Corner Residential Income
For Sale
$500,000
485 HARBOR SIDE STREET Unit 414, Woodbridge, VA 22191
Corner residence with marina views, updated interiors, two garage spaces, and access to extensive community amenities.
Property Size1,928 SF
Price / SF$259.34
Days on Market49
Property Features for 485 HARBOR SIDE STREET Unit 414
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,217
Building Details
Building Size
1,928 SF
Year Built
2005
Listing Agency:
CENTURY 21 New Millennium
Listed By:
Sherry Zikria
(202) 595-4492
Source:
Kerishull
Added: Jul 16
Changed: Sep 2
Last Checked: Aug 31 at 9:27PM
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 CENTURY 21 New Millennium
Investment Insights
Based on property information with market context.
This corner residential income property at 485 Harbor Side Street, Unit 414, offers a two-bedroom, two-bath layout with 1,928 square feet of interior space. Dual exposures bring natural light into the living and dining areas, while hardwood flooring extends through the main living spaces. The kitchen includes new stainless steel appliances, and the dedicated laundry room has a new washer and dryer. Recent improvements also include replacement of outlets and switches, GFCI updates, whole-home surge protection, new carpeting in the primary suite, second bedroom, and den, plus dual walk-in closets in the primary bedroom.
The unit is one block from Belmont Bay Marina and has marina views, with seasonal views toward the Occoquan River. Two dedicated garage parking spaces and a secure storage unit are included. Community amenities include a pool, fitness center, tennis courts, water pavilion, and miles of walking paths. The Occoquan National Wildlife Refuge is located outside the community.
The unit is one block from Belmont Bay Marina and has marina views, with seasonal views toward the Occoquan River. Two dedicated garage parking spaces and a secure storage unit are included. Community amenities include a pool, fitness center, tennis courts, water pavilion, and miles of walking paths. The Occoquan National Wildlife Refuge is located outside the community.
Key Highlights
- 1,928 SF corner unit with dual exposures and abundant natural light
- Two‑bedroom, two‑bath layout with a den, hardwood floors, and new carpeting
- Marina views and seasonal Occoquan River views; one block from Belmont Bay Marina
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
$25,920
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
5.18%
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%
$518,400
$518.4K
Cap Rate 7%
$370,286
$370.3K
Cap Rate 9%
$288,000
$288.0K
Market Conditions
NOI Build-Up for 1,928 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
$48.6K $25.20/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$47.1K $24.44/SF
− OpEx
−$21.2K −$11.00/SF
NOI
$25.9K $13.44/SF
Area
Prince William County, VA
Vacancy
3.00%
Lease Rate
$25.20 /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%
$518,400
Cap Rate 7%
$370,286
Cap Rate 9%
$288,000
Alternative Uses
Best Use
Apartment 5plus
$370.3K
$324.0K – $432.0K
NOI $25,920 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$566.2K
$495.4K – $660.6K
NOI $39,635 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 22191, VA
74,189
Population
26,127
Households
2.8
Avg Household Size
34
Median Age
39%
College-Educated
87%
High-School Grad
15.4 sq mi
ZIP Area
4,817
Density / Sq Mi
$107,993
Median Household Income
$49,388
Median Earnings
$2,069
Median Rent
$432,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner residence with marina views, updated interiors, two garage spaces, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 485 HARBOR SIDE STREET Unit 414 Woodbridge, VA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,928 SF corner unit with dual exposures and abundant natural light; Two‑bedroom, two‑bath layout with a den, hardwood floors, and new carpeting; Marina views and seasonal Occoquan River views; one block from Belmont Bay Marina
