Corner Residential Income
For Sale
$428,000
1101 3RD STREET SW Unit 306, Washington, DC 20024
One-bedroom unit with floor-to-ceiling windows, an open layout, and dedicated basement storage.
Property Size874 SF
Days on Market328
Property Features for 1101 3RD STREET SW Unit 306
General Information
Standard status
Active
Size
874 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,034
Amenities
fitness center
party room
private outdoor courtyard
additional storage unit
Building Details
Building Size
874 SF
Year Built
1960
Listing Agency:
Taylor Properties
(240) 548-7765
Listed By:
Nanette D Evans
(240) 548-7765
Source:
Kwcapitalproperties
Added: Sep 30, 2025
Changed: Aug 21
Last Checked: Aug 22 at 11:32AM
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 Taylor Properties
Investment Insights
Based on property information with market context.
This 1-bedroom, 1-bathroom corner unit offers an open interior arrangement with floor-to-ceiling windows and city views. The kitchen includes wood cabinetry, Silestone countertops, black stainless-steel gas appliances, and a built-in washer and dryer. A separate storage unit is located on the basement level. Built in 1960, the building permits pets subject to restrictions and includes a fitness center, party room, and private outdoor courtyard.
The property is within walking distance of the SW Waterfront Metro Station, Safeway, and CVS. The National Mall and Historic Wharf are a few blocks away, with access to dining, music venues, retail, Arena Stage, Nationals Park, and Audi Field.
The property is within walking distance of the SW Waterfront Metro Station, Safeway, and CVS. The National Mall and Historic Wharf are a few blocks away, with access to dining, music venues, retail, Arena Stage, Nationals Park, and Audi Field.
Key Highlights
- 1‑bedroom, 1‑bathroom corner unit with floor‑to‑ceiling windows
- Open layout with city views and abundant natural light
- Kitchen with Silestone countertops and black stainless‑steel gas appliances
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
$14,522
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
3.39%
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%
$290,440
$290.4K
Cap Rate 7%
$207,457
$207.5K
Cap Rate 9%
$161,356
$161.4K
Market Conditions
NOI Build-Up for 874 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
$27.8K $31.80/SF
− Vacancy
−$1.4K −$1.59/SF
EGI
$26.4K $30.21/SF
− OpEx
−$11.9K −$13.59/SF
NOI
$14.5K $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%
$290,440
Cap Rate 7%
$207,457
Cap Rate 9%
$161,356
Alternative Uses
Best Use
Apartment 5plus
$207.5K
$181.5K – $242.0K
NOI $14,522 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$449.6K
$393.4K – $524.5K
NOI $31,469 @ 7.0% cap · market cap 7.35%
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
3,009
Businesses Nearby
Explore this area
Business Placement
Demographics for 20024, DC
15,952
Population
11,560
Households
1.4
Avg Household Size
37
Median Age
70%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
7,251
Density / Sq Mi
$102,623
Median Household Income
$94,419
Median Earnings
$2,121
Median Rent
$497,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom unit with floor-to-ceiling windows, an open layout, and dedicated basement storage.
Where is this residential income property located?
The property is located at 1101 3RD STREET SW Unit 306 Washington, DC.
What is the asking price?
The asking price for this property is $428,000.
What are key features of this property?
This property features: 1‑bedroom, 1‑bathroom corner unit with floor‑to‑ceiling windows; Open layout with city views and abundant natural light; Kitchen with Silestone countertops and black stainless‑steel gas appliances
