Renovated Residential Income
For Sale
$575,000
1512 F STREET NE Unit 2, Washington, DC 20002
Renovated two-level condominium residence with a private entrance, flexible living space, and upgraded kitchen and bath finishes.
Property Size1,362 SF
Days on Market19
Property Features for 1512 F STREET NE Unit 2
General Information
Standard status
Active
Size
1,362 SF
Elevators
No
Property subtype
Unit/Flat/Apartment
Additional Details
HOA Fee
$283
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,207
Building Details
Building Size
1,362 SF
Year Built
1941
Listing Agency:
Real Broker, LLC
Listed By:
Jason E Townsend · License #BR98360839
(202) 415-7400
Source:
Kwcapitalproperties
Added: Aug 27
Changed: Sep 12
Last Checked: Sep 14 at 10:56AM
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
Investment Insights
Based on property information with market context.
This renovated two-level condominium residence offers a townhouse-style layout with 3 bedrooms and 3 full bathrooms. A private front entry opens to a south-facing living room connected to the dining area and kitchen. The kitchen includes an eat-in peninsula, pantry storage, generous cabinetry, and a gas range. The lower level also provides a third bedroom, full bathroom, and rear alley exit, while the upper floor contains a primary suite with two walk-in closets and an ensuite bath featuring dual vanities, a soaking tub, and a separate shower. A second bedroom has access to a full bathroom, and a laundry closet accommodates a full-size washer and dryer.
The residence is part of a boutique four-unit condominium positioned near Capitol Hill, Kingman Park, and the H Street Corridor. Walking and biking access extends to Rosedale Pool & Recreation Center, Kingman Island, Lincoln Park, Union Station, Union Market, the Fields at RFK, Eastern Market, and the Anacostia River Trail, along with nearby restaurants, shops, and gathering places.
The residence is part of a boutique four-unit condominium positioned near Capitol Hill, Kingman Park, and the H Street Corridor. Walking and biking access extends to Rosedale Pool & Recreation Center, Kingman Island, Lincoln Park, Union Station, Union Market, the Fields at RFK, Eastern Market, and the Anacostia River Trail, along with nearby restaurants, shops, and gathering places.
Key Highlights
- 3 BR/3 full BA condominium residence spanning two levels
- Renovated interior with private front entry and fenced‑in front yard
- Primary suite includes two walk‑in closets and ensuite bath
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
$23,188
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
4.03%
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%
$463,760
$463.8K
Cap Rate 7%
$331,257
$331.3K
Cap Rate 9%
$257,644
$257.6K
Market Conditions
NOI Build-Up for 1,362 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
$44.9K $33.00/SF
− Vacancy
−$2.8K −$2.05/SF
EGI
$42.2K $30.95/SF
− OpEx
−$19.0K −$13.93/SF
NOI
$23.2K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /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%
$463,760
Cap Rate 7%
$331,257
Cap Rate 9%
$257,644
Alternative Uses
Best Use
Apartment 5plus
$331.3K
$289.9K – $386.5K
NOI $23,188 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$703.2K
$615.3K – $820.4K
NOI $49,224 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Renovated two-level condominium residence with a private entrance, flexible living space, and upgraded kitchen and bath finishes.
Where is this residential income property located?
The property is located at 1512 F STREET NE Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3 BR/3 full BA condominium residence spanning two levels; Renovated interior with private front entry and fenced‑in front yard; Primary suite includes two walk‑in closets and ensuite bath
