Two-Level Residential Income
For Sale
$595,000
8856 ASHGROVE HOUSE LANE Unit 102, Vienna, VA 22182
Condo with flexible living areas, private outdoor space, assigned parking, and community amenities.
Property Size1,530 SF
Price / SF$388.89
Days on Market140
Property Features for 8856 ASHGROVE HOUSE LANE Unit 102
General Information
Standard status
Active
Size
1,530 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,392
Amenities
clubhouse
fitness center
swimming pool
private balcony
fireplace
Building Details
Building Size
1,530 SF
Year Built
2000
Listing Agency:
Long & Foster Real Estate, Inc.
(301) 466-4066
Listed By:
Harriet R Kline · License #0225268931
(301) 466-4066
Source:
Kerishull
Added: Apr 13
Changed: Aug 29
Last Checked: Aug 29 at 5:04PM
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.
Investment Insights
Based on property information with market context.
This 1,530-square-foot condominium offers two bedrooms, two full bathrooms, and a two-level layout. The main level includes an eat-in kitchen connected to a dining and family room with a fireplace, while a lower-level family room adds adaptable interior space. A private balcony extends the living area, and the property includes one assigned parking space plus a guest parking pass.
Built in 2000, the residence is part of a community with a clubhouse, fitness center, and swimming pool. The property is located in Vienna, near Tysons shopping, dining, and transportation, with Wolf Trap concert arena minutes away. The combination of bedroom count, multiple living areas, parking, and shared amenities supports residential use and income-property ownership.
Built in 2000, the residence is part of a community with a clubhouse, fitness center, and swimming pool. The property is located in Vienna, near Tysons shopping, dining, and transportation, with Wolf Trap concert arena minutes away. The combination of bedroom count, multiple living areas, parking, and shared amenities supports residential use and income-property ownership.
Key Highlights
- 1,530‑square‑foot condominium with two bedrooms and two full bathrooms
- Two‑level layout with a lower‑level family room
- Eat‑in kitchen opens to a dining and family room with fireplace
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
$22,902
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
3.85%
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%
$458,040
$458.0K
Cap Rate 7%
$327,171
$327.2K
Cap Rate 9%
$254,467
$254.5K
Market Conditions
NOI Build-Up for 1,530 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
$44.1K $28.80/SF
− Vacancy
−$2.4K −$1.58/SF
EGI
$41.6K $27.22/SF
− OpEx
−$18.7K −$12.25/SF
NOI
$22.9K $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 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%
$458,040
Cap Rate 7%
$327,171
Cap Rate 9%
$254,467
Alternative Uses
Best Use
Apartment 5plus
$327.2K
$286.3K – $381.7K
NOI $22,902 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.41M
$5.61M – $7.48M
NOI $448,936 @ 7.0% cap · market cap 75.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo with flexible living areas, private outdoor space, assigned parking, and community amenities.
Where is this residential income property located?
The property is located at 8856 ASHGROVE HOUSE LANE Unit 102 Vienna, VA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1,530‑square‑foot condominium with two bedrooms and two full bathrooms; Two‑level layout with a lower‑level family room; Eat‑in kitchen opens to a dining and family room with fireplace
