Penthouse Residential Income
For Sale
$475,000
117 E STREET SE Unit 302, Washington, DC 20003
Two-bedroom, two-bath condominium with hardwood floors and an open living/dining plan.
Property Size804 SF
Days on Market116
Property Features for 117 E STREET SE Unit 302
General Information
Standard status
Active
Size
804 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,736
Amenities
pet-friendly
wood-burning fireplace
hardwood floors
Building Details
Building Size
804 SF
Year Built
1906
Listing Agency:
Samson Properties
(703) 867-5242
Listed By:
Nicholas Ryan Gashel · License #225244001
(703) 867-5242
Source:
Kwcapitalproperties
Added: May 7
Changed: Aug 28
Last Checked: Aug 29 at 3:10PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This penthouse condominium offers 2 bedrooms and 2 full bathrooms within a bright, open layout. The living and dining areas connect to a kitchen with a large pass-through window, while a wood-burning fireplace and spacious coat closet add functional character. Hardwood floors extend throughout the unit. Each bedroom provides ample closet space, and the primary suite includes its own full bathroom. Eight large windows bring natural light into the residence, with two windows in each bedroom.
The property is located at 117 E STREET SE in Washington, DC, one block from the Capitol South Metro station and near Capitol Hill, Eastern Market, and Navy Yard. The 1906 building is pet-friendly, includes all utilities in the condo fee, and has no rental restrictions.
The property is located at 117 E STREET SE in Washington, DC, one block from the Capitol South Metro station and near Capitol Hill, Eastern Market, and Navy Yard. The 1906 building is pet-friendly, includes all utilities in the condo fee, and has no rental restrictions.
Key Highlights
- 2‑bedroom, 2‑bath penthouse condominium
- Eight large windows provide natural light throughout the unit
- Primary bedroom suite includes a second full bath
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
$13,359
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
2.81%
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%
$267,180
$267.2K
Cap Rate 7%
$190,843
$190.8K
Cap Rate 9%
$148,433
$148.4K
Market Conditions
NOI Build-Up for 804 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
$25.6K $31.80/SF
− Vacancy
−$1.3K −$1.59/SF
EGI
$24.3K $30.21/SF
− OpEx
−$10.9K −$13.59/SF
NOI
$13.4K $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%
$267,180
Cap Rate 7%
$190,843
Cap Rate 9%
$148,433
Alternative Uses
Best Use
Apartment 5plus
$190.8K
$167.0K – $222.7K
NOI $13,359 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$413.6K
$361.9K – $482.5K
NOI $28,949 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 20003, DC
36,501
Population
20,817
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
15,870
Density / Sq Mi
$159,604
Median Household Income
$107,846
Median Earnings
$2,630
Median Rent
$954,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condominium with hardwood floors and an open living/dining plan.
Where is this residential income property located?
The property is located at 117 E STREET SE Unit 302 Washington, DC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath penthouse condominium; Eight large windows provide natural light throughout the unit; Primary bedroom suite includes a second full bath
