Residential Income Property with Rooftop
For Sale
$443,900
410 RHODE ISLAND AVENUE NE Unit 608, Washington, DC 20002
The 2022 residence includes concierge service, an on-site fitness center, garage parking and secure storage.
Property Size949 SF
Price / SF$467.76
Days on Market183
Property Features for 410 RHODE ISLAND AVENUE NE Unit 608
General Information
Standard status
Active
Size
949 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Ft. Washington
Public Transit
Yes
Additional Details
Multifamily Units
1
Amenities
concierge
secure storage lockers
onsite fitness center
garage parking
private rooftop terrace
dog washing station
Building Details
Year Built
2022
Listing Agency:
Urban Pace Polaris, Inc.
Listed By:
Drew Scott McCauley
(202) 498-4110
Source:
Canopy-re
Added: May 1
Changed: Oct 29
Last Checked: Oct 26 at 1:37PM
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 Urban Pace Polaris, Inc.
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Investment Insights
Based on property information with market context.
This 949-square-foot condominium at Strada was built in 2022 and includes a private rooftop terrace. Building amenities include a front desk concierge available seven days a week, secure storage lockers, an on-site fitness center, garage parking and a dog-washing station.
The property is at 410 Rhode Island Avenue NE in Washington, DC. Residents have direct access to the Metropolitan Branch Trail and are near the Rhode Island Avenue Metro stop. Nearby destinations named in the listing include Bryant Street Market, Brookland, restaurants, markets and parks.
The property is at 410 Rhode Island Avenue NE in Washington, DC. Residents have direct access to the Metropolitan Branch Trail and are near the Rhode Island Avenue Metro stop. Nearby destinations named in the listing include Bryant Street Market, Brookland, restaurants, markets and parks.
Key Highlights
- Approximately 949 square feet in a building completed in 2022
- Private rooftop terrace
- Front desk concierge available seven days a week
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,156
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,120
$323.1K
Cap Rate 7%
$230,800
$230.8K
Cap Rate 9%
$179,511
$179.5K
Market Conditions
NOI Build-Up for 949 SF
Gross rent
$31.3K $33.00/SF
− Vacancy
−$1.9K −$2.05/SF
EGI
$29.4K $30.95/SF
− OpEx
−$13.2K −$13.93/SF
NOI
$16.2K $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 Rate 5%
$323,120
Cap Rate 7%
$230,800
Cap Rate 9%
$179,511
Alternative Uses
Best Use
Apartment 5plus
$230.8K
$202.0K – $269.3K
NOI $16,156 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$490.0K
$428.7K – $571.6K
NOI $34,298 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,658
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 - The 2022 residence includes concierge service, an on-site fitness center, garage parking and secure storage.
Where is this residential income property located?
The property is located at 410 RHODE ISLAND AVENUE NE Unit 608 Washington, DC.
What is the asking price?
The asking price for this property is $443,900.
What are key features of this property?
This property features: Approximately 949 square feet in a building completed in 2022; Private rooftop terrace; Front desk concierge available seven days a week
