Remodeled Residential Income
For Sale
$804,999
410 K STREET NE Unit 1, Washington, DC 20002
Two-level residence with an upgraded kitchen, balcony access, custom storage, and contemporary bathroom finishes.
Property Size1,560 SF
Days on Market11
Property Features for 410 K STREET NE Unit 1
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$6,380
Building Details
Building Size
1,560 SF
Year Built
1880
Listing Agency:
Keller Williams Capital Properties
Listed By:
Joseph Ewing Martin Jr. · License #SP40003656
(561) 716-5970
Source:
Kwcapitalproperties
Added: Sep 4
Changed: Sep 12
Last Checked: Sep 14 at 10:33AM
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 1 is a two-level residential income property originally built in 1880 and substantially remodeled with upgraded finishes throughout. The main level includes a light-filled living room, dining area, and redesigned kitchen featuring quartz countertops, a herringbone backsplash, custom island, ample cabinetry, pendant lighting, and high-end stainless steel GE Cafe appliances. A built-in wine fridge and integrated Keurig coffee maker add to the kitchen setup.
The bedrooms include sliding barn-style closet doors and built-in storage. Additional improvements include a programmable Nest Thermostat, frameless glass shower enclosures, and decorative tile work. The dining room provides city views and access to a balcony. The property is positioned between NoMa and the H Street Corridor in Washington, DC.
The bedrooms include sliding barn-style closet doors and built-in storage. Additional improvements include a programmable Nest Thermostat, frameless glass shower enclosures, and decorative tile work. The dining room provides city views and access to a balcony. The property is positioned between NoMa and the H Street Corridor in Washington, DC.
Key Highlights
- Two‑level Unit 1 with a comprehensive remodel
- Quartz kitchen counters, herringbone backsplash, and custom island
- High‑end stainless steel GE Cafe appliances
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
$26,559
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
3.30%
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%
$531,180
$531.2K
Cap Rate 7%
$379,414
$379.4K
Cap Rate 9%
$295,100
$295.1K
Market Conditions
NOI Build-Up for 1,560 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
$51.5K $33.00/SF
− Vacancy
−$3.2K −$2.05/SF
EGI
$48.3K $30.95/SF
− OpEx
−$21.7K −$13.93/SF
NOI
$26.6K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /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%
$531,180
Cap Rate 7%
$379,414
Cap Rate 9%
$295,100
Alternative Uses
Best Use
Apartment 5plus
$379.4K
$332.0K – $442.7K
NOI $26,559 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$805.4K
$704.8K – $939.7K
NOI $56,380 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,958
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level residence with an upgraded kitchen, balcony access, custom storage, and contemporary bathroom finishes.
Where is this residential income property located?
The property is located at 410 K STREET NE Unit 1 Washington, DC.
What is the asking price?
The asking price for this property is $804,999.
What are key features of this property?
This property features: Two‑level Unit 1 with a comprehensive remodel; Quartz kitchen counters, herringbone backsplash, and custom island; High‑end stainless steel GE Cafe appliances
