Two-Bedroom Residential Income
7707 LAFAYETTE FOREST DRIVE Unit 61, Annandale, VA 22003
For Sale
$349,500
A first-floor home pairs an open living and dining area with a fireplace, balcony, and in-unit laundry.
Property Size1,130 SF
Price / SF$309.29
Days on Market36
Property Features for 7707 LAFAYETTE FOREST DRIVE Unit 61
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
fireplace
balcony
breakfast bar
washer/dryer
extra storage bin
pool
tennis
Building Details
Building Size
Year Built
Listing Agency:
Mega Realty & Investment Inc
Listed By:
Jin Kim · License VA #0225155172
(703) 328-7585
Source:
Jackrealtygroup
Added: Oct 10
Changed: Nov 11
Last Checked: Nov 13 at 10:07AM
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 Mega Realty & Investment Inc
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Investment Insights
Based on property information with market context.
This 1,130-square-foot, two-bedroom, two-bathroom residential unit is on the first floor and is vacant. Its living room features a fireplace and connects to a balcony with an open rear outlook. The kitchen has a breakfast bar and opens to the living and dining areas. A walk-in closet, in-unit washer and dryer, and basement storage bin #4 add practical features. Recent updates include HVAC installed in 2021, a washer and dryer from 2020, newer flooring in the primary bathroom, recessed LED fixtures, fresh paint, new carpet, and new blinds. The property is offered as-is.
Community amenities include a pool and tennis courts. Shops and parks are nearby, with access to I-495. Visitor parking is available on the first floor; each unit has two parking tags, and spaces are not reserved.
Community amenities include a pool and tennis courts. Shops and parks are nearby, with access to I-495. Visitor parking is available on the first floor; each unit has two parking tags, and spaces are not reserved.
Key Highlights
- 1,130‑square‑foot unit with 2 bedrooms and 2 bathrooms
- First‑floor residence with fireplace and balcony
- Kitchen breakfast bar opens to living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,915
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,300
$338.3K
Cap Rate 7%
$241,643
$241.6K
Cap Rate 9%
$187,944
$187.9K
Market Conditions
NOI Build-Up for 1,130 SF
Gross rent
$32.5K $28.80/SF
− Vacancy
−$1.8K −$1.58/SF
EGI
$30.8K $27.22/SF
− OpEx
−$13.8K −$12.25/SF
NOI
$16.9K $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 Rate 5%
$338,300
Cap Rate 7%
$241,643
Cap Rate 9%
$187,944
Alternative Uses
Best Use
Apartment 5plus
$241.6K
$211.4K – $281.9K
NOI $16,915 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$627.6K
$549.2K – $732.2K
NOI $43,934 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Explore this area
Business Placement
Demographics for 22003, VA
59,372
Population
19,497
Households
3
Avg Household Size
39
Median Age
51%
College-Educated
87%
High-School Grad
12.6 sq mi
ZIP Area
4,712
Density / Sq Mi
$134,109
Median Household Income
$54,906
Median Earnings
$1,988
Median Rent
$694,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A first-floor home pairs an open living and dining area with a fireplace, balcony, and in-unit laundry.
Where is this residential income property located?
The property is located at 7707 LAFAYETTE FOREST DRIVE Unit 61 Annandale, VA.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: 1,130‑square‑foot unit with 2 bedrooms and 2 bathrooms; First‑floor residence with fireplace and balcony; Kitchen breakfast bar opens to living and dining areas
