Residential Income Property with
For Sale
$777,000
1402 H STREET NE Unit 504, Washington, DC 20002
Modern two-bedroom, two-bath residence with an open interior, natural light, and skyline outlooks.
Property Size1,381 SF
Days on Market194
Property Features for 1402 H STREET NE Unit 504
General Information
Standard status
Active
Size
1,381 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,306
Building Details
Building Size
1,381 SF
Year Built
2017
Listing Agency:
Desiree Callender Realtors and Associates, LLC
Listed By:
Charisse Callender-Scott · License #BR4000379
(240) 715-5138
Source:
Barnesrealestatecompany
Added: Mar 5
Changed: Aug 31
Last Checked: Sep 14 at 9:59AM
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 Desiree Callender Realtors and Associates, LLC
Investment Insights
Based on property information with market context.
This 1,381-square-foot residential income property was built in 2017 and configured as a two-bedroom, two-bath residence. The interior includes an open living arrangement, floor-to-ceiling windows, a contemporary kitchen with an oversized island, and a private balcony. Skyline views and abundant daylight further define the living environment.
The property is located in Washington, DC’s H Street Arts District at 1402 H Street NE. The surrounding area includes restaurants, cafes, galleries, live music venues, festivals, boutique shopping, Whole Foods, Union Market, and Union Station. Public and private transportation provide access throughout Washington, DC, Maryland, and Virginia.
The property is located in Washington, DC’s H Street Arts District at 1402 H Street NE. The surrounding area includes restaurants, cafes, galleries, live music venues, festivals, boutique shopping, Whole Foods, Union Market, and Union Station. Public and private transportation provide access throughout Washington, DC, Maryland, and Virginia.
Key Highlights
- Two‑bedroom, two‑bath residential income property
- 1,381 square feet of interior space
- Built in 2017
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
$23,511
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
3.03%
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%
$470,220
$470.2K
Cap Rate 7%
$335,871
$335.9K
Cap Rate 9%
$261,233
$261.2K
Market Conditions
NOI Build-Up for 1,381 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
$45.6K $33.00/SF
− Vacancy
−$2.8K −$2.05/SF
EGI
$42.7K $30.95/SF
− OpEx
−$19.2K −$13.93/SF
NOI
$23.5K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /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%
$470,220
Cap Rate 7%
$335,871
Cap Rate 9%
$261,233
Alternative Uses
Best Use
Apartment 5plus
$335.9K
$293.9K – $391.9K
NOI $23,511 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$713.0K
$623.9K – $831.9K
NOI $49,911 @ 7.0% cap · market cap 6.42%
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
2,287
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
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 - Modern two-bedroom, two-bath residence with an open interior, natural light, and skyline outlooks.
Where is this residential income property located?
The property is located at 1402 H STREET NE Unit 504 Washington, DC.
What is the asking price?
The asking price for this property is $777,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residential income property; 1,381 square feet of interior space; Built in 2017
