Unit 402 One-Bedroom Income
For Sale
$249,000
400 O STREET SW Unit 402, Washington, DC 20024
Top-floor one-bedroom condo with deeded indoor garage parking and dedicated storage, with electricity, central air, gas heat, and water included.
Property Size777 SF
Price / SF$320.46
Days on Market139
Property Features for 400 O STREET SW Unit 402
General Information
Standard status
Active
Size
777 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,420
Amenities
storage unit
Building Details
Building Size
777 SF
Year Built
1965
Listing Agency:
Keller Williams Capital Properties
(202) 630-7976
Listed By:
Brandon M Scott · License #SP98377982
(202) 630-7976
Source:
Kwcapitalproperties
Added: Apr 7
Changed: Aug 21
Last Checked: Aug 22 at 11:12AM
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 Keller Williams Capital Properties
Investment Insights
Based on property information with market context.
Unit 402 is a top-floor, one-bedroom residential income condo at 400 O Street SW, Washington, DC 20024. The layout spans 777 square feet and is designed for comfortable living and dining, with a generously sized bedroom plus flexible space for working from home or entertaining. The unit benefits from added privacy with no neighbor directly overhead and receives excellent natural light.
Ownership includes a deeded indoor garage parking space, along with a separate storage unit suitable for bicycles, seasonal items, and household extras. The monthly fee covers electricity, central air conditioning, gas heating, and water, consolidating multiple major household expenses into one predictable payment.
Built in 1965, Unit 402 is positioned on the uppermost residential level of the building and offers everyday convenience in the Southwest area, with proximity to Waterfront Metro, The Wharf, Navy Yard, Audi Field, Nationals Park, and downtown Washington.
Ownership includes a deeded indoor garage parking space, along with a separate storage unit suitable for bicycles, seasonal items, and household extras. The monthly fee covers electricity, central air conditioning, gas heating, and water, consolidating multiple major household expenses into one predictable payment.
Built in 1965, Unit 402 is positioned on the uppermost residential level of the building and offers everyday convenience in the Southwest area, with proximity to Waterfront Metro, The Wharf, Navy Yard, Audi Field, Nationals Park, and downtown Washington.
Key Highlights
- 777 sq ft top‑floor one‑bedroom condo with no neighbor directly overhead
- Deeded indoor garage parking space included with ownership
- Separate storage unit for bicycles, seasonal items, and household extras
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
$12,910
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
5.18%
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%
$258,200
$258.2K
Cap Rate 7%
$184,429
$184.4K
Cap Rate 9%
$143,444
$143.4K
Market Conditions
NOI Build-Up for 777 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
$24.7K $31.80/SF
− Vacancy
−$1.2K −$1.59/SF
EGI
$23.5K $30.21/SF
− OpEx
−$10.6K −$13.59/SF
NOI
$12.9K $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%
$258,200
Cap Rate 7%
$184,429
Cap Rate 9%
$143,444
Alternative Uses
Best Use
Apartment 5plus
$184.4K
$161.4K – $215.2K
NOI $12,910 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$399.7K
$349.7K – $466.3K
NOI $27,976 @ 7.0% cap · market cap 11.24%
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
1,520
Businesses Nearby
Explore this area
Business Placement
Demographics for 20024, DC
15,952
Population
11,560
Households
1.4
Avg Household Size
37
Median Age
70%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
7,251
Density / Sq Mi
$102,623
Median Household Income
$94,419
Median Earnings
$2,121
Median Rent
$497,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor one-bedroom condo with deeded indoor garage parking and dedicated storage, with electricity, central air, gas heat, and water included.
Where is this residential income property located?
The property is located at 400 O STREET SW Unit 402 Washington, DC.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 777 sq ft top‑floor one‑bedroom condo with no neighbor directly overhead; Deeded indoor garage parking space included with ownership; Separate storage unit for bicycles, seasonal items, and household extras
