Corner Residential Income
For Sale
$469,000
1099 22ND STREET NW Unit 103, Washington, DC 20037
Main-level corner residence with private outdoor space and full-service condominium amenities.
Property Size839 SF
Days on Market9
Property Features for 1099 22ND STREET NW Unit 103
General Information
Standard status
Active
Size
839 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,469
Building Details
Building Size
839 SF
Year Built
1985
Listing Agency:
Winston Real Estate, Inc.
Listed By:
Gigi R. Winston · License #BR98367703
(703) 850-9642
Source:
Kwcapitalproperties
Added: Sep 6
Changed: Sep 12
Last Checked: Sep 14 at 9:22AM
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 Winston Real Estate, Inc.
Investment Insights
Based on property information with market context.
This residential income property is a corner residence within a full-service condominium completed in 1985. The home contains approximately 839 square feet with one bedroom, one full bath, and a powder room. Interior features include floor-to-ceiling windows, hardwood flooring, an open living and dining arrangement, extensive kitchen cabinetry, and an in-unit washer and dryer. A private balcony extends the living area outdoors, while the main-level position provides access without relying on an elevator.
Building amenities include 24-hour concierge service, a fitness center, community and party space, a lobby lounge, interior courtyard, bike storage, additional storage, and controlled building entry. The property is located at 1099 22nd Street NW in Washington, DC, with West End, Foggy Bottom, Dupont Circle, Georgetown, and downtown Washington identified as nearby areas. No parking space conveys with the unit; parking may be available for rent within the building.
Building amenities include 24-hour concierge service, a fitness center, community and party space, a lobby lounge, interior courtyard, bike storage, additional storage, and controlled building entry. The property is located at 1099 22nd Street NW in Washington, DC, with West End, Foggy Bottom, Dupont Circle, Georgetown, and downtown Washington identified as nearby areas. No parking space conveys with the unit; parking may be available for rent within the building.
Key Highlights
- Approximately 839 square feet with one bedroom, one full bath, and a powder room
- Corner residence with floor‑to‑ceiling windows and a private balcony
- Main‑level location provides access without an elevator
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
$13,940
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
2.97%
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%
$278,800
$278.8K
Cap Rate 7%
$199,143
$199.1K
Cap Rate 9%
$154,889
$154.9K
Market Conditions
NOI Build-Up for 839 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
$26.7K $31.80/SF
− Vacancy
−$1.3K −$1.59/SF
EGI
$25.3K $30.21/SF
− OpEx
−$11.4K −$13.59/SF
NOI
$13.9K $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%
$278,800
Cap Rate 7%
$199,143
Cap Rate 9%
$154,889
Alternative Uses
Best Use
Apartment 5plus
$199.1K
$174.3K – $232.3K
NOI $13,940 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$431.6K
$377.6K – $503.5K
NOI $30,209 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21,751
Businesses Nearby
Explore this area
Business Placement
Demographics for 20037, DC
14,945
Population
8,828
Households
1.7
Avg Household Size
29
Median Age
90%
College-Educated
99%
High-School Grad
0.7 sq mi
ZIP Area
21,350
Density / Sq Mi
$98,917
Median Household Income
$69,480
Median Earnings
$2,420
Median Rent
$743,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Main-level corner residence with private outdoor space and full-service condominium amenities.
Where is this residential income property located?
The property is located at 1099 22ND STREET NW Unit 103 Washington, DC.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Approximately 839 square feet with one bedroom, one full bath, and a powder room; Corner residence with floor‑to‑ceiling windows and a private balcony; Main‑level location provides access without an elevator
