Renovated Residential Income
For Sale
$375,000
Pending
46891 EATON TERRACE #200, Sterling, VA 20164
Second-floor condominium with updated systems, custom kitchen finishes, and a wooded creek setting.
Property Size1,082 SF
Days on Market27
Property Features for 46891 EATON TERRACE #200
General Information
Standard status
Pending
Size
1,082 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Building Details
Building Size
1,082 SF
Year Built
1993
Listing Agency:
Keller Williams Realty
Listed By:
Michael Corum
(703) 636-7300
Source:
Kdrealtygroup.kw
Added: Aug 15
Changed: Sep 5
Last Checked: Sep 10 at 5:25AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This second-floor, two-bedroom condominium at 46891 Eaton Terrace #200 features two bathrooms and a comprehensive interior renovation. The kitchen includes custom soft-close cabinetry, quartz countertops, and GE stainless appliances. LifeProof LVP flooring extends throughout the residence, while both bathrooms have been rebuilt with floor-to-ceiling porcelain tile. A stone fireplace wall with a gas insert anchors the living room. The property also includes a new HVAC system, water heater, and washer and dryer.
The home is located in Sterling, Virginia, within the Chatham Green community. There are two units on each level, and the condominium backs to wooded areas and a creek. Built in 1993, the residence combines refreshed interior finishes with recently replaced major systems.
The home is located in Sterling, Virginia, within the Chatham Green community. There are two units on each level, and the condominium backs to wooded areas and a creek. Built in 1993, the residence combines refreshed interior finishes with recently replaced major systems.
Key Highlights
- Two‑bedroom, two‑bathroom second‑floor condominium
- Custom kitchen with soft‑close cabinetry, quartz countertops, and GE stainless appliances
- New HVAC, water heater, and washer/dryer
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
$16,875
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
4.50%
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%
$337,500
$337.5K
Cap Rate 7%
$241,071
$241.1K
Cap Rate 9%
$187,500
$187.5K
Market Conditions
NOI Build-Up for 1,082 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
$32.8K $30.36/SF
− Vacancy
−$2.2K −$2.00/SF
EGI
$30.7K $28.36/SF
− OpEx
−$13.8K −$12.76/SF
NOI
$16.9K $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%
$337,500
Cap Rate 7%
$241,071
Cap Rate 9%
$187,500
Alternative Uses
Best Use
Apartment 5plus
$241.1K
$210.9K – $281.3K
NOI $16,875 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$339.1K
$296.7K – $395.6K
NOI $23,736 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with updated systems, custom kitchen finishes, and a wooded creek setting.
Where is this residential income property located?
The property is located at 46891 EATON TERRACE #200 Sterling, VA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom second‑floor condominium; Custom kitchen with soft‑close cabinetry, quartz countertops, and GE stainless appliances; New HVAC, water heater, and washer/dryer
