Corner-Unit Residential Income
For Sale
$375,000
329 RHODE ISLAND AVENUE NE Unit 104, Washington, DC 20002
Elevated condominium residence with an efficient two-bedroom layout and shared fitness and rooftop amenities.
Property Size763 SF
Days on Market25
Property Features for 329 RHODE ISLAND AVENUE NE Unit 104
General Information
Standard status
Active
Size
763 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,022
Building Details
Building Size
763 SF
Year Built
1927
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Brittanie DeChino · License #SP98378319
(202) 802-0158
Source:
Kwcapitalproperties
Added: Aug 22
Changed: Sep 7
Last Checked: Sep 14 at 9:53AM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
This elevated corner condominium unit offers three-sided exposure and a well-organized interior with an entry foyer, open kitchen, defined living and dining areas, and two bedrooms positioned away from the primary street exposure. The kitchen includes stainless steel appliances and stone countertops, while hardwood flooring and an in-unit washer and dryer add practical functionality. The residence is part of a secure condominium building originally constructed in 1927 and comprehensively remodeled in 2012.
Shared features include a rooftop deck, fitness center, landscaped grounds, and basement storage cubbies. The property is situated near Bryant Street Market, Alamo Drafthouse, Kraken Courts, F45, City State Brewing, Bouldering Project, Union Kitchen Market, and Lost Generation Brewing. The Metropolitan Branch Trail is nearby, and RIA Metro on the red line is less than 1/2 mile away.
Shared features include a rooftop deck, fitness center, landscaped grounds, and basement storage cubbies. The property is situated near Bryant Street Market, Alamo Drafthouse, Kraken Courts, F45, City State Brewing, Bouldering Project, Union Kitchen Market, and Lost Generation Brewing. The Metropolitan Branch Trail is nearby, and RIA Metro on the red line is less than 1/2 mile away.
Key Highlights
- Corner unit with three‑sided exposure and elevated position above ground level
- Two‑bedroom layout with foyer, open kitchen, and distinct living and dining areas
- Stainless steel appliances, stone countertops, hardwood floors, and in‑unit washer/dryer
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
$12,990
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
3.46%
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%
$259,800
$259.8K
Cap Rate 7%
$185,571
$185.6K
Cap Rate 9%
$144,333
$144.3K
Market Conditions
NOI Build-Up for 763 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
$25.2K $33.00/SF
− Vacancy
−$1.6K −$2.05/SF
EGI
$23.6K $30.95/SF
− OpEx
−$10.6K −$13.93/SF
NOI
$13.0K $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%
$259,800
Cap Rate 7%
$185,571
Cap Rate 9%
$144,333
Alternative Uses
Best Use
Apartment 5plus
$185.6K
$162.4K – $216.5K
NOI $12,990 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$393.9K
$344.7K – $459.6K
NOI $27,576 @ 7.0% cap · market cap 7.35%
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
Location Intelligence
Trade Area within ½ mile
1,553
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Elevated condominium residence with an efficient two-bedroom layout and shared fitness and rooftop amenities.
Where is this residential income property located?
The property is located at 329 RHODE ISLAND AVENUE NE Unit 104 Washington, DC.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Corner unit with three‑sided exposure and elevated position above ground level; Two‑bedroom layout with foyer, open kitchen, and distinct living and dining areas; Stainless steel appliances, stone countertops, hardwood floors, and in‑unit washer/dryer
