Renovated Two-Unit
For Sale
$800,000
1247 MOUNT OLIVET Rd NE, Washington, DC 20002
Vacant residences feature modern interiors, private laundry, and independent HVAC systems.
Property Size3,341 SF
Days on Market67
Property Features for 1247 MOUNT OLIVET Rd NE
General Information
Standard status
Active
Size
3,341 SF
Total Parking Spaces
2
Property subtype
Investment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,734
Amenities
in-unit laundry
unfinished basement
rear overhead door
Building Details
Building Size
3,341 SF
Year Built
1943
Buildings
1
Units
2
Listing Agency:
eXp Realty
Listed By:
Christopher Craddock · License #0225207192
(703) 688-2635
Source:
Elliman
Added: Aug 5
Changed: Sep 29
Last Checked: Oct 9 at 11:58PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This renovated duplex contains two vacant residences, each arranged with two bedrooms, two bathrooms, a contemporary kitchen, refreshed bath areas, generous living space, and in-unit laundry. Separate newer HVAC systems serve the residences independently, while individual gas and electric meters support straightforward management. An unfinished basement adds storage, and a rear overhead door provides access to a two-car off-street parking pad. The roof was replaced approximately seven years ago.
The property is located at 1247 Mount Olivet Rd NE in Washington, DC, near Union Market, Ivy City, the H Street Corridor, NoMa, Gallaudet University, Capitol Hill, and downtown Washington. Walk Score is 78, Transit Score is 72, and Bike Score is 97. Built in 1943, the property offers a flexible setup for an owner-occupant or an operator leasing both residences.
The property is located at 1247 Mount Olivet Rd NE in Washington, DC, near Union Market, Ivy City, the H Street Corridor, NoMa, Gallaudet University, Capitol Hill, and downtown Washington. Walk Score is 78, Transit Score is 72, and Bike Score is 97. Built in 1943, the property offers a flexible setup for an owner-occupant or an operator leasing both residences.
Key Highlights
- Two vacant 2‑bedroom, 2‑bath residences
- Renovated kitchens, bathrooms, living areas, and in‑unit laundry
- Separate newer HVAC systems and individual gas and electric meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,650
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,273,000
$1.3M
Cap Rate 7%
$909,286
$909.3K
Cap Rate 9%
$707,222
$707.2K
Market Conditions
NOI Build-Up for 3,341 SF
Gross rent
$96.2K $28.80/SF
− Vacancy
−$5.3K −$1.58/SF
EGI
$90.9K $27.22/SF
− OpEx
−$27.3K −$8.16/SF
NOI
$63.7K $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 Rate 5%
$1,273,000
Cap Rate 7%
$909,286
Cap Rate 9%
$707,222
Alternative Uses
Best Use
Multifamily LT 5
$909.3K
$795.6K – $1.06M
NOI $63,650 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$812.6K
$711.0K – $948.0K
NOI $56,880 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,747 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,385
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant residences feature modern interiors, private laundry, and independent HVAC systems.
Where is this duplex located?
The property is located at 1247 MOUNT OLIVET Rd NE Washington, DC.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two vacant 2‑bedroom, 2‑bath residences; Renovated kitchens, bathrooms, living areas, and in‑unit laundry; Separate newer HVAC systems and individual gas and electric meters
