Residential Income Property with
For Sale
$455,000
2032 BELMONT ROAD NW Unit 405, Washington, DC 20009
One-bedroom residence with a flexible sunroom, generous storage, and building services in a historic Art Deco property.
Property Size838 SF
Price / SF$542.96
Days on Market10
Property Features for 2032 BELMONT ROAD NW Unit 405
General Information
Standard status
Active
Size
838 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,764
Amenities
front desk concierge
secure package room
bicycle storage
laundry facilities
Building Details
Building Size
838 SF
Year Built
1928
Construction
Art Deco
Tenancy
Multi
Listing Agency:
Redfin Corp
Listed By:
Paul W Johnson · License #SP40000707
(240) 202-9809
Source:
Kwcapitalproperties
Added: Sep 5
Changed: Sep 10
Last Checked: Sep 13 at 12:03PM
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 Redfin Corp
Investment Insights
Based on property information with market context.
Residence 405 at Valley Vista offers 838 square feet with one bedroom, one bathroom, and a separate sunroom that expands the usable living area. The sunroom’s broad windows face the tree canopy of Rock Creek Park and provide a flexible setting for dining, remote work, or additional living space. Interior features include 1920s architectural character, fresh paint, spacious room proportions, multiple oversized closets, and a large walk-in storage closet.
Built in 1928, the property is a historic Art Deco building at 2032 Belmont Road NW in Washington, DC. Building amenities include a front desk concierge, secure package room, bicycle storage, and large laundry facilities. The residence is near Rock Creek Park trails, Kalorama Park, the Woodley Park-Zoo/Adams Morgan Metro station on the Red Line, and nearby grocery, pharmacy, dining, and café options. Dupont Circle is also adjacent, providing additional access to restaurants, shopping, and cultural destinations.
Built in 1928, the property is a historic Art Deco building at 2032 Belmont Road NW in Washington, DC. Building amenities include a front desk concierge, secure package room, bicycle storage, and large laundry facilities. The residence is near Rock Creek Park trails, Kalorama Park, the Woodley Park-Zoo/Adams Morgan Metro station on the Red Line, and nearby grocery, pharmacy, dining, and café options. Dupont Circle is also adjacent, providing additional access to restaurants, shopping, and cultural destinations.
Key Highlights
- 838 SF one‑bedroom, one‑bath residence with a separate sunroom
- Sunroom windows overlook the tree canopy of Rock Creek Park
- Valley Vista is a historic 1928 Art Deco building
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
$16,307
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
3.58%
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%
$326,140
$326.1K
Cap Rate 7%
$232,957
$233.0K
Cap Rate 9%
$181,189
$181.2K
Market Conditions
NOI Build-Up for 838 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
$31.5K $37.56/SF
− Vacancy
−$1.8K −$2.18/SF
EGI
$29.6K $35.38/SF
− OpEx
−$13.3K −$15.92/SF
NOI
$16.3K $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%
$326,140
Cap Rate 7%
$232,957
Cap Rate 9%
$181,189
Alternative Uses
Best Use
Apartment 5plus
$233.0K
$203.8K – $271.8K
NOI $16,307 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$431.0K
$377.2K – $502.9K
NOI $30,173 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with a flexible sunroom, generous storage, and building services in a historic Art Deco property.
Where is this residential income property located?
The property is located at 2032 BELMONT ROAD NW Unit 405 Washington, DC.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 838 SF one‑bedroom, one‑bath residence with a separate sunroom; Sunroom windows overlook the tree canopy of Rock Creek Park; Valley Vista is a historic 1928 Art Deco building
