Has anyone experienced this in Herndon area ?

A friend of mine try to rent out his 3Br townhouse near Elen street/Herndon pky for $1350/month. It's been few weeks and only few people showed interest. With many low end condo/townhouses (especially those "bank owned") are being snapped up by investors. Most of them will be on the market for rent if not already. Will this lower the avg rental price in this area?