Residential Income Property with
For Sale
$525,000
1034 OTIS STREET NE Unit 101, Washington, DC 20017
Two-bedroom condominium offering an open living plan, private outdoor space, and convenient access to Metro and neighborhood amenities.
Property Size965 SF
Price / SF$544.04
Days on Market16
Property Features for 1034 OTIS STREET NE Unit 101
General Information
Standard status
Active
Size
965 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,326
Building Details
Building Size
965 SF
Year Built
2017
Listing Agency:
Keller Williams Preferred Properties
Listed By:
Lance P Macon · License #SP98374214
(240) 718-8023
Source:
Kerishull
Added: Aug 21
Changed: Aug 31
Last Checked: Sep 5 at 4:54AM
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 Keller Williams Preferred Properties
Investment Insights
Based on property information with market context.
This 965-square-foot residential income property is a 2017-built condominium with two bedrooms, two full baths, and one half bath. The interior centers on an open living and kitchen arrangement with hardwood flooring, stainless steel appliances, upgraded countertops, cabinetry, and a large island. A flexible dining nook can also accommodate a home office. Each bedroom includes a private full bath, while the rear patio is fenced for outdoor use.
The property is located in Brookland, two blocks from the Metro and near the Brookland Arts Walk, Capital Bikeshare, restaurants, grocery options, Catholic University, MedStar Washington Hospital Center, Children’s Hospital, and VA Hospitals. Major highways and surface streets provide connections throughout Washington, while the Metropolitan Bike Trail offers a nearby cycling route toward downtown.
The property is located in Brookland, two blocks from the Metro and near the Brookland Arts Walk, Capital Bikeshare, restaurants, grocery options, Catholic University, MedStar Washington Hospital Center, Children’s Hospital, and VA Hospitals. Major highways and surface streets provide connections throughout Washington, while the Metropolitan Bike Trail offers a nearby cycling route toward downtown.
Key Highlights
- 965 SF condominium built in 2017
- Two bedrooms with two full baths and one half bath
- Private fenced patio at the rear of the property
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
$16,034
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
3.05%
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%
$320,680
$320.7K
Cap Rate 7%
$229,057
$229.1K
Cap Rate 9%
$178,156
$178.2K
Market Conditions
NOI Build-Up for 965 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
$30.7K $31.80/SF
− Vacancy
−$1.5K −$1.59/SF
EGI
$29.2K $30.21/SF
− OpEx
−$13.1K −$13.59/SF
NOI
$16.0K $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%
$320,680
Cap Rate 7%
$229,057
Cap Rate 9%
$178,156
Alternative Uses
Best Use
Apartment 5plus
$229.1K
$200.4K – $267.2K
NOI $16,034 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$496.4K
$434.3K – $579.1K
NOI $34,746 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,239
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium offering an open living plan, private outdoor space, and convenient access to Metro and neighborhood amenities.
Where is this residential income property located?
The property is located at 1034 OTIS STREET NE Unit 101 Washington, DC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 965 SF condominium built in 2017; Two bedrooms with two full baths and one half bath; Private fenced patio at the rear of the property
