Residential Income Property with Updated
For Sale
$398,000
Pending
2010 KALORAMA ROAD NW Unit 202, Washington, DC 20009
Condominium residence with a windowed kitchen, dedicated dining area, hardwood flooring, and abundant storage.
Property Size596 SF
Days on Market21
Property Features for 2010 KALORAMA ROAD NW Unit 202
General Information
Standard status
Pending
Size
596 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
HOA Fee
$335
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,133
Amenities
common laundry room
Building Details
Building Size
596 SF
Year Built
1923
Listing Agency:
Washington Fine Properties, LLC
Listed By:
Nancy S. Itteilag · License #SP00090954
(202) 905-7762
Source:
Kwcapitalproperties
Added: Aug 26
Changed: Sep 10
Last Checked: Sep 14 at 8:00AM
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 Fine Properties, LLC
Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condominium residence is located in a 1923 building and combines period character with practical interior features. The home has 9-foot ceilings, hardwood floors, large windows, a separate dining area, and a bedroom sized for a king-size bed. Storage includes a walk-in closet and an additional linen closet.
The windowed kitchen is equipped with granite countertops, stainless steel appliances, a gas range, and substantial cabinetry. The bathroom includes a full tub and shower. In-unit laundry may be added with board approval, while a shared laundry room is available on the first floor. The building is pet-friendly and sits one block from Kalorama Park, between the Woodley Park and Dupont Circle Metro stations, with access to Adams Morgan, Rock Creek Park, the National Zoo, restaurants, grocery stores, and bus routes.
The windowed kitchen is equipped with granite countertops, stainless steel appliances, a gas range, and substantial cabinetry. The bathroom includes a full tub and shower. In-unit laundry may be added with board approval, while a shared laundry room is available on the first floor. The building is pet-friendly and sits one block from Kalorama Park, between the Woodley Park and Dupont Circle Metro stations, with access to Adams Morgan, Rock Creek Park, the National Zoo, restaurants, grocery stores, and bus routes.
Key Highlights
- One‑bedroom, one‑bath condominium residence in a 1923 building
- 9‑foot ceilings, hardwood floors, and large windows
- Windowed kitchen with granite counters, stainless steel appliances, gas range, and ample cabinetry
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
$11,598
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
2.91%
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%
$231,960
$232.0K
Cap Rate 7%
$165,686
$165.7K
Cap Rate 9%
$128,867
$128.9K
Market Conditions
NOI Build-Up for 596 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
$22.4K $37.56/SF
− Vacancy
−$1.3K −$2.18/SF
EGI
$21.1K $35.38/SF
− OpEx
−$9.5K −$15.92/SF
NOI
$11.6K $19.46/SF
Area
ZIP 20009
Vacancy
5.80%
Lease Rate
$37.56 /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%
$231,960
Cap Rate 7%
$165,686
Cap Rate 9%
$128,867
Alternative Uses
Best Use
Apartment 5plus
$165.7K
$145.0K – $193.3K
NOI $11,598 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$306.6K
$268.2K – $357.7K
NOI $21,459 @ 7.0% cap · market cap 5.39%
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
4,413
Businesses Nearby
Explore this area
Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with a windowed kitchen, dedicated dining area, hardwood flooring, and abundant storage.
Where is this residential income property located?
The property is located at 2010 KALORAMA ROAD NW Unit 202 Washington, DC.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath condominium residence in a 1923 building; 9‑foot ceilings, hardwood floors, and large windows; Windowed kitchen with granite counters, stainless steel appliances, gas range, and ample cabinetry
