Residential Income Property with
For Sale
$275,000
1101 3RD STREET SW Unit 411, Washington, DC 20024
One-bedroom condominium with updated flooring, stainless steel appliances, and a walk-in closet.
Property Size523 SF
Days on Market182
Property Features for 1101 3RD STREET SW Unit 411
General Information
Standard status
Active
Size
523 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
$2,508
Amenities
concierge
fitness center
party room
landscaped courtyard
extra storage
bike room
Building Details
Building Size
523 SF
Year Built
1960
Listing Agency:
Compass
Listed By:
Trent D Heminger · License #SP102135
(202) 210-6448
Source:
Kwcapitalproperties
Added: Mar 5
Changed: Aug 29
Last Checked: Sep 1 at 10:27PM
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 Compass
Investment Insights
Based on property information with market context.
Unit 411 is a one-bedroom, one-bath condominium in the I.M. Pei-designed Waterfront Tower, built in 1960. The residence has an open layout, oversized windows, updated living-area flooring, and a kitchen equipped with stainless steel appliances. The bedroom includes a walk-in closet with custom built-in organization, while additional storage and access to a bike room add practical utility.
Building amenities include concierge service, a fitness center, a party room, and a landscaped private courtyard. The property is located at 1101 3rd Street SW in Washington, DC, near the Waterfront Metro and within blocks of dining, shopping, and entertainment at The Wharf.
Building amenities include concierge service, a fitness center, a party room, and a landscaped private courtyard. The property is located at 1101 3rd Street SW in Washington, DC, near the Waterfront Metro and within blocks of dining, shopping, and entertainment at The Wharf.
Key Highlights
- One‑bedroom, one‑bath condominium in the I.M. Pei‑designed Waterfront Tower
- Built in 1960 with oversized windows and an open floor plan
- Kitchen includes stainless steel appliances; living area has updated flooring
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
$8,690
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
3.16%
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%
$173,800
$173.8K
Cap Rate 7%
$124,143
$124.1K
Cap Rate 9%
$96,556
$96.6K
Market Conditions
NOI Build-Up for 523 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
$16.6K $31.80/SF
− Vacancy
−$832 −$1.59/SF
EGI
$15.8K $30.21/SF
− OpEx
−$7.1K −$13.59/SF
NOI
$8.7K $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%
$173,800
Cap Rate 7%
$124,143
Cap Rate 9%
$96,556
Alternative Uses
Best Use
Apartment 5plus
$124.1K
$108.6K – $144.8K
NOI $8,690 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$269.0K
$235.4K – $313.9K
NOI $18,831 @ 7.0% cap · market cap 6.85%
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
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with updated flooring, stainless steel appliances, and a walk-in closet.
Where is this residential income property located?
The property is located at 1101 3RD STREET SW Unit 411 Washington, DC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath condominium in the I.M. Pei‑designed Waterfront Tower; Built in 1960 with oversized windows and an open floor plan; Kitchen includes stainless steel appliances; living area has updated flooring
