Penthouse Residential Income
For Sale
$464,900
3223 WARDER STREET NW #4, Washington, DC 20010
Updated penthouse residence with private baths, rooftop access, and a dedicated rear parking space near Georgia Avenue amenities.
Property Size1,682 SF
Price / SF$276.40
Days on Market11
Property Features for 3223 WARDER STREET NW #4
General Information
Standard status
Active
Size
1,682 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
rooftop access
Building Details
Year Built
2017
Listing Agency:
Hometime Realty, LLC
Listed By:
Angie Hashempour · License #0225189051
(301) 793-3614
Source:
Cummingsrealtors
Added: Sep 14
Changed: Sep 24
Last Checked: Sep 24 at 9:51AM
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 Hometime Realty, LLC
Investment Insights
Based on property information with market context.
This 1,682-square-foot penthouse residence, built in 2017, combines an open kitchen and dining area with hardwood flooring, recessed lighting, and upgraded finishes. The kitchen includes granite countertops, while the primary suite adds a walk-in closet and a bath with granite, ceramic tile, and a modern shower. Each bedroom has its own full bathroom, and rooftop access provides additional outdoor space. A dedicated rear parking space is included.
The property is located at 3223 Warder Street NW #4 in Washington, DC, near shopping, dining, and major highways. Nearby destinations include Washington Hospital Center, Children's Hospital, Howard University, Call Your Mother, St. Vincent, Timber Pizza Co., Yes! Market, and Safeway along the Georgia Avenue corridor. The home is also minutes from the Reservoir District and U Street. Its layout and location support consideration for short-term rental use or residential investment.
The property is located at 3223 Warder Street NW #4 in Washington, DC, near shopping, dining, and major highways. Nearby destinations include Washington Hospital Center, Children's Hospital, Howard University, Call Your Mother, St. Vincent, Timber Pizza Co., Yes! Market, and Safeway along the Georgia Avenue corridor. The home is also minutes from the Reservoir District and U Street. Its layout and location support consideration for short-term rental use or residential investment.
Key Highlights
- 1,682‑square‑foot penthouse residence built in 2017
- Each bedroom includes a full bathroom
- Primary suite with walk‑in closet and upgraded bath
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
$27,947
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
6.01%
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%
$558,940
$558.9K
Cap Rate 7%
$399,243
$399.2K
Cap Rate 9%
$310,522
$310.5K
Market Conditions
NOI Build-Up for 1,682 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
$53.5K $31.80/SF
− Vacancy
−$2.7K −$1.59/SF
EGI
$50.8K $30.21/SF
− OpEx
−$22.9K −$13.59/SF
NOI
$27.9K $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%
$558,940
Cap Rate 7%
$399,243
Cap Rate 9%
$310,522
Alternative Uses
Best Use
Apartment 5plus
$399.2K
$349.3K – $465.8K
NOI $27,947 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$865.2K
$757.0K – $1.01M
NOI $60,562 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,620
Businesses Nearby
Explore this area
Business Placement
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated penthouse residence with private baths, rooftop access, and a dedicated rear parking space near Georgia Avenue amenities.
Where is this residential income property located?
The property is located at 3223 WARDER STREET NW #4 Washington, DC.
What is the asking price?
The asking price for this property is $464,900.
What are key features of this property?
This property features: 1,682‑square‑foot penthouse residence built in 2017; Each bedroom includes a full bathroom; Primary suite with walk‑in closet and upgraded bath
