Duplex-Style Residential Income
For Sale
$699,000
1223 TALBERT STREET SE Unit 2, Washington, DC 20020
New construction with a private yard, deck, modern finishes, and assigned parking.
Property Size1,797 SF
Price / SF$388.98
Days on Market34
Property Features for 1223 TALBERT STREET SE Unit 2
General Information
Standard status
Active
Size
1,797 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,594
Amenities
hardwood flooring
stainless steel appliances
quartz countertops
vaulted ceilings
frameless glass showers
private yard
private deck
Building Details
Building Size
1,797 SF
Listing Agency:
RE/MAX Allegiance
(703) 403-2022
Listed By:
Michael Burns · License #0225 064462
(703) 403-2022
Source:
Kerishull
Added: Jul 13
Changed: Aug 14
Last Checked: Aug 14 at 6:13AM
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 RE/MAX Allegiance
Investment Insights
Based on property information with market context.
Unit 2 is a brand-new, two-level condominium within a four-unit residential building. The 1797-square-foot layout includes an open living and dining area, wide-plank hardwood floors, oversized windows, recessed lighting, and an interior staircase connecting both levels. The kitchen combines stainless steel appliances, shaker cabinetry, a tile backsplash, quartz counters, and a statement pendant fixture. Bedrooms feature vaulted ceilings, while the bathrooms include frameless glass showers, copper-toned fixtures, and quartz vanities.
Outdoor features include a fenced private yard area with fresh sod and room for future garden plots, plus a furnished private deck for seating and dining. Two assigned parking spaces are included. The property is a short walk from Metro access and within about a mile and a half of Navy Yard, Nationals Park, and Audi Field. Downtown DC, neighborhood coffee shops, cafes, and restaurants are also nearby.
Outdoor features include a fenced private yard area with fresh sod and room for future garden plots, plus a furnished private deck for seating and dining. Two assigned parking spaces are included. The property is a short walk from Metro access and within about a mile and a half of Navy Yard, Nationals Park, and Audi Field. Downtown DC, neighborhood coffee shops, cafes, and restaurants are also nearby.
Key Highlights
- Brand‑new 1797‑square‑foot duplex‑style condo in a four‑unit residential building
- Two‑level interior with open living and dining space, hardwood floors, vaulted ceilings, and oversized windows
- Private fenced yard area with fresh sod and potential for future garden plots
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
$28,368
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
4.06%
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%
$567,360
$567.4K
Cap Rate 7%
$405,257
$405.3K
Cap Rate 9%
$315,200
$315.2K
Market Conditions
NOI Build-Up for 1,797 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
$55.0K $30.60/SF
− Vacancy
−$3.4K −$1.90/SF
EGI
$51.6K $28.70/SF
− OpEx
−$23.2K −$12.92/SF
NOI
$28.4K $15.79/SF
Area
ZIP 20020
Vacancy
6.20%
Lease Rate
$30.60 /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%
$567,360
Cap Rate 7%
$405,257
Cap Rate 9%
$315,200
Alternative Uses
Best Use
Apartment 5plus
$405.3K
$354.6K – $472.8K
NOI $28,368 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$927.8K
$811.8K – $1.08M
NOI $64,946 @ 7.0% cap · market cap 9.29%
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
1,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 20020, DC
51,616
Population
26,376
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
89%
High-School Grad
4.6 sq mi
ZIP Area
11,221
Density / Sq Mi
$53,015
Median Household Income
$48,752
Median Earnings
$1,317
Median Rent
$442,500
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 - New construction with a private yard, deck, modern finishes, and assigned parking.
Where is this residential income property located?
The property is located at 1223 TALBERT STREET SE Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Brand‑new 1797‑square‑foot duplex‑style condo in a four‑unit residential building; Two‑level interior with open living and dining space, hardwood floors, vaulted ceilings, and oversized windows; Private fenced yard area with fresh sod and potential for future garden plots
