Updated Residential Income
For Sale
$375,000
7721 TREMAYNE PLACE Unit 202, Mc Lean, VA 22102
A top-floor, two-bedroom condo with renovated interiors and access to shared recreational amenities.
Property Size1,150 SF
Price / SF$326.09
Days on Market25
Property Features for 7721 TREMAYNE PLACE Unit 202
General Information
Standard status
Active
Size
1,150 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,177
Amenities
outdoor swimming pool
fitness center
party room
library
EV charging stations
stacked washer and dryer
Building Details
Building Size
1,150 SF
Year Built
1974
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Ruba Ayoub · License #0225210269
(703) 399-5558
Source:
Jackrealtygroup
Added: Oct 9
Changed: Nov 2
Last Checked: Oct 30 at 12:31PM
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 Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 1,112-square-foot, top-floor corner condo has two bedrooms and two bathrooms, with an open living and dining area, hardwood floors, and large windows facing mature trees. The kitchen includes a new refrigerator, dishwasher, and range. Updates also include fresh paint, lighting, bedroom flooring, and a tiled shower in the hall bathroom. The primary bedroom has two closets and an en-suite bath; a stacked washer and dryer and hallway storage add practical utility. The building dates to 1974.
Set within a gated community in McLean, the property includes access to an outdoor pool, fitness center, party room, library, and EV charging stations. The grounds feature mature trees and landscaped areas.
Set within a gated community in McLean, the property includes access to an outdoor pool, fitness center, party room, library, and EV charging stations. The grounds feature mature trees and landscaped areas.
Key Highlights
- 1,112‑square‑foot condo with 2 bedrooms and 2 bathrooms
- Top‑floor corner unit with hardwood floors and tree‑facing windows
- Kitchen equipped with a new refrigerator, dishwasher, and range
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,214
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$344,280
$344.3K
Cap Rate 7%
$245,914
$245.9K
Cap Rate 9%
$191,267
$191.3K
Market Conditions
NOI Build-Up for 1,150 SF
Gross rent
$33.1K $28.80/SF
− Vacancy
−$1.8K −$1.58/SF
EGI
$31.3K $27.22/SF
− OpEx
−$14.1K −$12.25/SF
NOI
$17.2K $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%
$344,280
Cap Rate 7%
$245,914
Cap Rate 9%
$191,267
Alternative Uses
Best Use
Apartment 5plus
$245.9K
$215.2K – $286.9K
NOI $17,214 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.82M
$4.22M – $5.62M
NOI $337,436 @ 7.0% cap · market cap 89.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,149
Businesses Nearby
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Business Placement
Demographics for 22102, VA
27,743
Population
14,274
Households
1.9
Avg Household Size
37
Median Age
81%
College-Educated
99%
High-School Grad
12.3 sq mi
ZIP Area
2,256
Density / Sq Mi
$153,816
Median Household Income
$93,200
Median Earnings
$2,471
Median Rent
$1,003,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A top-floor, two-bedroom condo with renovated interiors and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 7721 TREMAYNE PLACE Unit 202 Mc Lean, VA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,112‑square‑foot condo with 2 bedrooms and 2 bathrooms; Top‑floor corner unit with hardwood floors and tree‑facing windows; Kitchen equipped with a new refrigerator, dishwasher, and range
