New Residential Income
For Sale
$257,900
1625 ECKINGTON PLACE NE Unit 407, Washington, DC 20002
Move-in-ready 80% MFI unit with designer finishes and Bosch appliances in a newly built residential community.
Property Size655 SF
Days on Market108
Property Features for 1625 ECKINGTON PLACE NE Unit 407
General Information
Standard status
Active
Size
655 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Building Details
Building Size
655 SF
Year Built
2021
Listing Agency:
McWilliams/Ballard Inc.
Listed By:
Lee A Beaudoin
(215) 284-2178
Source:
Kwcapitalproperties
Added: Jun 21
Changed: Oct 5
Last Checked: Oct 5 at 10:36PM
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 McWilliams/Ballard Inc.
Investment Insights
Based on property information with market context.
Unit 407 at 1625 Eckington Place NE is a move-in-ready residential income property completed in 2021. The home features designer vinyl flooring with a hardwood appearance, high ceilings, quartz countertops, and a tiled bathroom finished with accent fixtures. Bosch appliances include a bottom-freezer refrigerator, dishwasher, microwave/oven combination, and stacked front-load washer and dryer.
The residence is an 80% MFI Inclusionary Zoning unit within the DHCD program, and prospective buyers must receive program approval. Its Washington, DC setting provides proximity to the H Street Corridor and Union Market, with access to dining, culture, nightlife, and Union Station.
The residence is an 80% MFI Inclusionary Zoning unit within the DHCD program, and prospective buyers must receive program approval. Its Washington, DC setting provides proximity to the H Street Corridor and Union Market, with access to dining, culture, nightlife, and Union Station.
Key Highlights
- 80% MFI Inclusionary Zoning unit requiring DHCD program approval
- Completed in 2021 and offered move‑in ready
- Quartz countertops, high ceilings, and designer vinyl flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,151
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,020
$223.0K
Cap Rate 7%
$159,300
$159.3K
Cap Rate 9%
$123,900
$123.9K
Market Conditions
NOI Build-Up for 655 SF
Gross rent
$21.6K $33.00/SF
− Vacancy
−$1.3K −$2.05/SF
EGI
$20.3K $30.95/SF
− OpEx
−$9.1K −$13.93/SF
NOI
$11.2K $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%
$223,020
Cap Rate 7%
$159,300
Cap Rate 9%
$123,900
Alternative Uses
Best Use
Apartment 5plus
$159.3K
$139.4K – $185.9K
NOI $11,151 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$338.2K
$295.9K – $394.5K
NOI $23,672 @ 7.0% cap · market cap 9.18%
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
2,432
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Move-in-ready 80% MFI unit with designer finishes and Bosch appliances in a newly built residential community.
Where is this residential income property located?
The property is located at 1625 ECKINGTON PLACE NE Unit 407 Washington, DC.
What is the asking price?
The asking price for this property is $257,900.
What are key features of this property?
This property features: 80% MFI Inclusionary Zoning unit requiring DHCD program approval; Completed in 2021 and offered move‑in ready; Quartz countertops, high ceilings, and designer vinyl flooring
