Residential Income Property with Roof
For Sale
$355,000
305 C STREET NE Unit 202, Washington, DC 20002
Unit 202 combines hardwood flooring, a galley kitchen, included utilities, and access to shared laundry facilities.
Property Size715 SF
Price / SF$495.12
Days on Market181
Property Features for 305 C STREET NE Unit 202
General Information
Standard status
Active
Size
715 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,141
Amenities
laundry lounge facilities
roof deck
storage options
Building Details
Building Size
715 SF
Year Built
1959
Construction
mid-century modern
Listing Agency:
Coldwell Banker Realty - Washington
Listed By:
George E Olson · License #sp98362415
(202) 203-0339
Source:
Kwcapitalproperties
Added: Mar 18
Changed: Sep 5
Last Checked: Sep 13 at 1:06PM
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 Coldwell Banker Realty - Washington
Investment Insights
Based on property information with market context.
Unit 202 is a 717-square-foot residential income property in a low-rise building constructed in 1959. The residence features hardwood floors, a spacious galley kitchen with stainless steel appliances, and ample closet storage. Utilities are included, with both private and shared storage options available.
Shared amenities include a laundry lounge and a roof deck with views toward the Capitol. The property is located in Capitol Hill at 305 C Street NE, near the Senate office buildings, the Capitol, and Union Station. Restaurants and shops are situated along the route between the property and Union Station.
Shared amenities include a laundry lounge and a roof deck with views toward the Capitol. The property is located in Capitol Hill at 305 C Street NE, near the Senate office buildings, the Capitol, and Union Station. Restaurants and shops are situated along the route between the property and Union Station.
Key Highlights
- 717 SF residential unit in a 1959 low‑rise building
- Hardwood flooring and stainless steel appliances
- Large galley kitchen with ample closet storage
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
$12,207
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
3.44%
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%
$244,140
$244.1K
Cap Rate 7%
$174,386
$174.4K
Cap Rate 9%
$135,633
$135.6K
Market Conditions
NOI Build-Up for 717 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
$23.7K $33.00/SF
− Vacancy
−$1.5K −$2.05/SF
EGI
$22.2K $30.95/SF
− OpEx
−$10.0K −$13.93/SF
NOI
$12.2K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /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%
$244,140
Cap Rate 7%
$174,386
Cap Rate 9%
$135,633
Alternative Uses
Best Use
Apartment 5plus
$174.4K
$152.6K – $203.5K
NOI $12,207 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$370.2K
$323.9K – $431.9K
NOI $25,913 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,416
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Unit 202 combines hardwood flooring, a galley kitchen, included utilities, and access to shared laundry facilities.
Where is this residential income property located?
The property is located at 305 C STREET NE Unit 202 Washington, DC.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 717 SF residential unit in a 1959 low‑rise building; Hardwood flooring and stainless steel appliances; Large galley kitchen with ample closet storage
