Two-Unit
New
For Sale
$405,000
3837 1ST ST SE, Washington, DC 20032
Vacant duplex with side access serving the one-bedroom unit.
Property Size1,864 SF
Price / SF$217.27
Days on Market5
Property Features for 3837 1ST ST SE
General Information
Standard status
Active
Size
1,864 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Listing Agency:
CJ Real Estate Solutions, LLC
(301) 661-3740
Listed By:
Christine Jackson
(301) 661-3740
Source:
Imanirealtors
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 10:38AM
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 CJ Real Estate Solutions, LLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units with distinct configurations: one offers 1 bedroom and 1 bath, while the other provides 3 bedrooms and 2 baths. The building encompasses 1,864 square feet and is currently vacant, allowing immediate possession for a new owner.
The one-bedroom residence is entered from the side of the building. The property is located at 3837 1ST ST SE in Washington, DC 20032. An adjoining building is also being offered for sale, with the option to consider a separate transaction.
The one-bedroom residence is entered from the side of the building. The property is located at 3837 1ST ST SE in Washington, DC 20032. An adjoining building is also being offered for sale, with the option to consider a separate transaction.
Key Highlights
- Two‑unit duplex with 1,864 square feet
- Unit mix includes 1‑bedroom, 1‑bath and 3‑bedroom, 2‑bath residences
- Currently vacant
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
$33,398
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
8.25%
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%
$667,960
$668.0K
Cap Rate 7%
$477,114
$477.1K
Cap Rate 9%
$371,089
$371.1K
Market Conditions
NOI Build-Up for 1,864 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
$50.3K $27.00/SF
− Vacancy
−$2.6K −$1.40/SF
EGI
$47.7K $25.60/SF
− OpEx
−$14.3K −$7.68/SF
NOI
$33.4K $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%
$667,960
Cap Rate 7%
$477,114
Cap Rate 9%
$371,089
Alternative Uses
Best Use
Multifamily LT 5
$477.1K
$417.5K – $556.6K
NOI $33,398 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$442.4K
$387.1K – $516.2K
NOI $30,971 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$958.8K
$838.9K – $1.12M
NOI $67,115 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 20032, DC
38,904
Population
19,708
Households
2
Avg Household Size
33
Median Age
23%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
7,482
Density / Sq Mi
$48,146
Median Household Income
$44,487
Median Earnings
$1,285
Median Rent
$391,400
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 - Vacant duplex with side access serving the one-bedroom unit.
Where is this duplex located?
The property is located at 3837 1ST ST SE Washington, DC.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,864 square feet; Unit mix includes 1‑bedroom, 1‑bath and 3‑bedroom, 2‑bath residences; Currently vacant
