Bloomingdale Two-Unit Investment
For Sale
$1,150,000
35 T STREET NW, Washington, DC 20001
Renovated two-unit property in Bloomingdale with strong cash flow.
Property Size2,601 SF
Price / SF$442.14
Days on Market102
Property Features for 35 T STREET NW
General Information
Standard status
Active
Size
2,601 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$12,147
Building Details
Building Size
2,601 SF
Year Built
1905
Listing Agency:
Keller Williams Realty
(571) 436-7551
Listed By:
Avisha Kassir · License #SP98377039
(571) 436-7551
Source:
Kwcapitalproperties
Added: May 20
Changed: Aug 23
Last Checked: Aug 26 at 2:32PM
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.
Located in the Bloomingdale neighborhood of Washington DC, 35 T Street NW is a renovated two-unit property. Originally constructed in 1905 and remodeled in 2018/2019, the building has approximately 2,601 total square feet. The property is configured as two separate residences, each with private entrances and full kitchens, but maintains the ability to be reconnected into a single residence. The upper unit features 3 bedrooms and 2.5 bathrooms across two levels, with an approximate area of 1,734 square feet. The current rent is $4,300 per month, with the lease term running from the current date to May 31, 2027. The tenant is responsible for electric, gas, internet, water, and sewer expenses, and no pets are allowed. The lower unit includes 1 bedroom and 1 bathroom on a single level, covering approximately 867 square feet. The current rent is $1,850 per month, with the lease term from October 20, 2025, to August 31, 2026. The tenant has expressed interest in renewing the lease and pays for electric, gas, internet, water, and sewer. One dog is allowed in the lower unit. Property highlights include a private rear deck, rear parking pad, separate entrances for both units, an interior staircase connection with a locked separation door, high ceilings, large windows, modern open layouts with exposed brick and designer finishes, quartz countertops, a waterfall island, tray ceilings, and recessed lighting.
Key Highlights
- Strong in‑place cash flow: two units currently rented for a combined $6,150/month.
- Fully renovated in 2018/2019, offering modern amenities and finishes.
- Configured as two separate residences with private entrances and full kitchens, providing immediate rental income.
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
$46,603
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
4.05%
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%
$932,060
$932.1K
Cap Rate 7%
$665,757
$665.8K
Cap Rate 9%
$517,811
$517.8K
Market Conditions
NOI Build-Up for 2,601 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
$70.2K $27.00/SF
− Vacancy
−$3.7K −$1.40/SF
EGI
$66.6K $25.60/SF
− OpEx
−$20.0K −$7.68/SF
NOI
$46.6K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /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%
$932,060
Cap Rate 7%
$665,757
Cap Rate 9%
$517,811
Alternative Uses
Best Use
Multifamily LT 5
$665.8K
$582.5K – $776.7K
NOI $46,603 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$617.4K
$540.2K – $720.3K
NOI $43,217 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,651 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,005
Businesses Nearby
Explore this area
Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
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 - Renovated two-unit property in Bloomingdale with strong cash flow.
Where is this duplex located?
The property is located at 35 T STREET NW Washington, DC.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Strong in‑place cash flow: two units currently rented for a combined $6,150/month.; Fully renovated in 2018/2019, offering modern amenities and finishes.; Configured as two separate residences with private entrances and full kitchens, providing immediate rental income.
