Furnished Residential Income
For Sale
$579,500
1409 G STREET NE Unit 2, Washington, DC 20002
Two-level condominium with flexible ownership or rental use and a renovated interior near the H Street Corridor.
Property Size1,432 SF
Days on Market200
Property Features for 1409 G STREET NE Unit 2
General Information
Standard status
Active
Size
1,432 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Furnished
Yes
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,159
Building Details
Building Size
1,432 SF
Year Built
1937
Year Renovated
2014
Listing Agency:
Samson Properties
Listed By:
KATERYNA SENIUK · License #SP200200679
(202) 440-6798
Source:
Kwcapitalproperties
Added: Feb 25
Changed: Sep 2
Last Checked: Sep 13 at 11:44AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This furnished two-level condominium offers a three-bedroom, two-and-a-half-bath layout with a practical separation between living and sleeping areas. The main floor combines the kitchen and living room in an open arrangement, with stainless steel appliances, granite counters, contemporary cabinetry, refinished bamboo flooring, and extensive window light. On the lower level, the primary bedroom includes a walk-in closet and private bath, while the home also provides additional storage and laundry space. Fresh paint supports immediate occupancy, and furnishings are included except for decor and artwork.
The building was fully renovated in 2014 and originally constructed in 1937. The property is located near the H Street Corridor, with access to dining, retail, entertainment, and public transportation. Nearby Zone 6 street parking is described as readily available.
The building was fully renovated in 2014 and originally constructed in 1937. The property is located near the H Street Corridor, with access to dining, retail, entertainment, and public transportation. Nearby Zone 6 street parking is described as readily available.
Key Highlights
- 3BR/2.5BA two‑level condominium
- Furnished sale includes furniture; decor and artwork excluded
- Open kitchen and living area with stainless steel appliances and granite countertops
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
$24,379
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
4.21%
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%
$487,580
$487.6K
Cap Rate 7%
$348,271
$348.3K
Cap Rate 9%
$270,878
$270.9K
Market Conditions
NOI Build-Up for 1,432 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
$47.3K $33.00/SF
− Vacancy
−$2.9K −$2.05/SF
EGI
$44.3K $30.95/SF
− OpEx
−$19.9K −$13.93/SF
NOI
$24.4K $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%
$487,580
Cap Rate 7%
$348,271
Cap Rate 9%
$270,878
Alternative Uses
Best Use
Apartment 5plus
$348.3K
$304.7K – $406.3K
NOI $24,379 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$739.3K
$646.9K – $862.6K
NOI $51,754 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level condominium with flexible ownership or rental use and a renovated interior near the H Street Corridor.
Where is this residential income property located?
The property is located at 1409 G STREET NE Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $579,500.
What are key features of this property?
This property features: 3BR/2.5BA two‑level condominium; Furnished sale includes furniture; decor and artwork excluded; Open kitchen and living area with stainless steel appliances and granite countertops
