Two-Level Residential Income
For Sale
$485,000
1420 STAPLES STREET NE Unit 1, Washington, DC 20002
Updated condominium residence with flexible living space, upgraded finishes, and a private primary suite.
Property Size1,050 SF
Price / SF$440.91
Days on Market123
Property Features for 1420 STAPLES STREET NE Unit 1
General Information
Standard status
Active
Size
1,050 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,121
Building Details
Building Size
1,050 SF
Year Built
2021
Listing Agency:
Pearson Smith Realty, LLC
(832) 270-0097
Listed By:
Andrew Noles · License #sp98376451
(832) 270-0097
Source:
Kwcapitalproperties
Added: May 1
Changed: Aug 28
Last Checked: Aug 29 at 4:05PM
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.
Built in 2021, this two-level condominium residence provides nearly 1,100 square feet with two bedrooms and two full bathrooms. The main floor combines an open living area with a renovated kitchen featuring stainless steel appliances, quartz countertops, custom cabinetry, and a butler’s pantry/bar area. A secondary bedroom and full bathroom are also located on this level, while the upper floor is dedicated to the primary suite with a walk-in closet and upgraded bathroom finishes, including a rain shower.
Additional features include 10-foot ceilings, energy-efficient windows, solid oak flooring, spray foam insulation, a full-size washer and dryer, and substantial storage. The property is located at 1420 Staples Street NE in Washington, DC, near Noma Union Market, Capitol Hill, and the H Street Corridor.
Additional features include 10-foot ceilings, energy-efficient windows, solid oak flooring, spray foam insulation, a full-size washer and dryer, and substantial storage. The property is located at 1420 Staples Street NE in Washington, DC, near Noma Union Market, Capitol Hill, and the H Street Corridor.
Key Highlights
- Nearly 1,100 square feet with 2 bedrooms and 2 full bathrooms
- Two‑level condominium residence built in 2021
- 10‑foot ceilings, solid oak flooring, and energy‑efficient windows
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
$18,727
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
3.86%
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%
$374,540
$374.5K
Cap Rate 7%
$267,529
$267.5K
Cap Rate 9%
$208,078
$208.1K
Market Conditions
NOI Build-Up for 1,100 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
$36.3K $33.00/SF
− Vacancy
−$2.3K −$2.05/SF
EGI
$34.0K $30.95/SF
− OpEx
−$15.3K −$13.93/SF
NOI
$18.7K $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%
$374,540
Cap Rate 7%
$267,529
Cap Rate 9%
$208,078
Alternative Uses
Best Use
Apartment 5plus
$267.5K
$234.1K – $312.1K
NOI $18,727 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$567.9K
$496.9K – $662.6K
NOI $39,755 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,604
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with flexible living space, upgraded finishes, and a private primary suite.
Where is this residential income property located?
The property is located at 1420 STAPLES STREET NE Unit 1 Washington, DC.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Nearly 1,100 square feet with 2 bedrooms and 2 full bathrooms; Two‑level condominium residence built in 2021; 10‑foot ceilings, solid oak flooring, and energy‑efficient windows
