Two-Bedroom Condo with Gas
For Sale
$665,000
1013 V STREET NW Unit 2, Washington, DC 20001
Mid-level unit with hardwood floors, in-unit washer and dryer, and a kitchen featuring a gas stove-top.
Property Size1,174 SF
Price / SF$566.44
Days on Market24
Property Features for 1013 V STREET NW Unit 2
General Information
Standard status
Active
Size
1,174 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,864
Amenities
in-unit washer & dryer
stainless steel appliances
quartz countertops
gas stove-top
hardwood floors
city views
Building Details
Building Size
1,174 SF
Year Built
1890
Listing Agency:
Smart Realty, LLC
(703) 314-8522
Listed By:
Brandon Campbell Smith
(703) 314-8522
Source:
Kerishull
Added: Jul 24
Changed: Aug 15
Last Checked: Aug 15 at 12:47PM
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 Smart Realty, LLC
Investment Insights
Based on property information with market context.
Mid-level, two-story condo unit with 2 bedrooms and 2.5 bathrooms, featuring hardwood floors throughout. The home has been freshly painted and includes a kitchen with stainless steel appliances, quartz countertops, and a gas stove-top. Living space is spread across two distinct floors and is set up for entertaining with abundant natural light.
The bedrooms are positioned at opposite ends of a long hallway, supporting roommate-style living with added privacy. Each bedroom includes its own bathroom. Additional in-unit convenience includes a washer and dryer.
Built in 1890, this condo is located at 1013 V Street NW Unit 2 in Washington, DC 20001, in the U St neighborhood, with access to restaurants, the U St Metro Station, Whole Foods Market, and boutique shops. The unit also offers city views.
The bedrooms are positioned at opposite ends of a long hallway, supporting roommate-style living with added privacy. Each bedroom includes its own bathroom. Additional in-unit convenience includes a washer and dryer.
Built in 1890, this condo is located at 1013 V Street NW Unit 2 in Washington, DC 20001, in the U St neighborhood, with access to restaurants, the U St Metro Station, Whole Foods Market, and boutique shops. The unit also offers city views.
Key Highlights
- 1013 V Street NW Unit 2, Washington, DC 20001
- 2 bedrooms and 2.5 bathrooms condo with two floors of living
- Hardwood floors throughout and freshly painted interior
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
$19,507
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
2.93%
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%
$390,140
$390.1K
Cap Rate 7%
$278,671
$278.7K
Cap Rate 9%
$216,744
$216.7K
Market Conditions
NOI Build-Up for 1,174 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
$37.3K $31.80/SF
− Vacancy
−$1.9K −$1.59/SF
EGI
$35.5K $30.21/SF
− OpEx
−$16.0K −$13.59/SF
NOI
$19.5K $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 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%
$390,140
Cap Rate 7%
$278,671
Cap Rate 9%
$216,744
Alternative Uses
Best Use
Apartment 5plus
$278.7K
$243.8K – $325.1K
NOI $19,507 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$603.9K
$528.4K – $704.5K
NOI $42,271 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,682
Businesses Nearby
Explore this area
Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Mid-level unit with hardwood floors, in-unit washer and dryer, and a kitchen featuring a gas stove-top.
Where is this residential income property located?
The property is located at 1013 V STREET NW Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: 1013 V Street NW Unit 2, Washington, DC 20001; 2 bedrooms and 2.5 bathrooms condo with two floors of living; Hardwood floors throughout and freshly painted interior
