Two-Level Residential Income
For Sale
$649,900
3930 LANGLEY COURT NW Unit B638, Washington, DC 20016
Corner residence with two bedrooms, two-and-a-half baths, and condominium-style community amenities.
Property Size1,342 SF
Price / SF$484.28
Days on Market25
Property Features for 3930 LANGLEY COURT NW Unit B638
General Information
Standard status
Active
Size
1,342 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,520
Amenities
outdoor swimming pool
clubhouse
multiple grilling and picnic areas
playground
Building Details
Building Size
1,342 SF
Year Built
1942
Listing Agency:
Redfin Corp
(301) 366-1970
Listed By:
Mehrnaz Bazargan · License #SP98376946
(301) 366-1970
Source:
Kerishull
Added: Jul 23
Changed: Aug 15
Last Checked: Aug 15 at 12:09PM
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 Redfin Corp
Investment Insights
Based on property information with market context.
This two-level corner property provides 1,342 square feet with two bedrooms and 2.5 bathrooms. The main floor combines hardwood flooring, a large living area, a defined dining space, and a powder room. The kitchen includes custom cabinetry, granite counters, stainless steel appliances, and substantial work surfaces. Upstairs, the primary suite offers extensive closet storage and an ensuite bath with floor-to-ceiling tile, double vanity, and soaking tub. A second full bathroom and full-size laundry area complete the bedroom level.
McLean Gardens provides an outdoor pool, clubhouse, playground, grilling and picnic areas, landscaped green space, and on-site management and maintenance. Newark Park is adjacent and includes a dog park, community garden, and tennis courts. The property is positioned between the Tenleytown-AU and Cleveland Park Metro stations, with Metrobus service nearby. Cathedral Commons and City Ridge provide nearby shopping, dining, and daily conveniences. Street parking is available, and parking spaces within the community may be rented or purchased.
McLean Gardens provides an outdoor pool, clubhouse, playground, grilling and picnic areas, landscaped green space, and on-site management and maintenance. Newark Park is adjacent and includes a dog park, community garden, and tennis courts. The property is positioned between the Tenleytown-AU and Cleveland Park Metro stations, with Metrobus service nearby. Cathedral Commons and City Ridge provide nearby shopping, dining, and daily conveniences. Street parking is available, and parking spaces within the community may be rented or purchased.
Key Highlights
- 1,342 SF two‑level corner property with 2 bedrooms and 2.5 bathrooms
- Kitchen with custom cabinetry, granite countertops, and stainless steel appliances
- Primary suite includes ensuite bath, double vanity, soaking tub, and abundant closet space
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
$22,298
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
3.43%
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%
$445,960
$446.0K
Cap Rate 7%
$318,543
$318.5K
Cap Rate 9%
$247,756
$247.8K
Market Conditions
NOI Build-Up for 1,342 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
$42.7K $31.80/SF
− Vacancy
−$2.1K −$1.59/SF
EGI
$40.5K $30.21/SF
− OpEx
−$18.2K −$13.59/SF
NOI
$22.3K $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%
$445,960
Cap Rate 7%
$318,543
Cap Rate 9%
$247,756
Alternative Uses
Best Use
Apartment 5plus
$318.5K
$278.7K – $371.6K
NOI $22,298 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.3K
$604.0K – $805.3K
NOI $48,320 @ 7.0% cap · market cap 7.43%
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
1,540
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner residence with two bedrooms, two-and-a-half baths, and condominium-style community amenities.
Where is this residential income property located?
The property is located at 3930 LANGLEY COURT NW Unit B638 Washington, DC.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 1,342 SF two‑level corner property with 2 bedrooms and 2.5 bathrooms; Kitchen with custom cabinetry, granite countertops, and stainless steel appliances; Primary suite includes ensuite bath, double vanity, soaking tub, and abundant closet space
