One-Bedroom Residential Income
For Sale
$349,000
2032 BELMONT ROAD NW Unit 632, Washington, DC 20009
Refreshed condominium residence with a sunroom, park outlooks, substantial storage, and access to established building services.
Property Size550 SF
Price / SF$416.47
Days on Market47
Property Features for 2032 BELMONT ROAD NW Unit 632
General Information
Standard status
Active
Size
550 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,964
Amenities
front desk
secure package room
assigned storage
bicycle storage
Building Details
Building Size
550 SF
Year Built
1928
Listing Agency:
RLAH @properties
Listed By:
Thomas E Doyle · License #SP98374375
(202) 540-0776
Source:
Kwcapitalproperties
Added: Jul 30
Changed: Sep 3
Last Checked: Sep 13 at 1:25PM
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 RLAH @properties
Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condominium residence offers approximately 838 square feet within Valley Vista, a classic 1928 building. The home has been freshly painted and includes well-proportioned rooms, strong natural light, a sunroom facing the tree canopy of Rock Creek Park, and several oversized closets, including a walk-in storage closet. Building services include a front desk, secure package room, assigned storage, and bicycle storage.
The property is located on Belmont Road NW in Washington, DC, between Adams Morgan, Kalorama, and Woodley Park. Rock Creek Park trails and open space are nearby, while the Woodley Park-Zoo/Adams Morgan Metro station provides Red Line service. Restaurants, cafes, grocery stores, pharmacies, Kalorama Park, and the broader Dupont Circle area are also within the surrounding neighborhood.
The property is located on Belmont Road NW in Washington, DC, between Adams Morgan, Kalorama, and Woodley Park. Rock Creek Park trails and open space are nearby, while the Woodley Park-Zoo/Adams Morgan Metro station provides Red Line service. Restaurants, cafes, grocery stores, pharmacies, Kalorama Park, and the broader Dupont Circle area are also within the surrounding neighborhood.
Key Highlights
- Approximately 838 square feet with one bedroom and one bath
- Built in 1928 and freshly painted throughout
- Sunroom overlooking the tree canopy of Rock Creek Park
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
4.67%
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 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$431.0K
$377.2K – $502.9K
NOI $30,173 @ 7.0% cap · market cap 8.65%
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 - Refreshed condominium residence with a sunroom, park outlooks, substantial storage, and access to established building services.
Where is this residential income property located?
The property is located at 2032 BELMONT ROAD NW Unit 632 Washington, DC.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Approximately 838 square feet with one bedroom and one bath; Built in 1928 and freshly painted throughout; Sunroom overlooking the tree canopy of Rock Creek Park
