Updated Two-Unit
For Sale
$510,000
1729-1731 Gales Place Northeast, Washington, DC 20002
Two independent one-bedroom residences offer private entrances, central HVAC, hardwood floors, and front and rear outdoor areas.
Property Size1,120 SF
Price / SF$455.36
Days on Market437
Property Features for 1729-1731 Gales Place Northeast
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RF1
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,089
Amenities
central HVAC
hardwood floors
private entrances
Jacuzzi
front and rear yard
alley access
No
Dishwasher, Refrigerator, Water Heater, Oven/Range - Gas, Built-In Microwave
Bathroom - Soaking Tub, Combination Dining/Living, Wood Floors
https://www.realtourinc.com/tours/1032915?t=mris
No Pool
Building Details
Year Built
1949
Listing Agency:
RE/MAX Excellence Realty
(202) 486-5003
Listed By:
Jacqueline Bennett · License #91849
(202) 486-5003
Source:
Compass
Added: Jun 20, 2025
Changed: Aug 29
Last Checked: Aug 29 at 4:38PM
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 RE/MAX Excellence Realty
Investment Insights
Based on property information with market context.
This 1949 duplex contains two independent one-bedroom residences within 1,120 square feet. Each unit has its own front and rear entrance, central HVAC, kitchen, bath, and combination dining and living area. Interior improvements include fresh paint, updated finishes, hardwood flooring, a dishwasher, refrigerator, gas range, built-in microwave, and water heater. One bathroom includes a soaking tub, and the property information also identifies a Jacuzzi.
The property is positioned near the H Street corridor and adjacent to Kingman Park. Bus service and a Metro/Subway Station are each less than 1 mile away, while the nearest airport is less than 10 miles away. Front and rear yard areas add outdoor space, and alley access supports parking or gardening. The property is zoned RF1 and is served by District of Columbia Public Schools.
The property is positioned near the H Street corridor and adjacent to Kingman Park. Bus service and a Metro/Subway Station are each less than 1 mile away, while the nearest airport is less than 10 miles away. Front and rear yard areas add outdoor space, and alley access supports parking or gardening. The property is zoned RF1 and is served by District of Columbia Public Schools.
Key Highlights
- Two independent one‑bedroom units within 1,120 square feet
- Each residence has private front and rear entrances plus central HVAC
- 1949 construction with fresh paint, updated finishes, and hardwood floors
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
$21,337
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
4.18%
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%
$426,740
$426.7K
Cap Rate 7%
$304,814
$304.8K
Cap Rate 9%
$237,078
$237.1K
Market Conditions
NOI Build-Up for 1,120 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
$32.3K $28.80/SF
− Vacancy
−$1.8K −$1.58/SF
EGI
$30.5K $27.22/SF
− OpEx
−$9.1K −$8.16/SF
NOI
$21.3K $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%
$426,740
Cap Rate 7%
$304,814
Cap Rate 9%
$237,078
Alternative Uses
Best Use
Multifamily LT 5
$304.8K
$266.7K – $355.6K
NOI $21,337 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$272.4K
$238.4K – $317.8K
NOI $19,068 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$578.3K
$506.0K – $674.6K
NOI $40,478 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,439
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?
Duplex - Two independent one-bedroom residences offer private entrances, central HVAC, hardwood floors, and front and rear outdoor areas.
Where is this duplex located?
The property is located at 1729-1731 Gales Place Northeast Washington, DC.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Two independent one‑bedroom units within 1,120 square feet; Each residence has private front and rear entrances plus central HVAC; 1949 construction with fresh paint, updated finishes, and hardwood floors
