Redesigned Residential Income
For Sale
$399,700
1009 RHODE ISLAND AVENUE NE Unit 1, Washington, DC 20018
Two-bedroom condominium with an open layout, upgraded finishes, and convenient access to neighborhood retail, dining, entertainment, and Metro.
Property Size812 SF
Days on Market21
Property Features for 1009 RHODE ISLAND AVENUE NE Unit 1
General Information
Standard status
Active
Size
812 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,711
Building Details
Building Size
812 SF
Year Built
1917
Listing Agency:
EXP Realty, LLC
Listed By:
Cathy Poungmalai · License #SP98360130
(703) 786-5776
Source:
Kwcapitalproperties
Added: Sep 16
Changed: Oct 3
Last Checked: Oct 6 at 12:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC
Investment Insights
Based on property information with market context.
Unit 1 is a two-bedroom, two-full-bath condominium in a boutique building originally completed in 1917 and later redesigned by ERB Properties. The residence has an open-concept arrangement with high ceilings, wood flooring, recessed lighting, and connected living and dining areas. A renovated kitchen includes white cabinetry, stainless-steel appliances, quartz countertops, a center island with seating, and pendant fixtures.
Both bathrooms feature quartz surfaces and contemporary finishes. The primary bath includes a glass-enclosed walk-in shower with marble-look tile, while the second full bath has a tub-and-shower combination with subway tile. The property is located at 1009 Rhode Island Avenue NE in Washington, DC, near Brookland, Rhode Island Row, Metro, restaurants, shopping, and entertainment.
Both bathrooms feature quartz surfaces and contemporary finishes. The primary bath includes a glass-enclosed walk-in shower with marble-look tile, while the second full bath has a tub-and-shower combination with subway tile. The property is located at 1009 Rhode Island Avenue NE in Washington, DC, near Brookland, Rhode Island Row, Metro, restaurants, shopping, and entertainment.
Key Highlights
- Two‑bedroom, two‑full‑bath condominium at 1009 Rhode Island Avenue NE Unit 1
- Building originally completed in 1917 and redesigned by ERB Properties
- Open‑concept living and dining areas with high ceilings and wood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,492
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$269,840
$269.8K
Cap Rate 7%
$192,743
$192.7K
Cap Rate 9%
$149,911
$149.9K
Market Conditions
NOI Build-Up for 812 SF
Gross rent
$25.8K $31.80/SF
− Vacancy
−$1.3K −$1.59/SF
EGI
$24.5K $30.21/SF
− OpEx
−$11.0K −$13.59/SF
NOI
$13.5K $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 Rate 5%
$269,840
Cap Rate 7%
$192,743
Cap Rate 9%
$149,911
Alternative Uses
Best Use
Apartment 5plus
$192.7K
$168.7K – $224.9K
NOI $13,492 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$417.7K
$365.5K – $487.3K
NOI $29,237 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,682
Businesses Nearby
Explore this area
Business Placement
Demographics for 20018, DC
20,646
Population
9,753
Households
2.1
Avg Household Size
39
Median Age
46%
College-Educated
89%
High-School Grad
3.0 sq mi
ZIP Area
6,882
Density / Sq Mi
$92,569
Median Household Income
$71,947
Median Earnings
$1,245
Median Rent
$672,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with an open layout, upgraded finishes, and convenient access to neighborhood retail, dining, entertainment, and Metro.
Where is this residential income property located?
The property is located at 1009 RHODE ISLAND AVENUE NE Unit 1 Washington, DC.
What is the asking price?
The asking price for this property is $399,700.
What are key features of this property?
This property features: Two‑bedroom, two‑full‑bath condominium at 1009 Rhode Island Avenue NE Unit 1; Building originally completed in 1917 and redesigned by ERB Properties; Open‑concept living and dining areas with high ceilings and wood flooring
