Penthouse Residential Income
New
For Sale
$650,000
1263 OWEN PLACE NE Unit 2, Washington, DC 20002
Three-bedroom penthouse with a private rooftop deck, designer kitchen, and dedicated parking.
Property Size1,155 SF
Days on Market6
Property Features for 1263 OWEN PLACE NE Unit 2
General Information
Standard status
Active
Size
1,155 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Parking per Unit
1
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,120
Amenities
private balcony
private rooftop deck
modern kitchen with Bosch and KitchenAid appliances
quartz countertops
curbless showers
custom vanities
soundproofing
fire protection
Building Details
Building Size
1,155 SF
Year Built
1927
Listing Agency:
CENTURY 21 New Millennium
Listed By:
Stephen Gabauer · License #SP200205169
(202) 400-1041
Source:
Kwcapitalproperties
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 14 at 8:57AM
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 CENTURY 21 New Millennium
Investment Insights
Based on property information with market context.
This three-bedroom, three-bath penthouse at 1263 Owen Place NE Unit 2 combines a private residential layout with features relevant to both occupants and investors. The main level includes elevated ceilings, a living room balcony, and a contemporary kitchen equipped with Bosch and KitchenAid appliances, quartz countertops, and a deep stainless-steel sink. Each bedroom has its own en suite bathroom with curbless showers and custom vanities. One parking space conveys with the property, and the residence includes enhanced sound and fire protection through Roxul rock wool insulation, double drywall, and Green Glue between units.
A private rooftop deck provides panoramic views of the U.S. Capitol, National Cathedral, FedEx Field, and National Harbor. The property is positioned near Union Market, Ivy City, and the H Street corridor. Its pet- and investor-friendly policy supports a range of residential ownership and rental strategies.
A private rooftop deck provides panoramic views of the U.S. Capitol, National Cathedral, FedEx Field, and National Harbor. The property is positioned near Union Market, Ivy City, and the H Street corridor. Its pet- and investor-friendly policy supports a range of residential ownership and rental strategies.
Key Highlights
- Three‑bedroom, three‑bath penthouse at 1263 Owen Place NE Unit 2
- Private rooftop deck with views of the U.S. Capitol, National Cathedral, FedEx Field, and National Harbor
- Bosch and KitchenAid appliances, quartz countertops, and deep stainless‑steel sink
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
$19,664
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
3.03%
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%
$393,280
$393.3K
Cap Rate 7%
$280,914
$280.9K
Cap Rate 9%
$218,489
$218.5K
Market Conditions
NOI Build-Up for 1,155 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
$38.1K $33.00/SF
− Vacancy
−$2.4K −$2.05/SF
EGI
$35.8K $30.95/SF
− OpEx
−$16.1K −$13.93/SF
NOI
$19.7K $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%
$393,280
Cap Rate 7%
$280,914
Cap Rate 9%
$218,489
Alternative Uses
Best Use
Apartment 5plus
$280.9K
$245.8K – $327.7K
NOI $19,664 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$596.3K
$521.8K – $695.7K
NOI $41,743 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,066
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 - Three-bedroom penthouse with a private rooftop deck, designer kitchen, and dedicated parking.
Where is this residential income property located?
The property is located at 1263 OWEN PLACE NE Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑bedroom, three‑bath penthouse at 1263 Owen Place NE Unit 2; Private rooftop deck with views of the U.S. Capitol, National Cathedral, FedEx Field, and National Harbor; Bosch and KitchenAid appliances, quartz countertops, and deep stainless‑steel sink
