Residential Income Property with
For Sale
$550,000
Pending
1391 PENNSYLVANIA AVENUE SE Unit 463, Washington, DC 20003
Condominium residence with an open layout, contemporary finishes, and building amenities in Capitol Hill.
Property Size1,029 SF
Days on Market22
Property Features for 1391 PENNSYLVANIA AVENUE SE Unit 463
General Information
Standard status
Pending
Size
1,029 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,025
Building Details
Building Size
1,029 SF
Year Built
2007
Listing Agency:
Pearson Smith Realty, LLC
Listed By:
Esther Camarotte · License #BR98376374
(202) 344-0045
Source:
Kerishull
Added: Aug 20
Changed: Sep 4
Last Checked: Sep 9 at 10:36PM
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 Pearson Smith Realty, LLC
Investment Insights
Based on property information with market context.
This condominium residence features an open-plan interior with oversized windows and contemporary finishes. The kitchen connects directly to a generous living and dining area, creating a flexible arrangement for daily use and entertaining. The property was built in 2007.
Building services include concierge support, a fitness center, and controlled entry. The residence is positioned in Capitol Hill near Eastern Market, Metro access, restaurants, and retail destinations.
Building services include concierge support, a fitness center, and controlled entry. The residence is positioned in Capitol Hill near Eastern Market, Metro access, restaurants, and retail destinations.
Key Highlights
- Open‑concept condominium layout with oversized windows
- Kitchen opens to a large living and dining area
- Contemporary interior finishes
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
$17,097
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%
$341,940
$341.9K
Cap Rate 7%
$244,243
$244.2K
Cap Rate 9%
$189,967
$190.0K
Market Conditions
NOI Build-Up for 1,029 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
$32.7K $31.80/SF
− Vacancy
−$1.6K −$1.59/SF
EGI
$31.1K $30.21/SF
− OpEx
−$14.0K −$13.59/SF
NOI
$17.1K $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%
$341,940
Cap Rate 7%
$244,243
Cap Rate 9%
$189,967
Alternative Uses
Best Use
Apartment 5plus
$244.2K
$213.7K – $285.0K
NOI $17,097 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$529.3K
$463.1K – $617.5K
NOI $37,050 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with an open layout, contemporary finishes, and building amenities in Capitol Hill.
Where is this residential income property located?
The property is located at 1391 PENNSYLVANIA AVENUE SE Unit 463 Washington, DC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Open‑concept condominium layout with oversized windows; Kitchen opens to a large living and dining area; Contemporary interior finishes
