Two-Bedroom Residential Income
For Sale
$585,000
2412 17TH STREET NW Unit C-03, Washington, DC 20009
Condominium residence with an open layout, quartz-finished kitchen, private primary suite, and full-size laundry room.
Property Size1,211 SF
Days on Market98
Property Features for 2412 17TH STREET NW Unit C-03
General Information
Standard status
Active
Size
1,211 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,196
Amenities
heated floors
in-unit laundry
custom walk-in closet
breakfast bar
Building Details
Building Size
1,211 SF
Year Built
1910
Listing Agency:
Compass
(202) 280-2060
Listed By:
Jennifer S Smira · License #SP600505
(202) 280-2060
Source:
Kwcapitalproperties
Added: May 19
Changed: Aug 20
Last Checked: Aug 23 at 8:11AM
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-bedroom, two-bath condominium residence offers more than 1,200 square feet within the Kalorama Court condominium. The open living and dining areas connect to a contemporary kitchen with white quartz countertops, stainless steel appliances, a breakfast bar, and heated floors. Oversized windows bring in natural light, while maple flooring adds warmth throughout the home.
The primary suite includes a custom walk-in closet with built-ins and a private bath featuring an oak vanity, quartz counters, and a subway-tiled tub surround. A second bedroom with a large closet is positioned near the additional full bath and can also serve as a home office. A separate laundry room includes a full-size washer and dryer, along with storage. Built in 1910, the property is across from Harris Teeter and near the restaurants, shops, and nightlife of Adams Morgan, Dupont Circle, and Kalorama.
The primary suite includes a custom walk-in closet with built-ins and a private bath featuring an oak vanity, quartz counters, and a subway-tiled tub surround. A second bedroom with a large closet is positioned near the additional full bath and can also serve as a home office. A separate laundry room includes a full-size washer and dryer, along with storage. Built in 1910, the property is across from Harris Teeter and near the restaurants, shops, and nightlife of Adams Morgan, Dupont Circle, and Kalorama.
Key Highlights
- Two‑bedroom, two‑bath condominium with more than 1,200 square feet
- Open living and dining areas with a breakfast bar
- Kitchen includes white quartz countertops, stainless steel appliances, and heated floors
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
$23,566
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
4.03%
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%
$471,320
$471.3K
Cap Rate 7%
$336,657
$336.7K
Cap Rate 9%
$261,844
$261.8K
Market Conditions
NOI Build-Up for 1,211 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
$45.5K $37.56/SF
− Vacancy
−$2.6K −$2.18/SF
EGI
$42.8K $35.38/SF
− OpEx
−$19.3K −$15.92/SF
NOI
$23.6K $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%
$471,320
Cap Rate 7%
$336,657
Cap Rate 9%
$261,844
Alternative Uses
Best Use
Apartment 5plus
$336.7K
$294.6K – $392.8K
NOI $23,566 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$622.9K
$545.0K – $726.7K
NOI $43,603 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with an open layout, quartz-finished kitchen, private primary suite, and full-size laundry room.
Where is this residential income property located?
The property is located at 2412 17TH STREET NW Unit C-03 Washington, DC.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with more than 1,200 square feet; Open living and dining areas with a breakfast bar; Kitchen includes white quartz countertops, stainless steel appliances, and heated floors
