Four-Unit Residential Income
For Sale
$624,900
1824 D STREET NE #3, Washington, DC 20002
Upper-level residence with flexible living space, private outdoor areas, parking, and access to Capitol Hill amenities.
Property Size1,470 SF
Price / SF$425.10
Days on Market121
Property Features for 1824 D STREET NE #3
General Information
Standard status
Active
Size
1,470 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR+den/3BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
stone countertops
stainless steel appliances
hardwood floors
private roof deck
shared backyard
interior staircase
private bath
dual-head shower
designer bath
Central A/C
Forced Air
Disposal
Oven/Range - Gas
Refrigerator
WaterHeater
Exhaust Fan
Icemaker
Freezer
Built-In Microwave
Built-In Range
Dishwasher
Stainless Steel Appliances
Washer/Dryer Stacked
Deck
Building Details
Year Built
1937
Listing Agency:
Washington Capitol Hill
Listed By:
John Coleman · License #SP98375761
(202) 427-9689
Source:
Kw
Added: May 5
Changed: Sep 2
Last Checked: Sep 1 at 4:50PM
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 Washington Capitol Hill
Investment Insights
Based on property information with market context.
Positioned on the upper levels of a four-unit building, this residence provides approximately 1,470 square feet across two floors. The layout includes three bedrooms, a den, and three full baths, with the main level combining the kitchen, dining area, and living room. The kitchen includes stone countertops, stainless steel appliances, hardwood flooring, and modern finishes. A bedroom with an attached bath occupies the main floor, while the upper level adds two bedrooms, including a primary suite with generous closet space and a dual-head shower bath. A den provides additional interior flexibility.
The home also includes a 360-square-foot private roof deck reached by an interior staircase, along with access to a shared backyard and included parking. Central A/C, forced air, a stacked washer and dryer, and additional kitchen appliances are present. Built in 1937, the property is located at 1824 D Street NE in Washington, DC, near Stadium-Armory Metro and Capitol Hill cafes. The roof deck has sightlines toward the RFK campus redevelopment, whose approved plan includes housing, retail, and recreation.
The home also includes a 360-square-foot private roof deck reached by an interior staircase, along with access to a shared backyard and included parking. Central A/C, forced air, a stacked washer and dryer, and additional kitchen appliances are present. Built in 1937, the property is located at 1824 D Street NE in Washington, DC, near Stadium-Armory Metro and Capitol Hill cafes. The roof deck has sightlines toward the RFK campus redevelopment, whose approved plan includes housing, retail, and recreation.
Key Highlights
- Approximately 1,470 square feet arranged across two levels
- Three bedrooms, a den, and three full baths
- 360‑square‑foot private roof deck with interior stair access
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
$25,026
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
4.00%
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%
$500,520
$500.5K
Cap Rate 7%
$357,514
$357.5K
Cap Rate 9%
$278,067
$278.1K
Market Conditions
NOI Build-Up for 1,470 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
$48.5K $33.00/SF
− Vacancy
−$3.0K −$2.05/SF
EGI
$45.5K $30.95/SF
− OpEx
−$20.5K −$13.93/SF
NOI
$25.0K $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 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%
$500,520
Cap Rate 7%
$357,514
Cap Rate 9%
$278,067
Alternative Uses
Best Use
Apartment 5plus
$357.5K
$312.8K – $417.1K
NOI $25,026 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$759.0K
$664.1K – $885.5K
NOI $53,127 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level residence with flexible living space, private outdoor areas, parking, and access to Capitol Hill amenities.
Where is this residential income property located?
The property is located at 1824 D STREET NE #3 Washington, DC.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Approximately 1,470 square feet arranged across two levels; Three bedrooms, a den, and three full baths; 360‑square‑foot private roof deck with interior stair access
