Two-Unit Duplex with Basement
For Sale
$529,900
1547 3rd St NW, Washington, DC 20001
Separately metered residential property with two two-bedroom units offered in as-is condition.
Property Size1,790 SF
Price / SF$296.03
Days on Market46
Property Features for 1547 3rd St NW
General Information
Standard status
Active
Size
1,790 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
laundry facility
Building Details
Year Built
1906
Listing Agency:
EXP Realty, LLC
(202) 379-5868
Listed By:
Michael A Hines · License #SP98365254
Source:
Gklegacygroup
Added: Jul 16
Changed: Aug 29
Last Checked: Aug 25 at 4:42AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1,790-square-foot duplex, built in 1906, contains two residential units with a two-bedroom layout in each. Separate laundry facilities are located in the basement, and the property is separately metered. The sale is offered in as-is condition.
Located at 1547 3rd St NW in Washington, DC, the property is near downtown. Its two-unit configuration and existing separate metering provide a clearly defined residential setup within the building.
Located at 1547 3rd St NW in Washington, DC, the property is near downtown. Its two-unit configuration and existing separate metering provide a clearly defined residential setup within the building.
Key Highlights
- Two two‑bedroom residential units
- 1,790 SF duplex built in 1906
- Separate laundry facilities in the basement
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
$32,072
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
6.05%
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%
$641,440
$641.4K
Cap Rate 7%
$458,171
$458.2K
Cap Rate 9%
$356,356
$356.4K
Market Conditions
NOI Build-Up for 1,790 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
$48.3K $27.00/SF
− Vacancy
−$2.5K −$1.40/SF
EGI
$45.8K $25.60/SF
− OpEx
−$13.7K −$7.68/SF
NOI
$32.1K $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%
$641,440
Cap Rate 7%
$458,171
Cap Rate 9%
$356,356
Alternative Uses
Best Use
Multifamily LT 5
$458.2K
$400.9K – $534.5K
NOI $32,072 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$424.9K
$371.8K – $495.7K
NOI $29,742 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$920.7K
$805.6K – $1.07M
NOI $64,450 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,923
Businesses Nearby
Explore this area
Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separately metered residential property with two two-bedroom units offered in as-is condition.
Where is this duplex located?
The property is located at 1547 3rd St NW Washington, DC.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Two two‑bedroom residential units; 1,790 SF duplex built in 1906; Separate laundry facilities in the basement
