Tenant-Occupied Residential Income
For Sale
$299,900
410 RHODE ISLAND AVENUE NE Unit 209, Washington, DC 20002
Lease conveys with the sale, with the condominium currently occupied by a tenant.
Property Size684 SF
Price / SF$438.45
Days on Market28
Property Features for 410 RHODE ISLAND AVENUE NE Unit 209
General Information
Standard status
Active
Size
684 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
concierge
fitness center
private rooftop terrace
dog washing station
secure storage lockers
access to Metropolitan Branch Trail
Building Details
Building Size
684 SF
Year Built
2022
Tenancy
Single
Listing Agency:
Urban Pace Polaris, Inc.
Listed By:
Laura E Henne · License #SP200202399
(202) 669-8909
Source:
Kwcapitalproperties
Added: Sep 9
Changed: Oct 3
Last Checked: Oct 5 at 10:59PM
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 Urban Pace Polaris, Inc.
Investment Insights
Based on property information with market context.
This tenant-occupied condominium at Strada offers approximately 684 square feet of residential space, including a large bedroom, walk-in closet, and a contemporary kitchen with extensive cabinetry. Built in 2022, the unit is subject to an existing lease that will convey with the sale. Showings require an appointment and advance notice to the tenant.
Residents have access to a seven-day front desk concierge, secure storage lockers, an onsite fitness center, private rooftop terrace, and dog washing station. The building also connects directly to the Metropolitan Branch Trail and is within walking distance of the Rhode Island Ave Metro stop, restaurants, markets, and parks along the Rhode Island Avenue corridor in Washington, DC.
Residents have access to a seven-day front desk concierge, secure storage lockers, an onsite fitness center, private rooftop terrace, and dog washing station. The building also connects directly to the Metropolitan Branch Trail and is within walking distance of the Rhode Island Ave Metro stop, restaurants, markets, and parks along the Rhode Island Avenue corridor in Washington, DC.
Key Highlights
- Approximately 684 square feet in a 2022‑built condominium
- Existing tenant occupancy with lease conveying at closing
- Large bedroom and spacious walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,645
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$232,900
$232.9K
Cap Rate 7%
$166,357
$166.4K
Cap Rate 9%
$129,389
$129.4K
Market Conditions
NOI Build-Up for 684 SF
Gross rent
$22.6K $33.00/SF
− Vacancy
−$1.4K −$2.05/SF
EGI
$21.2K $30.95/SF
− OpEx
−$9.5K −$13.93/SF
NOI
$11.6K $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 Rate 5%
$232,900
Cap Rate 7%
$166,357
Cap Rate 9%
$129,389
Alternative Uses
Best Use
Apartment 5plus
$166.4K
$145.6K – $194.1K
NOI $11,645 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$353.2K
$309.0K – $412.0K
NOI $24,721 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Lease conveys with the sale, with the condominium currently occupied by a tenant.
Where is this residential income property located?
The property is located at 410 RHODE ISLAND AVENUE NE Unit 209 Washington, DC.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Approximately 684 square feet in a 2022‑built condominium; Existing tenant occupancy with lease conveying at closing; Large bedroom and spacious walk‑in closet
