Residential Income Property with
For Sale
$240,000
2550 17TH STREET NW Unit 302, Washington, DC 20009
Contemporary unit with in-home laundry, central air, upgraded finishes, and access to extensive building amenities.
Property Size353 SF
Days on Market191
Property Features for 2550 17TH STREET NW Unit 302
General Information
Standard status
Active
Size
353 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,267
Amenities
central air conditioning
in-unit washer and dryer
private balcony
concierge
rooftop deck
secure electronic access
community center
bike storage
package storage
additional storage units
pet-friendly
Building Details
Building Size
353 SF
Year Built
2015
Listing Agency:
Compass
(301) 832-5105
Listed By:
Jessica G Evans · License #SP696163
(301) 832-5105
Source:
Kwcapitalproperties
Added: Feb 5
Changed: Aug 14
Last Checked: Aug 14 at 12:31PM
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 residential income property is a 2015-built condominium residence in Ontario 17, featuring an open interior with hardwood flooring, custom closets, and large sliding glass doors leading to a private balcony. The kitchen includes stainless steel Bosch appliances, quartz counters, tile backsplash, and substantial cabinetry. A finished bathroom with tile detailing and a frameless glass shower complements the living space. Central air conditioning, a Nest thermostat, Wemo smart switches, and stacked Bosch laundry add functional upgrades.
Building amenities include concierge service, controlled electronic entry, a rooftop deck with city views, community center, bike storage, package storage, and additional storage units. The pet-friendly property is positioned on a quiet residential block near 18th Street, with restaurants, cafes, neighborhood retail, grocery stores, and pharmacies nearby. Meridian Hill Park, Rock Creek Park trails, and the Smithsonian National Zoo are also in the surrounding area. Metrobus service is located on the next block, with Columbia Heights Metro station nearby.
Building amenities include concierge service, controlled electronic entry, a rooftop deck with city views, community center, bike storage, package storage, and additional storage units. The pet-friendly property is positioned on a quiet residential block near 18th Street, with restaurants, cafes, neighborhood retail, grocery stores, and pharmacies nearby. Meridian Hill Park, Rock Creek Park trails, and the Smithsonian National Zoo are also in the surrounding area. Metrobus service is located on the next block, with Columbia Heights Metro station nearby.
Key Highlights
- 2015‑built condominium residence in Ontario 17
- Private balcony accessed through large sliding glass doors
- Central air conditioning and stacked Bosch washer and dryer
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
$6,869
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
2.86%
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%
$137,380
$137.4K
Cap Rate 7%
$98,129
$98.1K
Cap Rate 9%
$76,322
$76.3K
Market Conditions
NOI Build-Up for 353 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
$13.3K $37.56/SF
− Vacancy
−$769 −$2.18/SF
EGI
$12.5K $35.38/SF
− OpEx
−$5.6K −$15.92/SF
NOI
$6.9K $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%
$137,380
Cap Rate 7%
$98,129
Cap Rate 9%
$76,322
Alternative Uses
Best Use
Apartment 5plus
$98.1K
$85.9K – $114.5K
NOI $6,869 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$181.6K
$158.9K – $211.8K
NOI $12,710 @ 7.0% cap · market cap 5.30%
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
4,668
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 - Contemporary unit with in-home laundry, central air, upgraded finishes, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 2550 17TH STREET NW Unit 302 Washington, DC.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 2015‑built condominium residence in Ontario 17; Private balcony accessed through large sliding glass doors; Central air conditioning and stacked Bosch washer and dryer
