Quadplex with Screened
For Sale
$574,999
1343 29th Street Southeast, Washington, DC 20020
Four self-contained residences offer updated kitchens, hardwood flooring, and screened or partially enclosed porches.
Property Size2,640 SF
Price / SF$217.80
Days on Market618
Property Features for 1343 29th Street Southeast
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RA-1
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,742
Amenities
No
No Pool
Building Details
Year Built
1938
Buildings
1
Listing Agency:
R.M. Simpson Real Estate, LLC.
(301) 509-5289
Listed By:
Robert M Simpson · License #643890
(301) 509-5289
Source:
Compass
Added: Dec 20, 2024
Changed: Aug 29
Last Checked: Aug 29 at 8:29PM
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 R.M. Simpson Real Estate, LLC.
Investment Insights
Based on property information with market context.
This 2,640-square-foot quadplex at 1343 29th Street Southeast contains four self-contained units. Built in 1938, the property features newer kitchens, hardwood floors, and screened or partially enclosed rear porches. The building is zoned RA-1 and is located within Washington, DC city limits.
The property is in the Hillcrest neighborhood, with access to downtown DC, Capitol Hill, the BW Parkway, and Ronald Reagan Washington National Airport. The adjacent property is also available, creating an opportunity to consider both offerings together.
The property is in the Hillcrest neighborhood, with access to downtown DC, Capitol Hill, the BW Parkway, and Ronald Reagan Washington National Airport. The adjacent property is also available, creating an opportunity to consider both offerings together.
Key Highlights
- Four self‑contained units in a quadplex configuration
- 2,640 SF building constructed in 1938
- Newer kitchens and hardwood floors
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
$46,653
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
8.11%
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%
$933,060
$933.1K
Cap Rate 7%
$666,471
$666.5K
Cap Rate 9%
$518,367
$518.4K
Market Conditions
NOI Build-Up for 2,640 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
$71.3K $27.00/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$66.6K $25.25/SF
− OpEx
−$20.0K −$7.57/SF
NOI
$46.7K $17.67/SF
Area
ZIP 20020
Vacancy
6.50%
Lease Rate
$27.00 /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%
$933,060
Cap Rate 7%
$666,471
Cap Rate 9%
$518,367
Alternative Uses
Best Use
Multifamily LT 5
$666.5K
$583.2K – $777.6K
NOI $46,653 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$595.4K
$521.0K – $694.6K
NOI $41,676 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,413 @ 7.0% cap · market cap 16.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Explore this area
Business Placement
Demographics for 20020, DC
51,616
Population
26,376
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
89%
High-School Grad
4.6 sq mi
ZIP Area
11,221
Density / Sq Mi
$53,015
Median Household Income
$48,752
Median Earnings
$1,317
Median Rent
$442,500
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?
Quadplex - Four self-contained residences offer updated kitchens, hardwood flooring, and screened or partially enclosed porches.
Where is this quadplex located?
The property is located at 1343 29th Street Southeast Washington, DC.
What is the asking price?
The asking price for this property is $574,999.
What are key features of this property?
This property features: Four self‑contained units in a quadplex configuration; 2,640 SF building constructed in 1938; Newer kitchens and hardwood floors
