Fully Occupied
For Sale
$450,000
4229 Dix St Ne, Washington, DC 20019
Two separately configured residences provide a straightforward income-producing residential property.
Property Size1,800 SF
Price / SF$250
Days on Market47
Property Features for 4229 Dix St Ne
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,539
Building Details
Buildings
1
Listing Agency:
Compass
(301) 580-8101
Listed By:
Andrew N Nelson · License #SP98375360
(301) 580-8101
Source:
Exprealty
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 29 at 2:50PM
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 Compass
Investment Insights
Based on property information with market context.
This duplex includes two independently configured residences, each with 2 bedrooms and 1 bathroom, for approximately 1,800 square feet combined. Both units are occupied, providing an in-place rental operation within a single residential asset.
The property is located near Benning Road and Route 295, with access to the Minnesota Avenue and Benning Road Metro stations. The transit connections provide reach to Downtown DC, Maryland, and Northern Virginia. The address is 4229 Dix Street NE in Washington, DC.
The property is located near Benning Road and Route 295, with access to the Minnesota Avenue and Benning Road Metro stations. The transit connections provide reach to Downtown DC, Maryland, and Northern Virginia. The address is 4229 Dix Street NE in Washington, DC.
Key Highlights
- Two separately configured 2‑bedroom, 1‑bath residences
- Approximately 1,800 square feet total
- Fully occupied duplex
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
$34,747
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
7.72%
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%
$694,940
$694.9K
Cap Rate 7%
$496,386
$496.4K
Cap Rate 9%
$386,078
$386.1K
Market Conditions
NOI Build-Up for 1,800 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
$52.9K $29.40/SF
− Vacancy
−$3.3K −$1.82/SF
EGI
$49.6K $27.58/SF
− OpEx
−$14.9K −$8.27/SF
NOI
$34.7K $19.30/SF
Area
ZIP 20019
Vacancy
6.20%
Lease Rate
$29.40 /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%
$694,940
Cap Rate 7%
$496,386
Cap Rate 9%
$386,078
Alternative Uses
Best Use
Multifamily LT 5
$496.4K
$434.3K – $579.1K
NOI $34,747 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$443.5K
$388.1K – $517.4K
NOI $31,045 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$967.3K
$846.4K – $1.13M
NOI $67,710 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
Explore this area
Business Placement
Demographics for 20019, DC
59,601
Population
29,244
Households
2
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
6.1 sq mi
ZIP Area
9,771
Density / Sq Mi
$57,031
Median Household Income
$49,707
Median Earnings
$1,174
Median Rent
$437,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences provide a straightforward income-producing residential property.
Where is this duplex located?
The property is located at 4229 Dix St Ne Washington, DC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two separately configured 2‑bedroom, 1‑bath residences; Approximately 1,800 square feet total; Fully occupied duplex
