Residential Income Property with
For Sale
$615,000
1099 22ND STREET NW Unit 104, Washington, DC 20037
One-bedroom condominium with flexible den space, guest bath, and garage parking in a full-service urban setting.
Property Size1,180 SF
Price / SF$521.19
Days on Market9
Property Features for 1099 22ND STREET NW Unit 104
General Information
Standard status
Active
Size
1,180 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,636
Building Details
Building Size
1,180 SF
Year Built
1985
Listing Agency:
Century 21 Redwood Realty
(703) 399-4132
Listed By:
James S Talbert
(703) 399-4132
Source:
Kwcapitalproperties
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 22 at 11:36AM
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 Century 21 Redwood Realty
Investment Insights
Based on property information with market context.
This residential income property is a one-bedroom condominium with a den, one-and-a-half baths, and approximately 1,180 square feet of living space. The floor plan includes separate living and dining areas, a large bedroom, an additional half bath, and garage parking. Built in 1985, the residence offers room for living, dining, work, and entertaining within a single-level condominium layout.
The property is located at 1099 22nd Street NW, Unit 104, in Washington, DC. Georgetown, Foggy Bottom, Dupont Circle, the World Bank, GW University, Metro access, restaurants, shopping, and parks are identified nearby. GW Metro station is a couple of blocks away, while Trader Joe’s and Whole Foods are within a couple-block walk. DCA airport is also described as just minutes away.
The property is located at 1099 22nd Street NW, Unit 104, in Washington, DC. Georgetown, Foggy Bottom, Dupont Circle, the World Bank, GW University, Metro access, restaurants, shopping, and parks are identified nearby. GW Metro station is a couple of blocks away, while Trader Joe’s and Whole Foods are within a couple-block walk. DCA airport is also described as just minutes away.
Key Highlights
- Approximately 1,180 square feet of living space
- One‑bedroom condominium with den and one‑and‑a‑half baths
- Separate living and dining areas with spacious bedroom
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
$19,606
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
3.19%
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%
$392,120
$392.1K
Cap Rate 7%
$280,086
$280.1K
Cap Rate 9%
$217,844
$217.8K
Market Conditions
NOI Build-Up for 1,180 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
$37.5K $31.80/SF
− Vacancy
−$1.9K −$1.59/SF
EGI
$35.6K $30.21/SF
− OpEx
−$16.0K −$13.59/SF
NOI
$19.6K $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%
$392,120
Cap Rate 7%
$280,086
Cap Rate 9%
$217,844
Alternative Uses
Best Use
Apartment 5plus
$280.1K
$245.1K – $326.8K
NOI $19,606 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$607.0K
$531.1K – $708.1K
NOI $42,487 @ 7.0% cap · market cap 6.91%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with flexible den space, guest bath, and garage parking in a full-service urban setting.
Where is this residential income property located?
The property is located at 1099 22ND STREET NW Unit 104 Washington, DC.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Approximately 1,180 square feet of living space; One‑bedroom condominium with den and one‑and‑a‑half baths; Separate living and dining areas with spacious bedroom
