One-Bedroom Den Condo in
For Sale
$175,000
1251 MEIGS PLACE NE Unit 1, Washington, DC 20002
Bright one-bedroom plus den condo in a Federal-style 4-plex with updated windows, in-unit washer/dryer, and a back patio.
Property Size674 SF
Days on Market112
Property Features for 1251 MEIGS PLACE NE Unit 1
General Information
Standard status
Active
Size
674 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR+Den/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,639
Amenities
in-unit washer/dryer
back patio
Building Details
Building Size
674 SF
Year Built
1940
Construction
Federal Style
Listing Agency:
Realty ONE Group Capital
Listed By:
Halah Alwazir
(703) 896-2447
Source:
Kwcapitalproperties
Added: May 27
Changed: Sep 10
Last Checked: Sep 14 at 9:54AM
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 Realty ONE Group Capital
Investment Insights
Based on property information with market context.
Spacious and bright one-bedroom plus den, one-bath condo set within a Federal-style 4-plex built in 1940. Unit 1 features new LVP floors throughout, updated double-hung windows, and a large living/dining area designed for entertaining. The galley kitchen includes GE stainless steel appliances, a built-in microwave oven, a gas range, white Shaker-style cabinetry, granite countertops, and a breakfast nook.
The condo offers in-unit washer/dryer, recently painted interior spaces, and ample closet space throughout the living room, den, and rear bedroom. The building includes an inviting back patio that can be used for outdoor gatherings.
Located in Trinidad, the property is walkable to Union Market and H Street. It is also positioned near Gallaudet University, NOMA (Red Line) Metro trains, and city bus lines, with nearby access to restaurants and grocery options including ALDI Super Market. Walk Score is listed as 70%.
The condo offers in-unit washer/dryer, recently painted interior spaces, and ample closet space throughout the living room, den, and rear bedroom. The building includes an inviting back patio that can be used for outdoor gatherings.
Located in Trinidad, the property is walkable to Union Market and H Street. It is also positioned near Gallaudet University, NOMA (Red Line) Metro trains, and city bus lines, with nearby access to restaurants and grocery options including ALDI Super Market. Walk Score is listed as 70%.
Key Highlights
- Federal‑style 4‑plex built in 1940
- One‑bedroom plus den, one‑bath condo with new LVP floors
- Updated double‑hung windows throughout
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
$11,475
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
6.56%
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%
$229,500
$229.5K
Cap Rate 7%
$163,929
$163.9K
Cap Rate 9%
$127,500
$127.5K
Market Conditions
NOI Build-Up for 674 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
$22.2K $33.00/SF
− Vacancy
−$1.4K −$2.05/SF
EGI
$20.9K $30.95/SF
− OpEx
−$9.4K −$13.93/SF
NOI
$11.5K $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 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%
$229,500
Cap Rate 7%
$163,929
Cap Rate 9%
$127,500
Alternative Uses
Best Use
Apartment 5plus
$163.9K
$143.4K – $191.3K
NOI $11,475 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$348.0K
$304.5K – $406.0K
NOI $24,359 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,149
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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Frequently Asked Questions
What type of property is this?
Residential income property - Bright one-bedroom plus den condo in a Federal-style 4-plex with updated windows, in-unit washer/dryer, and a back patio.
Where is this residential income property located?
The property is located at 1251 MEIGS PLACE NE Unit 1 Washington, DC.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Federal‑style 4‑plex built in 1940; One‑bedroom plus den, one‑bath condo with new LVP floors; Updated double‑hung windows throughout
