Renovated Duplex with Off-Street
New
For Sale
$1,380,000
1534 15TH Street NW, Washington, DC 20005
Four-level detached rowhouse with separate utilities, HVAC systems, kitchens, and a private driveway with patio.
Property Size2,174 SF
Price / SF$634.77
Days on Market6
Property Features for 1534 15TH Street NW
General Information
Standard status
Active
Size
2,174 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
2BR/1FB/2HB, 1BR/1FB
Multifamily Units
2
Building Details
Year Built
1892
Buildings
1
Stories
4
Construction
rowhouse
Listing Agency:
RE/MAX Gateway,LLC
Listed By:
Morgan N Knull · License #AB98369768
(202) 431-9867
Source:
Deepcreeklake
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 12 at 10:38AM
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 RE/MAX Gateway,LLC
Investment Insights
Based on property information with market context.
This detached duplex at 1534 15TH Street NW is arranged across four levels and contains 2,174 SF. The upper residence offers two bedrooms, one full bath, and two half baths, while the lower apartment includes one bedroom and one full bath. Each unit has its own electric panel, HVAC system, and kitchen, supporting functional separation between the residences.
Built in 1892, the property combines a pressed red brick exterior with original hardwood floors, chamfered bay windows, stained-glass features, decorative fireplaces, and custom Pella wood windows. The upper kitchen includes Viking and Miele appliances. The garden-level apartment has a gas fireplace, laundry, granite kitchen counters, gas range, and a bay window. A private brick driveway and patio provide off-street parking and outdoor space in Logan Circle, near the 14th Street Corridor and surrounding restaurants, retail, Whole Foods, Vida Fitness, Milk Bar, Starbucks, and Call Your Mother.
Built in 1892, the property combines a pressed red brick exterior with original hardwood floors, chamfered bay windows, stained-glass features, decorative fireplaces, and custom Pella wood windows. The upper kitchen includes Viking and Miele appliances. The garden-level apartment has a gas fireplace, laundry, granite kitchen counters, gas range, and a bay window. A private brick driveway and patio provide off-street parking and outdoor space in Logan Circle, near the 14th Street Corridor and surrounding restaurants, retail, Whole Foods, Vida Fitness, Milk Bar, Starbucks, and Call Your Mother.
Key Highlights
- Four‑level detached duplex with 2,174 SF
- Upper unit has 2 bedrooms, 1 full bath, and 2 half baths
- Lower unit includes 1 bedroom and 1 full 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
$38,952
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
2.82%
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%
$779,040
$779.0K
Cap Rate 7%
$556,457
$556.5K
Cap Rate 9%
$432,800
$432.8K
Market Conditions
NOI Build-Up for 2,174 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
$58.7K $27.00/SF
− Vacancy
−$3.1K −$1.40/SF
EGI
$55.6K $25.60/SF
− OpEx
−$16.7K −$7.68/SF
NOI
$39.0K $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 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%
$779,040
Cap Rate 7%
$556,457
Cap Rate 9%
$432,800
Alternative Uses
Best Use
Multifamily LT 5
$556.5K
$486.9K – $649.2K
NOI $38,952 @ 7.0% cap · market cap 2.82%
Second Best
Apartment 5plus
$516.0K
$451.5K – $602.0K
NOI $36,122 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$1.12M
$978.5K – $1.30M
NOI $78,277 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
15,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 20005, DC
12,953
Population
9,558
Households
1.4
Avg Household Size
35
Median Age
80%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
32,383
Density / Sq Mi
$111,960
Median Household Income
$100,188
Median Earnings
$2,223
Median Rent
$636,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Four-level detached rowhouse with separate utilities, HVAC systems, kitchens, and a private driveway with patio.
Where is this duplex located?
The property is located at 1534 15TH Street NW Washington, DC.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Four‑level detached duplex with 2,174 SF; Upper unit has 2 bedrooms, 1 full bath, and 2 half baths; Lower unit includes 1 bedroom and 1 full bath
