11432 Washington Plaza West, Reston, VA 20190
2 bedroom 1 bath condo
tenant pays $1400/month currently on month to month lease
Asking $300k, Value -- $330k
Condo fee -- $848/month includes all utilities
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The 300K for a 2br condo seems alright for a real lovely condo. But wait, then there is a $848 a month condo fee. Ouch! That is 10,716 a year for just condo fees (includes utilities). The tenant is paying 1,400 a month. Thus the condo free represents 60% of the total rent for the unit. Yikes. No wonder the flipper wants to sell. The seller seems desperate.
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