Updated Residential Income
7717 LAFAYETTE FOREST DRIVE Unit 02, Annandale, VA 22003
For Sale
$355,000
The condo includes in-unit laundry, a same-level private storage unit, and access to community recreation amenities.
Property Size1,130 SF
Price / SF$314.16
Days on Market45
Property Features for 7717 LAFAYETTE FOREST DRIVE Unit 02
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
swimming pool
walking paths
tennis courts
in-unit laundry
storage unit
Building Details
Building Size
Year Built
Listing Agency:
IMG REALTY, LLC
Listed By:
Hoang M Nguyen · License VA #0225084502
(703) 531-7848
Source:
Canopy-re
Added: Oct 1
Changed: Nov 11
Last Checked: Nov 13 at 8:01AM
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 IMG REALTY, LLC
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Investment Insights
Based on property information with market context.
This 1,130-square-foot condo in Lafayette Forest has two bedrooms and two bathrooms. Engineered hardwood flooring was installed in the living room and bedrooms in 2022, and luxury vinyl tile was added to the kitchen, dining room, and laundry room in 2026. The kitchen was remodeled in 2021, the patio door was replaced in 2024, and the HVAC system dates to 2018. Fresh paint was completed throughout in 2026. In-unit laundry and a private storage unit on the same level add practical convenience.
Community amenities include an outdoor swimming pool, walking paths, and tennis courts. The property offers access to I-495, shopping, dining, commuter routes, and everyday services.
Community amenities include an outdoor swimming pool, walking paths, and tennis courts. The property offers access to I-495, shopping, dining, commuter routes, and everyday services.
Key Highlights
- Two‑bedroom, two‑bathroom condo spanning 1,130 square feet
- Kitchen remodeled in 2021; new luxury vinyl tile in kitchen, dining room, and laundry room in 2026
- Engineered hardwood flooring in living room and bedrooms, installed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,915
Cap Rate
4.76%
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 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$627.6K
$549.2K – $732.2K
NOI $43,934 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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
Frequently Asked Questions
What type of property is this?
Residential income property - The condo includes in-unit laundry, a same-level private storage unit, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 7717 LAFAYETTE FOREST DRIVE Unit 02 Annandale, VA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom condo spanning 1,130 square feet; Kitchen remodeled in 2021; new luxury vinyl tile in kitchen, dining room, and laundry room in 2026; Engineered hardwood flooring in living room and bedrooms, installed in 2022
