Residential Income Property with
For Sale
$299,900
240 M STREET SW Unit E214, Washington, DC 20024
The two-bedroom residence includes assigned parking and a private outdoor space overlooking the community grounds.
Property Size1,144 SF
Price / SF$262.15
Days on Market178
Property Features for 240 M STREET SW Unit E214
General Information
Standard status
Active
Size
1,144 SF
Total Parking Spaces
1
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Neighborhood
Southwest
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,152
Amenities
pool
courtyard
private balcony
Building Details
Building Size
1,144 SF
Year Built
1967
Listing Agency:
Compass
Listed By:
Melanie Clark · License #SP98375742
(202) 258-0100
Source:
Jackrealtygroup
Added: May 6
Changed: Oct 27
Last Checked: Oct 26 at 3:23PM
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
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Investment Insights
Based on property information with market context.
This 1,144-square-foot residence has two bedrooms, one bathroom, and a private balcony. The kitchen has gas cooking and storage, while the bathroom includes a walk-in tub with shower. Parquet flooring is present, and the unit was freshly painted. One assigned parking space is included; the condo fee covers utilities. The building dates to 1967, and the property is part of an 11-acre community with a courtyard and pool.
The residence is minutes from the Wharf, the Smithsonian, Metro, Safeway, Audi Field, and Nationals Stadium.
The residence is minutes from the Wharf, the Smithsonian, Metro, Safeway, Audi Field, and Nationals Stadium.
Key Highlights
- Two‑bedroom, one‑bath residence with 1,144 square feet
- Private balcony with views across the community grounds
- One assigned parking space; condo fee includes utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,008
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,160
$380.2K
Cap Rate 7%
$271,543
$271.5K
Cap Rate 9%
$211,200
$211.2K
Market Conditions
NOI Build-Up for 1,144 SF
Gross rent
$36.4K $31.80/SF
− Vacancy
−$1.8K −$1.59/SF
EGI
$34.6K $30.21/SF
− OpEx
−$15.6K −$13.59/SF
NOI
$19.0K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,160
Cap Rate 7%
$271,543
Cap Rate 9%
$211,200
Alternative Uses
Best Use
Apartment 5plus
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$588.4K
$514.9K – $686.5K
NOI $41,191 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 20024, DC
15,952
Population
11,560
Households
1.4
Avg Household Size
37
Median Age
70%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
7,251
Density / Sq Mi
$102,623
Median Household Income
$94,419
Median Earnings
$2,121
Median Rent
$497,100
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom residence includes assigned parking and a private outdoor space overlooking the community grounds.
Where is this residential income property located?
The property is located at 240 M STREET SW Unit E214 Washington, DC.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑bedroom, one‑bath residence with 1,144 square feet; Private balcony with views across the community grounds; One assigned parking space; condo fee includes utilities
