Two-Bedroom
For Sale
$275,000
1438 MERIDIAN PLACE NW Unit LL1, Washington, DC 20010
Central air, private laundry, and a kitchen updated in 2019 serve this condominium unit.
Property Size608 SF
Price / SF$452.30
Days on Market86
Property Features for 1438 MERIDIAN PLACE NW Unit LL1
General Information
Standard status
Active
Size
608 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Columbia Heights
Public Transit
Yes
Additional Details
HOA Fee
$311
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,420
Amenities
in-unit laundry
central air
secure bike room
ButterflyMX smartphone entry
shared fenced dog run
grilling area
Building Details
Building Size
608 SF
Year Built
1910
Listing Agency:
Redfin Corp
Listed By:
Christopher Junior · License #SP200204038
(703) 217-5311
Source:
Jackrealtygroup
Added: Aug 6
Changed: Oct 27
Last Checked: Oct 26 at 3:02PM
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 Redfin Corp
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Investment Insights
Based on property information with market context.
This 608-square-foot condominium has two legal bedrooms, in-unit laundry, central air, and ceiling heights approaching 8 feet. The kitchen received a 2019 update with white shaker cabinetry, stainless steel appliances, and granite counters. The unit was built in 1910 and holds an active Basic Business License.
The home is near Columbia Heights Metro service on the Green and Yellow Lines. Residents can use a secure bike room, smartphone-controlled ButterflyMX entry, a fenced dog run, and a shared grilling area. Nearby shopping and dining options include Target, Best Buy, Giant, Lidl, and Chick-fil-A. The property has a Walk Score of 96 and Bike Score of 85.
The home is near Columbia Heights Metro service on the Green and Yellow Lines. Residents can use a secure bike room, smartphone-controlled ButterflyMX entry, a fenced dog run, and a shared grilling area. Nearby shopping and dining options include Target, Best Buy, Giant, Lidl, and Chick-fil-A. The property has a Walk Score of 96 and Bike Score of 85.
Key Highlights
- 608‑square‑foot condominium with two legal bedrooms
- Kitchen updated in 2019 with white shaker cabinets, stainless steel appliances, and granite countertops
- In‑unit laundry and central air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,102
Cap Rate
3.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$202,040
$202.0K
Cap Rate 7%
$144,314
$144.3K
Cap Rate 9%
$112,244
$112.2K
Market Conditions
NOI Build-Up for 608 SF
Gross rent
$19.3K $31.80/SF
− Vacancy
−$967 −$1.59/SF
EGI
$18.4K $30.21/SF
− OpEx
−$8.3K −$13.59/SF
NOI
$10.1K $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 Rate 5%
$202,040
Cap Rate 7%
$144,314
Cap Rate 9%
$112,244
Alternative Uses
Best Use
Apartment 5plus
$144.3K
$126.3K – $168.4K
NOI $10,102 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$312.7K
$273.7K – $364.9K
NOI $21,892 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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 - Central air, private laundry, and a kitchen updated in 2019 serve this condominium unit.
Where is this residential income property located?
The property is located at 1438 MERIDIAN PLACE NW Unit LL1 Washington, DC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 608‑square‑foot condominium with two legal bedrooms; Kitchen updated in 2019 with white shaker cabinets, stainless steel appliances, and granite countertops; In‑unit laundry and central air
