Four-Unit Property in Trinidad,
For Sale
$930,000
1918 I Street NE, Washington, DC 20002
Four-unit property in Trinidad, Washington DC with income potential.
Property Size2,368 SF
Price / SF$392.74
Days on Market1043
Property Features for 1918 I Street NE
General Information
Standard status
Active
Size
2,368 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1942
Listing Agency:
Taylor Properties
(240) 423-0909
Listed By:
Ahmad Iravani · License #SP98378404
Source:
Deepcreeklake
Added: Oct 23, 2023
Changed: Aug 28
Last Checked: Aug 29 at 10:24AM
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 Taylor Properties
Investment Insights
Based on property information with market context.
Located in Trinidad, Washington DC, this four-unit property at 1918 I St NE features hardwood floors, central AC, and heating in each unit. The property is situated in Northeast Washington, near the US National Arboretum and the H Street Corridor's dining options. Grocery options, transportation, and street parking are conveniently accessible. The property is currently generating income with two units leased month-to-month at $2600. Market rents are estimated between $1550-$1650 per month. The property also presents reconfiguration options.
Key Highlights
- Four‑unit property in the desirable Trinidad neighborhood of Washington DC.
- Income‑generating property with two units currently leased.
- Potential for increased rental income with rents below market value.
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
$45,113
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
4.85%
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%
$902,260
$902.3K
Cap Rate 7%
$644,471
$644.5K
Cap Rate 9%
$501,256
$501.3K
Market Conditions
NOI Build-Up for 2,368 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
$68.2K $28.80/SF
− Vacancy
−$3.8K −$1.58/SF
EGI
$64.4K $27.22/SF
− OpEx
−$19.3K −$8.16/SF
NOI
$45.1K $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%
$902,260
Cap Rate 7%
$644,471
Cap Rate 9%
$501,256
Alternative Uses
Best Use
Multifamily LT 5
$644.5K
$563.9K – $751.9K
NOI $45,113 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$575.9K
$503.9K – $671.9K
NOI $40,314 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,582 @ 7.0% cap · market cap 9.20%
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property in Trinidad, Washington DC with income potential.
Where is this quadplex located?
The property is located at 1918 I Street NE Washington, DC.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Four‑unit property in the desirable Trinidad neighborhood of Washington DC.; Income‑generating property with two units currently leased.; Potential for increased rental income with rents below market value.
