Residential Income Property with
For Sale
$549,000
1838 4TH STREET NW Unit 2A, Washington, DC 20001
Condominium residence with two bedrooms, a flexible den, natural light, and open living areas.
Property Size1,050 SF
Days on Market184
Property Features for 1838 4TH STREET NW Unit 2A
General Information
Standard status
Active
Size
1,050 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,559
Building Details
Building Size
1,050 SF
Year Built
1910
Listing Agency:
DC Real Property,LLC
Listed By:
Kenn B Blagburn · License #PB98373602
(202) 468-5917
Source:
Kwcapitalproperties
Added: Mar 11
Changed: Sep 6
Last Checked: Sep 10 at 8:45AM
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 DC Real Property,LLC
Investment Insights
Based on property information with market context.
This residential income property is a condominium residence in Washington, DC, with two bedrooms and an additional den. The interior includes bright living areas, large windows, warm finishes, and a kitchen arranged alongside the main living space. The den provides adaptable room for office, guest, or creative use, as described in the property information.
Built in 1910, the property is located at 1838 4th Street NW Unit 2A in the LeDroit Park area. The surrounding setting includes Victorian rowhomes, tree-lined streets, neighborhood parks, and access to Shaw, Bloomingdale, and the U Street corridor. Howard University, Metro access, and downtown Washington, DC, are also identified as nearby conveniences.
Built in 1910, the property is located at 1838 4th Street NW Unit 2A in the LeDroit Park area. The surrounding setting includes Victorian rowhomes, tree-lined streets, neighborhood parks, and access to Shaw, Bloomingdale, and the U Street corridor. Howard University, Metro access, and downtown Washington, DC, are also identified as nearby conveniences.
Key Highlights
- Two‑bedroom condominium with an additional den
- Large windows and bright open living areas
- Kitchen positioned alongside the main living space
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
$17,446
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
3.18%
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%
$348,920
$348.9K
Cap Rate 7%
$249,229
$249.2K
Cap Rate 9%
$193,844
$193.8K
Market Conditions
NOI Build-Up for 1,050 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
$33.4K $31.80/SF
− Vacancy
−$1.7K −$1.59/SF
EGI
$31.7K $30.21/SF
− OpEx
−$14.3K −$13.59/SF
NOI
$17.4K $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%
$348,920
Cap Rate 7%
$249,229
Cap Rate 9%
$193,844
Alternative Uses
Best Use
Apartment 5plus
$249.2K
$218.1K – $290.8K
NOI $17,446 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$540.1K
$472.6K – $630.1K
NOI $37,806 @ 7.0% cap · market cap 6.89%
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
3,820
Businesses Nearby
Explore this area
Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with two bedrooms, a flexible den, natural light, and open living areas.
Where is this residential income property located?
The property is located at 1838 4TH STREET NW Unit 2A Washington, DC.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two‑bedroom condominium with an additional den; Large windows and bright open living areas; Kitchen positioned alongside the main living space
