Renovated Victorian
New
For Sale
$1,380,000
1534 15TH Street NW, Washington, DC 20005
Multi-Family, WASHINGTON, DC
Property Size2,174 SF
Lot Size0.02 Acres
Price / SF$634.77
Days on Market6
Property Features for 1534 15TH Street NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room, Basement
Parking
1
Parking features
Off Street, Driveway
Interior features
2nd Kitchen, Breakfast Area, Combination Dining/Living, Dining Area, Kitchen - Gourmet, Wood Floors
Fireplace
1
Appliances
Dryer, Disposal, Dishwasher, Oven/Range - Gas, Refrigerator, Washer, Microwave
Subdivision
LOGAN CIRCLE
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
2,174 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
13353
Utilities
Heating system
Forced Air, Other (Heating)
Cooling system
Central Air
Amenities
off-street parking
laundry
gas fireplace
Building Details
Year built
1892
Number of units
2
Building materials
Brick
Architectural style
Victorian
Listing Agency:
RE/MAX Gateway, LLC · RE/MAX International
(703) 652-7000
Listed By:
Morgan N Knull · License #AB98369768
(202) 431-9867
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 13 at 9:06AM
MLS# DCDC2280394
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,174-square-foot Victorian duplex occupies four levels and includes two distinct residential units. The upper residence offers two bedrooms, one full bath, and two half baths, while the lower unit includes one bedroom and one full bath. Separate electric panels, HVAC systems, and kitchens support independent operation. The property also features original hardwood floors, high ceilings, bay windows, stained-glass details, decorative fireplaces, and brick construction dating to 1892.
Off-street parking is provided through a private driveway and brick patio. The garden-level apartment includes a gas fireplace, laundry, granite kitchen, gas range, and bay window. Located in Logan Circle near Whole Foods, Vida Fitness, Starbucks, Milk Bar, Call Your Mother, and restaurants and retail along the 14th Street Corridor.
Off-street parking is provided through a private driveway and brick patio. The garden-level apartment includes a gas fireplace, laundry, granite kitchen, gas range, and bay window. Located in Logan Circle near Whole Foods, Vida Fitness, Starbucks, Milk Bar, Call Your Mother, and restaurants and retail along the 14th Street Corridor.
Key Highlights
- 2,174‑square‑foot duplex arranged across four levels
- Upper unit with 2 bedrooms, 1 full bath, and 2 half baths
- Lower unit with 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
Check the figures for this property
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 duplex with separate systems, off-street parking, and a finished garden-level apartment.
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: 2,174‑square‑foot duplex arranged across four levels; Upper unit with 2 bedrooms, 1 full bath, and 2 half baths; Lower unit with 1 bedroom and 1 full bath
