Duplex With Individually Metered
For Sale
$875,000
331 E STREET NE, Washington, DC 20002
Historic duplex with two 1-bedroom, 1-bath units and individually metered gas and electric.
Property Size2,104 SF
Price / SF$415.87
Days on Market12
Property Features for 331 E STREET NE
General Information
Standard status
Active
Size
2,104 SF
Property subtype
Duplex
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,932
Amenities
laundry room in basement
individual central air
Building Details
Building Size
2,104 SF
Year Built
1890
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Capital Properties
(703) 297-2730
Listed By:
Stefan Rosu · License #SP98377007
(703) 297-2730
Source:
Kerishull
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 8 at 10:54AM
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.
Built in 1890, this historic duplex offers two separate 1-bedroom, 1-bath units with individually metered gas and electric. Each unit has its own central air, with upgraded kitchens and baths and solid hardwood flooring. A laundry room is located in the basement.
One unit is leased while the second unit is vacant and ready for an owner-occupant. On-street parking is available and there is no alley access.
Conveniently positioned near major destinations, the property has a 96 walk score, 89 transit score, and 96 bike score. It is approximately 0.4 miles from Whole Foods and the H Street Corridor and 0.4 miles from Union Station, with Stanton Park about 0.2 miles away.
One unit is leased while the second unit is vacant and ready for an owner-occupant. On-street parking is available and there is no alley access.
Conveniently positioned near major destinations, the property has a 96 walk score, 89 transit score, and 96 bike score. It is approximately 0.4 miles from Whole Foods and the H Street Corridor and 0.4 miles from Union Station, with Stanton Park about 0.2 miles away.
Key Highlights
- Built in 1890 historic duplex in Capitol Hill
- Two 1‑bedroom, 1‑bath units, gas and electric individually metered
- Central air in both units
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
$40,084
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
4.58%
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%
$801,680
$801.7K
Cap Rate 7%
$572,629
$572.6K
Cap Rate 9%
$445,378
$445.4K
Market Conditions
NOI Build-Up for 2,104 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
$60.6K $28.80/SF
− Vacancy
−$3.3K −$1.58/SF
EGI
$57.3K $27.22/SF
− OpEx
−$17.2K −$8.16/SF
NOI
$40.1K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /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%
$801,680
Cap Rate 7%
$572,629
Cap Rate 9%
$445,378
Alternative Uses
Best Use
Multifamily LT 5
$572.6K
$501.1K – $668.1K
NOI $40,084 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$511.7K
$447.8K – $597.0K
NOI $35,820 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$1.09M
$950.5K – $1.27M
NOI $76,041 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,052
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
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 - Historic duplex with two 1-bedroom, 1-bath units and individually metered gas and electric.
Where is this duplex located?
The property is located at 331 E STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Built in 1890 historic duplex in Capitol Hill; Two 1‑bedroom, 1‑bath units, gas and electric individually metered; Central air in both units
