Top-Floor Residential Income
For Sale
$510,000
2910 GEORGIA AVENUE NW Unit 104, Washington, DC 20001
Move-in-ready penthouse residence with two primary suites, hardwood flooring, and expansive city views.
Property Size878 SF
Price / SF$580.87
Days on Market172
Property Features for 2910 GEORGIA AVENUE NW Unit 104
General Information
Standard status
Active
Size
878 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,895
Building Details
Building Size
878 SF
Year Built
2011
Listing Agency:
Corcoran McEnearney
Listed By:
Nicole K Apanda · License #SP98374102
(240) 505-9066
Source:
Kerishull
Added: Mar 27
Changed: Sep 8
Last Checked: Sep 13 at 1:52PM
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 Corcoran McEnearney
Investment Insights
Based on property information with market context.
This 2011 residential income property is a top-floor penthouse condominium with two primary suites, polished hardwood flooring, a welcoming foyer, and an open living and kitchen arrangement. Floor-to-ceiling windows bring natural light into the living and dining areas while providing elevated street-facing views and a National Mall treescape. The kitchen includes mahogany-stain cabinetry, stainless steel appliances, and a brand-new microwave. A separate laundry area includes a brand-new washer and dryer. The building has an exposed-brick exterior, elevator access, and a rooftop area with expansive views. One private deeded parking space is positioned beside the building’s parking entrance, with vehicle access from either side street.
The property is at 2910 Georgia Avenue NW in Washington, DC, near Children's National Hospital, MedStar, Washington VA Medical Center, and Howard University Medical Center. Columbia Heights Metro is 5 blocks away, while Georgia Avenue-Petworth Metro is 8 short blocks away. The surrounding area includes walkable restaurants, a Georgia Avenue bus line, Whole Foods 5 prompt blocks away, a public tennis court 1 block away, and nearby fitness studios and community markets.
The property is at 2910 Georgia Avenue NW in Washington, DC, near Children's National Hospital, MedStar, Washington VA Medical Center, and Howard University Medical Center. Columbia Heights Metro is 5 blocks away, while Georgia Avenue-Petworth Metro is 8 short blocks away. The surrounding area includes walkable restaurants, a Georgia Avenue bus line, Whole Foods 5 prompt blocks away, a public tennis court 1 block away, and nearby fitness studios and community markets.
Key Highlights
- Top‑floor penthouse with two primary suites and floor‑to‑ceiling windows
- Private deeded parking space beside the condo building entrance
- 2011 building with exposed‑brick exterior, elevator, and rooftop area
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
$14,588
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%
$291,760
$291.8K
Cap Rate 7%
$208,400
$208.4K
Cap Rate 9%
$162,089
$162.1K
Market Conditions
NOI Build-Up for 878 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
$27.9K $31.80/SF
− Vacancy
−$1.4K −$1.59/SF
EGI
$26.5K $30.21/SF
− OpEx
−$11.9K −$13.59/SF
NOI
$14.6K $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%
$291,760
Cap Rate 7%
$208,400
Cap Rate 9%
$162,089
Alternative Uses
Best Use
Apartment 5plus
$208.4K
$182.4K – $243.1K
NOI $14,588 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$451.6K
$395.2K – $526.9K
NOI $31,613 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,498
Businesses Nearby
Explore this area
Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Move-in-ready penthouse residence with two primary suites, hardwood flooring, and expansive city views.
Where is this residential income property located?
The property is located at 2910 GEORGIA AVENUE NW Unit 104 Washington, DC.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Top‑floor penthouse with two primary suites and floor‑to‑ceiling windows; Private deeded parking space beside the condo building entrance; 2011 building with exposed‑brick exterior, elevator, and rooftop area
