Updated Residential Income
For Sale
$625,000
157 FLEET STREET Unit 509, Oxon Hill, MD 20745
Corner condominium residence with river-facing balcony, two bedrooms, dedicated storage, and assigned parking in National Harbor.
Property Size1,785 SF
Price / SF$350.14
Days on Market64
Property Features for 157 FLEET STREET Unit 509
General Information
Standard status
Active
Size
1,785 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$9,104
Building Details
Building Size
1,785 SF
Year Built
2009
Listing Agency:
KW Metro Center
(301) 404-8052
Listed By:
William E Close · License #636621
(301) 404-8052
Source:
Kerishull
Added: Jun 11
Changed: Aug 13
Last Checked: Aug 13 at 5:53AM
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 KW Metro Center
Investment Insights
Based on property information with market context.
This fifth-floor corner condominium residence offers 1,785 square feet with two bedrooms, two fully renovated ensuite bathrooms, and an additional powder room. A flexible entry-area room can serve as an office, den, or reading space. Floor-to-ceiling windows and a private balcony provide views toward Fleet Street, American Way events, the plaza, the jumbo screen, and the Potomac River. Interior improvements include hardwood flooring installed in 2019, recessed lighting, wainscoting, and custom closet organization systems.
The redesigned kitchen features two-tone cabinetry, quartz countertops, pendant lighting, and new stainless steel appliances. The residence includes a new HVAC system from 2026 and a new washer and dryer from 2023. Two assigned parking spaces and a dedicated on-site storage unit convey with the property. The home is located in National Harbor, near waterfront dining, shopping, entertainment, and year-round events.
The redesigned kitchen features two-tone cabinetry, quartz countertops, pendant lighting, and new stainless steel appliances. The residence includes a new HVAC system from 2026 and a new washer and dryer from 2023. Two assigned parking spaces and a dedicated on-site storage unit convey with the property. The home is located in National Harbor, near waterfront dining, shopping, entertainment, and year-round events.
Key Highlights
- Fifth‑floor corner condominium residence with 1,785 square feet
- Two bedrooms with fully renovated ensuite bathrooms
- Private balcony with Potomac River and waterfront views
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
$24,031
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
3.84%
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%
$480,620
$480.6K
Cap Rate 7%
$343,300
$343.3K
Cap Rate 9%
$267,011
$267.0K
Market Conditions
NOI Build-Up for 1,785 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
$46.5K $26.04/SF
− Vacancy
−$2.8K −$1.56/SF
EGI
$43.7K $24.48/SF
− OpEx
−$19.7K −$11.01/SF
NOI
$24.0K $13.46/SF
Area
Prince George's County, MD
Vacancy
6.00%
Lease Rate
$26.04 /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%
$480,620
Cap Rate 7%
$343,300
Cap Rate 9%
$267,011
Alternative Uses
Best Use
Apartment 5plus
$343.3K
$300.4K – $400.5K
NOI $24,031 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$575.8K
$503.9K – $671.8K
NOI $40,308 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Explore this area
Business Placement
Demographics for 20745, MD
32,024
Population
13,124
Households
2.4
Avg Household Size
36
Median Age
26%
College-Educated
82%
High-School Grad
6.5 sq mi
ZIP Area
4,927
Density / Sq Mi
$80,649
Median Household Income
$47,435
Median Earnings
$1,564
Median Rent
$351,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner condominium residence with river-facing balcony, two bedrooms, dedicated storage, and assigned parking in National Harbor.
Where is this residential income property located?
The property is located at 157 FLEET STREET Unit 509 Oxon Hill, MD.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Fifth‑floor corner condominium residence with 1,785 square feet; Two bedrooms with fully renovated ensuite bathrooms; Private balcony with Potomac River and waterfront views
