Condominium with Private
For Sale
$379,900
3481 SUMMIT COURT NE Unit 3481, Washington, DC 20018
A fenced patio, in-unit laundry, and dedicated storage complement the updated living space.
Property Size1,678 SF
Price / SF$226.40
Days on Market98
Property Features for 3481 SUMMIT COURT NE Unit 3481
General Information
Standard status
Active
Size
1,678 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Ft. Washington
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,316
Amenities
private fenced front patio
wood-burning fireplace
in-unit washer/dryer
private storage room
Building Details
Building Size
1,678 SF
Year Built
1978
Construction
garden-style
Listing Agency:
Smart Realty, LLC
Listed By:
Claudia E Palacios · License #SP98370336
(240) 832-2555
Source:
Canopy-re
Added: Jul 24
Changed: Oct 27
Last Checked: Oct 26 at 12:41PM
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 Smart Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,678-square-foot condominium features an open living and dining area, a wood-burning fireplace, and a kitchen with tile flooring and in-unit laundry. The primary suite has a walk-in closet and private bathroom, while a renovated hall bathroom serves the secondary bedrooms. A fenced front patio extends the living area outdoors, and a separate 250-square-foot storage room has 9-foot ceilings. Assigned parking is included.
Recent improvements include a 2-year-old HVAC system, a 2-year-old water heater, and a new electrical panel. The property is in Fort Lincoln, near the retail, fitness, and dining options at The Shops at Dakota Crossing, with access to downtown Washington, D.C.
Recent improvements include a 2-year-old HVAC system, a 2-year-old water heater, and a new electrical panel. The property is in Fort Lincoln, near the retail, fitness, and dining options at The Shops at Dakota Crossing, with access to downtown Washington, D.C.
Key Highlights
- 1,678‑square‑foot condominium with a 250‑square‑foot storage room
- Storage room has 9‑foot ceilings
- Fenced front patio and one assigned parking space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,881
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,620
$557.6K
Cap Rate 7%
$398,300
$398.3K
Cap Rate 9%
$309,789
$309.8K
Market Conditions
NOI Build-Up for 1,678 SF
Gross rent
$53.4K $31.80/SF
− Vacancy
−$2.7K −$1.59/SF
EGI
$50.7K $30.21/SF
− OpEx
−$22.8K −$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 Rate 5%
$557,620
Cap Rate 7%
$398,300
Cap Rate 9%
$309,789
Alternative Uses
Best Use
Apartment 5plus
$398.3K
$348.5K – $464.7K
NOI $27,881 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$863.1K
$755.2K – $1.01M
NOI $60,418 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
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Business Placement
Demographics for 20018, DC
20,646
Population
9,753
Households
2.1
Avg Household Size
39
Median Age
46%
College-Educated
89%
High-School Grad
3.0 sq mi
ZIP Area
6,882
Density / Sq Mi
$92,569
Median Household Income
$71,947
Median Earnings
$1,245
Median Rent
$672,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A fenced patio, in-unit laundry, and dedicated storage complement the updated living space.
Where is this residential income property located?
The property is located at 3481 SUMMIT COURT NE Unit 3481 Washington, DC.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 1,678‑square‑foot condominium with a 250‑square‑foot storage room; Storage room has 9‑foot ceilings; Fenced front patio and one assigned parking space
