Two-Unit Duplex with
For Sale
$795,000
Pending
2022 4TH STREET NE, Washington, DC 20002
Flexible residential income property with a one-bedroom lower apartment and a three-bedroom upper residence.
Property Size1,250 SF
Days on Market15
Property Features for 2022 4TH STREET NE
General Information
Standard status
Pending
Size
1,250 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
front porch
rear entrance
new kitchen appliances
new washer/dryer
Building Details
Year Built
1915
Listing Agency:
Samson Properties
(240) 417-9685
Listed By:
Kenneth T Aderotoye · License #SP98836
(240) 417-9685
Source:
Cummingsrealtors
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 28 at 11:33AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This 1915 duplex contains two distinct residences arranged for flexible occupancy. The lower-level apartment includes 1 bedroom, 1 bathroom, a full kitchen, and a living room. The upper residence offers 3 bedrooms, 2.5 bathrooms, open living areas, new kitchen appliances, and a new full-size washer and dryer. A front porch, separate rear entrance, and private rear parking pad add to the property's functional layout.
Located at 2022 4th Street NE in Washington, DC, the property is near Union Market, the NoMa district, Gallaudet University, Capitol Hill, and downtown Washington. Transportation options include the nearby NoMa-Gallaudet U Metro Station on the Red Line, multiple Metrobus routes, and major commuter corridors. Nearby parks, walking and biking trails, coffee shops, and breweries further define the surrounding neighborhood.
Located at 2022 4th Street NE in Washington, DC, the property is near Union Market, the NoMa district, Gallaudet University, Capitol Hill, and downtown Washington. Transportation options include the nearby NoMa-Gallaudet U Metro Station on the Red Line, multiple Metrobus routes, and major commuter corridors. Nearby parks, walking and biking trails, coffee shops, and breweries further define the surrounding neighborhood.
Key Highlights
- Two‑unit duplex at 2022 4th Street NE, Washington, DC 20002
- Lower‑level unit includes 1 bedroom, 1 bathroom, full kitchen, and living room
- Upper residence features 3 bedrooms and 2.5 bathrooms
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
$23,814
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
3.00%
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%
$476,280
$476.3K
Cap Rate 7%
$340,200
$340.2K
Cap Rate 9%
$264,600
$264.6K
Market Conditions
NOI Build-Up for 1,250 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
$36.0K $28.80/SF
− Vacancy
−$2.0K −$1.58/SF
EGI
$34.0K $27.22/SF
− OpEx
−$10.2K −$8.16/SF
NOI
$23.8K $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%
$476,280
Cap Rate 7%
$340,200
Cap Rate 9%
$264,600
Alternative Uses
Best Use
Multifamily LT 5
$340.2K
$297.7K – $396.9K
NOI $23,814 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$304.0K
$266.0K – $354.7K
NOI $21,281 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$645.4K
$564.7K – $752.9K
NOI $45,176 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,452
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible residential income property with a one-bedroom lower apartment and a three-bedroom upper residence.
Where is this duplex located?
The property is located at 2022 4TH STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two‑unit duplex at 2022 4th Street NE, Washington, DC 20002; Lower‑level unit includes 1 bedroom, 1 bathroom, full kitchen, and living room; Upper residence features 3 bedrooms and 2.5 bathrooms
