Residential Income Property with Pool
For Sale
$205,000
Pending
9479 FAIRFAX BOULEVARD Unit 302, Fairfax, VA 22031
Third-floor, one-bedroom condo with utilities and community amenities covered by the condo fee.
Property Size698 SF
Days on Market25
Property Features for 9479 FAIRFAX BOULEVARD Unit 302
General Information
Standard status
Pending
Size
698 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,230
Amenities
pool
Building Details
Building Size
698 SF
Year Built
1963
Listing Agency:
Pearson Smith Realty, LLC
Listed By:
Kelly D McGinn · License #0225065371
(703) 507-4444
Source:
Jackrealtygroup
Added: Oct 3
Changed: Oct 27
Last Checked: Oct 26 at 3:48PM
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 Pearson Smith Realty, LLC
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Investment Insights
Based on property information with market context.
This 698-square-foot, one-bedroom condominium occupies the third floor of a residential building constructed in 1963. Recent interior work includes fresh paint, new carpet, kitchen flooring, granite countertops and a garbage disposal. The bathroom has a replacement vanity and lighting, and the unit has a new HVAC system. Its outlook includes the community pool and surrounding trees.
Utilities and community amenities are included in the condo fee. The property is located in Fairfax City, near Fair City Mall and downtown Fairfax City, where shopping, restaurants and local events are available.
Utilities and community amenities are included in the condo fee. The property is located in Fairfax City, near Fair City Mall and downtown Fairfax City, where shopping, restaurants and local events are available.
Key Highlights
- 698‑square‑foot, one‑bedroom condominium
- Third‑floor unit with views of the community pool and trees
- New HVAC system, kitchen flooring, garbage disposal, bathroom vanity and lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,448
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,960
$209.0K
Cap Rate 7%
$149,257
$149.3K
Cap Rate 9%
$116,089
$116.1K
Market Conditions
NOI Build-Up for 698 SF
Gross rent
$20.1K $28.80/SF
− Vacancy
−$1.1K −$1.58/SF
EGI
$19.0K $27.22/SF
− OpEx
−$8.5K −$12.25/SF
NOI
$10.4K $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%
$208,960
Cap Rate 7%
$149,257
Cap Rate 9%
$116,089
Alternative Uses
Best Use
Apartment 5plus
$149.3K
$130.6K – $174.1K
NOI $10,448 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.93M
$2.56M – $3.41M
NOI $204,809 @ 7.0% cap · market cap 99.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,046
Businesses Nearby
Explore this area
Business Placement
Demographics for 22031, VA
35,256
Population
15,390
Households
2.3
Avg Household Size
36
Median Age
72%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,966
Density / Sq Mi
$129,743
Median Household Income
$74,178
Median Earnings
$2,267
Median Rent
$710,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor, one-bedroom condo with utilities and community amenities covered by the condo fee.
Where is this residential income property located?
The property is located at 9479 FAIRFAX BOULEVARD Unit 302 Fairfax, VA.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: 698‑square‑foot, one‑bedroom condominium; Third‑floor unit with views of the community pool and trees; New HVAC system, kitchen flooring, garbage disposal, bathroom vanity and lighting
