Building Details

Building Size 958 SF

Year Built 1911

Listing Agency: Compass

Listed By: Pamela B Wye · License #sp215075 Show Phone

Source: Kwcapitalproperties

Added: Sep 24 Changed: Oct 16 Last Checked: Oct 16 at 4:43PM

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Investment Insights

Based on property information with market context.

This two-level condo has an open kitchen, dining, and living area on the entry floor, with two bedrooms and a full bath on the upper level. Hardwood floors, windows throughout, and an in-unit washer and dryer are among its features. The building dates to 1911, and the property is described as investor-friendly; cats are permitted.

The home faces Walter Pierce Park and is near Rock Creek Park, the National Zoo, and the Woodley Park Metro station on the Red Line. Safeway and Harris Teeter are nearby, with dining and entertainment options in Adams Morgan and Mount Pleasant.

Key Highlights

• Two‑level condo with two bedrooms and one full bath
• Open kitchen, dining, and living area on the main level
• In‑unit washer and dryer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,643

Cap Rate

3.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$372,860 $372.9K

Cap Rate 7%

$266,329 $266.3K

Cap Rate 9%

$207,144 $207.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 958 SF

Gross rent

$36.0K $37.56/SF

− Vacancy

−$2.1K −$2.18/SF

EGI

$33.9K $35.38/SF

− OpEx

−$15.3K −$15.92/SF

NOI

$18.6K $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 Rate 5%

$372,860

Cap Rate 7%

$266,329

Cap Rate 9%

$207,144

Alternative Uses

Best Use

Apartment 5plus

$266.3K

$233.0K – $310.7K (±1% cap)

NOI $18,643 @ 7.0% cap · market cap 3.84%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$492.8K

$431.2K – $574.9K (±1% cap)

NOI $34,494 @ 7.0% cap · market cap 7.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Electrical Service Auto Parts Store Big Box & Wholesale Store Kitchen & Bath Showroom Home Appliance Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

3,606

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 - The condo has an open main-level living area and two bedrooms upstairs.

Where is this residential income property located?

The property is located at 2627 ADAMS MILL ROAD NW Unit 406 Washington, DC.

What is the asking price?

The asking price for this property is $485,000.

What are key features of this property?

This property features: Two‑level condo with two bedrooms and one full bath; Open kitchen, dining, and living area on the main level; In‑unit washer and dryer