Renovated Two-Bedroom
For Sale
$300,000
5905 NOBLESTOWN ROAD Unit F, Springfield, VA 22152
Updated condominium residence with in-unit laundry and access to extensive community amenities.
Property Size978 SF
Days on Market8
Property Features for 5905 NOBLESTOWN ROAD Unit F
General Information
Standard status
Active
Size
978 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,844
Building Details
Building Size
978 SF
Year Built
1968
Listing Agency:
Wasinger & Co Properties, LLC.
Listed By:
Meghan M Wasinger · License #0225245711
(703) 424-0104
Source:
Dcmetrorealtyteam
Added: Aug 31
Changed: Sep 6
Last Checked: Sep 6 at 9:58AM
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 Wasinger & Co Properties, LLC.
Investment Insights
Based on property information with market context.
This renovated condominium residence offers two bedrooms and one bathroom in Cardinal Forest. Improvements include a new kitchen with appliances, an updated bathroom, and an in-unit washer and dryer. The home is positioned across from the community pool, providing immediate access to one of the property’s shared amenities.
Cardinal Forest includes an outdoor pool, tennis and basketball facilities, playgrounds, walking paths, and a clubhouse. The condominium fee covers gas, water, sewer, trash, snow removal, landscaping, pest control, exterior maintenance, the roof, and master insurance.
The property is near Old Keene Mill and Rolling Road, Cardinal Forest Plaza, Springfield Town Center, Lake Accotink Park, I-395, I-495, I-95, and the Fairfax County Parkway. Franconia-Springfield Metro, VRE, and express bus service to the Pentagon are also nearby. The stated year built is 1968.
Cardinal Forest includes an outdoor pool, tennis and basketball facilities, playgrounds, walking paths, and a clubhouse. The condominium fee covers gas, water, sewer, trash, snow removal, landscaping, pest control, exterior maintenance, the roof, and master insurance.
The property is near Old Keene Mill and Rolling Road, Cardinal Forest Plaza, Springfield Town Center, Lake Accotink Park, I-395, I-495, I-95, and the Fairfax County Parkway. Franconia-Springfield Metro, VRE, and express bus service to the Pentagon are also nearby. The stated year built is 1968.
Key Highlights
- Two‑bedroom, one‑bath condominium residence
- Renovated kitchen with new appliances and updated bathroom
- Washer and dryer located within the unit
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
$14,639
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
4.88%
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%
$292,780
$292.8K
Cap Rate 7%
$209,129
$209.1K
Cap Rate 9%
$162,656
$162.7K
Market Conditions
NOI Build-Up for 978 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
$28.2K $28.80/SF
− Vacancy
−$1.5K −$1.58/SF
EGI
$26.6K $27.22/SF
− OpEx
−$12.0K −$12.25/SF
NOI
$14.6K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /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%
$292,780
Cap Rate 7%
$209,129
Cap Rate 9%
$162,656
Alternative Uses
Best Use
Apartment 5plus
$209.1K
$183.0K – $244.0K
NOI $14,639 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.10M
$3.59M – $4.78M
NOI $286,967 @ 7.0% cap · market cap 95.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 22152, VA
29,843
Population
9,779
Households
3.1
Avg Household Size
40
Median Age
64%
College-Educated
94%
High-School Grad
6.0 sq mi
ZIP Area
4,974
Density / Sq Mi
$159,557
Median Household Income
$73,552
Median Earnings
$2,495
Median Rent
$620,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with in-unit laundry and access to extensive community amenities.
Where is this residential income property located?
The property is located at 5905 NOBLESTOWN ROAD Unit F Springfield, VA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath condominium residence; Renovated kitchen with new appliances and updated bathroom; Washer and dryer located within the unit
