Renovated 3-Bedroom
For Sale
$700,000
3621 39TH STREET NW Unit B320, Washington, DC 20016
Two-level residential income property with separate entrances, refreshed interiors, and access to extensive community amenities.
Property Size1,365 SF
Price / SF$512.82
Days on Market98
Property Features for 3621 39TH STREET NW Unit B320
General Information
Standard status
Active
Size
1,365 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,860
Amenities
outdoor pool
community center
ballroom
barbecue areas
lushly landscaped grounds
dog park
community garden
playgrounds
tennis courts
trails of Glover Archbold Park
in-unit washer and dryer
Building Details
Building Size
1,365 SF
Year Built
1942
Listing Agency:
Urban Brokers, LLC
Listed By:
Mark Oliver Meyerdirk · License #PB98360195
(202) 489-6150
Source:
Kerishull
Added: May 29
Changed: Aug 31
Last Checked: Sep 2 at 12:03AM
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 Urban Brokers, LLC
Investment Insights
Based on property information with market context.
This two-level residential income property offers 1,365 square feet with three bedrooms and two full bathrooms. The 1942-built duplex has been comprehensively updated with stainless steel kitchen appliances, refinished hardwood flooring, new carpeting, fresh paint, updated lighting, new door hardware, and renovated bathrooms. Its main level includes an open living and dining area, while the lower level provides a den, two bedrooms, a full bathroom, in-unit laundry, and a second entrance.
The property is part of McLean Gardens in Washington, DC, with access to an outdoor pool, community center and ballroom, barbecue areas, and landscaped grounds. Nearby amenities include a dog park, community garden, playgrounds, tennis courts, Glover Archbold Park trails, Wegmans, OneLife Fitness, shopping, dining, and public transportation.
The property is part of McLean Gardens in Washington, DC, with access to an outdoor pool, community center and ballroom, barbecue areas, and landscaped grounds. Nearby amenities include a dog park, community garden, playgrounds, tennis courts, Glover Archbold Park trails, Wegmans, OneLife Fitness, shopping, dining, and public transportation.
Key Highlights
- 1,365 square feet across two levels
- Three bedrooms and two full bathrooms
- Updated kitchen appliances, bathrooms, flooring, lighting, and hardware
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
$22,680
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
3.24%
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%
$453,600
$453.6K
Cap Rate 7%
$324,000
$324.0K
Cap Rate 9%
$252,000
$252.0K
Market Conditions
NOI Build-Up for 1,365 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
$43.4K $31.80/SF
− Vacancy
−$2.2K −$1.59/SF
EGI
$41.2K $30.21/SF
− OpEx
−$18.6K −$13.59/SF
NOI
$22.7K $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%
$453,600
Cap Rate 7%
$324,000
Cap Rate 9%
$252,000
Alternative Uses
Best Use
Apartment 5plus
$324.0K
$283.5K – $378.0K
NOI $22,680 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$702.1K
$614.4K – $819.1K
NOI $49,148 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level residential income property with separate entrances, refreshed interiors, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 3621 39TH STREET NW Unit B320 Washington, DC.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 1,365 square feet across two levels; Three bedrooms and two full bathrooms; Updated kitchen appliances, bathrooms, flooring, lighting, and hardware
