Residential Income Property with
For Sale
$385,000
3601 38TH STREET NW Unit 303, Washington, DC 20016
The one-bedroom condo includes in-unit laundry and access to a community pool, fitness center, and 24-hour front desk.
Property Size732 SF
Price / SF$525.96
Days on Market47
Property Features for 3601 38TH STREET NW Unit 303
General Information
Standard status
Active
Size
732 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Neighborhood
McLean Gardens
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,218
Amenities
pool
fitness center
off-street parking
on-site manager
24-hr front desk
in-unit washer dryer
fireplace
pet friendly
stainless steel appliances
wood floors
maple cabinets
granite countertops
skylight
Building Details
Building Size
732 SF
Year Built
1985
Listing Agency:
eXp Realty
Listed By:
Canopy Property Group · License #670867
(202) 410-0672
Source:
Canopy-re
Added: Sep 13
Changed: Oct 27
Last Checked: Oct 26 at 12:08PM
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 eXp Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 732-square-foot condominium, built in 1985, has one bedroom and one bathroom. Interior features include a skylight, fireplace, wood flooring, bedroom carpeting, stainless steel appliances, and a kitchen with maple cabinetry and granite countertops. An in-unit washer and dryer and multiple closets provide additional convenience and storage.
Vaughan Place at McLean Gardens offers a community pool, fitness center, off-street parking, an on-site manager, and a 24-hour front desk for security and package reception. Wisconsin Avenue NW shops and restaurants are nearby, with Tenleytown Metro’s Red Line station a 15-minute walk away.
Vaughan Place at McLean Gardens offers a community pool, fitness center, off-street parking, an on-site manager, and a 24-hour front desk for security and package reception. Wisconsin Avenue NW shops and restaurants are nearby, with Tenleytown Metro’s Red Line station a 15-minute walk away.
Key Highlights
- 732‑square‑foot, one‑bedroom, one‑bathroom condominium
- Fireplace, skylight, multiple closets, and in‑unit washer and dryer
- Kitchen features stainless steel appliances, maple cabinets, and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,163
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$243,260
$243.3K
Cap Rate 7%
$173,757
$173.8K
Cap Rate 9%
$135,144
$135.1K
Market Conditions
NOI Build-Up for 732 SF
Gross rent
$23.3K $31.80/SF
− Vacancy
−$1.2K −$1.59/SF
EGI
$22.1K $30.21/SF
− OpEx
−$10.0K −$13.59/SF
NOI
$12.2K $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 Rate 5%
$243,260
Cap Rate 7%
$173,757
Cap Rate 9%
$135,144
Alternative Uses
Best Use
Apartment 5plus
$173.8K
$152.0K – $202.7K
NOI $12,163 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.5K
$329.5K – $439.3K
NOI $26,356 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,554
Businesses Nearby
Explore this area
Business Placement
Demographics for 20016, DC
35,068
Population
15,457
Households
2.3
Avg Household Size
37
Median Age
88%
College-Educated
99%
High-School Grad
4.4 sq mi
ZIP Area
7,970
Density / Sq Mi
$179,107
Median Household Income
$104,275
Median Earnings
$2,105
Median Rent
$1,206,200
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The one-bedroom condo includes in-unit laundry and access to a community pool, fitness center, and 24-hour front desk.
Where is this residential income property located?
The property is located at 3601 38TH STREET NW Unit 303 Washington, DC.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 732‑square‑foot, one‑bedroom, one‑bathroom condominium; Fireplace, skylight, multiple closets, and in‑unit washer and dryer; Kitchen features stainless steel appliances, maple cabinets, and granite countertops
