Separately Metered
For Sale
$1,199,900
1650 F Street Northeast, Washington, DC 20002
Two self-contained residences offer individual HVAC, hot water systems, and separate utility metering.
Property Size2,461 SF
Price / SF$487.57
Days on Market287
Property Features for 1650 F Street Northeast
General Information
Standard status
Active
Size
2,461 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RF1
Occupancy
100%
Net Operating Income
$93,672
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,850
Amenities
No
Built-In Microwave, Dishwasher, Disposal, Dryer, Exhaust Fan, Range Hood, Refrigerator, Stove, Washer, Washer/Dryer Stacked, Water Heater
Double Pane
Carbon Monoxide Detector(s), Smoke Detector
No Pool
Building Details
Year Built
1975
Listing Agency:
Long & Foster Real Estate, Inc.
(202) 256-7039
Listed By:
Samuel R Davis · License #ab95309
(202) 256-7039
Source:
Compass
Added: Nov 18, 2025
Changed: Aug 30
Last Checked: Aug 31 at 10:01PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This Washington, DC duplex contains two self-contained residences within 2,461 square feet. Each unit has separate utility metering, its own HVAC system, and an individual hot water heater. Interior equipment includes a range, refrigerator, dishwasher, disposal, built-in microwave, washer, and dryer. Double-pane windows and carbon monoxide and smoke detectors are also included. The property was built in 1975.
Located at 1650 F Street Northeast, the property is within Washington, DC city limits and is zoned RF1. Both units are currently leased to Section 8 tenants, reflecting 100% occupancy. The property is served by District of Columbia Public Schools.
Located at 1650 F Street Northeast, the property is within Washington, DC city limits and is zoned RF1. Both units are currently leased to Section 8 tenants, reflecting 100% occupancy. The property is served by District of Columbia Public Schools.
Key Highlights
- Two‑unit duplex totaling 2,461 square feet
- Separate utility metering for each residence
- Individual HVAC systems and hot water heaters
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
$46,885
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
3.91%
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%
$937,700
$937.7K
Cap Rate 7%
$669,786
$669.8K
Cap Rate 9%
$520,944
$520.9K
Market Conditions
NOI Build-Up for 2,461 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
$70.9K $28.80/SF
− Vacancy
−$3.9K −$1.58/SF
EGI
$67.0K $27.22/SF
− OpEx
−$20.1K −$8.16/SF
NOI
$46.9K $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%
$937,700
Cap Rate 7%
$669,786
Cap Rate 9%
$520,944
Alternative Uses
Best Use
Multifamily LT 5
$669.8K
$586.1K – $781.4K
NOI $46,885 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$598.5K
$523.7K – $698.3K
NOI $41,898 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,943 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,065
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two self-contained residences offer individual HVAC, hot water systems, and separate utility metering.
Where is this duplex located?
The property is located at 1650 F Street Northeast Washington, DC.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,461 square feet; Separate utility metering for each residence; Individual HVAC systems and hot water heaters
