Brick Quadplex with Vacant
For Sale
$1,100,000
220 21ST Street NE, Washington, DC 20002
Multi-Family, WASHINGTON, DC
Property Size2,720 SF
Lot Size0.07 Acres
Price / SF$404.41
Days on Market171
Property Features for 220 21ST Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
2,720 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
7941
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1938
Number of units
4
Building materials
Brick
Listing Agency:
Samson Properties
(301) 760-2136
Listed By:
Christopher M Chambers · License #SP98373958
(301) 775-4710
Added: Mar 27
Changed: Aug 19
Last Checked: Sep 13 at 2:06PM
MLS# DCDC2252348
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,720-square-foot quadplex at 220 21ST Street NE is a brick residential income property built in 1938. The building contains four units, with three currently occupied and one vacant. The vacant unit is the only one available for pre-ratification showings, and prospective visitors are asked not to disturb residents. Heating is provided by a hot water system, and parking is available on the street.
The property sits in Washington, DC 20002, across from the future redevelopment of the RFK Stadium site, which is projected for completion around 2030. Residents have access to shopping, parks, public transportation, dining, retail, and nightlife. The 0.0742-acre parcel also offers potential for a rooftop addition or expansion of the existing footprint, subject to buyer verification.
The property sits in Washington, DC 20002, across from the future redevelopment of the RFK Stadium site, which is projected for completion around 2030. Residents have access to shopping, parks, public transportation, dining, retail, and nightlife. The 0.0742-acre parcel also offers potential for a rooftop addition or expansion of the existing footprint, subject to buyer verification.
Key Highlights
- Four‑unit quadplex with three occupied units and one vacant unit
- 2,720 square feet on a 0.0742‑acre parcel
- Brick construction, built in 1938
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
$51,819
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
4.71%
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%
$1,036,380
$1.0M
Cap Rate 7%
$740,271
$740.3K
Cap Rate 9%
$575,767
$575.8K
Market Conditions
NOI Build-Up for 2,720 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
$78.3K $28.80/SF
− Vacancy
−$4.3K −$1.58/SF
EGI
$74.0K $27.22/SF
− OpEx
−$22.2K −$8.16/SF
NOI
$51.8K $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%
$1,036,380
Cap Rate 7%
$740,271
Cap Rate 9%
$575,767
Alternative Uses
Best Use
Multifamily LT 5
$740.3K
$647.7K – $863.7K
NOI $51,819 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$661.5K
$578.8K – $771.8K
NOI $46,307 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,304 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,113
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Three units are occupied, while one vacant unit is available for showings and leasing.
Where is this quadplex located?
The property is located at 220 21ST Street NE Washington, DC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four‑unit quadplex with three occupied units and one vacant unit; 2,720 square feet on a 0.0742‑acre parcel; Brick construction, built in 1938
