Waterfront Residential Income
For Sale
$497,400
500 BELMONT BAY DRIVE Unit 305, Woodbridge, VA 22191
Updated condominium residence with water views, two bedrooms, two bathrooms, and dedicated parking and storage.
Property Size1,344 SF
Price / SF$370.09
Days on Market169
Property Features for 500 BELMONT BAY DRIVE Unit 305
General Information
Standard status
Active
Size
1,344 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,094
Amenities
gym
entertainment rooms
gazebo
walking trails
Building Details
Building Size
1,344 SF
Year Built
2004
Listing Agency:
KW Metro Center
Listed By:
William E Close · License #636621
(301) 404-8052
Source:
Kerishull
Added: May 1
Changed: Oct 7
Last Checked: Oct 15 at 6:46AM
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 KW Metro Center
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Investment Insights
Based on property information with market context.
This 1,344-square-foot condominium residence is configured with two bedrooms and two bathrooms. Interior improvements include Italian Carrera Marble flooring in the kitchen, a herringbone backsplash, Quartzite countertops, and Bosch 8000 series gas cooking and dishwasher appliances. Wide-plank pecan hardwood flooring extends through the living room, which also features a custom fireplace finished with South American natural stone and views toward the water. The primary suite includes an upgraded bathroom, while LED fixtures provide lighting throughout the unit.
The property includes two parking spaces with bike racks and a private large storage space below. Building amenities include a gym, entertainment rooms, an outdoor gazebo, and walking trails. Public transportation and major highways are also noted nearby. The condominium was built in 2004 and is located at 500 Belmont Bay Drive, Unit 305, in Woodbridge, Virginia.
The property includes two parking spaces with bike racks and a private large storage space below. Building amenities include a gym, entertainment rooms, an outdoor gazebo, and walking trails. Public transportation and major highways are also noted nearby. The condominium was built in 2004 and is located at 500 Belmont Bay Drive, Unit 305, in Woodbridge, Virginia.
Key Highlights
- 1,344‑square‑foot waterfront condominium residence
- Two bedrooms and two bathrooms
- Kitchen with Carrera Marble floors, herringbone backsplash, Quartzite counters, and Bosch 8000 appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,069
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,380
$361.4K
Cap Rate 7%
$258,129
$258.1K
Cap Rate 9%
$200,767
$200.8K
Market Conditions
NOI Build-Up for 1,344 SF
Gross rent
$33.9K $25.20/SF
− Vacancy
−$1.0K −$0.76/SF
EGI
$32.9K $24.44/SF
− OpEx
−$14.8K −$11.00/SF
NOI
$18.1K $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 Rate 5%
$361,380
Cap Rate 7%
$258,129
Cap Rate 9%
$200,767
Alternative Uses
Best Use
Apartment 5plus
$258.1K
$225.9K – $301.2K
NOI $18,069 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$394.7K
$345.4K – $460.5K
NOI $27,630 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with water views, two bedrooms, two bathrooms, and dedicated parking and storage.
Where is this residential income property located?
The property is located at 500 BELMONT BAY DRIVE Unit 305 Woodbridge, VA.
What is the asking price?
The asking price for this property is $497,400.
What are key features of this property?
This property features: 1,344‑square‑foot waterfront condominium residence; Two bedrooms and two bathrooms; Kitchen with Carrera Marble floors, herringbone backsplash, Quartzite counters, and Bosch 8000 appliances
