Residential Income Property with Covered
7718 LAFAYETTE FOREST DRIVE Unit 176, Annandale, VA 22003
For Sale
$360,000
Updated HVAC and kitchen appliances complement a second-floor residence with wooded outlooks.
Property Size1,130 SF
Price / SF$318.58
Days on Market164
Property Features for 7718 LAFAYETTE FOREST DRIVE Unit 176
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
covered balcony
granite countertops
generous cabinetry
Building Details
Building Size
Year Built
Listing Agency:
EXP Realty, LLC
Listed By:
Loretta Rossomondo · License VA #0225200789
(703) 405-0601
Source:
Canopy-re
Added: Jun 4
Changed: Nov 13
Last Checked: Nov 13 at 7:57AM
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 EXP Realty, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,130-square-foot, second-floor condo was built in 1987 and has a covered balcony overlooking trees. Interior features include granite kitchen counters, ample cabinetry, custom closet systems, upgraded carpeting with padding, and fresh paint. The HVAC system was replaced in 2025, and the appliances were updated in 2024.
Key Highlights
- 1,130‑square‑foot second‑floor condo
- Covered balcony with views of trees and greenery
- HVAC system replaced in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,915
Cap Rate
4.70%
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 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$627.6K
$549.2K – $732.2K
NOI $43,934 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Updated HVAC and kitchen appliances complement a second-floor residence with wooded outlooks.
Where is this residential income property located?
The property is located at 7718 LAFAYETTE FOREST DRIVE Unit 176 Annandale, VA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1,130‑square‑foot second‑floor condo; Covered balcony with views of trees and greenery; HVAC system replaced in 2025
