Two-Level Residential Income
For Sale
$529,900
1390 V STREET NW Unit 217, Washington, DC 20009
Contemporary residence with granite kitchen counters, stainless appliances, dedicated office, and attached underground garage parking.
Property Size780 SF
Days on Market60
Property Features for 1390 V STREET NW Unit 217
General Information
Standard status
Active
Size
780 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,251
Building Details
Building Size
780 SF
Year Built
2005
Listing Agency:
EJF Real Estate Services
Listed By:
Tom E Zorc · License #SP100310
(202) 365-2526
Source:
Kwcapitalproperties
Added: Jul 17
Changed: Sep 14
Last Checked: Sep 14 at 8:37AM
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 EJF Real Estate Services
Investment Insights
Based on property information with market context.
Built in 2005, this two-level apartment includes 1 bedroom, 1.5 bathrooms, and a separate office area. The entry level has a coat closet and powder room, while the upper floor adds a walk-in closet, ensuite bathroom, and washer-dryer. Open living space features wood flooring and large east-facing windows. The kitchen is equipped with granite counters and stainless steel appliances.
The property is in Washington’s U Street neighborhood near the 14th & U street corridors. Shops, restaurants, cultural attractions, Metro access, and grocery stores including Trader Joe’s, Harris Teeter, and Whole Foods are nearby. An attached underground garage provides parking, and residents have access to shared outdoor community space.
The property is in Washington’s U Street neighborhood near the 14th & U street corridors. Shops, restaurants, cultural attractions, Metro access, and grocery stores including Trader Joe’s, Harris Teeter, and Whole Foods are nearby. An attached underground garage provides parking, and residents have access to shared outdoor community space.
Key Highlights
- 1 bedroom plus separate office area across 2 levels
- 1.5 bathrooms, including an upper‑level ensuite
- Granite kitchen counters with stainless steel appliances
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
$15,179
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
2.86%
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%
$303,580
$303.6K
Cap Rate 7%
$216,843
$216.8K
Cap Rate 9%
$168,656
$168.7K
Market Conditions
NOI Build-Up for 780 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
$29.3K $37.56/SF
− Vacancy
−$1.7K −$2.18/SF
EGI
$27.6K $35.38/SF
− OpEx
−$12.4K −$15.92/SF
NOI
$15.2K $19.46/SF
Area
ZIP 20009
Vacancy
5.80%
Lease Rate
$37.56 /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%
$303,580
Cap Rate 7%
$216,843
Cap Rate 9%
$168,656
Alternative Uses
Best Use
Apartment 5plus
$216.8K
$189.7K – $253.0K
NOI $15,179 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$401.2K
$351.1K – $468.1K
NOI $28,084 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary residence with granite kitchen counters, stainless appliances, dedicated office, and attached underground garage parking.
Where is this residential income property located?
The property is located at 1390 V STREET NW Unit 217 Washington, DC.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: 1 bedroom plus separate office area across 2 levels; 1.5 bathrooms, including an upper‑level ensuite; Granite kitchen counters with stainless steel appliances
