Residential Income Property with
For Sale
$370,000
1438 MERIDIAN PLACE NW Unit 406, Washington, DC 20010
The 2-bedroom, 2-bathroom residence includes in-unit laundry and hardwood floors.
Property Size634 SF
Price / SF$583.60
Days on Market23
Property Features for 1438 MERIDIAN PLACE NW Unit 406
General Information
Standard status
Active
Size
634 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Neighborhood
Columbia Heights
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,197
Amenities
in-unit laundry
private balcony
dog park
landscaped common grounds
exterior cameras
intercom access
main entrance lock
Building Details
Building Size
634 SF
Year Built
1910
Listing Agency:
Real Broker, LLC
Listed By:
Simone Velvel
(703) 507-7614
Source:
Canopy-re
Added: Oct 7
Changed: Oct 26
Last Checked: Oct 26 at 2:10PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This 634-square-foot residential income property has two bedrooms, two bathrooms, a kitchen, hardwood flooring, in-unit laundry and a private balcony. The residence was built in 1910. Shared grounds include landscaping and a dog park; building security features include exterior cameras, intercom access and a locked main entrance.
Located at 1438 Meridian Place NW in Washington, DC, the property also offers on-street parking. The association covers essential services, though specific services are not detailed.
Located at 1438 Meridian Place NW in Washington, DC, the property also offers on-street parking. The association covers essential services, though specific services are not detailed.
Key Highlights
- 634‑square‑foot residence with 2 bedrooms and 2 bathrooms
- Private balcony, hardwood flooring and in‑unit laundry
- Built in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,534
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$210,680
$210.7K
Cap Rate 7%
$150,486
$150.5K
Cap Rate 9%
$117,044
$117.0K
Market Conditions
NOI Build-Up for 634 SF
Gross rent
$20.2K $31.80/SF
− Vacancy
−$1.0K −$1.59/SF
EGI
$19.2K $30.21/SF
− OpEx
−$8.6K −$13.59/SF
NOI
$10.5K $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 Rate 5%
$210,680
Cap Rate 7%
$150,486
Cap Rate 9%
$117,044
Alternative Uses
Best Use
Apartment 5plus
$150.5K
$131.7K – $175.6K
NOI $10,534 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.1K
$285.4K – $380.5K
NOI $22,828 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,952
Businesses Nearby
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Business Placement
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The 2-bedroom, 2-bathroom residence includes in-unit laundry and hardwood floors.
Where is this residential income property located?
The property is located at 1438 MERIDIAN PLACE NW Unit 406 Washington, DC.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 634‑square‑foot residence with 2 bedrooms and 2 bathrooms; Private balcony, hardwood flooring and in‑unit laundry; Built in 1910
