Renovated Two-Unit
For Sale
$799,000
1344 LEVIS STREET NE, Washington, DC 20002
Separate kitchens, living areas, and in-unit laundry support flexible occupancy.
Property Size1,878 SF
Price / SF$425.45
Days on Market13
Property Features for 1344 LEVIS STREET NE
General Information
Standard status
Active
Size
1,878 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
private rear yard
in-unit laundry
Building Details
Year Built
1938
Buildings
1
Listing Agency:
KW United
(703) 533-1500
Listed By:
Timothy Robinson · License #674168
(240) 733-7909
Source:
Cummingsrealtors
Added: Sep 1
Changed: Sep 12
Last Checked: Sep 12 at 5:52AM
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 KW United
Investment Insights
Based on property information with market context.
This renovated duplex at 1344 Levis Street NE contains two residences with five bedrooms and three-and-a-half baths overall. The upper unit has three bedrooms and two-and-a-half baths, while the lower unit provides two bedrooms and one full bath. Each residence includes its own kitchen, living area, and in-unit laundry. A private rear yard adds outdoor space to the property.
The home is near the H Street Corridor, Union Market, Gallaudet University, Hechinger Mall, and multiple transit options. Built in 1938, the property offers a two-unit configuration suited to rental use, owner occupancy, or extended-family living.
The home is near the H Street Corridor, Union Market, Gallaudet University, Hechinger Mall, and multiple transit options. Built in 1938, the property offers a two-unit configuration suited to rental use, owner occupancy, or extended-family living.
Key Highlights
- Two‑unit duplex with five total bedrooms and three‑and‑a‑half baths
- Upper residence includes 3 bedrooms and 2.5 baths
- Lower residence includes 2 bedrooms and 1 full bath
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
$35,778
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
4.48%
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%
$715,560
$715.6K
Cap Rate 7%
$511,114
$511.1K
Cap Rate 9%
$397,533
$397.5K
Market Conditions
NOI Build-Up for 1,878 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
$54.1K $28.80/SF
− Vacancy
−$3.0K −$1.58/SF
EGI
$51.1K $27.22/SF
− OpEx
−$15.3K −$8.16/SF
NOI
$35.8K $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%
$715,560
Cap Rate 7%
$511,114
Cap Rate 9%
$397,533
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.3K
NOI $35,778 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$456.7K
$399.7K – $532.9K
NOI $31,972 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$969.6K
$848.4K – $1.13M
NOI $67,873 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,604
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate kitchens, living areas, and in-unit laundry support flexible occupancy.
Where is this duplex located?
The property is located at 1344 LEVIS STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex with five total bedrooms and three‑and‑a‑half baths; Upper residence includes 3 bedrooms and 2.5 baths; Lower residence includes 2 bedrooms and 1 full bath
