2-Bedroom Residential Income
For Sale
$599,000
1032 OTIS STREET NE Unit 202, Washington, DC 20017
The second-level home has a dedicated parking space, in-unit laundry, and a separate powder room.
Property Size1,224 SF
Days on Market13
Property Features for 1032 OTIS STREET NE Unit 202
General Information
Standard status
Active
Size
1,224 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
University Heights
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,310
Building Details
Building Size
1,224 SF
Year Built
2017
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Kevin D Poist
(202) 441-1757
Source:
Barnesrealestatecompany
Added: Oct 19
Changed: Oct 29
Last Checked: Oct 28 at 1:40PM
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 TTR Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This 2017 second-level residence offers two bedrooms, two full bathrooms, and a separate powder room. The open interior connects a dedicated dining area with a kitchen featuring stainless steel appliances, a large island with breakfast-bar seating, and ample cabinetry. Wood flooring, oversized windows, a walk-in closet, and side-by-side laundry machines with overhead storage are among its features. One full bath has a glass-enclosed shower; the other includes a tub and shower combination. A dedicated parking space is included.
The home is in Brookland, near the Brookland-CUA Metro station on the Red Line and the Metropolitan Branch Trail. Nearby destinations named in the listing include Monroe Street Market, Brookland Arts Walk, Dance Place, the Franciscan Monastery gardens, and the Basilica of the National Shrine.
The home is in Brookland, near the Brookland-CUA Metro station on the Red Line and the Metropolitan Branch Trail. Nearby destinations named in the listing include Monroe Street Market, Brookland Arts Walk, Dance Place, the Franciscan Monastery gardens, and the Basilica of the National Shrine.
Key Highlights
- Two bedrooms, two full bathrooms, and a powder room
- Built in 2017
- Dedicated parking space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,337
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,740
$406.7K
Cap Rate 7%
$290,529
$290.5K
Cap Rate 9%
$225,967
$226.0K
Market Conditions
NOI Build-Up for 1,224 SF
Gross rent
$38.9K $31.80/SF
− Vacancy
−$1.9K −$1.59/SF
EGI
$37.0K $30.21/SF
− OpEx
−$16.6K −$13.59/SF
NOI
$20.3K $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%
$406,740
Cap Rate 7%
$290,529
Cap Rate 9%
$225,967
Alternative Uses
Best Use
Apartment 5plus
$290.5K
$254.2K – $339.0K
NOI $20,337 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$629.6K
$550.9K – $734.5K
NOI $44,071 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,239
Businesses Nearby
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Business Placement
Demographics for 20017, DC
20,293
Population
9,252
Households
2.2
Avg Household Size
37
Median Age
59%
College-Educated
92%
High-School Grad
2.2 sq mi
ZIP Area
9,224
Density / Sq Mi
$101,543
Median Household Income
$74,399
Median Earnings
$1,793
Median Rent
$686,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The second-level home has a dedicated parking space, in-unit laundry, and a separate powder room.
Where is this residential income property located?
The property is located at 1032 OTIS STREET NE Unit 202 Washington, DC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two bedrooms, two full bathrooms, and a powder room; Built in 2017; Dedicated parking space
