Two-Level Residential Income
For Sale
$749,500
Pending
3815 RODMAN STREET NW Unit B14, Washington, DC 20016
Renovated kitchen, two full baths, separate entrances, and assigned parking complement the flexible residential layout.
Property Size1,585 SF
Days on Market53
Property Features for 3815 RODMAN STREET NW Unit B14
General Information
Standard status
Pending
Size
1,585 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,481
Amenities
outdoor pool
tot lot
BBQ
ballroom
public playground
tennis court
dog park
neighborhood garden
washer & dryer
central air
wood floors
Building Details
Building Size
1,585 SF
Year Built
1942
Listing Agency:
Coldwell Banker Realty - Washington
Listed By:
Marjorie R Dick Stuart · License #SP65953
(240) 731-8079
Source:
Barnesrealestatecompany
Added: Jul 24
Changed: Aug 31
Last Checked: Sep 13 at 1:42PM
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 Coldwell Banker Realty - Washington
Investment Insights
Based on property information with market context.
This two-level residential income property offers 1,585 square feet with two bedrooms, a den or guest room, two full baths, and two separate entrances. The layout places one bedroom on the main level and a primary suite downstairs, where French doors open to a walk-in closet with custom shelving, hanging space, and cabinetry. A renovated kitchen with generous counter space connects to the living and dining areas. Additional features include wood floors, central air, a washer and dryer, windows throughout, and assigned private parking. Built in 1942, the property is located in McLean Gardens near Metro, Cathedral Commons, Wegmans, City Ridge shops and restaurants, parks, a library, and other Upper Northwest DC amenities. Community amenities include an outdoor pool, tennis court, dog park, neighborhood garden, tot lot, BBQs, and use of the McLean Gardens ballroom.
Key Highlights
- 1,585‑square‑foot two‑bedroom layout with a separate den or guest room
- Two levels, two full baths, and two separate entrances
- Renovated kitchen with generous counter space and open flow to living and dining areas
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
$26,336
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
3.51%
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%
$526,720
$526.7K
Cap Rate 7%
$376,229
$376.2K
Cap Rate 9%
$292,622
$292.6K
Market Conditions
NOI Build-Up for 1,585 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
$50.4K $31.80/SF
− Vacancy
−$2.5K −$1.59/SF
EGI
$47.9K $30.21/SF
− OpEx
−$21.5K −$13.59/SF
NOI
$26.3K $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%
$526,720
Cap Rate 7%
$376,229
Cap Rate 9%
$292,622
Alternative Uses
Best Use
Apartment 5plus
$376.2K
$329.2K – $438.9K
NOI $26,336 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$815.3K
$713.4K – $951.2K
NOI $57,069 @ 7.0% cap · market cap 7.61%
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
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated kitchen, two full baths, separate entrances, and assigned parking complement the flexible residential layout.
Where is this residential income property located?
The property is located at 3815 RODMAN STREET NW Unit B14 Washington, DC.
What is the asking price?
The asking price for this property is $749,500.
What are key features of this property?
This property features: 1,585‑square‑foot two‑bedroom layout with a separate den or guest room; Two levels, two full baths, and two separate entrances; Renovated kitchen with generous counter space and open flow to living and dining areas
