One-Bedroom Residential Income
For Sale
$239,900
7093 SPRING GARDEN DRIVE Unit 101, Springfield, VA 22150
Condominium offering a compact, low-maintenance layout near transit, retail, dining, entertainment, and commuter routes.
Property Size732 SF
Days on Market12
Property Features for 7093 SPRING GARDEN DRIVE Unit 101
General Information
Standard status
Active
Size
732 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,399
Building Details
Building Size
732 SF
Year Built
1964
Listing Agency:
Atlas One Realty
(571) 237-5852
Listed By:
Wilhelm F Maida · License #225096590
(571) 237-5852
Source:
Dcmetrorealtyteam
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 31 at 9:36PM
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 Atlas One Realty
Investment Insights
Based on property information with market context.
This one-bedroom, one-bathroom condominium at 7093 Spring Garden Drive, Unit 101, was built in 1964. Its compact residential layout supports low-maintenance living and may suit an owner-occupant or investor, as described for the property.
The home is minutes from Springfield Metro and Springfield Town Center, with shopping, dining, entertainment, and major commuter routes nearby. Washington, DC is approximately 20 minutes away.
The home is minutes from Springfield Metro and Springfield Town Center, with shopping, dining, entertainment, and major commuter routes nearby. Washington, DC is approximately 20 minutes away.
Key Highlights
- One‑bedroom, one‑bathroom condominium at 7093 Spring Garden Drive, Unit 101
- Built in 1964
- Minutes from Springfield Metro
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
$10,957
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
4.57%
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%
$219,140
$219.1K
Cap Rate 7%
$156,529
$156.5K
Cap Rate 9%
$121,744
$121.7K
Market Conditions
NOI Build-Up for 732 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
$21.1K $28.80/SF
− Vacancy
−$1.2K −$1.58/SF
EGI
$19.9K $27.22/SF
− OpEx
−$9.0K −$12.25/SF
NOI
$11.0K $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%
$219,140
Cap Rate 7%
$156,529
Cap Rate 9%
$121,744
Alternative Uses
Best Use
Apartment 5plus
$156.5K
$137.0K – $182.6K
NOI $10,957 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.07M
$2.68M – $3.58M
NOI $214,785 @ 7.0% cap · market cap 89.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,538
Businesses Nearby
Explore this area
Business Placement
Demographics for 22150, VA
27,955
Population
9,695
Households
2.9
Avg Household Size
40
Median Age
45%
College-Educated
88%
High-School Grad
7.6 sq mi
ZIP Area
3,678
Density / Sq Mi
$120,406
Median Household Income
$47,412
Median Earnings
$2,631
Median Rent
$617,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium offering a compact, low-maintenance layout near transit, retail, dining, entertainment, and commuter routes.
Where is this residential income property located?
The property is located at 7093 SPRING GARDEN DRIVE Unit 101 Springfield, VA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: One‑bedroom, one‑bathroom condominium at 7093 Spring Garden Drive, Unit 101; Built in 1964; Minutes from Springfield Metro
