Two-Bedroom Residential Income
For Sale
$575,000
2412 17TH STREET NW Unit 301, Washington, DC 20009
Updated city residence with private balcony, in-unit laundry, and open living and dining areas.
Property Size860 SF
Price / SF$668.60
Days on Market10
Property Features for 2412 17TH STREET NW Unit 301
General Information
Standard status
Active
Size
860 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,677
Amenities
balcony
in-unit laundry
dishwasher
smart washer/dryer
Building Details
Building Size
860 SF
Year Built
1910
Listing Agency:
4J Real Estate, LLC
Listed By:
Justin T Paulhamus · License #BR98378390
(202) 255-5282
Source:
Kerishull
Added: Sep 4
Changed: Sep 12
Last Checked: Sep 13 at 12:02PM
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 4J Real Estate, LLC
Investment Insights
Based on property information with market context.
This 860-square-foot, two-bedroom residence combines an open living and dining plan with a kitchen featuring wood cabinetry, stainless-steel appliances, ample counter space, and breakfast-bar seating. Recent improvements include new flooring, a dishwasher, and a smart washer/dryer tower. Both bedrooms are functional and appropriately sized, while the primary bedroom provides direct access to the private balcony. Built in 1910, the home offers substantial outdoor space for seating, dining, plants, and entertaining.
The property is located at 2412 17th Street NW Unit 301 in Washington, DC 20009. Meridian Hill Park and Adams Morgan’s 18th Street restaurant row are approximately a five-minute walk away, placing dining, coffee, nightlife, and recreation within close reach.
The property is located at 2412 17th Street NW Unit 301 in Washington, DC 20009. Meridian Hill Park and Adams Morgan’s 18th Street restaurant row are approximately a five-minute walk away, placing dining, coffee, nightlife, and recreation within close reach.
Key Highlights
- 860‑square‑foot two‑bedroom residence
- Large private balcony extends across the residence
- Recent upgrades include new flooring, dishwasher, and smart washer/dryer tower
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
$16,735
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
2.91%
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%
$334,700
$334.7K
Cap Rate 7%
$239,071
$239.1K
Cap Rate 9%
$185,944
$185.9K
Market Conditions
NOI Build-Up for 860 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
$32.3K $37.56/SF
− Vacancy
−$1.9K −$2.18/SF
EGI
$30.4K $35.38/SF
− OpEx
−$13.7K −$15.92/SF
NOI
$16.7K $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%
$334,700
Cap Rate 7%
$239,071
Cap Rate 9%
$185,944
Alternative Uses
Best Use
Apartment 5plus
$239.1K
$209.2K – $278.9K
NOI $16,735 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$442.4K
$387.1K – $516.1K
NOI $30,965 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
694
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated city residence with private balcony, in-unit laundry, and open living and dining areas.
Where is this residential income property located?
The property is located at 2412 17TH STREET NW Unit 301 Washington, DC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 860‑square‑foot two‑bedroom residence; Large private balcony extends across the residence; Recent upgrades include new flooring, dishwasher, and smart washer/dryer tower
