Renovated Residential Income
For Sale
$635,000
1451 GIRARD STREET NW Unit 4, Washington, DC 20009
Single-level residence with three bedrooms, two full baths, and separately deeded off-street parking.
Property Size953 SF
Price / SF$636.91
Days on Market29
Property Features for 1451 GIRARD STREET NW Unit 4
General Information
Standard status
Active
Size
953 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
HOA Fee
$229.67
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,744
Amenities
in-unit washer/dryer
central air
Building Details
Building Size
953 SF
Year Built
1913
Year Renovated
2016
Listing Agency:
Compass
Listed By:
Rachel P Levey · License #SP98371969
(202) 361-4073
Source:
Barnesrealestatecompany
Added: Aug 16
Changed: Sep 10
Last Checked: Sep 12 at 9:48AM
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 Compass
Investment Insights
Based on property information with market context.
This single-level residential income property occupies a classic 1913 building and was renovated in 2016. The home combines exposed brick and hardwood floors with an open kitchen and living area featuring an island with seating for three, stainless appliances, and white cabinetry. Three bedrooms and two full baths provide a practical layout, while an in-unit washer and dryer, central air, and additional storage support everyday use. An assigned off-street parking space is included and separately deeded, and the property is pet-friendly.
Columbia Heights Metro, served by the Green and Yellow lines, is a quarter mile away and reachable by an 8 minute walk. The 14th and 16th Street corridors, with restaurants, cafes, and nightlife, are only minutes away.
Columbia Heights Metro, served by the Green and Yellow lines, is a quarter mile away and reachable by an 8 minute walk. The 14th and 16th Street corridors, with restaurants, cafes, and nightlife, are only minutes away.
Key Highlights
- Renovated in 2016 with exposed brick and hardwood floors
- Three bedrooms and two full baths in a single‑level layout
- Assigned off‑street parking space included and separately deeded
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
$19,401
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
3.06%
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%
$388,020
$388.0K
Cap Rate 7%
$277,157
$277.2K
Cap Rate 9%
$215,567
$215.6K
Market Conditions
NOI Build-Up for 997 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
$37.4K $37.56/SF
− Vacancy
−$2.2K −$2.18/SF
EGI
$35.3K $35.38/SF
− OpEx
−$15.9K −$15.92/SF
NOI
$19.4K $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 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%
$388,020
Cap Rate 7%
$277,157
Cap Rate 9%
$215,567
Alternative Uses
Best Use
Apartment 5plus
$277.2K
$242.5K – $323.4K
NOI $19,401 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$512.8K
$448.7K – $598.3K
NOI $35,898 @ 7.0% cap · market cap 5.65%
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
3,959
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 - Single-level residence with three bedrooms, two full baths, and separately deeded off-street parking.
Where is this residential income property located?
The property is located at 1451 GIRARD STREET NW Unit 4 Washington, DC.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Renovated in 2016 with exposed brick and hardwood floors; Three bedrooms and two full baths in a single‑level layout; Assigned off‑street parking space included and separately deeded
