Separately Metered
For Sale
$1,299,900
412 20th St NE, Washington, DC 20002
Two-unit residential income property with independent HVAC, hot water, and electric service for each residence.
Property Size2,500 SF
Price / SF$519.96
Days on Market38
Property Features for 412 20th St NE
General Information
Standard status
Active
Size
2,500 SF
Occupancy
100%
Units
Unit Mix
2 x 5BR/2BA
Multifamily Units
2
Building Details
Year Built
1941
Buildings
1
Listing Agency:
Long & Foster Real Estate, Inc.
(888) 536-0216
Listed By:
Samuel R Davis · License #AB95309
Source:
Tbhteam
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 25 at 5:33AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
Built in 1941, this duplex contains 3,400 square feet arranged as two self-contained residences. Each unit offers five bedrooms and two bathrooms, along with its own HVAC system, dedicated hot water heater, and separate electric meter. The independent utility setup supports distinct operation of each residence.
Both units are currently leased to Housing Choice Voucher tenants, with reported occupancy at 100%. The property is located at 412 20th St NE in Washington, DC 20002.
Both units are currently leased to Housing Choice Voucher tenants, with reported occupancy at 100%. The property is located at 412 20th St NE in Washington, DC 20002.
Key Highlights
- Two‑unit duplex totaling 3,400 square feet
- Each unit includes 5 bedrooms and 2 bathrooms
- Separate electric meters for both units
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
$47,628
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
3.66%
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%
$952,560
$952.6K
Cap Rate 7%
$680,400
$680.4K
Cap Rate 9%
$529,200
$529.2K
Market Conditions
NOI Build-Up for 2,500 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
$72.0K $28.80/SF
− Vacancy
−$4.0K −$1.58/SF
EGI
$68.0K $27.22/SF
− OpEx
−$20.4K −$8.16/SF
NOI
$47.6K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /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%
$952,560
Cap Rate 7%
$680,400
Cap Rate 9%
$529,200
Alternative Uses
Best Use
Multifamily LT 5
$680.4K
$595.4K – $793.8K
NOI $47,628 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$608.0K
$532.0K – $709.4K
NOI $42,562 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,353 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,189
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
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 - Two-unit residential income property with independent HVAC, hot water, and electric service for each residence.
Where is this duplex located?
The property is located at 412 20th St NE Washington, DC.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,400 square feet; Each unit includes 5 bedrooms and 2 bathrooms; Separate electric meters for both units
