2901 Charing Cross Rd #8 · Merrifield, VA 22042

$189,500

1 bd · 1.0 ba · 732 sqft · Condo · 113 Days on market

Built 1966 $259/sqft · 20% below area Est $238k · 20% under $802/mo HOA · 38% of rent

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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 +15.0/15.0
• Schools +6.3/10.0
• 1% rule +6.0/10.0
• Cash flow +4.8/30.0
• 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 MLS

* * Top to bottom renovated condo in the heart of Falls Church. ! * * Meticulously updated with high-quality finishes, featuring a gourmet kitchen with brand-new soft-close cabinetry, sleek quartz countertops, and premium stainless steel appliances. * * Durable LVP flooring flows seamlessly throughout the open layout, leading to a private, covered a large private balcony with serene views of the community pool. Unbeatable value meets convenience—the monthly condo fee covers ALL UTILITIES (Electric, Gas, and Water). * * Exceptional perks include two spacious walk-in closets. * * Fully updated bathroom. * * Residents enjoy resort-style amenities including a swimming pool, basketball courts, and outdoor grilling areas. * * Additional basement storage. * * Prime Location: Ideally situated near the Dunn Loring Metro, Mosaic District, and Inova Fairfax Hospital, with effortless access to I-495, I-66, and Tysons Corner and Washington D. C. * * This move-in-ready gem offers the lifestyle you’ve been searching for!

Key facts

• Quartz countertops
• Community pool
• Private balcony

Tags

• GOURMET KITCHEN
• SOFT-CLOSE CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• PRIVATE BALCONY
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-465 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (35.5% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $122k (35.5% below list) — sets the bar for cash-flow.
• 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); 115 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 113 days — a 9% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,249 (35.5% below list)

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. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.10% ✓
• Cap rate: 3.35%
• Cash-on-cash: -10.51%
• DSCR: 0.53
• GRM: 7.6

CMA / ARV

• ARV (median comp): $237,815
• List price: $189,500
• Delta: -20.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -38.8%
• Equity multiple: -0.20×
• Total profit: $-63,654
• Equity at exit: $28,255

10-year hold

• IRR: -85.0%
• Equity multiple: -1.01×
• Total profit: $-106,710
• Equity at exit: $16,384

Cash invested: $53,060 (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: 115
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$994
• Tax est. 1.5%: −$237 /mo · $2,842/yr
• Insurance: −$79
• HOA: −$802
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-465

Break-even live

Break-even rent $2,673

Max offer price $122,249

Occupancy floor —

Sensitivity live

Price	-10% $-334	-5% $-399	+0% $-465	+5% $-530	+10% $-596
Rent	-10% $-629	-5% $-547	+0% $-465	+5% $-382	+10% $-300
Rate	-1.0pp $-369	-0.5pp $-417	base $-465	+0.5pp $-514	+1.0pp $-564

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: $47,375
• Closing costs: $5,685
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2903 Charing Cross Rd #7 Falls Church, VA	1.0	1.0	732	$1,950	$2.66	5d	1	0.00mi
2904 Kings Chapel Rd Unit 5/16 Falls Church, VA	1.0	1.0	732	$2,000	$2.73	21d	1	0.06mi
8190 Strawberry Ln Falls Church, VA	1.0–3.0	1.0–2.5	1369	$2,484	$1.81	2d	20	0.36mi
2987 District Ave Fairfax, VA	2.0	1.0–2.0	875	$2,732	$3.12	3d	1	0.54mi
2750 Gallows Rd Vienna, VA	2.0	1.0–2.0	863	$2,535	$2.94	3d	1	0.64mi
2729 Merrilee Dr Fairfax, VA	2.0	1.0–2.0	803	$2,686	$3.34	2d	25	0.70mi
2655 Prosperity Ave #318 Fairfax, VA	1.0	1.0	667	$2,150	$3.22	3d	1	0.77mi
2677 Avenir Pl Vienna, VA	2.0	1.0–2.0	838	$2,602	$3.10	2d	24	0.82mi
2700 Dorr Ave Fairfax, VA	1.0–2.0	1.0–2.0	931	$1,950	$2.09	2d	29	0.90mi
3150 Anchorway Ct Unit E Falls Church, VA	1.0	1.0	724	$2,100	$2.90	44d	1	0.99mi
3151 Anchorway Ct Unit H Falls Church, VA	1.0	1.0	628	$1,950	$3.11	19d	1	1.01mi
2754 Hollywood Rd Unit 304 Falls Church, VA	1.0	1.0	621	$1,875	$3.02	16d	1	1.02mi
7481 Lee Hwy Falls Church, VA	1.0–2.0	1.0	775	$1,595	$2.06	25d	1	1.07mi
7435 Arlington Blvd Falls Church, VA	2.0	1.0	625	$1,968	$3.15	8d	16	1.10mi
3300 Woodburn Village Dr #21 Annandale, VA	1.0	1.0	728	$1,750	$2.40	44d	1	1.11mi
3378 Woodburn Rd Unit 3378-14 Annandale, VA	1.0	1.0	750	$2,390	$3.19	44d	1	1.12mi
3354 Woodburn Rd #14 Annandale, VA	1.0	1.0	728	$1,900	$2.61	44d	1	1.19mi
7400 Parkwood Ct Falls Church, VA	3.0	1.0–2.0	718	$2,087	$2.91	4d	20	1.21mi
2809 W Glen Dr Falls Church, VA	2.0	1.0	627	$1,908	$3.04	8d	7	1.35mi

HOA detail condo

• Monthly dues: $802 · $9,624/yr
• Likely covers: watergaselectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-21
   days on market $189,500 Active 113 DOM
2. 2026-06-18
   days on market $189,500 Active 110 DOM
3. 2026-06-17
   days on market $189,500 Active 109 DOM
4. 2026-06-16
   days on market $189,500 Active 108 DOM
5. 2026-06-15
   days on market $189,500 Active 107 DOM
6. 2026-06-13
   days on market $189,500 Active 105 DOM
7. 2026-06-13
   days on market $189,500 Active 104 DOM
8. 2026-06-09
   days on market $189,500 Active 101 DOM
9. 2026-06-08
   days on market $189,500 Active 100 DOM
10. 2026-06-07
    days on market $189,500 Active 99 DOM
11. 2026-06-04
    days on market $189,500 Active 96 DOM
12. 2026-06-03
    days on market $189,500 Active 95 DOM
13. 2026-06-02
    days on market $189,500 Active 94 DOM
14. 2026-06-02
    price $189,500 Active 93 DOM
15. 2026-06-01
    days on market $194,900 Active 93 DOM
16. 2026-05-31
    days on market $194,900 Active 92 DOM
17. 2026-05-03
    price $199,900 1052-char remark

    Show marketing remark (1052 chars)

    * * Top to bottom renovated condo in the heart of Falls Church. ! * * Meticulously updated with high-quality finishes, featuring a gourmet kitchen with brand-new soft-close cabinetry, sleek quartz countertops, and premium stainless steel appliances. * * Durable LVP flooring flows seamlessly throughout the open layout, leading to a private, covered a large private balcony with serene views of the community pool. Unbeatable value meets convenience—the monthly condo fee covers ALL UTILITIES (Electric, Gas, and Water). * * Exceptional perks include two spacious walk-in closets. * * Fully updated bathroom. * * Residents enjoy resort-style amenities including a swimming pool, basketball courts, and outdoor grilling areas. * * Additional basement storage. * * Prime Location: Ideally situated near the Dunn Loring Metro, Mosaic District, and Inova Fairfax Hospital, with effortless access to I-495, I-66, and Tysons Corner and Washington D. C. * * This move-in-ready gem offers the lifestyle you’ve been searching for!

18. 2026-03-01
    listed $210,000 Active 1052-char remark

    Show marketing remark (1052 chars)

    * * Top to bottom renovated condo in the heart of Falls Church. ! * * Meticulously updated with high-quality finishes, featuring a gourmet kitchen with brand-new soft-close cabinetry, sleek quartz countertops, and premium stainless steel appliances. * * Durable LVP flooring flows seamlessly throughout the open layout, leading to a private, covered a large private balcony with serene views of the community pool. Unbeatable value meets convenience—the monthly condo fee covers ALL UTILITIES (Electric, Gas, and Water). * * Exceptional perks include two spacious walk-in closets. * * Fully updated bathroom. * * Residents enjoy resort-style amenities including a swimming pool, basketball courts, and outdoor grilling areas. * * Additional basement storage. * * Prime Location: Ideally situated near the Dunn Loring Metro, Mosaic District, and Inova Fairfax Hospital, with effortless access to I-495, I-66, and Tysons Corner and Washington D. C. * * This move-in-ready gem offers the lifestyle you’ve been searching for!

19. 2025-04-15
    historical
20. 2025-03-24
    price $224,900
21. 2025-03-06
    price $229,900
22. 2025-02-27
    price $234,900
23. 2025-02-13
    listed $239,900 Active
24. 2025-02-12
    historical
25. 2024-10-23
    historical
26. 2024-09-04
    listed $249,900 Active
27. 2024-08-20
    historical
28. 2024-08-11
    listed $249,900 Active
29. 2024-08-10
    historical
30. 2024-03-27
    soldstatus $226,000 Closed
31. 2024-03-18
    historical Active Under Contract
32. 2024-02-24
    listed $229,999 Active
33. 2024-02-24
    historical $229,999
34. 2017-09-29
    listed $164,900 Active
35. 2017-08-15
    soldstatus $125,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,015
• − Mortgage interest: −$10,615
• − Property taxes: −$2,842
• − Insurance: −$948
• − Repairs & maintenance: −$2,001
• − Management: −$2,001
• − HOA: −$9,624
• − Depreciation: −$5,513
• Taxable loss: −$8,529
• Est. tax savings @ 24.0%: +$2,047
• After-tax cash flow: $-3,530/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

Price history

+59.9% since first listed

19 events — show timeline

• 2026-05-03 Price Changed $199,900 BRIGHT MLS
• 2026-03-01 Listed $210,000 BRIGHT MLS
• 2025-04-15 Listing Removed — BRIGHT MLS
• 2025-03-24 Price Changed $224,900 BRIGHT MLS
• 2025-03-06 Price Changed $229,900 BRIGHT MLS
• 2025-02-27 Price Changed $234,900 BRIGHT MLS
• 2025-02-13 Listed $239,900 BRIGHT MLS
• 2025-02-12 Coming Soon — BRIGHT MLS
• 2024-10-23 Listing Removed — BRIGHT MLS
• 2024-09-04 Listed $249,900 BRIGHT MLS
• 2024-08-20 Listing Removed — BRIGHT MLS
• 2024-08-11 Listed $249,900 BRIGHT MLS
• 2024-08-10 Coming Soon — BRIGHT MLS
• 2024-03-27 Sold (MLS) $226,000 BRIGHT MLS
• 2024-03-18 Contingent — BRIGHT MLS
• 2024-02-24 Listed $229,999 BRIGHT MLS
• 2024-02-24 Coming Soon $229,999 BRIGHT MLS
• 2017-09-29 Listed $164,900 BRIGHT MLS
• 2017-08-15 Sold (MLS) $125,000 BRIGHT MLS