Updated Residential Income
For Sale
$249,900
1816 KALORAMA ROAD NW Unit 304, Washington, DC 20009
Studio residence with a renovated kitchen, custom storage, and elevator-served access in a boutique building.
Property Size410 SF
Days on Market45
Property Features for 1816 KALORAMA ROAD NW Unit 304
General Information
Standard status
Active
Size
410 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1,902
Building Details
Building Size
410 SF
Year Built
1910
Listing Agency:
Real Broker, LLC - Gaithersburg
Listed By:
Colin R McKevitt · License #SP200200531
(240) 593-7644
Source:
Kwcapitalproperties
Added: Jul 31
Changed: Aug 28
Last Checked: Sep 13 at 12:15PM
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 Real Broker, LLC - Gaithersburg
Investment Insights
Based on property information with market context.
This studio residence offers approximately 410 square feet with an efficient layout, eastern exposure, herringbone-pattern flooring, crown molding, and LED lighting. A walk-in closet with custom shelving adds substantial storage. The kitchen includes granite countertops, cherry cabinetry, stainless steel appliances, a Frigidaire gas range, an Edgestar dishwasher, and a garbage disposal. The full bathroom features a bathtub, tile flooring, Kohler fixtures, and a storage-equipped vanity.
The property is located at 1816 Kalorama Road NW in Washington, DC, within Adams Morgan and near Woodley Park, Dupont Circle, and the U Street Metro stations. Building amenities include secured entry, elevator access, community laundry, and additional storage. The neighborhood has a Walk Score of 98 and offers nearby restaurants, cafés, bars, shops, nightlife, parks, and other neighborhood businesses.
The property is located at 1816 Kalorama Road NW in Washington, DC, within Adams Morgan and near Woodley Park, Dupont Circle, and the U Street Metro stations. Building amenities include secured entry, elevator access, community laundry, and additional storage. The neighborhood has a Walk Score of 98 and offers nearby restaurants, cafés, bars, shops, nightlife, parks, and other neighborhood businesses.
Key Highlights
- Approximately 410 square feet of studio living space
- Updated kitchen with granite counters, cherry cabinetry, and stainless appliances
- Walk‑in closet fitted with custom shelving
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
$7,979
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
3.19%
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%
$159,580
$159.6K
Cap Rate 7%
$113,986
$114.0K
Cap Rate 9%
$88,656
$88.7K
Market Conditions
NOI Build-Up for 410 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
$15.4K $37.56/SF
− Vacancy
−$893 −$2.18/SF
EGI
$14.5K $35.38/SF
− OpEx
−$6.5K −$15.92/SF
NOI
$8.0K $19.46/SF
Area
ZIP 20009
Vacancy
5.80%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
45.00%
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%
$159,580
Cap Rate 7%
$113,986
Cap Rate 9%
$88,656
Alternative Uses
Best Use
Apartment 5plus
$114.0K
$99.7K – $133.0K
NOI $7,979 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$210.9K
$184.5K – $246.0K
NOI $14,762 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,984
Businesses Nearby
Explore this area
Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Studio residence with a renovated kitchen, custom storage, and elevator-served access in a boutique building.
Where is this residential income property located?
The property is located at 1816 KALORAMA ROAD NW Unit 304 Washington, DC.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Approximately 410 square feet of studio living space; Updated kitchen with granite counters, cherry cabinetry, and stainless appliances; Walk‑in closet fitted with custom shelving
