Updated Residential Income
For Sale
$224,900
1308 21ST STREET NW Unit B1, Washington, DC 20036
Unit B1 pairs modern interior updates with shared storage and nearby laundry.
Property Size508 SF
Days on Market109
Property Features for 1308 21ST STREET NW Unit B1
General Information
Standard status
Active
Size
508 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,936
Amenities
stainless steel appliances
wine cooler
walk-in shower
custom walk-in closet
shared storage
washer and dryer
Building Details
Building Size
508 SF
Year Built
1925
Listing Agency:
BPG Real Estate
(571) 271-2076
Listed By:
William Alexander York · License #SP40002238
(571) 271-2076
Source:
Kwcapitalproperties
Added: May 7
Changed: Aug 23
Last Checked: Aug 23 at 9:10AM
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 BPG Real Estate
Investment Insights
Based on property information with market context.
Unit B1 is a residential income property in a 1925 building with a series of completed interior improvements. The kitchen has stainless steel appliances and a wine cooler, while the full bathroom has been renovated with a walk-in shower. A custom walk-in closet provides dedicated organization space, and shared storage is available within the property. A washer and dryer are located just steps from the unit.
The electrical system has undergone a full overhaul, including installation of a new breaker panel and updates to outlets, switches, and dimmers. The property is at 1308 21st Street NW in Washington, DC, near Dupont Circle, local dining, cafes, nightlife, and the Dupont Circle Metro Station. Georgetown, Logan Circle, and downtown DC are also within walking distance.
The electrical system has undergone a full overhaul, including installation of a new breaker panel and updates to outlets, switches, and dimmers. The property is at 1308 21st Street NW in Washington, DC, near Dupont Circle, local dining, cafes, nightlife, and the Dupont Circle Metro Station. Georgetown, Logan Circle, and downtown DC are also within walking distance.
Key Highlights
- Updated kitchen with stainless steel appliances and wine cooler
- Renovated full bathroom with walk‑in shower
- Custom walk‑in closet for additional organization
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
$8,441
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
3.75%
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%
$168,820
$168.8K
Cap Rate 7%
$120,586
$120.6K
Cap Rate 9%
$93,789
$93.8K
Market Conditions
NOI Build-Up for 508 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
$16.2K $31.80/SF
− Vacancy
−$808 −$1.59/SF
EGI
$15.3K $30.21/SF
− OpEx
−$6.9K −$13.59/SF
NOI
$8.4K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /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%
$168,820
Cap Rate 7%
$120,586
Cap Rate 9%
$93,789
Alternative Uses
Best Use
Apartment 5plus
$120.6K
$105.5K – $140.7K
NOI $8,441 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.3K
$228.6K – $304.9K
NOI $18,291 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
22,498
Businesses Nearby
Explore this area
Business Placement
Demographics for 20036, DC
6,109
Population
4,383
Households
1.4
Avg Household Size
33
Median Age
95%
College-Educated
100%
High-School Grad
0.3 sq mi
ZIP Area
20,363
Density / Sq Mi
$105,800
Median Household Income
$98,527
Median Earnings
$2,301
Median Rent
$442,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Unit B1 pairs modern interior updates with shared storage and nearby laundry.
Where is this residential income property located?
The property is located at 1308 21ST STREET NW Unit B1 Washington, DC.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Updated kitchen with stainless steel appliances and wine cooler; Renovated full bathroom with walk‑in shower; Custom walk‑in closet for additional organization
