Brick End-Unit Multifamily
For Sale
$675,000
1016 IRVING STREET NW, Washington, DC 20010
Two separately metered 1BR/1BA units with hardwood floors, flexible rear bonus rooms, and stackable washer-dryers.
Property Size1,330 SF
Price / SF$507.52
Days on Market177
Property Features for 1016 IRVING STREET NW
General Information
Standard status
Active
Size
1,330 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,287
Building Details
Building Size
1,330 SF
Year Built
1950
Listing Agency:
Long & Foster Real Estate, Inc.
(240) 229-9111
Listed By:
Demetria C Scott · License #BR200200400
(240) 229-9111
Source:
Kerishull
Added: Mar 5
Changed: Aug 26
Last Checked: Aug 26 at 6:05AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This classic brick end-unit multifamily duplex includes two separate 1BR/1BA residences with independently metered utilities. Each unit features a spacious living room with abundant natural light, hardwood floors, and a flexible rear bonus room that can accommodate a home office, den, or additional living space. Stackable washer-dryers are in both units. The property is being sold with one unit vacant and the other currently occupied, giving buyers flexibility in managing occupancy and interior updates.
Set on a corner lot on a quiet, tree-lined street, the home is positioned for convenient neighborhood access, with retail and dining options, parks, and Metro located just minutes away as described in the listing remarks. The end-unit layout and corner placement are also expected to support strong daylighting and curb appeal.
The opportunity is well suited for buyers looking to renovate and refresh the interior. The owner has completed DC’s newly revised TOPA exemption notices related to the transfer and sale, and the property is marketed with a clear path to closing so buyers can move forward promptly. Showings require 24-hour notice.
Set on a corner lot on a quiet, tree-lined street, the home is positioned for convenient neighborhood access, with retail and dining options, parks, and Metro located just minutes away as described in the listing remarks. The end-unit layout and corner placement are also expected to support strong daylighting and curb appeal.
The opportunity is well suited for buyers looking to renovate and refresh the interior. The owner has completed DC’s newly revised TOPA exemption notices related to the transfer and sale, and the property is marketed with a clear path to closing so buyers can move forward promptly. Showings require 24-hour notice.
Key Highlights
- Classic brick end‑unit multifamily in Columbia Heights featuring two separately‑metered 1BR/1BA units
- Each unit includes spacious living areas with hardwood floors and a flexible rear bonus room (home office/den/extra living)
- Stackable washer‑dryers in both units; one unit is vacant and the other is occupied
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
$23,830
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
3.53%
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%
$476,600
$476.6K
Cap Rate 7%
$340,429
$340.4K
Cap Rate 9%
$264,778
$264.8K
Market Conditions
NOI Build-Up for 1,330 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
$35.9K $27.00/SF
− Vacancy
−$1.9K −$1.40/SF
EGI
$34.0K $25.60/SF
− OpEx
−$10.2K −$7.68/SF
NOI
$23.8K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /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%
$476,600
Cap Rate 7%
$340,429
Cap Rate 9%
$264,778
Alternative Uses
Best Use
Multifamily LT 5
$340.4K
$297.9K – $397.2K
NOI $23,830 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$315.7K
$276.2K – $368.3K
NOI $22,099 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$684.1K
$598.6K – $798.1K
NOI $47,888 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
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 - Two separately metered 1BR/1BA units with hardwood floors, flexible rear bonus rooms, and stackable washer-dryers.
Where is this duplex located?
The property is located at 1016 IRVING STREET NW Washington, DC.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Classic brick end‑unit multifamily in Columbia Heights featuring two separately‑metered 1BR/1BA units; Each unit includes spacious living areas with hardwood floors and a flexible rear bonus room (home office/den/extra living); Stackable washer‑dryers in both units; one unit is vacant and the other is occupied
