Residential Income Property with
New
For Sale
$220,000
4000 CATHEDRAL AVE NW #642B, Washington, DC 20016
WASHINGTON, DC
Property Size900 SF
Price / SF$244.44
Days on Market7
Property Features for 4000 CATHEDRAL AVE NW #642B
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Subdivision
OBSERVATORY CIRCLE
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Amenities
convenience market
guest rooms
library
hair salon
dry cleaners
gym/fitness room
Building Details
Year built
1931
Listing Agency:
Chevy Chase Circle
(202) 966-1400
Listed By:
Lisa Bradburn
(202) 903-6850
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 14 at 5:06PM
MLS# DCDC2280726
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Apartment 642B offers approximately 900 square feet with a gracious entry, a large living room, separate dining space, and a galley kitchen. The living area includes a home office area, built-in bookcases, and storage, while the dining room has additional cabinetry and a wall of windows. The kitchen features stainless appliances, stone countertops, and its own window. The king-size bedroom includes three closets, with another hall closet near the bathroom.
Interior details include crown moldings, parquet flooring, nearly 9-foot ceilings, and an updated bathroom with a tub and shower. The residence is located within The Westchester, a 1931 property set on approximately 10 acres with landscaped grounds, a tiered sunken garden, and fountain. Building amenities include a convenience market, guest rooms, library, hair salon, dry cleaners, and gym/fitness room. A MetroBus stop is directly in front, with another route within a block, while restaurants, retail, medical offices, and neighborhood destinations are nearby.
Interior details include crown moldings, parquet flooring, nearly 9-foot ceilings, and an updated bathroom with a tub and shower. The residence is located within The Westchester, a 1931 property set on approximately 10 acres with landscaped grounds, a tiered sunken garden, and fountain. Building amenities include a convenience market, guest rooms, library, hair salon, dry cleaners, and gym/fitness room. A MetroBus stop is directly in front, with another route within a block, while restaurants, retail, medical offices, and neighborhood destinations are nearby.
Key Highlights
- Approximately 900 square feet in apartment 642B
- King‑size bedroom with three closets plus an additional hall closet
- Windowed galley kitchen with stainless appliances and stone countertops
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
$14,954
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
6.80%
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%
$299,080
$299.1K
Cap Rate 7%
$213,629
$213.6K
Cap Rate 9%
$166,156
$166.2K
Market Conditions
NOI Build-Up for 900 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
$28.6K $31.80/SF
− Vacancy
−$1.4K −$1.59/SF
EGI
$27.2K $30.21/SF
− OpEx
−$12.2K −$13.59/SF
NOI
$15.0K $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%
$299,080
Cap Rate 7%
$213,629
Cap Rate 9%
$166,156
Alternative Uses
Best Use
Apartment 5plus
$213.6K
$186.9K – $249.2K
NOI $14,954 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$462.9K
$405.1K – $540.1K
NOI $32,405 @ 7.0% cap · market cap 14.73%
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
1,353
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 - Apartment residence with separate living and dining areas, a windowed kitchen, and extensive built-in storage.
Where is this residential income property located?
The property is located at 4000 CATHEDRAL AVE NW #642B Washington, DC.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Approximately 900 square feet in apartment 642B; King‑size bedroom with three closets plus an additional hall closet; Windowed galley kitchen with stainless appliances and stone countertops
