Residential Income Property with Enclosed
For Sale
$429,000
8380 GREENSBORO DRIVE Unit 323, Mc Lean, VA 22102
An updated condominium offers an open layout, in-unit laundry, additional storage, and access to extensive community amenities.
Property Size992 SF
Price / SF$432.46
Days on Market172
Property Features for 8380 GREENSBORO DRIVE Unit 323
General Information
Standard status
Active
Size
992 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,192
Amenities
enclosed balcony
in-unit washer/dryer
extra storage
indoor pool
outdoor pool
tennis courts
basketball courts
fitness center
game room
library
convenience store
scenic walking trails
24-hour gated entrance
Building Details
Building Size
992 SF
Year Built
1980
Listing Agency:
Fairfax Realty of Tysons
Listed By:
BIN HU · License #0225236710
(202) 870-1479
Source:
Canopy-re
Added: May 15
Changed: Oct 27
Last Checked: Oct 31 at 7:44AM
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 Fairfax Realty of Tysons
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Investment Insights
Based on property information with market context.
This 992-square-foot condominium, built in 1980, has an open floor plan and an enclosed balcony. Interior improvements include LVP flooring, white wood doors, an updated kitchen with modern appliances and a newer dishwasher, and remodeled bathrooms. The unit also includes a washer and dryer and additional storage. Management plans to replace the sliding door leading to the balcony.
The Rotonda community provides indoor and outdoor pools, tennis and basketball courts, a fitness center, game room, library, convenience store, and walking trails. A 24-hour gated entrance serves the property, and the north gate provides a route to the metro station. Water is included in the condo fee.
The Rotonda community provides indoor and outdoor pools, tennis and basketball courts, a fitness center, game room, library, convenience store, and walking trails. A 24-hour gated entrance serves the property, and the north gate provides a route to the metro station. Water is included in the condo fee.
Key Highlights
- 992 SF condominium built in 1980
- Enclosed balcony with sliding door replacement planned by management
- Updated kitchen, remodeled bathrooms, LVP flooring, and white wood doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,849
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,980
$297.0K
Cap Rate 7%
$212,129
$212.1K
Cap Rate 9%
$164,989
$165.0K
Market Conditions
NOI Build-Up for 992 SF
Gross rent
$28.6K $28.80/SF
− Vacancy
−$1.6K −$1.58/SF
EGI
$27.0K $27.22/SF
− OpEx
−$12.1K −$12.25/SF
NOI
$14.8K $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%
$296,980
Cap Rate 7%
$212,129
Cap Rate 9%
$164,989
Alternative Uses
Best Use
Apartment 5plus
$212.1K
$185.6K – $247.5K
NOI $14,849 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.16M
$3.64M – $4.85M
NOI $291,075 @ 7.0% cap · market cap 67.85%
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
4,228
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 - An updated condominium offers an open layout, in-unit laundry, additional storage, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 8380 GREENSBORO DRIVE Unit 323 Mc Lean, VA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 992 SF condominium built in 1980; Enclosed balcony with sliding door replacement planned by management; Updated kitchen, remodeled bathrooms, LVP flooring, and white wood doors
