Top-Floor Residential Income
For Sale
$735,000
4000 CATHEDRAL AVENUE NW Unit 804B, Washington, DC 20016
Three exposures and a private balcony extend the living and entertaining space of this cooperative residence.
Property Size2,000 SF
Price / SF$367.50
Days on Market82
Property Features for 4000 CATHEDRAL AVENUE NW Unit 804B
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1,057,676
Building Details
Building Size
2,000 SF
Year Built
1931
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Elizabeth Bradburn · License #SP98361052
(202) 903-6850
Source:
Kerishull
Added: Jun 25
Changed: Aug 31
Last Checked: Sep 13 at 12:59PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
Set within the historic Westchester, this top-floor cooperative residence offers approximately 2,000 square feet including the balcony. The three-bedroom, two-bath layout features an entry gallery, eat-in kitchen, butler’s pantry, dining room, generous closets, crown moldings, and bedrooms with well-proportioned dimensions. Ceiling height is approximately 9 feet, and installation of a washer and dryer has been approved for the middle bedroom or office closet. A private balcony provides additional outdoor space.
The property occupies approximately 10 acres of maintained grounds with a tiered sunken garden. On-site amenities include a convenience market, guest rooms, library, hair salon, dry cleaners, and gym/fitness room. A MetroBus stop is directly in front of the property, with D96 service no more than a block away from the D90 route. Restaurants, retail, and neighborhood destinations are nearby, including Foxhall Square, Cathedral Commons, City Ridge, Glover Park, Washington National Cathedral, Giant, Trader Joe’s, Wegmans, and Wagshal’s. The fee includes utilities other than internet and cable, along with property taxes.
The property occupies approximately 10 acres of maintained grounds with a tiered sunken garden. On-site amenities include a convenience market, guest rooms, library, hair salon, dry cleaners, and gym/fitness room. A MetroBus stop is directly in front of the property, with D96 service no more than a block away from the D90 route. Restaurants, retail, and neighborhood destinations are nearby, including Foxhall Square, Cathedral Commons, City Ridge, Glover Park, Washington National Cathedral, Giant, Trader Joe’s, Wegmans, and Wagshal’s. The fee includes utilities other than internet and cable, along with property taxes.
Key Highlights
- Top‑floor 3‑bedroom, 2‑bath cooperative residence with three exposures
- Private balcony adds outdoor space to the approximately 2,000‑square‑foot residence
- Approximately 9' ceilings, gallery foyer, eat‑in kitchen, butler’s pantry, and crown moldings
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
$33,231
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
4.52%
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%
$664,620
$664.6K
Cap Rate 7%
$474,729
$474.7K
Cap Rate 9%
$369,233
$369.2K
Market Conditions
NOI Build-Up for 2,000 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
$63.6K $31.80/SF
− Vacancy
−$3.2K −$1.59/SF
EGI
$60.4K $30.21/SF
− OpEx
−$27.2K −$13.59/SF
NOI
$33.2K $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%
$664,620
Cap Rate 7%
$474,729
Cap Rate 9%
$369,233
Alternative Uses
Best Use
Apartment 5plus
$474.7K
$415.4K – $553.9K
NOI $33,231 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$900.2K – $1.20M
NOI $72,012 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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 - Three exposures and a private balcony extend the living and entertaining space of this cooperative residence.
Where is this residential income property located?
The property is located at 4000 CATHEDRAL AVENUE NW Unit 804B Washington, DC.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Top‑floor 3‑bedroom, 2‑bath cooperative residence with three exposures; Private balcony adds outdoor space to the approximately 2,000‑square‑foot residence; Approximately 9' ceilings, gallery foyer, eat‑in kitchen, butler’s pantry, and crown moldings
