Duplex with Rear
For Sale
$498,999
1280 16TH ST NE, Washington, DC 20002
Two-unit property with separately metered gas and electric service.
Property Size1,184 SF
Price / SF$421.45
Days on Market17
Property Features for 1280 16TH ST NE
General Information
Standard status
Active
Size
1,184 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
RF-1
Property Condition
Severity
Major Repairs Needed
Evidence
Fully gutted
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
(202) 270-6368
Listed By:
Peter D Grimm · License #SP98366089
(202) 270-6368
Source:
Hostetterrealty
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 28 at 4:22PM
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 Berkshire Hathaway HomeServices PenFed Realty
Investment Insights
Based on property information with market context.
This 1,184 SF duplex, built in 1951, contains two separate residences on a deep lot with rear access and off-street parking for 2–4 vehicles. The upper residence is tenant-occupied and features one bedroom, one bathroom, an updated kitchen, and an updated bath. The lower residence has been fully gutted, providing an unfinished interior for a future renovation or reconfiguration.
The property is zoned RF-1, and gas and electric utilities are separately metered for each unit. Its Washington, DC location at 1280 16th St NE places it near Union Market, Ivy City, H Street, Capitol Hill, and the U.S. National Arboretum. The property is offered for sale in as-is condition.
The property is zoned RF-1, and gas and electric utilities are separately metered for each unit. Its Washington, DC location at 1280 16th St NE places it near Union Market, Ivy City, H Street, Capitol Hill, and the U.S. National Arboretum. The property is offered for sale in as-is condition.
Key Highlights
- 1,184 SF duplex on a deep lot with rear access
- Off‑street parking for 2–4 vehicles
- RF‑1 zoning
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
4.52%
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 4.52%
Second Best
Apartment 5plus
$288.0K
$252.0K – $336.0K
NOI $20,157 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$611.3K
$534.9K – $713.2K
NOI $42,791 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separately metered gas and electric service.
Where is this duplex located?
The property is located at 1280 16TH ST NE Washington, DC.
What is the asking price?
The asking price for this property is $498,999.
What are key features of this property?
This property features: 1,184 SF duplex on a deep lot with rear access; Off‑street parking for 2–4 vehicles; RF‑1 zoning
