7113 Penguin Pl, Falls Church, VA 22043
ASK: $950,000 BUY NOW PRICE: $960,000 ARV: $1,300,000
Subdivision: Southampton Forest County: Fairfax, VA
Property Snapshot
- Bedrooms / Bathrooms: 4 / 4 (3/2 upstairs, 1/2 downstairs)
- HVAC less than 10 years. Outside condenser 5 years or less
- Above Grade Finished SQFT: 1,722
- Below Grade Finished SQFT: 1,722± (fully finished daylight basement)
- Lot: 0.24 acres / 10,516 sqft
- Year Built: 1970 (major remodel in 2008)
- School District: McLean High School, Longfellow Middle, Haycock Elementary
- Taxable Total Assessment: $1,086,080
- Annual Taxes: $12,555
- Zoning: R-3
- Utilities: Public water/sewer, gas heating, electric cooling
- Garage: 2-car attached
Highlights & Features
- Sought-after McLean High School district — rare to find a home below tax value here.
- Updated in 2008 with granite counters, stainless steel appliances, custom vent hood, and remodeled bathrooms.
- Sunroom addition brings extra natural light and creates a seamless indoor-outdoor flow.
- Daylight, walk-out basement includes a recreation room, full bath, and space for an office/gym/guest suite.
- Private and quiet lot in a well-established neighborhood just minutes from WFC Metro, I-66, I-495, Rt 7, shopping, and restaurants.
- Excellent curb appeal with a brick façade, mature trees, and landscaped front.
- Ample storage and parking with a large driveway and two-car garage.
- Well-maintained systems: Natural gas heat, central air conditioning, modern water heater, and updated roof condition.
Condition Breakdown
Exterior:
Beautifully maintained brick rambler with vinyl siding addition. The lot offers privacy and space — a rarity in this pocket of Falls Church. Roof in solid condition. Driveway and landscaping well kept.
Interior:
High-quality finishes with hardwood floors, recessed lighting, and neutral tones throughout. Kitchen and baths remain in excellent shape. Layout ideal for modern family living or high-end rental appeal.
Basement:
Fully finished, walkout design with flexible space for a recreation room, guest area, or home gym. Opens to the backyard and deck.
Systems:
Forced air heating and central A/C; all major systems operational and well-maintained.
Why This Deal Works
- Immediate Equity: Priced at $950K — more than $130K below county tax assessment and $200K+ below nearby renovated sales.
- Prime Location: Falls Church address with top-rated Fairfax schools and easy commuter access.
- Luxury Appeal: High-end finishes, large layout, and a strong neighborhood of $1.1M–$1.3M homes.
- Low-Risk Buy: Minimal improvements needed — property is move-in ready.
- Rental Strength: Excellent school district and proximity to major employers ensures consistent demand and above-average rents.
Estimated Rental Income
-
Market Rent: ~$5,000–$5,500/month
(based on similar 4BR homes in McLean/Falls Church with finished basements and 2-car garages)
This property offers flexibility: hold as a high-end rental with equity, or resell retail after light updates.
Buyer Terms
- Price: $950,000 (Buy Now: $960,000)
- Deposit: $20,000
- Title Company: First Class Title
- Access: By appointment only
- Closing: Standard timeline
📸 Photo Breakdown Summary
Exterior: Beautiful curb appeal, brick façade, mature trees, 2-car garage, and well-maintained landscaping.
Main Level: Spacious and bright with updated kitchen, granite counters, SS appliances, open dining/living room, and sunroom addition.
Bedrooms: Four generously sized bedrooms with modern baths and updated flooring.
Basement: Daylight, fully finished, with exterior access and bonus space for gym or office.
POST-OCCUPANCY TERMS
- Seller to remain in possession approx. 14 days post-settlement
- $25,000 escrow deposit with First Class Title LLC from sellers proceeds at closing.
- Property delivered in same condition as settlement.
- OCCUPANCY CHARGE. Seller agrees to pay an “Occupancy Charge” as follows that will be
deducted from the Security Deposit:- a. No charge – for days 1 – 14 after the Settlement Date
b. $300.00 per day from day 15 after the settlement date and every day until the property is vacant
- a. No charge – for days 1 – 14 after the Settlement Date