Updated Top-Floor Residential Income
For Sale
$529,000
1527 PARK ROAD NW Unit 301, Washington, DC 20010
Two-bedroom apartment with private outdoor space, reserved parking, in-unit laundry, and extensive recent improvements.
Property Size1,058 SF
Price / SF$500
Days on Market98
Property Features for 1527 PARK ROAD NW Unit 301
General Information
Standard status
Active
Size
1,058 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,552
Amenities
central air conditioning
hardwood flooring
in-unit washer/dryer
private balcony/deck
off-street reserved parking
new roof
Building Details
Building Size
1,058 SF
Year Built
1905
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Warren J Kluth · License #SP100443
(703) 244-1111
Source:
Kerishull
Added: Jun 5
Changed: Aug 31
Last Checked: Sep 10 at 8:10AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This top-floor residential income property offers 1,058 square feet with two bedrooms and one full bathroom. The layout includes an entry foyer with coat storage, an open living and dining area, a spacious kitchen, hardwood flooring, ample closets, and a private balcony or deck with room for seating. In-unit laundry and off-street reserved parking add practical convenience.
Property improvements include central AC installed in 2020, a fully remodeled bathroom completed in 2021, replacement windows from 2022, and a new refrigerator and washer/dryer installed in 2024. A garbage disposal and dishwasher are identified as new in 2026. The 1905 building is also scheduled for a new roof, with the work paid for.
The property is located at 1527 Park Road NW in Washington, DC, near Meridian Hill Park, Adams Morgan, Mount Pleasant, Columbia Heights, 14th Street, Metro, shopping, dining, and nightlife.
Property improvements include central AC installed in 2020, a fully remodeled bathroom completed in 2021, replacement windows from 2022, and a new refrigerator and washer/dryer installed in 2024. A garbage disposal and dishwasher are identified as new in 2026. The 1905 building is also scheduled for a new roof, with the work paid for.
The property is located at 1527 Park Road NW in Washington, DC, near Meridian Hill Park, Adams Morgan, Mount Pleasant, Columbia Heights, 14th Street, Metro, shopping, dining, and nightlife.
Key Highlights
- 1,058 SF top‑floor apartment with 2 bedrooms and 1 full bathroom
- Private balcony/deck with table space and additional seating areas
- Off‑street reserved parking and in‑unit washer/dryer
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
$17,579
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
3.32%
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%
$351,580
$351.6K
Cap Rate 7%
$251,129
$251.1K
Cap Rate 9%
$195,322
$195.3K
Market Conditions
NOI Build-Up for 1,058 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
$33.6K $31.80/SF
− Vacancy
−$1.7K −$1.59/SF
EGI
$32.0K $30.21/SF
− OpEx
−$14.4K −$13.59/SF
NOI
$17.6K $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 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%
$351,580
Cap Rate 7%
$251,129
Cap Rate 9%
$195,322
Alternative Uses
Best Use
Apartment 5plus
$251.1K
$219.7K – $293.0K
NOI $17,579 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$544.2K
$476.2K – $634.9K
NOI $38,094 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,165
Businesses Nearby
Explore this area
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 - Two-bedroom apartment with private outdoor space, reserved parking, in-unit laundry, and extensive recent improvements.
Where is this residential income property located?
The property is located at 1527 PARK ROAD NW Unit 301 Washington, DC.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 1,058 SF top‑floor apartment with 2 bedrooms and 1 full bathroom; Private balcony/deck with table space and additional seating areas; Off‑street reserved parking and in‑unit washer/dryer
