Brick Duplex with Two
For Sale
$799,900
1012 FLORIDA Avenue NE, Washington, DC 20002
MULTI_FAMILY - Federal - WASHINGTON, DC
Property Size1,400 SF
Lot Size0.08 Acres
Price / SF$571.36
Days on Market21
Property Features for 1012 FLORIDA Avenue NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
3
Parking features
Driveway
Subdivision
CAPITOL HILL NORTH
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
1,400 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
9760
Utilities
Heating system
Forced Air
Building Details
Year built
1903
Number of units
2
Building materials
Brick
Architectural style
Federal
Listing Agency:
Keller Williams Capital Properties · Keller Williams Realty
(202) 243-7700
Listed By:
Joel S Nelson · License #SP98357766
(202) 243-7707
Added: Jul 24
Changed: Jul 25
Last Checked: Aug 13 at 4:06AM
MLS# DCDC2275218
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 semi-detached brick building is currently configured as two unit flats with one unit on the upper level and one unit on the lower level. The property features front and side entrances, and it has most recently been used with an office on the ground level and a 1BR apartment above. The site includes a small lot of approximately 0.0773 acres and is listed with an overall property size of about 1,400 square feet.
The building is located at 1012 Florida Avenue NE in Washington, DC 20002. Public remarks note development options based on applicable standards, including allowance for at least 50 feet of height (two additional storeys) and more than 5,000 gross square feet of space, along with parking for approximately 3–6 vehicles.
A nearby similarly sized lot at 1020 Florida is cited in the remarks as showing maximum development of 10 luxury residences, providing additional context for potential redevelopment planning.
The building is located at 1012 Florida Avenue NE in Washington, DC 20002. Public remarks note development options based on applicable standards, including allowance for at least 50 feet of height (two additional storeys) and more than 5,000 gross square feet of space, along with parking for approximately 3–6 vehicles.
A nearby similarly sized lot at 1020 Florida is cited in the remarks as showing maximum development of 10 luxury residences, providing additional context for potential redevelopment planning.
Key Highlights
- Brick semi‑detached building built in 1903 with Federal architectural style
- Currently configured as 2 unit flats (1 up + 1 down) with front and side entrances
- Most recently used as an office on the ground level and a 1BR apartment above
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
$26,672
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
3.33%
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%
$533,440
$533.4K
Cap Rate 7%
$381,029
$381.0K
Cap Rate 9%
$296,356
$296.4K
Market Conditions
NOI Build-Up for 1,400 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
$40.3K $28.80/SF
− Vacancy
−$2.2K −$1.58/SF
EGI
$38.1K $27.22/SF
− OpEx
−$11.4K −$8.16/SF
NOI
$26.7K $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%
$533,440
Cap Rate 7%
$381,029
Cap Rate 9%
$296,356
Alternative Uses
Best Use
Multifamily LT 5
$381.0K
$333.4K – $444.5K
NOI $26,672 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$340.5K
$297.9K – $397.3K
NOI $23,835 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$722.8K
$632.5K – $843.3K
NOI $50,598 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,271
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?
Duplex - Semi-detached brick duplex configured as two flats with front and side entrances.
Where is this duplex located?
The property is located at 1012 FLORIDA Avenue NE Washington, DC.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Brick semi‑detached building built in 1903 with Federal architectural style; Currently configured as 2 unit flats (1 up + 1 down) with front and side entrances; Most recently used as an office on the ground level and a 1BR apartment above
