Residential Income Property with
For Sale
$339,000
Pending
1840 D STREET NE Unit 4, Washington, DC 20002
Condo layout features a private rear entry, updated full bathrooms, hardwood floors, and in-unit laundry.
Property Size757 SF
Days on Market97
Property Features for 1840 D STREET NE Unit 4
General Information
Standard status
Pending
Size
757 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$997
Amenities
in-unit laundry
hardwood flooring
recessed lighting
skylight
granite countertops
stainless steel appliances
private rear entrance
Building Details
Building Size
757 SF
Year Built
1940
Listing Agency:
Cornerstone Real Estate LLC
Listed By:
Steven R Taylor · License #SP98361987
(202) 999-0715
Source:
Kwcapitalproperties
Added: Jun 11
Changed: Sep 8
Last Checked: Sep 14 at 9:34AM
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 Cornerstone Real Estate LLC
Investment Insights
Based on property information with market context.
This residential income property is a 2-bedroom, 2-bath condominium with an open living area illuminated by a large skylight. The floor plan separates the bedrooms, while a private rear entrance leads directly into the rear bedroom. The kitchen connects to the main living space and includes granite countertops, stainless steel appliances, and substantial cabinet storage. Both full bathrooms have been updated, and the residence also offers hardwood flooring, recessed lighting, in-unit laundry, and assigned off-street parking.
Recent improvements include the HVAC system, water heater, and building roof. Built in 1940, the property is located in Washington’s Kingman Park neighborhood, near Stadium-Armory Metro, the H Street Corridor, Lincoln Park, Kingman Island, the Anacostia River Trail, and the planned RFK redevelopment.
Recent improvements include the HVAC system, water heater, and building roof. Built in 1940, the property is located in Washington’s Kingman Park neighborhood, near Stadium-Armory Metro, the H Street Corridor, Lincoln Park, Kingman Island, the Anacostia River Trail, and the planned RFK redevelopment.
Key Highlights
- 2‑bedroom, 2‑bath condominium with a skylit open living area
- Private rear entrance provides direct access to the rear bedroom
- Updated full bathrooms, HVAC system, water heater, and building roof
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
$12,888
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
3.80%
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%
$257,760
$257.8K
Cap Rate 7%
$184,114
$184.1K
Cap Rate 9%
$143,200
$143.2K
Market Conditions
NOI Build-Up for 757 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
$25.0K $33.00/SF
− Vacancy
−$1.5K −$2.05/SF
EGI
$23.4K $30.95/SF
− OpEx
−$10.5K −$13.93/SF
NOI
$12.9K $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%
$257,760
Cap Rate 7%
$184,114
Cap Rate 9%
$143,200
Alternative Uses
Best Use
Apartment 5plus
$184.1K
$161.1K – $214.8K
NOI $12,888 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$390.8K
$342.0K – $456.0K
NOI $27,359 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,189
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo layout features a private rear entry, updated full bathrooms, hardwood floors, and in-unit laundry.
Where is this residential income property located?
The property is located at 1840 D STREET NE Unit 4 Washington, DC.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium with a skylit open living area; Private rear entrance provides direct access to the rear bedroom; Updated full bathrooms, HVAC system, water heater, and building roof
