Residential Income Property with
For Sale
$595,000
1341 IRVING STREET NW Unit A, Washington, DC 20010
Condominium residence with private outdoor space, dedicated parking, and a modern kitchen with integrated appliances.
Property Size1,274 SF
Price / SF$467.03
Days on Market39
Property Features for 1341 IRVING STREET NW Unit A
General Information
Standard status
Active
Size
1,274 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,620
Amenities
fireplace
modern kitchen
central island
private patio with grill
in-unit washer and dryer
dedicated off-street parking
Building Details
Building Size
1,274 SF
Year Built
1900
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Matthew Koerber · License #SP98376771
(202) 744-0139
Source:
Kerishull
Added: Aug 7
Changed: Sep 6
Last Checked: Sep 13 at 1:41PM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
Unit A at The Augusta Condominium is a 1,274-square-foot residential property with two bedrooms, a spacious living room with fireplace, and a separate dining area. The updated kitchen includes integrated appliances and a central island with bar seating. Both bedrooms offer substantial closet storage, while the primary suite includes an en-suite bathroom with a walk-in shower, soaking tub, and dual-sink vanity. The home also has a private patio, in-unit washer and dryer, and dedicated off-street parking.
Built in 1900, the property is located on Irving Street in Columbia Heights, half a block from the Columbia Heights Metro Green Line. Shopping and dining at DC USA include Target, Giant Food, New York Sports Club, and additional retailers and services.
Built in 1900, the property is located on Irving Street in Columbia Heights, half a block from the Columbia Heights Metro Green Line. Shopping and dining at DC USA include Target, Giant Food, New York Sports Club, and additional retailers and services.
Key Highlights
- 1,274‑square‑foot condominium residence with two bedrooms
- Primary suite includes an en‑suite bath, walk‑in shower, soaking tub, and dual‑sink vanity
- Modern kitchen with integrated appliances and central island with bar seating
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
$21,168
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
3.56%
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%
$423,360
$423.4K
Cap Rate 7%
$302,400
$302.4K
Cap Rate 9%
$235,200
$235.2K
Market Conditions
NOI Build-Up for 1,274 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
$40.5K $31.80/SF
− Vacancy
−$2.0K −$1.59/SF
EGI
$38.5K $30.21/SF
− OpEx
−$17.3K −$13.59/SF
NOI
$21.2K $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%
$423,360
Cap Rate 7%
$302,400
Cap Rate 9%
$235,200
Alternative Uses
Best Use
Apartment 5plus
$302.4K
$264.6K – $352.8K
NOI $21,168 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$655.3K
$573.4K – $764.5K
NOI $45,871 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,770
Businesses Nearby
Explore this area
Business Placement
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with private outdoor space, dedicated parking, and a modern kitchen with integrated appliances.
Where is this residential income property located?
The property is located at 1341 IRVING STREET NW Unit A Washington, DC.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1,274‑square‑foot condominium residence with two bedrooms; Primary suite includes an en‑suite bath, walk‑in shower, soaking tub, and dual‑sink vanity; Modern kitchen with integrated appliances and central island with bar seating
