Two-Bedroom Condominium with
For Sale
$665,000
1391 PENNSYLVANIA AVENUE SE Unit 309, Washington, DC 20003
Convenient to Potomac Ave Metro Station, this 2-bedroom condo includes an additional den and two full baths.
Property Size1,244 SF
Price / SF$534.57
Days on Market125
Property Features for 1391 PENNSYLVANIA AVENUE SE Unit 309
General Information
Standard status
Active
Size
1,244 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,840
Building Details
Building Size
1,244 SF
Year Built
2007
Listing Agency:
Compass
Listed By:
Damian E Buckley · License #BR98363936
(202) 438-6080
Source:
Kerishull
Added: May 13
Changed: Aug 28
Last Checked: Sep 13 at 1:37PM
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 Compass
Investment Insights
Based on property information with market context.
Welcome home to a thoughtfully designed two-bedroom, two-bath condominium with an additional den in the Jenkins Row community. Unit 309 offers approximately 1,244 square feet of living space with generous living and dining areas filled with natural light. The versatile den can serve as a home office, guest room, library, or creative studio. Both bedrooms are comfortable and private, including a primary suite with an en-suite bath, while the second full bathroom adds flexibility for guests or roommates.
The home is positioned about 0.2 miles from the Potomac Ave Metro Station, making commuting straightforward and convenient. Residents also benefit from proximity to Capitol Hill, neighborhood parks, restaurants, coffee shops, grocery stores, and everyday essentials.
Built in 2007, this condominium combines practical indoor space with an easy, walkable Metro connection that supports both everyday routines and entertaining at home.
The home is positioned about 0.2 miles from the Potomac Ave Metro Station, making commuting straightforward and convenient. Residents also benefit from proximity to Capitol Hill, neighborhood parks, restaurants, coffee shops, grocery stores, and everyday essentials.
Built in 2007, this condominium combines practical indoor space with an easy, walkable Metro connection that supports both everyday routines and entertaining at home.
Key Highlights
- About 0.2 miles to Potomac Ave Metro Station
- Two bedrooms plus a separate den for flexible living space
- Two full bathrooms, including an en‑suite primary 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
$20,670
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
3.11%
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%
$413,400
$413.4K
Cap Rate 7%
$295,286
$295.3K
Cap Rate 9%
$229,667
$229.7K
Market Conditions
NOI Build-Up for 1,244 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
$39.6K $31.80/SF
− Vacancy
−$2.0K −$1.59/SF
EGI
$37.6K $30.21/SF
− OpEx
−$16.9K −$13.59/SF
NOI
$20.7K $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%
$413,400
Cap Rate 7%
$295,286
Cap Rate 9%
$229,667
Alternative Uses
Best Use
Apartment 5plus
$295.3K
$258.4K – $344.5K
NOI $20,670 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$639.9K
$559.9K – $746.5K
NOI $44,791 @ 7.0% cap · market cap 6.74%
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
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,530
Businesses Nearby
Explore this area
Business Placement
Demographics for 20003, DC
36,501
Population
20,817
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
15,870
Density / Sq Mi
$159,604
Median Household Income
$107,846
Median Earnings
$2,630
Median Rent
$954,200
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 - Convenient to Potomac Ave Metro Station, this 2-bedroom condo includes an additional den and two full baths.
Where is this residential income property located?
The property is located at 1391 PENNSYLVANIA AVENUE SE Unit 309 Washington, DC.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: About 0.2 miles to Potomac Ave Metro Station; Two bedrooms plus a separate den for flexible living space; Two full bathrooms, including an en‑suite primary bath
