Residential Income Property with
For Sale
$789,900
2363 CHAMPLAIN STREET NW Unit 3, Washington, DC 20009
Two-level condo residence with a fireplace, generous storage, and a private patio in Adams Morgan.
Property Size1,540 SF
Price / SF$512.92
Days on Market9
Property Features for 2363 CHAMPLAIN STREET NW Unit 3
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR+Den/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,978
Amenities
fireplace
private patio
Building Details
Building Size
1,540 SF
Year Built
2001
Listing Agency:
Compass
(650) 888-5623
Listed By:
Katri I Hunter · License #SP98373111
(650) 888-5623
Source:
Kerishull
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 12 at 3:08PM
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 Compass
Investment Insights
Based on property information with market context.
This two-level residential income property is configured as a condominium residence within a low-rise building constructed in 2001. The home contains 1,540 square feet with two bedrooms, a den that can serve as a third bedroom, and 2.5 baths. A fireplace anchors the main living area, while the layout also provides generous room sizes, ample storage, and a private patio.
The property is located in Adams Morgan near 18th Street, neighborhood markets, and restaurants. Rental parking is secured just outside the patio entrance, providing an additional access point for the residence.
The property is located in Adams Morgan near 18th Street, neighborhood markets, and restaurants. Rental parking is secured just outside the patio entrance, providing an additional access point for the residence.
Key Highlights
- 1,540‑square‑foot two‑level condominium residence
- Two bedrooms plus a den that can function as a third bedroom
- 2.5 baths in a low‑rise building constructed in 2001
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
$29,968
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
3.79%
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%
$599,360
$599.4K
Cap Rate 7%
$428,114
$428.1K
Cap Rate 9%
$332,978
$333.0K
Market Conditions
NOI Build-Up for 1,540 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
$57.8K $37.56/SF
− Vacancy
−$3.4K −$2.18/SF
EGI
$54.5K $35.38/SF
− OpEx
−$24.5K −$15.92/SF
NOI
$30.0K $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%
$599,360
Cap Rate 7%
$428,114
Cap Rate 9%
$332,978
Alternative Uses
Best Use
Apartment 5plus
$428.1K
$374.6K – $499.5K
NOI $29,968 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$792.1K
$693.1K – $924.2K
NOI $55,449 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,043
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
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 - Two-level condo residence with a fireplace, generous storage, and a private patio in Adams Morgan.
Where is this residential income property located?
The property is located at 2363 CHAMPLAIN STREET NW Unit 3 Washington, DC.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: 1,540‑square‑foot two‑level condominium residence; Two bedrooms plus a den that can function as a third bedroom; 2.5 baths in a low‑rise building constructed in 2001
