Penthouse Residential Income
For Sale
$649,999
2556 UNIVERSITY PLACE NW Unit 302, Washington, DC 20009
Two-level condominium residence completed in 2022 with contemporary finishes and an open-concept interior.
Property Size1,041 SF
Price / SF$624.40
Days on Market68
Property Features for 2556 UNIVERSITY PLACE NW Unit 302
General Information
Standard status
Active
Size
1,041 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,356
Building Details
Building Size
1,041 SF
Year Built
2022
Listing Agency:
BPG Real Estate
(571) 271-2076
Listed By:
William Alexander York · License #SP40002238
(571) 271-2076
Source:
Kerishull
Added: Jun 18
Changed: Aug 23
Last Checked: Aug 23 at 7:48AM
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 BPG Real Estate
Investment Insights
Based on property information with market context.
This two-level penthouse condominium is part of a residential income property offering and was completed in 2022. The residence features contemporary finishes, abundant natural light, and an open-concept layout. Its configuration provides a distinct residential profile within a modern condominium setting.
The property is located at 2556 University Place NW, Unit 302, in Washington, DC 20009, within Columbia Heights. Metro access, dining, shopping, entertainment, and major employment centers are described as being steps from the residence, supporting a highly walkable urban setting.
The property is located at 2556 University Place NW, Unit 302, in Washington, DC 20009, within Columbia Heights. Metro access, dining, shopping, entertainment, and major employment centers are described as being steps from the residence, supporting a highly walkable urban setting.
Key Highlights
- Two‑level penthouse condominium residence
- Completed in 2022
- Contemporary finishes and open‑concept design
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
$20,258
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%
$405,160
$405.2K
Cap Rate 7%
$289,400
$289.4K
Cap Rate 9%
$225,089
$225.1K
Market Conditions
NOI Build-Up for 1,041 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
$39.1K $37.56/SF
− Vacancy
−$2.3K −$2.18/SF
EGI
$36.8K $35.38/SF
− OpEx
−$16.6K −$15.92/SF
NOI
$20.3K $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%
$405,160
Cap Rate 7%
$289,400
Cap Rate 9%
$225,089
Alternative Uses
Best Use
Apartment 5plus
$289.4K
$253.2K – $337.6K
NOI $20,258 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$535.5K
$468.5K – $624.7K
NOI $37,482 @ 7.0% cap · market cap 5.77%
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
5,099
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 - Two-level condominium residence completed in 2022 with contemporary finishes and an open-concept interior.
Where is this residential income property located?
The property is located at 2556 UNIVERSITY PLACE NW Unit 302 Washington, DC.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Two‑level penthouse condominium residence; Completed in 2022; Contemporary finishes and open‑concept design
