Detached Brick
New
For Sale
$999,900
1902 LINCOLN ROAD NE, Washington, DC 20002
Two separately entered residences provide flexible living arrangements with dedicated laundry for each unit.
Property Size2,129 SF
Days on Market4
Property Features for 1902 LINCOLN ROAD NE
General Information
Standard status
Active
Size
2,129 SF
Total Parking Spaces
3
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,277
Amenities
hardwood floors
exposed brick
updated kitchen
sunroom
front porch
private rear deck
brick patio
washer/dryer
Building Details
Building Size
2,129 SF
Year Built
1917
Buildings
1
Construction
brick
Listing Agency:
Corcoran McEnearney
Listed By:
Eric Fafoglia · License #SP200203054
(202) 568-3545
Source:
Kwcapitalproperties
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 14 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 Corcoran McEnearney
Investment Insights
Based on property information with market context.
This detached brick duplex, built in 1917, combines a three-bedroom, one-and-a-half-bath upper residence with a separate two-bedroom, one-bath lower unit. The main home includes hardwood flooring, exposed brick, period trim, an eat-in kitchen with stainless steel appliances and granite countertops, plus a sunroom. The lower residence has its own kitchen, living area, and entrance. Each unit is equipped with a separate washer and dryer setup.
Outdoor features include a front porch, rear deck, brick patio, and driveway parking for up to 3 cars. The property is in Eckington near the Metropolitan Branch Trail, Crispus Attucks Park, Alethia Tanner Dog Park, The Red Hen, Lost Generation Brewing, and Yang's Market. Union Market, NoMa, and Shaw are also within easy reach.
Outdoor features include a front porch, rear deck, brick patio, and driveway parking for up to 3 cars. The property is in Eckington near the Metropolitan Branch Trail, Crispus Attucks Park, Alethia Tanner Dog Park, The Red Hen, Lost Generation Brewing, and Yang's Market. Union Market, NoMa, and Shaw are also within easy reach.
Key Highlights
- Detached brick duplex with two separate residences
- Upper unit offers 3 bedrooms and 1.5 baths
- Lower residence includes 2 bedrooms and 1 full bath
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
$40,560
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
4.06%
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%
$811,200
$811.2K
Cap Rate 7%
$579,429
$579.4K
Cap Rate 9%
$450,667
$450.7K
Market Conditions
NOI Build-Up for 2,129 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
$61.3K $28.80/SF
− Vacancy
−$3.4K −$1.58/SF
EGI
$57.9K $27.22/SF
− OpEx
−$17.4K −$8.16/SF
NOI
$40.6K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$811,200
Cap Rate 7%
$579,429
Cap Rate 9%
$450,667
Alternative Uses
Best Use
Multifamily LT 5
$579.4K
$507.0K – $676.0K
NOI $40,560 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$517.8K
$453.1K – $604.1K
NOI $36,246 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.10M
$961.8K – $1.28M
NOI $76,944 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,005
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately entered residences provide flexible living arrangements with dedicated laundry for each unit.
Where is this duplex located?
The property is located at 1902 LINCOLN ROAD NE Washington, DC.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Detached brick duplex with two separate residences; Upper unit offers 3 bedrooms and 1.5 baths; Lower residence includes 2 bedrooms and 1 full bath
