Four-Level Duplex With Private
For Sale
$899,990
4037 22ND Street NE, Washington, DC 20018
MULTI_FAMILY - Colonial - WASHINGTON, DC
Property Size3,399 SF
Lot Size0.12 Acres
Price / SF$264.78
Days on Market61
Property Features for 4037 22ND Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room, Basement, Family Room
Parking
6
Parking features
Carport, Driveway, Off Street
Interior features
Bathroom - Soaking Tub, Bathroom - Jetted Tub, Bathroom - Stall Shower, Bathroom - Tub Shower, Bathroom - Walk-In Shower, Breakfast Area, Combination Dining/Living, Combination Kitchen/Living, Dining Area, Efficiency, Entry Level Bedroom, Family Room Off Kitchen, Floor Plan - Open, Kitchen - Island, Primary Bath(s), Skylight(s), Walk-in Closet(s), Wood Floors
Appliances
Built-In Microwave, Dishwasher, Disposal, Exhaust Fan, Oven - Single, Oven/Range - Gas, Refrigerator, Stainless Steel Appliances, WaterHeater
Subdivision
BROOKLAND
High school
DUNBAR SENIOR
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
Size
3,399 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
6880
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
deck
patio
skylights
custom walk-in closet
spa-inspired bath
gated off-street parking
granite countertops
stainless steel appliances
Building Details
Year built
1927
Number of units
1
Building materials
Brick, Wood Siding
Architectural style
Colonial
Listing Agency:
Keller Williams Capital Properties · Keller Williams Realty
(202) 243-7700
Listed By:
Yvonne T Lee II · License #644794
(301) 613-6070
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 29 at 2:06AM
MLS# DCDC2270954
Copyright © 2026 Bright MLS. 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.
This Colonial duplex offers 3,399 square feet arranged across four finished levels, with wood floors, an open kitchen and living arrangement, and bedrooms positioned throughout the home. The main level includes a bedroom and full bath, while the upper levels provide additional bedrooms, updated bathrooms, skylights, a walk-in closet, and a private deck. The lower level has its own entrance, living area, bedroom, and full bath, creating a distinct area for guests, extended household use, or rental use.
Outdoor space is incorporated throughout the property, with a deck, patio, or private retreat on each level. The landscaped corner lot includes gated off-street parking for 4+ vehicles. Built in 1927, the property features brick and wood siding, central heating and cooling, stainless steel appliances, and a gas oven/range. It is located in Washington, DC, near Brookland Metro, a Metrobus stop, neighborhood restaurants, parks, shopping, and commuter routes.
Outdoor space is incorporated throughout the property, with a deck, patio, or private retreat on each level. The landscaped corner lot includes gated off-street parking for 4+ vehicles. Built in 1927, the property features brick and wood siding, central heating and cooling, stainless steel appliances, and a gas oven/range. It is located in Washington, DC, near Brookland Metro, a Metrobus stop, neighborhood restaurants, parks, shopping, and commuter routes.
Key Highlights
- 3,399 square feet across four finished levels
- Lower level includes a private entrance, living area, bedroom, and full bath
- Main‑level bedroom and full bath support flexible household use
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
$60,901
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
6.77%
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%
$1,218,020
$1.2M
Cap Rate 7%
$870,014
$870.0K
Cap Rate 9%
$676,678
$676.7K
Market Conditions
NOI Build-Up for 3,399 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
$91.8K $27.00/SF
− Vacancy
−$4.8K −$1.40/SF
EGI
$87.0K $25.60/SF
− OpEx
−$26.1K −$7.68/SF
NOI
$60.9K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,218,020
Cap Rate 7%
$870,014
Cap Rate 9%
$676,678
Alternative Uses
Best Use
Multifamily LT 5
$870.0K
$761.3K – $1.02M
NOI $60,901 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$806.8K
$706.0K – $941.3K
NOI $56,476 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,384 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 20018, DC
20,646
Population
9,753
Households
2.1
Avg Household Size
39
Median Age
46%
College-Educated
89%
High-School Grad
3.0 sq mi
ZIP Area
6,882
Density / Sq Mi
$92,569
Median Household Income
$71,947
Median Earnings
$1,245
Median Rent
$672,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible layout includes a main-level bedroom, separate lower-level entrance, and multiple full bathrooms.
Where is this duplex located?
The property is located at 4037 22ND Street NE Washington, DC.
What is the asking price?
The asking price for this property is $899,990.
What are key features of this property?
This property features: 3,399 square feet across four finished levels; Lower level includes a private entrance, living area, bedroom, and full bath; Main‑level bedroom and full bath support flexible household use
