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    Renovated Multifamily Property in Washington Title is generated by Realmo AI

    2916 2ND Street SE, Washington, DC 20032

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    For Sale
    $1,200,000

    MULTI_FAMILY - Other - WASHINGTON, DC

    Property size:
    3,602 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $333/SF
    Added:
    May 16, 2026
    Days on Market:
    15
    Last Refresh:
    May 30 at 3:06 am

    Property Features for 2916 2ND Street SE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Parking features
    On Street
    Standard status
    Active
    Size
    3,602 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4116

    Utilities

    Heating system
    Hot Water(Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1943
    Number of units
    4
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Matthew Scott

    Listing agent Matthew Scott License #Sp200202229

    Listing office Samson Properties 1140 3rd Street unit: 405, Chantilly, DC

    Listing date May 16, 2026

    MLS# DCDC2261082 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully renovated down to the studs with new electrical, plumbing, and framing.
    • Spacious 4‑bedroom unit ideal for owner‑occupant or premium rental.
    • Located in a fast‑appreciating and affordable area (DC's 20032 zip code).
    • Income‑producing property with 3 of 4 units currently occupied by reliable tenants.
    • Conveniently situated minutes from Congress Heights Metro (Green Line), Joint Base Anacostia‑Bolling, Anacostia Park, and the Entertainment & Sports Arena.
    • Classic all‑brick exterior with updated entry, chevron‑tiled landing & modern railings.

    Overview

    This multifamily property features a full gut renovation, including new electrical, plumbing, and framing. The property consists of four units, with three currently occupied by reliable tenants. One spacious four-bedroom unit is ideal for an owner-occupant or premium rental. The building features a classic all-brick exterior with an updated entry, chevron-tiled landing, and modern railings. Each unit has separately metered electric. The property is zoned R-3 and is located in Washington, DC's 20032 zip code, an area noted for its affordability and rapid appreciation. Seller concessions are available. The property is situated minutes from the Congress Heights Metro (Green Line), Joint Base Anacostia-Bolling, Anacostia Park, and the Entertainment & Sports Arena. The property is zoned for King Elementary, Charles Hart Middle School, and Ballou High School, all within the same zip code. The lot size is 0.0981 acres, and the property size is 3602 square feet.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $97.3k $27.00
    − Vacancy −$5.1k −$1.40
    EGI $92.2k $25.60
    − OpEx −$27.7k −$7.68
    NOI $64.5k $17.92
    3,602 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $922.0K
    $806.7K – $1.08M (±1% cap)
    NOI $64,538 @ 7.0% cap · market cap 5.38%
    Second Best
    Apartment 5plus
    $855.0K
    $748.1K – $997.5K (±1% cap)
    NOI $59,849 @ 7.0% cap · market cap 4.99%
    Theoretical Best
    Office A
    $1.85M
    $1.62M – $2.16M (±1% cap)
    NOI $129,693 @ 7.0% cap · market cap 10.81%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    District of Columbia
    State
    District of Columbia
    Longitude
    -77.00521
    Latitude
    38.84719

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    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property with reliable tenants and updated features.
    Where is this quadplex located?
    The property is located at 2916 2ND Street SE Washington, DC.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Fully renovated down to the studs with new electrical, plumbing, and framing.; Spacious 4‑bedroom unit ideal for owner‑occupant or premium rental.; Located in a fast‑appreciating and affordable area (DC's 20032 zip code).
    (240) 601-1530
    We can help!
    Listing Contact
    Matthew Scott
    Real Estate License ID: Sp200202229
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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