Two-Level Residential Income
For Sale
$500,000
343 CEDAR STREET NW Unit 316, Washington, DC 20012
Condominium residence with private balcony, attached garage, and convenient access to transit, dining, shopping, parks, and trails.
Property Size1,156 SF
Price / SF$432.53
Days on Market37
Property Features for 343 CEDAR STREET NW Unit 316
General Information
Standard status
Active
Size
1,156 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,370
Amenities
private balcony
Building Details
Building Size
1,156 SF
Year Built
2005
Listing Agency:
Keller Williams Realty
Listed By:
Deborah K Reynolds · License #BR98374317
(240) 885-6806
Source:
Kerishull
Added: Aug 5
Changed: Sep 5
Last Checked: Sep 10 at 8:06AM
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 Realty
Investment Insights
Based on property information with market context.
This two-level condominium offers 1,156 square feet of living space with a layout that separates shared living areas from the upper-level bedroom suite. The main level brings together living, dining, and kitchen spaces, with large windows, stainless steel appliances, ample cabinetry, and substantial counter space. A glass door leads to a private balcony. Upstairs, the primary suite includes a walk-in closet and an en suite bathroom with a separate soaking tub and shower. An attached garage provides secure parking and additional storage. Built in 2005, the property is located near the Takoma Metro station, with access to Downtown Washington, Silver Spring, Bethesda, and destinations throughout the region. Nearby amenities include Busboys and Poets, Lost Sock Roasters, Whole Foods Market, the Takoma Park Farmers Market, Takoma Recreation Center, parks, and trails.
Key Highlights
- 1,156‑square‑foot two‑level condominium
- Private balcony accessed through a glass sliding door
- Upper‑level primary suite with walk‑in closet and en suite bathroom
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
$19,208
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
3.84%
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%
$384,160
$384.2K
Cap Rate 7%
$274,400
$274.4K
Cap Rate 9%
$213,422
$213.4K
Market Conditions
NOI Build-Up for 1,156 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
$36.8K $31.80/SF
− Vacancy
−$1.8K −$1.59/SF
EGI
$34.9K $30.21/SF
− OpEx
−$15.7K −$13.59/SF
NOI
$19.2K $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%
$384,160
Cap Rate 7%
$274,400
Cap Rate 9%
$213,422
Alternative Uses
Best Use
Apartment 5plus
$274.4K
$240.1K – $320.1K
NOI $19,208 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$594.6K
$520.3K – $693.7K
NOI $41,623 @ 7.0% cap · market cap 8.32%
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
2,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 20012, DC
15,485
Population
7,599
Households
2
Avg Household Size
41
Median Age
59%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
7,374
Density / Sq Mi
$128,234
Median Household Income
$75,138
Median Earnings
$1,638
Median Rent
$838,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with private balcony, attached garage, and convenient access to transit, dining, shopping, parks, and trails.
Where is this residential income property located?
The property is located at 343 CEDAR STREET NW Unit 316 Washington, DC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,156‑square‑foot two‑level condominium; Private balcony accessed through a glass sliding door; Upper‑level primary suite with walk‑in closet and en suite bathroom
