Renovated Residential Income
For Sale
$230,000
520 N ST SW #S317, Washington, DC 20024
WASHINGTON, DC
Property Size645 SF
Price / SF$356.59
Days on Market19
Property Features for 520 N ST SW #S317
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Subdivision
WATERFRONT SW RLA
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
Amenities
24/7 Security Gate
Glass Enclosed Gym
Indoor Pool
Rooftop Terrace
EV Chargers
Guest Parking
Building Details
Year built
1966
Listing Agency:
Chevy Chase Circle
(202) 966-1400
Listed By:
Nancy Pulley
(301) 254-6244
Added: Aug 17
Changed: Aug 19
Last Checked: Sep 4 at 6:06AM
MLS# DCDC2278826
Copyright © 2026 Long & Foster Real Estate. 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 residential income property is a 645-square-foot junior one-bedroom residence with a separate 11x10 bedroom that can remain private or open to the living room. The interior has been renovated and offers flexibility for a daytime office arrangement with a Murphy Bed.
Located within Harbour Square, the property includes access to a 24/7 security gate, utilities, a glass-enclosed gym, an indoor 50 pool, outdoor seating areas, waterfront roof terrace, watergardens, guest parking, and EV chargers. The setting occupies 6 acres on the water and is adjacent to Ft McNair. The Waterfront Metro is one block away, with the Capitol building also nearby. Built in 1966.
Located within Harbour Square, the property includes access to a 24/7 security gate, utilities, a glass-enclosed gym, an indoor 50 pool, outdoor seating areas, waterfront roof terrace, watergardens, guest parking, and EV chargers. The setting occupies 6 acres on the water and is adjacent to Ft McNair. The Waterfront Metro is one block away, with the Capitol building also nearby. Built in 1966.
Key Highlights
- 645 sq. Ft junior one‑bedroom residence
- Separate private 11x10 bedroom with flexible connection to the living room
- Renovated interior with Murphy Bed option for daytime office use
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
$10,717
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
4.66%
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%
$214,340
$214.3K
Cap Rate 7%
$153,100
$153.1K
Cap Rate 9%
$119,078
$119.1K
Market Conditions
NOI Build-Up for 645 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
$20.5K $31.80/SF
− Vacancy
−$1.0K −$1.59/SF
EGI
$19.5K $30.21/SF
− OpEx
−$8.8K −$13.59/SF
NOI
$10.7K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$214,340
Cap Rate 7%
$153,100
Cap Rate 9%
$119,078
Alternative Uses
Best Use
Apartment 5plus
$153.1K
$134.0K – $178.6K
NOI $10,717 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.8K
$290.3K – $387.1K
NOI $23,224 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,520
Businesses Nearby
Explore this area
Business Placement
Demographics for 20024, DC
15,952
Population
11,560
Households
1.4
Avg Household Size
37
Median Age
70%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
7,251
Density / Sq Mi
$102,623
Median Household Income
$94,419
Median Earnings
$2,121
Median Rent
$497,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated unit offers flexible separation between the bedroom and living area.
Where is this residential income property located?
The property is located at 520 N ST SW #S317 Washington, DC.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 645 sq. Ft junior one‑bedroom residence; Separate private 11x10 bedroom with flexible connection to the living room; Renovated interior with Murphy Bed option for daytime office use
