Building Details

Building Size 1,506 SF

Year Built 2000

Listing Agency: Spring Hill Real Estate, LLC.

Listed By: Sonal Grover · License #0225254688 Show Phone

Source: Kerishull

Added: Aug 14 Changed: Oct 3 Last Checked: Oct 15 at 7:24AM

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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 Spring Hill Real Estate, LLC.

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Investment Insights

Based on property information with market context.

This two-level condominium contains 1,506 square feet with two bedrooms and two full bathrooms. The main floor includes a living room with fireplace, an eat-in kitchen, a primary bedroom with an attached bath, and a balcony. A lower-level media room provides additional interior space that can function as an office, lounge, or living area. The property was built in 2000.

The unit includes one assigned parking space plus a guest parking pass. Community amenities include a clubhouse, fitness center, and swimming pool. Restaurants, retail, Walmart, a Metro station, and a gym are described as walkable from the property, while Wolf Trap National Park for the Performing Arts is a short drive away.

Key Highlights

• 1,506‑square‑foot condominium with two bedrooms and two full bathrooms
• Two‑level layout with lower‑level media room suitable for office, lounge, or living use
• Main‑level primary bedroom includes an attached bath and balcony

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,543

Cap Rate

4.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$450,860 $450.9K

Cap Rate 7%

$322,043 $322.0K

Cap Rate 9%

$250,478 $250.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,506 SF

Gross rent

$43.4K $28.80/SF

− Vacancy

−$2.4K −$1.58/SF

EGI

$41.0K $27.22/SF

− OpEx

−$18.4K −$12.25/SF

NOI

$22.5K $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%

$450,860

Cap Rate 7%

$322,043

Cap Rate 9%

$250,478

Alternative Uses

Best Use

Apartment 5plus

$322.0K

$281.8K – $375.7K (±1% cap)

NOI $22,543 @ 7.0% cap · market cap 4.34%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$6.31M

$5.52M – $7.36M (±1% cap)

NOI $441,894 @ 7.0% cap · market cap 84.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Grocery & Convenience Store (Bike/Boat/Book/etc) Store Bakery Plumbing Service Locksmith Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

1,216

Businesses Nearby

Explore this area Business Placement

Demographics for 22182, VA

27,778

Population

10,285

Households

2.7

Avg Household Size

42

Median Age

82%

College-Educated

97%

High-School Grad

12.5 sq mi

ZIP Area

2,222

Density / Sq Mi

$200,038

Median Household Income

$102,749

Median Earnings

$2,618

Median Rent

$1,086,600

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - Condominium offers flexible living and work areas with community amenities and dedicated parking.

Where is this residential income property located?

The property is located at 8850 ASHGROVE HOUSE LANE Unit 101 Vienna, VA.

What is the asking price?

The asking price for this property is $520,000.

What are key features of this property?

This property features: 1,506‑square‑foot condominium with two bedrooms and two full bathrooms; Two‑level layout with lower‑level media room suitable for office, lounge, or living use; Main‑level primary bedroom includes an attached bath and balcony