Renovated One-Bedroom Income
For Sale
$249,500
1601 NORTH CAROLINA AVENUE NE Unit 1, Washington, DC 20002
Updated condominium offers abundant natural light and private outdoor space.
Property Size679 SF
Days on Market112
Property Features for 1601 NORTH CAROLINA AVENUE NE Unit 1
General Information
Standard status
Active
Size
679 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,321
Amenities
in-unit Washer/Dryer
rear patio
Building Details
Building Size
679 SF
Year Built
1956
Listing Agency:
Equilibrium Realty, LLC
Listed By:
Shanu T Okwesa · License #BR200201179
(202) 788-6049
Source:
Kwcapitalproperties
Added: Jun 17
Changed: Oct 5
Last Checked: Oct 5 at 11:36PM
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 Equilibrium Realty, LLC
Investment Insights
Based on property information with market context.
This renovated one-bedroom condominium combines contemporary interiors with practical in-unit features. The residence includes hardwood flooring, stainless steel appliances, quartz countertops, and a bathroom finished with porcelain tile. Large windows on three exposures bring strong natural light throughout the home, while an in-unit washer and dryer adds convenience. A rear patio extends the living area outdoors and overlooks a freshly landscaped lot.
The property is within walking distance of Lincoln Park and Stadium Armory Metro Station. North Carolina Avenue has pedestrian walkways connecting toward the Anacostia Riverwalk Trails. Built in 1956, the condominium offers a refreshed residential setting with a defined indoor-outdoor layout and established neighborhood access.
The property is within walking distance of Lincoln Park and Stadium Armory Metro Station. North Carolina Avenue has pedestrian walkways connecting toward the Anacostia Riverwalk Trails. Built in 1956, the condominium offers a refreshed residential setting with a defined indoor-outdoor layout and established neighborhood access.
Key Highlights
- Renovated one‑bedroom condominium with contemporary interior finishes
- Large windows on three exposures provide abundant natural light
- Hardwood floors, quartz countertops, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,560
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$231,200
$231.2K
Cap Rate 7%
$165,143
$165.1K
Cap Rate 9%
$128,444
$128.4K
Market Conditions
NOI Build-Up for 679 SF
Gross rent
$22.4K $33.00/SF
− Vacancy
−$1.4K −$2.05/SF
EGI
$21.0K $30.95/SF
− OpEx
−$9.5K −$13.93/SF
NOI
$11.6K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$231,200
Cap Rate 7%
$165,143
Cap Rate 9%
$128,444
Alternative Uses
Best Use
Apartment 5plus
$165.1K
$144.5K – $192.7K
NOI $11,560 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$350.6K
$306.8K – $409.0K
NOI $24,540 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,641
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium offers abundant natural light and private outdoor space.
Where is this residential income property located?
The property is located at 1601 NORTH CAROLINA AVENUE NE Unit 1 Washington, DC.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: Renovated one‑bedroom condominium with contemporary interior finishes; Large windows on three exposures provide abundant natural light; Hardwood floors, quartz countertops, and stainless steel appliances
