Two-Bedroom Residential Income
For Sale
$160,000
2102 SUITLAND TERRACE SE Unit 302, Washington, DC 20020
The condo includes two bedrooms, one bathroom, and access to nearby bus service and grocery stores.
Property Size585 SF
Price / SF$273.50
Days on Market90
Property Features for 2102 SUITLAND TERRACE SE Unit 302
General Information
Standard status
Active
Size
585 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Fairfax Village
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,137
Building Details
Building Size
585 SF
Year Built
1940
Listing Agency:
Keller Williams Capital Properties
Listed By:
Robert C Morris III · License #SP98363211
(202) 213-5184
Source:
Jackrealtygroup
Added: Aug 1
Changed: Oct 27
Last Checked: Oct 26 at 3:18PM
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 Keller Williams Capital Properties
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Investment Insights
Based on property information with market context.
Located at 2102 Suitland Terrace SE, Unit 302, this condominium has two bedrooms and one bathroom. The building dates to 1940, and the residence is described as naturally lit. The property is part of Fairfax Village, where the grounds include manicured lawns.
Metro bus service and grocery stores are nearby and reachable on foot. Conventional financing is available for Fairfax Village properties with limited review; the development is not FHA approved. The residence is identified as qualifying for the DC Tax Abatement program and DC Home Advantage.
Metro bus service and grocery stores are nearby and reachable on foot. Conventional financing is available for Fairfax Village properties with limited review; the development is not FHA approved. The residence is identified as qualifying for the DC Tax Abatement program and DC Home Advantage.
Key Highlights
- Two bedrooms and one bathroom
- Built in 1940
- Located in Fairfax Village
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,235
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,700
$184.7K
Cap Rate 7%
$131,929
$131.9K
Cap Rate 9%
$102,611
$102.6K
Market Conditions
NOI Build-Up for 585 SF
Gross rent
$17.9K $30.60/SF
− Vacancy
−$1.1K −$1.90/SF
EGI
$16.8K $28.70/SF
− OpEx
−$7.6K −$12.92/SF
NOI
$9.2K $15.79/SF
Area
ZIP 20020
Vacancy
6.20%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,700
Cap Rate 7%
$131,929
Cap Rate 9%
$102,611
Alternative Uses
Best Use
Apartment 5plus
$131.9K
$115.4K – $153.9K
NOI $9,235 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$302.0K
$264.3K – $352.4K
NOI $21,143 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
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Business Placement
Demographics for 20020, DC
51,616
Population
26,376
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
89%
High-School Grad
4.6 sq mi
ZIP Area
11,221
Density / Sq Mi
$53,015
Median Household Income
$48,752
Median Earnings
$1,317
Median Rent
$442,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The condo includes two bedrooms, one bathroom, and access to nearby bus service and grocery stores.
Where is this residential income property located?
The property is located at 2102 SUITLAND TERRACE SE Unit 302 Washington, DC.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Two bedrooms and one bathroom; Built in 1940; Located in Fairfax Village
