Renovated Two-Unit
For Sale
$600,000
1334 28TH Street SE, Washington, DC 20020
Multi-Family, WASHINGTON, DC
Property Size1,760 SF
Lot Size0.07 Acres
Price / SF$340.91
Days on Market85
Property Features for 1334 28TH Street SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Dining Room, Basement
Parking features
Assigned, On Street
Interior features
Additional Stairway, Attic, Bathroom - Tub Shower, Breakfast Area, Ceiling Fan(s), Combination Dining/Living, Entry Level Bedroom, Floor Plan - Traditional, Kitchen - Galley
Appliances
Washer/Dryer Stacked, Exhaust Fan, Oven/Range - Gas, Refrigerator, Built-In Microwave, Microwave, Stainless Steel Appliances, Washer, WaterHeater, Dryer
Subdivision
HILL CREST
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
1,760 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3614
Utilities
Heating system
Other (Heating)
Cooling system
Central Air
Amenities
washer/dryer
ceiling fans
central air
fenced rear yard
Building Details
Year built
1939
Number of units
2
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Keller Williams Preferred Properties · Keller Williams Realty
(240) 737-5000
Listed By:
Angel S. Saules · License #600657
(240) 342-6435
Added: Jun 18
Changed: Sep 5
Last Checked: Sep 10 at 11:06AM
MLS# DCDC2267016
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Colonial brick duplex contains 1,760 square feet and was built in 1939. The two-unit layout includes a two-bedroom first unit and a second unit with three bedrooms, including a front room that can function as living space. Both units have full kitchens with stainless steel appliances and gas ranges, washer and dryer setups, rear access, natural light, ceiling fans, central air, and radiator heat. Recent work includes bathroom renovations, fresh paint, restored hardwood flooring, and servicing of major systems. The property also includes attic and basement areas, with rear walk-up stair access from the basement, plus a fenced rear yard.
The home is located near major commuter routes and public transportation, close to the Maryland-D.C. line with access toward Virginia. Anacostia Park and Eastern Market are nearby, and parking includes assigned and on-street options.
The home is located near major commuter routes and public transportation, close to the Maryland-D.C. line with access toward Virginia. Anacostia Park and Eastern Market are nearby, and parking includes assigned and on-street options.
Key Highlights
- 1,760 square feet on a 0.0654‑acre lot
- Two‑unit duplex with a 2‑bedroom unit and a 3‑bedroom unit
- Renovated bathrooms, fresh paint, and restored original 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
$31,102
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
5.18%
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%
$622,040
$622.0K
Cap Rate 7%
$444,314
$444.3K
Cap Rate 9%
$345,578
$345.6K
Market Conditions
NOI Build-Up for 1,760 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
$47.5K $27.00/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$44.4K $25.25/SF
− OpEx
−$13.3K −$7.57/SF
NOI
$31.1K $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%
$622,040
Cap Rate 7%
$444,314
Cap Rate 9%
$345,578
Alternative Uses
Best Use
Multifamily LT 5
$444.3K
$388.8K – $518.4K
NOI $31,102 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$396.9K
$347.3K – $463.1K
NOI $27,784 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$908.7K
$795.1K – $1.06M
NOI $63,608 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Fenced yard
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated two-unit property with separate kitchens, central air, and a fenced rear yard.
Where is this duplex located?
The property is located at 1334 28TH Street SE Washington, DC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,760 square feet on a 0.0654‑acre lot; Two‑unit duplex with a 2‑bedroom unit and a 3‑bedroom unit; Renovated bathrooms, fresh paint, and restored original hardwood floors
