Four-Unit Residential Income
For Sale
$930,000
1918 I Street NE, Washington, DC 20002
MULTI_FAMILY - WASHINGTON, DC
Property Size2,368 SF
Lot Size0.06 Acres
Price / SF$392.74
Days on Market863
Property Features for 1918 I Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, Alley
Interior features
Ceiling Fan(s), Floor Plan - Open, Wood Floors
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
2,368 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
6980
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1942
Number of units
4
Building materials
Brick
Listing Agency:
Taylor Properties
(301) 970-2447
Listed By:
Ahmad Iravani · License #SP98378404
(240) 423-0909
Added: Apr 20, 2024
Changed: Jul 13
Last Checked: Aug 30 at 5:06PM
MLS# DCDC2138032
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 four-unit residential income property at 1918 I Street NE is well maintained and designed for comfortable day-to-day living. Each unit features hardwood floors and central air conditioning with heating, supporting consistent tenant appeal and simplified operations. The property is currently generating income with two units leased on a month-to-month basis.
Set in Trinidad, Washington, DC, the home is surrounded by Northeast Washington’s local offerings, with nearby grocery options and easy access to transportation. Street parking is available for tenants and guests. The area also offers close proximity to the US National Arboretum and the dining and entertainment options associated with the H Street Corridor.
In addition to the existing rental setup, the property is described as having reconfiguration options, offering additional avenues for optimizing the layout based on an ownership plan.
Set in Trinidad, Washington, DC, the home is surrounded by Northeast Washington’s local offerings, with nearby grocery options and easy access to transportation. Street parking is available for tenants and guests. The area also offers close proximity to the US National Arboretum and the dining and entertainment options associated with the H Street Corridor.
In addition to the existing rental setup, the property is described as having reconfiguration options, offering additional avenues for optimizing the layout based on an ownership plan.
Key Highlights
- Brick 4‑unit property built in 1942 in Trinidad, Washington DC
- Central heating and central air conditioning included for each unit
- Interior features include wood floors, open floor plan, and ceiling fans
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
$45,113
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
4.85%
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%
$902,260
$902.3K
Cap Rate 7%
$644,471
$644.5K
Cap Rate 9%
$501,256
$501.3K
Market Conditions
NOI Build-Up for 2,368 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
$68.2K $28.80/SF
− Vacancy
−$3.8K −$1.58/SF
EGI
$64.4K $27.22/SF
− OpEx
−$19.3K −$8.16/SF
NOI
$45.1K $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%
$902,260
Cap Rate 7%
$644,471
Cap Rate 9%
$501,256
Alternative Uses
Best Use
Multifamily LT 5
$644.5K
$563.9K – $751.9K
NOI $45,113 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$575.9K
$503.9K – $671.9K
NOI $40,314 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,582 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,174
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four-unit multifamily with hardwood floors and central AC/heating in each unit, currently with two month-to-month leases.
Where is this multifamily property located?
The property is located at 1918 I Street NE Washington, DC.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Brick 4‑unit property built in 1942 in Trinidad, Washington DC; Central heating and central air conditioning included for each unit; Interior features include wood floors, open floor plan, and ceiling fans
