Two-Unit Separately Metered
For Sale
$1,600,000
412 20TH Street NE, Washington, DC 20002
Separate HVAC, hot water, and electric systems support independent unit operations.
Property Size3,400 SF
Price / SF$470.59
Days on Market8
Property Features for 412 20TH Street NE
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Units
Unit Mix
2 x 5BR/2BA
Multifamily Units
2
Additional Details
Asking Price
$1,600,000
Building Details
Year Built
1941
Tenancy
Multi
Listing Agency:
Long & Foster Real Estate,Inc.
Listed By:
Samuel R Davis · License #AB95309
(888) 536-0216
Source:
Deepcreeklake
Added: Sep 6
Changed: Sep 12
Last Checked: Sep 12 at 10:06AM
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.
This duplex contains two self-contained residential units, each configured with five bedrooms and two bathrooms. The units have individual HVAC equipment, dedicated hot water heaters, and separate electric metering, allowing each residence to operate independently. The property was built in 1941 and is currently fully leased to Housing Choice Voucher tenants.
Located at 412 20TH Street NE in Washington, DC, the building offers a two-unit configuration with distinct utility systems and residential layouts. The combination of separate mechanical equipment, dedicated hot water service, and individual electric meters provides clear operational separation between the units.
Located at 412 20TH Street NE in Washington, DC, the building offers a two-unit configuration with distinct utility systems and residential layouts. The combination of separate mechanical equipment, dedicated hot water service, and individual electric meters provides clear operational separation between the units.
Key Highlights
- Two residential units, each with 5 bedrooms and 2 bathrooms
- Separate electric meters for each unit
- Individual HVAC systems and dedicated hot water heaters
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
$64,774
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
4.05%
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%
$1,295,480
$1.3M
Cap Rate 7%
$925,343
$925.3K
Cap Rate 9%
$719,711
$719.7K
Market Conditions
NOI Build-Up for 3,400 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
$97.9K $28.80/SF
− Vacancy
−$5.4K −$1.58/SF
EGI
$92.5K $27.22/SF
− OpEx
−$27.8K −$8.16/SF
NOI
$64.8K $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%
$1,295,480
Cap Rate 7%
$925,343
Cap Rate 9%
$719,711
Alternative Uses
Best Use
Multifamily LT 5
$925.3K
$809.7K – $1.08M
NOI $64,774 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$826.9K
$723.6K – $964.7K
NOI $57,884 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $122,880 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate HVAC, hot water, and electric systems support independent unit operations.
Where is this duplex located?
The property is located at 412 20TH Street NE Washington, DC.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two residential units, each with 5 bedrooms and 2 bathrooms; Separate electric meters for each unit; Individual HVAC systems and dedicated hot water heaters
