Updated Duplex in
For Sale
$499,900
1946 I St NE, Washington, DC 20002
Updated 2-unit townhouse in vibrant Trinidad community, Washington, D.C.
Property Size1,400 SF
Lot Size0.03 Acres
Days on Market173
Property Features for 1946 I St NE
General Information
Standard status
Active
Size
1,400 SF
Lot size
0.03 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$28,843
Building Details
Building Size
1,400 SF
Year Built
1942
Units
2
Listing Agency:
Apex Home Realty
(703) 675-6100
Listed By:
Samer Y. Makhlouf · License #BR40000070
(703) 675-6100
Source:
Elliman
Added: Mar 10
Changed: Aug 23
Last Checked: Aug 26 at 12:25PM
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 Apex Home Realty
Investment Insights
Based on property information with market context.
Located in Washington, D.C.'s Trinidad community, this updated 2-unit interior townhouse presents an investment opportunity. Each unit features modern finishes and living spaces. The property is located in close proximity to the U.S. National Arboretum, H Street Corridor, and Union Market, providing access to dining, shopping, and entertainment. This multi-unit property is located in Northeast D.C.
Key Highlights
- Prime location in the desirable Trinidad neighborhood of Washington, D.C.
- Turnkey, meticulously maintained 2‑unit interior townhouse.
- Excellent investment opportunity with income‑producing potential.
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
$26,672
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
5.34%
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%
$533,440
$533.4K
Cap Rate 7%
$381,029
$381.0K
Cap Rate 9%
$296,356
$296.4K
Market Conditions
NOI Build-Up for 1,400 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
$40.3K $28.80/SF
− Vacancy
−$2.2K −$1.58/SF
EGI
$38.1K $27.22/SF
− OpEx
−$11.4K −$8.16/SF
NOI
$26.7K $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%
$533,440
Cap Rate 7%
$381,029
Cap Rate 9%
$296,356
Alternative Uses
Best Use
Multifamily LT 5
$381.0K
$333.4K – $444.5K
NOI $26,672 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$340.5K
$297.9K – $397.3K
NOI $23,835 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$722.8K
$632.5K – $843.3K
NOI $50,598 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,174
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated 2-unit townhouse in vibrant Trinidad community, Washington, D.C.
Where is this duplex located?
The property is located at 1946 I St NE Washington, DC.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Prime location in the desirable Trinidad neighborhood of Washington, D.C.; Turnkey, meticulously maintained 2‑unit interior townhouse.; Excellent investment opportunity with income‑producing potential.
