Two-Level Residential Income
For Sale
$669,000
3901 NW LANGLEY COURT NW Unit A553, Washington, DC 20016
Corner condominium with renovated interiors, private lower-level access, and abundant natural light across four exposures.
Property Size1,550 SF
Price / SF$431.61
Days on Market33
Property Features for 3901 NW LANGLEY COURT NW Unit A553
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,617
Amenities
McLean Ballroom
outdoor swimming pool
barbeque areas
park-like grounds
tennis courts
playgrounds
community garden
dog park
trails of Glover Park
Building Details
Building Size
1,550 SF
Year Built
1942
Listing Agency:
Coldwell Banker Realty - Washington
Listed By:
Ben Dursch · License #SP98367540
(202) 288-4334
Source:
Kerishull
Added: Aug 13
Changed: Sep 13
Last Checked: Sep 13 at 1:03PM
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 approximately 1,550-square-foot, two-bedroom, two-and-a-half-bath condominium occupies two levels within McLean Gardens. The corner layout provides four exposures and strong natural light, with an open main level connecting the living and dining areas. Recent improvements include a renovated kitchen with new cabinetry, quartzite countertops, full-height backsplash, lighting, hardware, and stainless-steel appliances. Both full bathrooms have been updated, while engineered hardwood and luxury vinyl flooring, custom wood blinds, recessed LED lighting, and refreshed fixtures add further interior upgrades.
The lower level includes the primary suite, a second bedroom, a second full bath, a private foyer, and access through both the interior stairway and a separate entrance. Storage includes multiple reach-in closets and custom Elfa systems. A washer and dryer were added in 2023, and luxury vinyl flooring was installed in 2020.
McLean Gardens is a professionally managed 23-acre condominium community with an outdoor pool, barbecue areas, tennis courts, playgrounds, a community garden, dog park, special events facility, and access to Glover Park trails. The property is near City Ridge, Cathedral Commons, grocery stores, dining, fitness facilities, Capital Bikeshare, Metrobus, and Metrorail.
The lower level includes the primary suite, a second bedroom, a second full bath, a private foyer, and access through both the interior stairway and a separate entrance. Storage includes multiple reach-in closets and custom Elfa systems. A washer and dryer were added in 2023, and luxury vinyl flooring was installed in 2020.
McLean Gardens is a professionally managed 23-acre condominium community with an outdoor pool, barbecue areas, tennis courts, playgrounds, a community garden, dog park, special events facility, and access to Glover Park trails. The property is near City Ridge, Cathedral Commons, grocery stores, dining, fitness facilities, Capital Bikeshare, Metrobus, and Metrorail.
Key Highlights
- Approximately 1,550 SF two‑level corner condominium with 2 bedrooms and 2.5 baths
- Four exposures provide natural light throughout the main living level
- Renovated kitchen with new cabinetry, quartzite countertops, full‑height backsplash, and stainless‑steel appliances
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
$25,754
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
3.85%
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%
$515,080
$515.1K
Cap Rate 7%
$367,914
$367.9K
Cap Rate 9%
$286,156
$286.2K
Market Conditions
NOI Build-Up for 1,550 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
$49.3K $31.80/SF
− Vacancy
−$2.5K −$1.59/SF
EGI
$46.8K $30.21/SF
− OpEx
−$21.1K −$13.59/SF
NOI
$25.8K $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%
$515,080
Cap Rate 7%
$367,914
Cap Rate 9%
$286,156
Alternative Uses
Best Use
Apartment 5plus
$367.9K
$321.9K – $429.2K
NOI $25,754 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$797.3K
$697.6K – $930.2K
NOI $55,809 @ 7.0% cap · market cap 8.34%
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
1,540
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 - Corner condominium with renovated interiors, private lower-level access, and abundant natural light across four exposures.
Where is this residential income property located?
The property is located at 3901 NW LANGLEY COURT NW Unit A553 Washington, DC.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Approximately 1,550 SF two‑level corner condominium with 2 bedrooms and 2.5 baths; Four exposures provide natural light throughout the main living level; Renovated kitchen with new cabinetry, quartzite countertops, full‑height backsplash, and stainless‑steel appliances
