Turnkey Investment Near H
For Sale
$1,400,000
1109 I Street NE, Washington, DC 20002
MULTI_FAMILY - Victorian - WASHINGTON, DC
Property Size2,348 SF
Lot Size0.03 Acres
Price / SF$596.25
Days on Market143
Property Features for 1109 I Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
Off Street
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
2,348 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
9866
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1933
Number of units
2
Building materials
Brick
Architectural style
Victorian
Listing Agency:
Spring Hill Real Estate, LLC.
(703) 891-4514
Listed By:
Matthew Lyall Beers · License #SP200202750
(443) 466-8649
Added: Mar 26
Changed: Jul 17
Last Checked: Aug 15 at 6:06AM
MLS# DCDC2252450
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located steps from the H Street corridor, this renovated five-bedroom, three-and-a-half-bath home offers a turnkey investment opportunity. The property spans nearly 2,400 square feet and features high ceilings and finishes. The main level includes an open layout with exposed brick, refinished red oak hardwood floors, built-in speakers, and a custom kitchen. The skylit upper level contains three bedrooms with Elfa closet systems and two full baths finished in Avalon Marble tile. The lower level features a separate two-bedroom, one-bath unit with a Certificate of Occupancy. Both units are leased through late 2026. The lower-level unit has high ceilings, modern finishes, and windows in every room. Outdoor amenities include a flagstone patio in the front and a hardscaped rear yard with pavers. Additional features include a large storage shed, secure parking for two vehicles, and a dedicated EV charging station. The property has separate utility meters.
Key Highlights
- Turnkey investment property with immediate and reliable cash flow from two leased units through late 2026.
- Prime location steps from the H Street corridor.
- Fully renovated and meticulously maintained five‑bedroom home with high‑end finishes and timeless design.
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
$44,732
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
3.20%
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%
$894,640
$894.6K
Cap Rate 7%
$639,029
$639.0K
Cap Rate 9%
$497,022
$497.0K
Market Conditions
NOI Build-Up for 2,348 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
$67.6K $28.80/SF
− Vacancy
−$3.7K −$1.58/SF
EGI
$63.9K $27.22/SF
− OpEx
−$19.2K −$8.16/SF
NOI
$44.7K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$894,640
Cap Rate 7%
$639,029
Cap Rate 9%
$497,022
Alternative Uses
Best Use
Multifamily LT 5
$639.0K
$559.2K – $745.5K
NOI $44,732 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$571.1K
$499.7K – $666.2K
NOI $39,974 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,859 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,588
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated five-bedroom home with income-generating units in sought-after neighborhood.
Where is this duplex located?
The property is located at 1109 I Street NE Washington, DC.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Turnkey investment property with immediate and reliable cash flow from two leased units through late 2026.; Prime location steps from the H Street corridor.; Fully renovated and meticulously maintained five‑bedroom home with high‑end finishes and timeless design.
