Four-Unit Brick
For Sale
$1,200,000
1616 ISHERWOOD Street NE, Washington, DC 20002
Multi-Family, WASHINGTON, DC
Property Size3,202 SF
Lot Size0.08 Acres
Price / SF$374.77
Days on Market174
Property Features for 1616 ISHERWOOD Street NE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
On Street
Interior features
Bathroom - Stall Shower, Bathroom - Tub Shower, Floor Plan - Traditional, Floor Plan - Open
Appliances
Refrigerator, Stove
Subdivision
KINGMAN PARK
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
3,202 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
9516
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1932
Number of units
4
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Norman Slye · License #SP98375116
(302) 480-0070
Added: Mar 10
Changed: Aug 24
Last Checked: Aug 30 at 10:06AM
MLS# DCDC2249580
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.
Located at 1616 Isherwood Street NE in Washington, DC, this four-unit quadplex contains 3,202 square feet on a 0.0781-acre lot. Built in 1932 with brick construction and Colonial styling, the property includes traditional and open floor-plan elements, stall-shower and tub-shower bathrooms, refrigerators, and stoves. Heating is provided by forced air, with central air conditioning throughout the building.
One unit is occupied through the Section 8 / HCV program, while three units are vacant. All units have been updated to current code standards. On-street parking is available. The property is situated in Kingman Park with access to dining, retail, parks, and transit, and is located near Capitol Hill, the H Street Corridor, and the RFK Stadium redevelopment site.
One unit is occupied through the Section 8 / HCV program, while three units are vacant. All units have been updated to current code standards. On-street parking is available. The property is situated in Kingman Park with access to dining, retail, parks, and transit, and is located near Capitol Hill, the H Street Corridor, and the RFK Stadium redevelopment site.
Key Highlights
- Four‑unit multifamily property with 3,202 square feet of building area
- One Section 8 / HCV‑subsidized unit and three vacant units
- 0.0781‑acre lot at 1616 Isherwood Street NE
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
$61,002
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
5.08%
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%
$1,220,040
$1.2M
Cap Rate 7%
$871,457
$871.5K
Cap Rate 9%
$677,800
$677.8K
Market Conditions
NOI Build-Up for 3,202 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
$92.2K $28.80/SF
− Vacancy
−$5.1K −$1.58/SF
EGI
$87.1K $27.22/SF
− OpEx
−$26.1K −$8.16/SF
NOI
$61.0K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /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%
$1,220,040
Cap Rate 7%
$871,457
Cap Rate 9%
$677,800
Alternative Uses
Best Use
Multifamily LT 5
$871.5K
$762.5K – $1.02M
NOI $61,002 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$778.8K
$681.4K – $908.6K
NOI $54,513 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,724 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,432
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated residential units offer central air, forced-air heat, and standard kitchen appliances.
Where is this quadplex located?
The property is located at 1616 ISHERWOOD Street NE Washington, DC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 3,202 square feet of building area; One Section 8 / HCV‑subsidized unit and three vacant units; 0.0781‑acre lot at 1616 Isherwood Street NE
