Residential Income Studio
For Sale
$289,000
2500 Q STREET NW Unit 449, Washington, DC 20007
Renovated studio unit in Gateway Georgetown Condominiums with east-facing windows, rooftop deck amenities, and utilities covered except cable/internet.
Property Size899 SF
Price / SF$533.21
Days on Market47
Property Features for 2500 Q STREET NW Unit 449
General Information
Standard status
Active
Size
899 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,938
Amenities
fully equipped gym
laundry room
rooftop deck
24-hour front desk
Amazon lockers
in-house maintenance
parking garage
additional storage
pet friendly
Building Details
Building Size
899 SF
Year Built
1942
Listing Agency:
EXP Realty, LLC
Listed By:
Sunita Bali · License #650011
(301) 984-7108
Source:
Kwcapitalproperties
Added: Jul 30
Changed: Sep 4
Last Checked: Sep 13 at 11:41AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
Unit 410 at 2500 Q Street NW is a renovated studio residence within Gateway Georgetown Condominiums. The unit has approximately 542 square feet and was completely transformed with premium finishes, including a custom kitchen with quartz countertops and high-end stainless-steel appliances, as well as an upgraded bathroom. The interior layout is designed for flexible use, with space for a living area, a full-size Murphy bed, a dedicated dining alcove, and a work-from-home desk setup. An additional bonus room adds versatility for use as a walk-in closet, dressing room, or storage. Multiple walk-in closets are fitted with Elfa shelving, and the unit features large east-facing windows providing morning light and treetop views.
Building amenities include a fully equipped gym, a laundry room, and an expansive rooftop deck with panoramic city skyline views. A 24-hour managed front desk is available for greeting guests and handling packages, and the building offers access to convenient Amazon lockers. In-house maintenance, a parking garage, and additional storage when available are also part of the community.
The building is pet friendly. The low condo fee includes all utilities except cable/internet, and the property was built in 1942.
Building amenities include a fully equipped gym, a laundry room, and an expansive rooftop deck with panoramic city skyline views. A 24-hour managed front desk is available for greeting guests and handling packages, and the building offers access to convenient Amazon lockers. In-house maintenance, a parking garage, and additional storage when available are also part of the community.
The building is pet friendly. The low condo fee includes all utilities except cable/internet, and the property was built in 1942.
Key Highlights
- Renovated studio Unit 410 with approximately 542 square feet
- Custom kitchen with quartz countertops and high‑end stainless‑steel appliances
- Upgraded bathroom plus bonus room for flexible storage or closet use
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
$9,006
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
3.12%
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%
$180,120
$180.1K
Cap Rate 7%
$128,657
$128.7K
Cap Rate 9%
$100,067
$100.1K
Market Conditions
NOI Build-Up for 542 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
$17.2K $31.80/SF
− Vacancy
−$862 −$1.59/SF
EGI
$16.4K $30.21/SF
− OpEx
−$7.4K −$13.59/SF
NOI
$9.0K $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 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%
$180,120
Cap Rate 7%
$128,657
Cap Rate 9%
$100,067
Alternative Uses
Best Use
Apartment 5plus
$128.7K
$112.6K – $150.1K
NOI $9,006 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$278.8K
$243.9K – $325.3K
NOI $19,515 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
16,715
Businesses Nearby
Explore this area
Business Placement
Demographics for 20007, DC
26,827
Population
13,583
Households
2
Avg Household Size
35
Median Age
87%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
8,654
Density / Sq Mi
$142,783
Median Household Income
$93,107
Median Earnings
$2,066
Median Rent
$1,202,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Renovated studio unit in Gateway Georgetown Condominiums with east-facing windows, rooftop deck amenities, and utilities covered except cable/internet.
Where is this residential income property located?
The property is located at 2500 Q STREET NW Unit 449 Washington, DC.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Renovated studio Unit 410 with approximately 542 square feet; Custom kitchen with quartz countertops and high‑end stainless‑steel appliances; Upgraded bathroom plus bonus room for flexible storage or closet use
