Brick Quadplex
For Sale
$800,000
1616 E Street NE, Washington, DC 20002
Multi-Family, WASHINGTON, DC
Property Size3,278 SF
Lot Size0.07 Acres
Price / SF$244.05
Days on Market58
Property Features for 1616 E Street NE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
On Street
Subdivision
OLD CITY #1
High school
EASTERN SENIOR
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Special listing conditions
Short Sale
Standard status
Active
Size
3,278 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
103267
Building Details
Year built
1936
Number of units
4
Building materials
Brick
Listing Agency:
CENTURY 21 Envision
(240) 232-7005
Listed By:
Corey E Morgan · License #SP98367483
(202) 277-5179
Added: Jul 18
Changed: Sep 5
Last Checked: Sep 13 at 3:06PM
MLS# DCDC2274188
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick quadplex was built in 1936 and is presented as a shell prepared for renovation. The property contains 3,278 square feet on a 0.0669-acre parcel, with on-street parking serving the site. Proposed unit plans provide for three bedrooms and two bathrooms across two levels, and permits are available upon request.
Located at 1616 E Street NE in Washington, DC 20002, the property is positioned blocks from the newly planned Commanders Stadium.
Located at 1616 E Street NE in Washington, DC 20002, the property is positioned blocks from the newly planned Commanders Stadium.
Key Highlights
- 3,278‑square‑foot quadplex on a 0.0669‑acre parcel
- Brick construction dating to 1936
- Shell condition prepared for renovation
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,450
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,249,000
$1.2M
Cap Rate 7%
$892,143
$892.1K
Cap Rate 9%
$693,889
$693.9K
Market Conditions
NOI Build-Up for 3,278 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$94.4K $28.80/SF
− Vacancy
−$5.2K −$1.58/SF
EGI
$89.2K $27.22/SF
− OpEx
−$26.8K −$8.16/SF
NOI
$62.4K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,249,000
Cap Rate 7%
$892,143
Cap Rate 9%
$693,889
Alternative Uses
Best Use
Multifamily LT 5
$892.1K
$780.6K – $1.04M
NOI $62,450 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$797.2K
$697.6K – $930.1K
NOI $55,807 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,471 @ 7.0% cap · market cap 14.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Brick multifamily property with a renovation-ready shell and available two-level unit plans.
Where is this quadplex located?
The property is located at 1616 E Street NE Washington, DC.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 3,278‑square‑foot quadplex on a 0.0669‑acre parcel; Brick construction dating to 1936; Shell condition prepared for renovation
