Residential Income Property with Rooftop
For Sale
$614,999
1242 MEIGS PLACE NE Unit 4, Washington, DC 20002
Two-level condominium with flexible living space, elevated finishes, private terrace, and expansive rooftop entertaining area.
Property Size1,405 SF
Days on Market178
Property Features for 1242 MEIGS PLACE NE Unit 4
General Information
Standard status
Active
Size
1,405 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Trinidad
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,040
Amenities
rooftop deck
private terrace
Building Details
Building Size
1,405 SF
Year Built
2024
Listing Agency:
Samson Properties
Listed By:
John M Burgess · License #BR98368103
(202) 369-1355
Source:
Kwcapitalproperties
Added: May 7
Changed: Oct 31
Last Checked: Oct 30 at 7:39PM
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
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Investment Insights
Based on property information with market context.
Built in 2024, this two-level condominium combines an open-concept interior with flexible accommodations and contemporary finishes. The residence includes three bedrooms and three full baths, along with a kitchen appointed with quartz countertops, stainless steel appliances, custom lighting, and two-tone cabinetry. A movable wall allows the main-level third bedroom to serve as a guest suite, office, gym, or studio, while the upper level contains two bedroom suites. The primary suite includes a spa-inspired bath, and the second bedroom opens to a private terrace.
Outdoor space is a central feature, with both the private terrace and an expansive rooftop deck offering city views and room for dining, entertaining, gardening, or relaxation. The property is in Trinidad with access to Union Market, the H Street Corridor, Ivy City, Capitol Hill, and area dining, shopping, entertainment, and transportation options.
Outdoor space is a central feature, with both the private terrace and an expansive rooftop deck offering city views and room for dining, entertaining, gardening, or relaxation. The property is in Trinidad with access to Union Market, the H Street Corridor, Ivy City, Capitol Hill, and area dining, shopping, entertainment, and transportation options.
Key Highlights
- 2024‑built two‑level condominium
- Three bedrooms and three full baths
- Expansive rooftop deck with city views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,920
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,400
$478.4K
Cap Rate 7%
$341,714
$341.7K
Cap Rate 9%
$265,778
$265.8K
Market Conditions
NOI Build-Up for 1,405 SF
Gross rent
$46.4K $33.00/SF
− Vacancy
−$2.9K −$2.05/SF
EGI
$43.5K $30.95/SF
− OpEx
−$19.6K −$13.93/SF
NOI
$23.9K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,400
Cap Rate 7%
$341,714
Cap Rate 9%
$265,778
Alternative Uses
Best Use
Apartment 5plus
$341.7K
$299.0K – $398.7K
NOI $23,920 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$725.4K
$634.7K – $846.3K
NOI $50,778 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,149
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level condominium with flexible living space, elevated finishes, private terrace, and expansive rooftop entertaining area.
Where is this residential income property located?
The property is located at 1242 MEIGS PLACE NE Unit 4 Washington, DC.
What is the asking price?
The asking price for this property is $614,999.
What are key features of this property?
This property features: 2024‑built two‑level condominium; Three bedrooms and three full baths; Expansive rooftop deck with city views
