Renovated Two-Unit
New
For Sale
$605,000
1268 16TH STREET NE, Washington, DC 20002
Updated duplex with separately metered homes, each offering two bedrooms and two baths.
Property Size1,184 SF
Price / SF$510.98
Days on Market4
Property Features for 1268 16TH STREET NE
General Information
Standard status
Active
Size
1,184 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,511
Building Details
Building Size
1,184 SF
Year Built
1951
Buildings
1
Listing Agency:
Long & Foster Real Estate, Inc.
(410) 371-0581
Listed By:
Andrew L Pariser · License #SP98373795
(410) 371-0581
Source:
Kerishull
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 14 at 12:51PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,184 square feet and was built in 1951. Both residences have been renovated and provide two bedrooms, two bathrooms, separate electrical metering, and individual living spaces. Interior improvements include recessed lighting, wood flooring, granite countertops, and ceramic-tile bathrooms.
The property is located at 1268 16th Street NE in Washington, DC’s Trinidad neighborhood. Restaurants, bars, and coffee shops are located nearby, providing a range of dining and beverage options within the surrounding area. The two-residence configuration supports occupancy of one home while the other is rented, or leasing both units, as described in the property information.
The property is located at 1268 16th Street NE in Washington, DC’s Trinidad neighborhood. Restaurants, bars, and coffee shops are located nearby, providing a range of dining and beverage options within the surrounding area. The two-residence configuration supports occupancy of one home while the other is rented, or leasing both units, as described in the property information.
Key Highlights
- Two‑unit duplex with 1,184 square feet
- Both units offer 2 bedrooms and 2 baths
- Each home is separately metered
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
$22,557
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
3.73%
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%
$451,140
$451.1K
Cap Rate 7%
$322,243
$322.2K
Cap Rate 9%
$250,633
$250.6K
Market Conditions
NOI Build-Up for 1,184 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
$34.1K $28.80/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$32.2K $27.22/SF
− OpEx
−$9.7K −$8.16/SF
NOI
$22.6K $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%
$451,140
Cap Rate 7%
$322,243
Cap Rate 9%
$250,633
Alternative Uses
Best Use
Multifamily LT 5
$322.2K
$282.0K – $376.0K
NOI $22,557 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$288.0K
$252.0K – $336.0K
NOI $20,157 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$611.3K
$534.9K – $713.2K
NOI $42,791 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,452
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with separately metered homes, each offering two bedrooms and two baths.
Where is this duplex located?
The property is located at 1268 16TH STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,184 square feet; Both units offer 2 bedrooms and 2 baths; Each home is separately metered
