Ground-Floor Residential Income
New
For Sale
$315,000
507 SUNSET VIEW TERRACE SE #104, Leesburg, VA 20175
A gated-community condo pairs courtyard outlooks with built-in storage and an updated water heater that also heats the unit.
Property Size804 SF
Days on Market6
Property Features for 507 SUNSET VIEW TERRACE SE #104
General Information
Standard status
Active
Size
804 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
gated community
courtyard
Building Details
Building Size
804 SF
Year Built
2005
Listing Agency:
Century 21 Redwood Realty
Listed By:
Gina M. Chatham · License #0225238479
(540) 259-4090
Source:
Kdrealtygroup.kw
Added: Oct 10
Changed: Oct 13
Last Checked: Oct 14 at 7:56PM
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 Redwood Realty
Investment Insights
Based on property information with market context.
This ground-floor condo in a gated community was built in 2005. Interior details include crown molding, arched openings, and built-in shelving in the entry foyer. The primary bedroom has new carpet and a walk-in closet fitted with organizer shelving. A recently installed water heater also supplies heat to the unit.
Windows look onto a courtyard setting. The property is on the south side of Leesburg.
Windows look onto a courtyard setting. The property is on the south side of Leesburg.
Key Highlights
- Ground‑floor condo in a gated community, built in 2005
- Water heater also provides heat to the unit
- Primary bedroom has new carpet and a walk‑in closet with organizer shelving
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,539
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,780
$250.8K
Cap Rate 7%
$179,129
$179.1K
Cap Rate 9%
$139,322
$139.3K
Market Conditions
NOI Build-Up for 804 SF
Gross rent
$24.4K $30.36/SF
− Vacancy
−$1.6K −$2.00/SF
EGI
$22.8K $28.36/SF
− OpEx
−$10.3K −$12.76/SF
NOI
$12.5K $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 Rate 5%
$250,780
Cap Rate 7%
$179,129
Cap Rate 9%
$139,322
Alternative Uses
Best Use
Apartment 5plus
$179.1K
$156.7K – $209.0K
NOI $12,539 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$252.0K
$220.5K – $294.0K
NOI $17,638 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 20175, VA
33,245
Population
12,695
Households
2.6
Avg Household Size
38
Median Age
64%
College-Educated
94%
High-School Grad
59.0 sq mi
ZIP Area
563
Density / Sq Mi
$168,035
Median Household Income
$80,588
Median Earnings
$2,039
Median Rent
$717,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A gated-community condo pairs courtyard outlooks with built-in storage and an updated water heater that also heats the unit.
Where is this residential income property located?
The property is located at 507 SUNSET VIEW TERRACE SE #104 Leesburg, VA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Ground‑floor condo in a gated community, built in 2005; Water heater also provides heat to the unit; Primary bedroom has new carpet and a walk‑in closet with organizer shelving
