Woodley Park Multifamily
For Sale
$1,525,000
2256 CATHEDRAL Ave NW, Washington, DC 20008
Multifamily property across from Rock Creek Park in Woodley Park.
Property Size3,295 SF
Lot Size0.07 Acres
Days on Market275
Property Features for 2256 CATHEDRAL Ave NW
General Information
Standard status
Active
Size
3,295 SF
Lot size
0.07 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$14,296
Building Details
Building Size
3,295 SF
Year Built
1909
Units
4
Listing Agency:
(202) 256-6694
Listed By:
Judy G Cranford
(202) 256-6694
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 29 at 12:21PM
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 Judy G Cranford
Investment Insights
Based on property information with market context.
Located across from Rock Creek Park in Woodley Park, this property is currently configured as a four-unit building, with three units currently rented. The building, constructed in 1909, features a porch front and retains much of its original character. The property benefits from abundant natural light, with large windows throughout, and includes original wood floors. Parking is available for two cars. One of the units includes a balcony that overlooks the park. The property offers space and potential.
Key Highlights
- Prime location directly across from Rock Creek Park in Woodley Park.
- Currently configured as a four‑unit building with three units generating rental income.
- Features parking for two cars.
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
$59,037
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
3.87%
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%
$1,180,740
$1.2M
Cap Rate 7%
$843,386
$843.4K
Cap Rate 9%
$655,967
$656.0K
Market Conditions
NOI Build-Up for 3,295 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
$89.0K $27.00/SF
− Vacancy
−$4.6K −$1.40/SF
EGI
$84.3K $25.60/SF
− OpEx
−$25.3K −$7.68/SF
NOI
$59.0K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /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%
$1,180,740
Cap Rate 7%
$843,386
Cap Rate 9%
$655,967
Alternative Uses
Best Use
Multifamily LT 5
$843.4K
$738.0K – $984.0K
NOI $59,037 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$782.1K
$684.4K – $912.5K
NOI $54,748 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,639 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 20008, DC
30,143
Population
18,083
Households
1.7
Avg Household Size
38
Median Age
89%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
9,724
Density / Sq Mi
$123,653
Median Household Income
$87,607
Median Earnings
$2,202
Median Rent
$894,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily property across from Rock Creek Park in Woodley Park.
Where is this quadplex located?
The property is located at 2256 CATHEDRAL Ave NW Washington, DC.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Prime location directly across from Rock Creek Park in Woodley Park.; Currently configured as a four‑unit building with three units generating rental income.; Features parking for two cars.
