Brick 2-Unit
New
For Sale
$590,000
1501 1ST STREET SW, Washington, DC 20024
Two separate flats each provide a bedroom, full bathroom, kitchen, and living area.
Property Size1,040 SF
Lot Size0.03 Acres
Price / SF$567.31
Days on Market4
Property Features for 1501 1ST STREET SW
General Information
Standard status
Active
Size
1,040 SF
Lot size
0.03 Acres
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Southwest
Public Transit
Yes
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,335
Amenities
washer and dryer hookups
Building Details
Building Size
1,040 SF
Year Built
1941
Buildings
1
Construction
brick
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
Listed By:
Marc M Cormier · License #SP98365998
(301) 660-6272
Source:
Kerishull
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 24 at 3:17PM
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 Berkshire Hathaway HomeServices PenFed Realty
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Investment Insights
Based on property information with market context.
This brick duplex contains two residential flats, each arranged with one bedroom, one full bathroom, a kitchen, and a living area. The combined interior measures approximately 1,040 square feet, and the property was built in 1941. The first-floor flat is described as well maintained; the second-floor unit may need cosmetic updates. Washer and dryer hookups are present, and the listed kitchen appliances include a gas range, refrigerator, microwave, dishwasher, and disposal.
Set on a corner in Southwest Washington, DC, the property has a lot of approximately 1,266 square feet. It is in the Old City #1 neighborhood, with restaurants, shops, parks, public transportation, and Southwest Waterfront attractions cited in the surrounding area. Parking is on street.
Set on a corner in Southwest Washington, DC, the property has a lot of approximately 1,266 square feet. It is in the Old City #1 neighborhood, with restaurants, shops, parks, public transportation, and Southwest Waterfront attractions cited in the surrounding area. Parking is on street.
Key Highlights
- Two one‑bedroom, one‑bathroom flats, each with its own kitchen and living area
- Approximately 1,040 square feet of combined interior space
- Approximately 1,266‑square‑foot lot at a corner location
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,634
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$372,680
$372.7K
Cap Rate 7%
$266,200
$266.2K
Cap Rate 9%
$207,044
$207.0K
Market Conditions
NOI Build-Up for 1,040 SF
Gross rent
$28.1K $27.00/SF
− Vacancy
−$1.5K −$1.40/SF
EGI
$26.6K $25.60/SF
− OpEx
−$8.0K −$7.68/SF
NOI
$18.6K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$372,680
Cap Rate 7%
$266,200
Cap Rate 9%
$207,044
Alternative Uses
Best Use
Multifamily LT 5
$266.2K
$232.9K – $310.6K
NOI $18,634 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$246.9K
$216.0K – $288.0K
NOI $17,280 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$534.9K
$468.1K – $624.1K
NOI $37,446 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,861
Businesses Nearby
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Business Placement
Demographics for 20024, DC
15,952
Population
11,560
Households
1.4
Avg Household Size
37
Median Age
70%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
7,251
Density / Sq Mi
$102,623
Median Household Income
$94,419
Median Earnings
$2,121
Median Rent
$497,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate flats each provide a bedroom, full bathroom, kitchen, and living area.
Where is this duplex located?
The property is located at 1501 1ST STREET SW Washington, DC.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bathroom flats, each with its own kitchen and living area; Approximately 1,040 square feet of combined interior space; Approximately 1,266‑square‑foot lot at a corner location
