2901 Charing Cross Rd #11 · Merrifield, VA 22042

$255,000

3 bd · 1.0 ba · 1,040 sqft · Condo · 7 Days on market

Built 1966 $245/sqft · 10% below area Est $282k · 10% under

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +11.9/15.0
• Schools +6.3/10.0
• 1% rule +6.2/10.0
• Cash flow +4.6/30.0
• Livability +4.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Live where convenience meets lifestyle! This move-in-ready, courtyard-facing 3-bedroom condo in Yorktowne Square puts you right in the center of it all. This light-filled home features luxury vinyl plank flooring throughout and recessed lighting that enhances its bright, inviting feel. The updated kitchen has granite countertops and newer appliances, while the living space flows effortlessly to a private balcony overlooking the courtyard and pool—perfect for morning coffee or evening unwinding. All utilities are included in the condo fee, and the community offers a full suite of amenities: pool, basketball courts, playgrounds, and walking paths. Bring Fido! Yorktowne Square is pet-fri

Key facts

• Pool
• Built 1966

Property features AI

Exterior

• Home design: Condominium; 2-story building
• Exterior features: Private balcony; Community or building pool

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 bathroom
• Interior features: Air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $255k.

Deal economics

• At list price, monthly cash flow is $-643 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Cap rate 3.3% vs local median 2.4% in Merrifield — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 90/100 on livability (#4 in VA, #90 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Fairfax County Public School District (suburban): math 61% / reading 73% proficiency, ranked #13 of 131 in VA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.1%/yr); 112 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,861 units permitted in Fairfax County in 2024 (1,829 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Fairfax County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.

Recommended offer $255,000

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 3.27%
• Cash-on-cash: -10.81%
• DSCR: 0.52
• GRM: 7.4

CMA / ARV

• ARV (median comp): $282,483
• List price: $255,000
• Delta: -9.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: -39.6%
• Equity multiple: -0.22×
• Total profit: $-86,850
• Equity at exit: $38,021

10-year hold

• IRR: -88.2%
• Equity multiple: -1.05×
• Total profit: $-146,329
• Equity at exit: $22,048

Cash invested: $71,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 22042

• Rents YoY: 1.1%
• Active inventory: 112
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,858 high
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,825/yr
• Insurance: −$106
• HOA est. from 2 same-building comps: −$1,139
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $-643

Break-even live

Break-even rent $3,672

Max offer price $161,930

Occupancy floor —

Sensitivity live

Price	-10% $-467	-5% $-555	+0% $-643	+5% $-731	+10% $-819
Rent	-10% $-869	-5% $-756	+0% $-643	+5% $-530	+10% $-417
Rate	-1.0pp $-515	-0.5pp $-578	base $-643	+0.5pp $-709	+1.0pp $-776

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3021 Nicosh Cir #1309 Falls Church, VA	2.0	2.0	1148	$2,700	$2.35	8d	1	0.12mi
3003 Nicosh Cir #3108 Falls Church, VA	2.0	2.0	1108	$2,800	$2.53	15d	1	0.14mi
8190 Strawberry Ln Falls Church, VA	1.0–3.0	1.0–2.5	1369	$3,864	$2.82	2d	20	0.36mi
2940 Yarling Ct Falls Church, VA	2.0	2.0	1025	$2,800	$2.73	44d	1	0.36mi
2910 Yarling Ct Unit 1 Falls Church, VA	2.0	2.0	996	$1,430	$1.44	25d	1	0.37mi
2839 Yarling Ct Falls Church, VA	2.0	1.0	1033	$2,800	$2.71	21d	1	0.40mi
2810 Yarling Ct Falls Church, VA	2.0	2.0	1379	$3,000	$2.18	44d	1	0.42mi
2844 Yarling Ct Falls Church, VA	2.0	2.0	1113	$2,700	$2.43	44d	1	0.45mi
2987 District Ave Fairfax, VA	2.0	1.0–2.0	875	$3,305	$3.77	3d	1	0.54mi
7758 New Providence Dr #9 Falls Church, VA	2.0	2.0	940	$2,600	$2.77	21d	1	0.56mi
7753 New Providence Dr #79 Falls Church, VA	2.0	2.0	945	$2,500	$2.65	44d	1	0.59mi
8130 Prescott Dr Vienna, VA	1.0–3.0	1.0–2.0	1037	$3,699	$3.57	2d	26	0.61mi
2750 Gallows Rd Vienna, VA	2.0	1.0–2.0	863	$3,150	$3.65	2d	1	0.64mi
2729 Merrilee Dr Fairfax, VA	2.0	1.0–2.0	803	$3,439	$4.28	2d	25	0.70mi
8183 Carnegie Hall Ct Vienna, VA	2.0	2.0	1148	$2,800	$2.44	21d	1	0.70mi
8183 Carnegie Hall Ct Vienna, VA	2.0	2.0	1166	$2,750	$2.36	11d	3	0.70mi
8183 Carnegie Hall Ct Vienna, VA	2.0	2.0	1166	$2,795	$2.40	25d	2	0.70mi
8183 Carnegie Hall Ct Vienna, VA	2.0	2.0	1166	$2,795	$2.40	19d	2	0.70mi
8183 Carnegie Hall Ct Unit 20 Vienna, VA	2.0	2.0	1185	$2,790	$2.35	19d	1	0.70mi
2726 Gallows Rd Vienna, VA	1.0–2.0	1.0–2.0	958	$2,650	$2.76	25d	2	0.71mi
2726 Gallows Rd Vienna, VA	1.0–2.0	1.0–2.0	979	$2,400	$2.45	21d	2	0.71mi
2841 Windsor Dr #202 Falls Church, VA	2.0	1.0	1002	$2,500	$2.50	44d	1	0.72mi
2852 Dover Ln Falls Church, VA	2.0	1.0	950	$2,100	$2.21	44d	1	0.74mi
2665 Prosperity Ave Fairfax, VA	2.0	1.0–2.0	989	$2,950	$2.98	15d	2	0.82mi
2665 Prosperity Ave Fairfax, VA	2.0	1.0	898	$3,200	$3.56	25d	1	0.82mi
2677 Avenir Pl Vienna, VA	2.0	1.0–2.0	838	$3,077	$3.67	2d	24	0.82mi
8301 Anderson Dr Fairfax, VA	1.0–3.0	1.0–2.5	1192	$3,052	$2.56	2d	41	0.83mi
2767 January Ct Falls Church, VA	3.0	3.5	1386	$3,150	$2.27	44d	1	0.84mi
7618 Savannah St #104 Falls Church, VA	2.0	1.0	819	$2,300	$2.81	44d	1	0.87mi
2700 Dorr Ave Fairfax, VA	1.0–2.0	1.0–2.0	931	$3,090	$3.32	2d	29	0.90mi
7481 Lee Hwy Falls Church, VA	1.0–2.0	1.0	775	$1,895	$2.45	25d	1	1.07mi
7723 Marthas Ln Falls Church, VA	4.0	2.0	1326	$3,450	$2.60	12d	1	1.10mi
7435 Arlington Blvd Falls Church, VA	2.0	1.0	625	$2,214	$3.54	8d	16	1.10mi
3302 Woodburn Village Dr Annandale, VA	2.0	1.0	898	$1,990	$2.22	44d	1	1.12mi
3354 Woodburn Rd #21 Annandale, VA	2.0	1.5	982	$2,200	$2.24	11d	1	1.19mi
3354 Woodburn Rd Annandale, VA	2.0	1.5	982	$2,200	$2.24	21d	1	1.19mi
7400 Parkwood Ct Falls Church, VA	3.0	1.0–2.0	718	$2,900	$4.04	4d	20	1.21mi
8312 Tobin Rd #31 Annandale, VA	2.0	1.0	869	$2,050	$2.36	22d	1	1.24mi
3323 Breckenridge Ct Annandale, VA	3.0	2.5	1218	$3,100	$2.55	8d	1	1.27mi
7308 Poplar Ct Falls Church, VA	3.0	1.5	1326	$3,500	$2.64	16d	1	1.32mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $255,000 Coming Soon 7 DOM
2. 2026-06-17
   days on market $255,000 Coming Soon 6 DOM
3. 2026-06-16
   days on market $255,000 Coming Soon 5 DOM
4. 2026-06-15
   days on market $255,000 Coming Soon 4 DOM
5. 2026-06-13
   days on market $255,000 Coming Soon 2 DOM
6. 2026-06-13
   days on market $255,000 Coming Soon 1 DOM
7. 2026-06-09
   days on market $255,000 Coming Soon 35 DOM
8. 2026-06-08
   days on market $255,000 Coming Soon 34 DOM
9. 2026-06-07
   days on market $255,000 Coming Soon 33 DOM
10. 2026-06-04
    days on market $255,000 Coming Soon 30 DOM
11. 2026-06-03
    days on market $255,000 Coming Soon 29 DOM
12. 2026-06-02
    days on market $255,000 Coming Soon 28 DOM
13. 2026-06-01
    days on market $255,000 Coming Soon 27 DOM
14. 2026-05-31
    days on market $255,000 Coming Soon 26 DOM
15. 2020-08-12
    soldstatus $261,900 Closed 684-char remark
16. 2020-07-05
    status Pending 684-char remark
17. 2020-07-02
    listed $259,900 Active 684-char remark
18. 2014-08-26
    soldstatus $205,000 Sold 322-char remark
19. 2014-08-26
    soldstatus $205,000
20. 2014-07-18
    status Contract 322-char remark
21. 2014-07-18
    historical
22. 2014-06-28
    price $205,000 322-char remark
23. 2014-05-16
    status Active 322-char remark
24. 2014-05-16
    historical Temporarily Off-Market 322-char remark
25. 2014-05-16
    listed $209,900 Active 322-char remark
26. 2014-05-16
    listed $205,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,300
• − Mortgage interest: −$14,284
• − Property taxes: −$3,825
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,744
• − Management: −$2,744
• − HOA: −$13,668
• − Depreciation: −$7,418
• Taxable loss: −$11,658
• Est. tax savings @ 24.0%: +$2,798
• After-tax cash flow: $-4,920/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fairfax County Public School District
• NCES district ID: 5101260
• Math proficiency: 61% ▼ -24.00%
• Reading proficiency: 73% ▼ -8.00%
• Median HH income: $110,238
• Composite: 62.59/100
• National rank: #679
• State rank: #13 of 131 in VA

Livability — Merrifield

• Score: 90/100
• State rank: #4
• US rank: #90

Category grades

Amenities A+ Commute A+ Cost of living F Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrifield, VA
• County: Fairfax County · 1,104,456 people
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 35,483
• Household income: $138,255
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 857.0

Population outlook (Fairfax County) Hauer SSP2

• Today (2025): 1,237,259 people
• By 2030: 1,277,758 · +3.3%
• By 2040: 1,346,508 · +8.8%
• By 2050: 1,397,919 · +13.0%
• By 2075: 1,493,100 · +20.7%
• By 2100: 1,465,712 · +18.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 40% Hispanic / Latino 33% Asian 18% Two or more races 12% Black 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 37% · Canada, Vietnam, China
• Languages at home: 50% English-only · Spanish 30% Vietnamese 8% Other Indo-European 4%

Political lean MEDSL · Fairfax

• 2024 margin: Solid D (+35.0) · D 66.1% · R 31.1% · Other 2.8%
• 2008→2024 swing: +13.8pp toward D · 2008: 21.2pp · 2024: 35.0pp
• All cycles: 2024: D+35.0 2020: D+41.9 2016: D+36.2 2012: D+19.8 2008: D+21.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -488.58%
• Current HPI: 349.9051
• Rent YoY: ▲ 1.12%
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B