Updated Residential Income
For Sale
$350,000
820 BELMONT BAY DR #303, Woodbridge, VA 22191
WOODBRIDGE, VA
Property Size1,219 SF
Price / SF$287.12
Days on Market135
Property Features for 820 BELMONT BAY DR #303
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1
Subdivision
RIVER CLUB
Elementary school district
PRINCE WILLIAM COUNTY PUBLIC SCHOOLS
Middle school district
PRINCE WILLIAM COUNTY PUBLIC SCHOOLS
High school district
PRINCE WILLIAM COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
pool
parks
walking trails
stainless steel appliances
fireplace
Building Details
Year built
2005
Listing Agency:
Woodbridge/Prince William Parkway
(703) 986-5700
Listed By:
Jackie Rajabi
(804) 282-7300
Added: Apr 22
Changed: Aug 28
Last Checked: Sep 3 at 3:06AM
MLS# VAPW2117940
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Unit 303 is a residential income property within River Club 1, built in 2005. The 1,219-square-foot residence has an open interior arrangement with a primary suite, den, and additional half bedroom. An updated kitchen with stainless steel appliances complements updated bathrooms, while the fireplace, chimney, and flue convey in their current as-is condition.
The property is located at 820 Belmont Bay Dr #303 in Woodbridge, Virginia, near the Occoquan River. Community amenities include parks, walking trails, and a pool, with shopping, dining, and major commuter routes to Washington, D.C. nearby. Decorative mirrors in the entryway, den, and primary bedroom will be removed by the seller before settlement.
The property is located at 820 Belmont Bay Dr #303 in Woodbridge, Virginia, near the Occoquan River. Community amenities include parks, walking trails, and a pool, with shopping, dining, and major commuter routes to Washington, D.C. nearby. Decorative mirrors in the entryway, den, and primary bedroom will be removed by the seller before settlement.
Key Highlights
- 1,219‑square‑foot Unit 303 in River Club 1
- Open layout with primary suite, den, and additional half bedroom
- Updated kitchen and bathrooms with stainless steel appliances
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
$16,388
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
4.68%
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%
$327,760
$327.8K
Cap Rate 7%
$234,114
$234.1K
Cap Rate 9%
$182,089
$182.1K
Market Conditions
NOI Build-Up for 1,219 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
$30.7K $25.20/SF
− Vacancy
−$922 −$0.76/SF
EGI
$29.8K $24.44/SF
− OpEx
−$13.4K −$11.00/SF
NOI
$16.4K $13.44/SF
Area
Prince William County, VA
Vacancy
3.00%
Lease Rate
$25.20 /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%
$327,760
Cap Rate 7%
$234,114
Cap Rate 9%
$182,089
Alternative Uses
Best Use
Apartment 5plus
$234.1K
$204.9K – $273.1K
NOI $16,388 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$358.0K
$313.3K – $417.7K
NOI $25,060 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 22191, VA
74,189
Population
26,127
Households
2.8
Avg Household Size
34
Median Age
39%
College-Educated
87%
High-School Grad
15.4 sq mi
ZIP Area
4,817
Density / Sq Mi
$107,993
Median Household Income
$49,388
Median Earnings
$2,069
Median Rent
$432,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Unit 303 features an open layout, updated kitchen and baths, and flexible space for guests or a home office.
Where is this residential income property located?
The property is located at 820 BELMONT BAY DR #303 Woodbridge, VA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,219‑square‑foot Unit 303 in River Club 1; Open layout with primary suite, den, and additional half bedroom; Updated kitchen and bathrooms with stainless steel appliances
