,257‑square‑foot two‑level condominium residence; Two bedrooms and two full baths; Vaulted ceilings and expansive windows provide abundant natural light
