Top-Floor Residential Income
For Sale
$369,000
1836 INDEPENDENCE AVENUE SE Unit 4, Washington, DC 20003
Updated one-bedroom residence with a den, hardwood floors, in-unit laundry, and shared outdoor space near Metro access.
Property Size698 SF
Price / SF$527.14
Days on Market9
Property Features for 1836 INDEPENDENCE AVENUE SE Unit 4
General Information
Standard status
Active
Size
698 SF
Property subtype
Unit/Flat/Apartment
Financials
Asking Price
$369,000
HOA Fee
$250
Units
Unit Mix
1 x 1BR + DEN
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,594
Amenities
in-unit laundry
shared yard and patio
Building Details
Building Size
698 SF
Year Built
1936
Listing Agency:
Northgate Realty, LLC
Listed By:
Constantina A Paxenos · License #SP98365796
(202) 256-1624
Source:
Kwcapitalproperties
Added: Sep 6
Changed: Sep 10
Last Checked: Sep 13 at 12:23PM
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 Northgate Realty, LLC
Investment Insights
Based on property information with market context.
Top-floor residence in a 4-unit building, offering nearly 700 SF with a large bedroom and a separate den suitable for office or guest use. The interior includes hardwood floors, in-unit laundry, updated HVAC installed in 2023, and a water heater replaced in 2022. A fully fenced shared yard and patio add outdoor space to the property.
The home is located at 1836 Independence Avenue SE in Washington, DC, approximately 1/2 block from the Stadium-Armory Metro station. Capitol Hill is minutes away, and the 180-acre RFK campus transformation is planned to include housing, restaurants, retail, entertainment, parks, recreation, and improved connections to the Anacostia River.
The home is located at 1836 Independence Avenue SE in Washington, DC, approximately 1/2 block from the Stadium-Armory Metro station. Capitol Hill is minutes away, and the 180-acre RFK campus transformation is planned to include housing, restaurants, retail, entertainment, parks, recreation, and improved connections to the Anacostia River.
Key Highlights
- Nearly 700 SF top‑floor residence with 1BR + DEN
- Located 1/2 block from Stadium‑Armory Metro
- Updated HVAC installed in 2023
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
$11,631
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
3.15%
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%
$232,620
$232.6K
Cap Rate 7%
$166,157
$166.2K
Cap Rate 9%
$129,233
$129.2K
Market Conditions
NOI Build-Up for 700 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
$22.3K $31.80/SF
− Vacancy
−$1.1K −$1.59/SF
EGI
$21.1K $30.21/SF
− OpEx
−$9.5K −$13.59/SF
NOI
$11.6K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /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%
$232,620
Cap Rate 7%
$166,157
Cap Rate 9%
$129,233
Alternative Uses
Best Use
Apartment 5plus
$166.2K
$145.4K – $193.9K
NOI $11,631 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$360.1K
$315.1K – $420.1K
NOI $25,204 @ 7.0% cap · market cap 6.83%
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
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 20003, DC
36,501
Population
20,817
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
15,870
Density / Sq Mi
$159,604
Median Household Income
$107,846
Median Earnings
$2,630
Median Rent
$954,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated one-bedroom residence with a den, hardwood floors, in-unit laundry, and shared outdoor space near Metro access.
Where is this residential income property located?
The property is located at 1836 INDEPENDENCE AVENUE SE Unit 4 Washington, DC.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Nearly 700 SF top‑floor residence with 1BR + DEN; Located 1/2 block from Stadium‑Armory Metro; Updated HVAC installed in 2023
