Two-Unit Duplex with Updated Lower
For Sale
$499,000
Pending
320 Atlantic Street Southeast, Washington, DC 20032
An occupied upper residence pairs with a recently updated vacant lower unit, offering flexibility for an owner-occupant or investor.
Property Size2,222 SF
Days on Market144
Property Features for 320 Atlantic Street Southeast
General Information
Standard status
Pending
Size
2,222 SF
Property subtype
Multi-Family / Fee Simple
Zoning
R-3
Units
Unit Mix
1 x 5BR/2BA, 1 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,166
Amenities
No
No Pool
Building Details
Year Built
1947
Buildings
1
Listing Agency:
Keller Williams Capital Properties
(202) 601-0160
Listed By:
Abel M Gebremichael · License #SP98377913
(202) 601-0160
Source:
Compass
Added: Apr 9
Changed: Aug 29
Last Checked: Aug 29 at 4:19PM
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 Keller Williams Capital Properties
Investment Insights
Based on property information with market context.
This semi-detached duplex contains 2,222 square feet and was built in 1947. The upper residence spans two levels and includes 5 bedrooms and 2 bathrooms; it is occupied through the Housing Choice Voucher Program. The lower residence has 2 bedrooms and is vacant following updates that include a neutral interior finish, white kitchen cabinetry, and new carpeting.
The property is located at 320 Atlantic Street Southeast in Washington, DC, within city limits and Washington County. It carries R-3 zoning and is served by District of Columbia Public Schools. The two-unit configuration supports either owner occupancy with a separate residence or continued use as an income property, as described in the source information.
The property is located at 320 Atlantic Street Southeast in Washington, DC, within city limits and Washington County. It carries R-3 zoning and is served by District of Columbia Public Schools. The two-unit configuration supports either owner occupancy with a separate residence or continued use as an income property, as described in the source information.
Key Highlights
- 2,222‑square‑foot duplex built in 1947
- Upper unit spans two levels with 5 bedrooms and 2 bathrooms
- Lower unit offers 2 bedrooms and is currently vacant
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
$39,812
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
7.98%
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%
$796,240
$796.2K
Cap Rate 7%
$568,743
$568.7K
Cap Rate 9%
$442,356
$442.4K
Market Conditions
NOI Build-Up for 2,222 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
$60.0K $27.00/SF
− Vacancy
−$3.1K −$1.40/SF
EGI
$56.9K $25.60/SF
− OpEx
−$17.1K −$7.68/SF
NOI
$39.8K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$796,240
Cap Rate 7%
$568,743
Cap Rate 9%
$442,356
Alternative Uses
Best Use
Multifamily LT 5
$568.7K
$497.7K – $663.5K
NOI $39,812 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$527.4K
$461.5K – $615.3K
NOI $36,920 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,005 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
666
Businesses Nearby
Explore this area
Business Placement
Demographics for 20032, DC
38,904
Population
19,708
Households
2
Avg Household Size
33
Median Age
23%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
7,482
Density / Sq Mi
$48,146
Median Household Income
$44,487
Median Earnings
$1,285
Median Rent
$391,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - An occupied upper residence pairs with a recently updated vacant lower unit, offering flexibility for an owner-occupant or investor.
Where is this duplex located?
The property is located at 320 Atlantic Street Southeast Washington, DC.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,222‑square‑foot duplex built in 1947; Upper unit spans two levels with 5 bedrooms and 2 bathrooms; Lower unit offers 2 bedrooms and is currently vacant
