Renovated 2-Unit
For Sale
$850,000
1247 MOUNT OLIVET Road NE, Washington, DC 20002
MULTI_FAMILY - WASHINGTON, DC
Property Size3,341 SF
Lot Size0.07 Acres
Price / SF$254.41
Days on Market16
Property Features for 1247 MOUNT OLIVET Road NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Appliances
Washer, Dryer, Stove, Refrigerator, Dishwasher, Disposal, Microwave
Subdivision
TRINIDAD
Elementary school
WHEATLEY EDUCATION CAMPUS
Middle school
WHEATLEY EDUCATION CAMPUS
High school
DUNBAR SENIOR
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
3,341 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
7734
Utilities
Heating system
Other (Heating)
Cooling system
Central Air
Amenities
in-unit laundry
unfinished basement
Building Details
Year built
1943
Number of units
2
Building materials
Brick
Listing Agency:
EXP Realty, LLC
(833) 335-7433
Listed By:
Christopher Craddock · License #0225207192
(703) 688-2635
Added: Aug 14
Last Checked: Aug 29 at 2:06AM
MLS# DCDC2276550
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2-unit duplex contains 3,341 square feet and was built in 1943. Each residence offers two bedrooms, two bathrooms, a renovated kitchen, updated bathrooms, living space, natural light, and in-unit laundry. Separate newer HVAC systems, gas meters, and electric meters serve the units independently. The property also includes an unfinished basement, brick construction, central air, and a roof replaced approximately seven years ago. Both residences are currently vacant, allowing the next owner to occupy one unit, lease the other, or establish tenancy in both.
The property is located at 1247 Mount Olivet Road NE in Washington, DC 20002. Nearby destinations identified in the property information include Union Market, Ivy City, the H Street Corridor, NoMa, Gallaudet University, Capitol Hill, and downtown Washington, DC. The lot measures 0.0655 acres, and the property includes washer, dryer, stove, refrigerator, dishwasher, disposal, and microwave appliances.
The property is located at 1247 Mount Olivet Road NE in Washington, DC 20002. Nearby destinations identified in the property information include Union Market, Ivy City, the H Street Corridor, NoMa, Gallaudet University, Capitol Hill, and downtown Washington, DC. The lot measures 0.0655 acres, and the property includes washer, dryer, stove, refrigerator, dishwasher, disposal, and microwave appliances.
Key Highlights
- 2‑unit duplex with two 2‑bedroom, 2‑bath residences
- 3,341 square feet on a 0.0655‑acre lot
- Both units are currently vacant
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
$63,650
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
7.49%
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%
$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
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
$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 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%
$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 7.49%
Second Best
Apartment 5plus
$812.6K
$711.0K – $948.0K
NOI $56,880 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,747 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Two vacant residences offer updated interiors and separate utilities for flexible occupancy or leasing.
Where is this duplex located?
The property is located at 1247 MOUNT OLIVET Road NE Washington, DC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2‑unit duplex with two 2‑bedroom, 2‑bath residences; 3,341 square feet on a 0.0655‑acre lot; Both units are currently vacant
