Building Details

Building Size 1,045 SF

Year Built 1920

Listing Agency: Compass

Listed By: Carrie Babbington Hillegass · License #SP98375357 Show Phone

Source: Kwcapitalproperties

Added: Oct 1 Changed: Oct 17 Last Checked: Oct 16 at 2:22PM

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Investment Insights

Based on property information with market context.

This three-bedroom condominium in a 1920 building has an open living and dining area, hardwood flooring, and bedrooms with closets and natural light. The updated kitchen features stone counters, soft-close cabinetry, a backsplash, wine refrigerator, and new appliances. A washer and dryer are located inside the unit. One parking space is available to lease.

The home is near Meridian Hill Park and the shops and restaurants along 14th Street. U Street and Columbia Heights Metro stations are within reach, along with the U Street dining and entertainment district.

Key Highlights

• Three‑bedroom layout with an open living and dining area
• Renovated kitchen with stone counters, soft‑close cabinetry, wine refrigerator, and new appliances
• In‑unit washer and dryer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,336

Cap Rate

2.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$406,720 $406.7K

Cap Rate 7%

$290,514 $290.5K

Cap Rate 9%

$225,956 $226.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,045 SF

Gross rent

$39.3K $37.56/SF

− Vacancy

−$2.3K −$2.18/SF

EGI

$37.0K $35.38/SF

− OpEx

−$16.6K −$15.92/SF

NOI

$20.3K $19.46/SF

Area

ZIP 20009

Vacancy

5.80%

Lease Rate

$37.56 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$406,720

Cap Rate 7%

$290,514

Cap Rate 9%

$225,956

Alternative Uses

Best Use

Apartment 5plus

$290.5K

$254.2K – $338.9K (±1% cap)

NOI $20,336 @ 7.0% cap · market cap 2.91%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$537.5K

$470.3K – $627.1K (±1% cap)

NOI $37,626 @ 7.0% cap · market cap 5.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Electrical Service Big Box & Wholesale Store Auto Parts Store (Bike/Boat/Book/etc) Store Furniture & Home Goods Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

5,390

Businesses Nearby

Explore this area Business Placement

Demographics for 20009, DC

53,357

Population

31,824

Households

1.7

Avg Household Size

34

Median Age

84%

College-Educated

97%

High-School Grad

1.3 sq mi

ZIP Area

41,044

Density / Sq Mi

$140,555

Median Household Income

$99,606

Median Earnings

$2,346

Median Rent

$727,800

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - The renovated kitchen includes stone countertops, soft-close cabinets, a wine refrigerator, and new appliances.

Where is this residential income property located?

The property is located at 1447 CHAPIN STREET NW Unit 203 Washington, DC.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: Three‑bedroom layout with an open living and dining area; Renovated kitchen with stone counters, soft‑close cabinetry, wine refrigerator, and new appliances; In‑unit washer and dryer