Two-Level Residential Income
For Sale
$499,000
3823 RODMAN STREET NW Unit E23, Washington, DC 20016
A skylit upper-level loft provides flexible space for use as a bedroom, den, office, or guest area.
Property Size999 SF
Price / SF$499.50
Days on Market43
Property Features for 3823 RODMAN STREET NW Unit E23
General Information
Standard status
Active
Size
999 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
McLean Gardens
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,219
Amenities
community pool
tennis courts
Building Details
Building Size
999 SF
Year Built
1942
Listing Agency:
RLAH @properties
Listed By:
Lise Courtney M Howe · License #AB95862
(240) 401-5577
Source:
Canopy-re
Added: Sep 18
Changed: Oct 26
Last Checked: Oct 26 at 3:24PM
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 RLAH @properties
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Investment Insights
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This two-level residential property features a corner layout, cathedral ceiling, and skylights. The main floor has oak flooring and an open living and dining area, along with a renovated kitchen and bath. Upstairs, the loft offers adaptable space, while closets and additional storage provide room for household items. The property was built in 1942.
Set within McLean Gardens in Northwest Washington, DC, the community includes landscaped grounds, a swimming pool, and tennis courts. Pets are welcome. Metro, Whole Foods, restaurants, and shops are within easy reach.
Set within McLean Gardens in Northwest Washington, DC, the community includes landscaped grounds, a swimming pool, and tennis courts. Pets are welcome. Metro, Whole Foods, restaurants, and shops are within easy reach.
Key Highlights
- Two‑level corner layout with a skylit loft
- Cathedral ceiling and oak floors in the main living area
- Renovated kitchen and bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,599
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,980
$332.0K
Cap Rate 7%
$237,129
$237.1K
Cap Rate 9%
$184,433
$184.4K
Market Conditions
NOI Build-Up for 999 SF
Gross rent
$31.8K $31.80/SF
− Vacancy
−$1.6K −$1.59/SF
EGI
$30.2K $30.21/SF
− OpEx
−$13.6K −$13.59/SF
NOI
$16.6K $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%
$331,980
Cap Rate 7%
$237,129
Cap Rate 9%
$184,433
Alternative Uses
Best Use
Apartment 5plus
$237.1K
$207.5K – $276.7K
NOI $16,599 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$513.9K
$449.6K – $599.5K
NOI $35,970 @ 7.0% cap · market cap 7.21%
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
1,761
Businesses Nearby
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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 - A skylit upper-level loft provides flexible space for use as a bedroom, den, office, or guest area.
Where is this residential income property located?
The property is located at 3823 RODMAN STREET NW Unit E23 Washington, DC.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑level corner layout with a skylit loft; Cathedral ceiling and oak floors in the main living area; Renovated kitchen and bath
