Brick Duplex With Two
For Sale
$410,000
4229 DIX Street NE, Washington, DC 20019
MULTI_FAMILY - Other - WASHINGTON, DC
Property Size1,800 SF
Lot Size0.05 Acres
Price / SF$227.78
Days on Market47
Property Features for 4229 DIX Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Driveway
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
1,800 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
3539
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1950
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Compass
(301) 298-1001
Listed By:
Andrew N Nelson · License #SP98375360
(301) 580-8101
Added: Jul 15
Changed: Aug 19
Last Checked: Aug 30 at 6:06AM
MLS# DCDC2273582
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1950, this brick duplex at 4229 Dix Street NE contains two separately configured residences, each with two bedrooms and one bathroom. The property totals approximately 1,800 square feet on a 0.0524-acre lot and includes central heating, central air conditioning, and driveway parking. Both residences are fully occupied.
The property provides access to Benning Road, Route 295, and the Minnesota Avenue and Benning Road Metro stations. Its Washington, DC location supports travel to Downtown DC, Maryland, and Northern Virginia.
The property provides access to Benning Road, Route 295, and the Minnesota Avenue and Benning Road Metro stations. Its Washington, DC location supports travel to Downtown DC, Maryland, and Northern Virginia.
Key Highlights
- Two separately configured 2‑bedroom, 1‑bath residences
- Approximately 1,800 square feet on a 0.0524‑acre lot
- Fully occupied duplex at 4229 Dix Street NE
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
8.47%
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 8.47%
Second Best
Apartment 5plus
$443.5K
$388.1K – $517.4K
NOI $31,045 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$967.3K
$846.4K – $1.13M
NOI $67,710 @ 7.0% cap · market cap 16.51%
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied brick property with separately configured residences, central systems, and driveway parking.
Where is this duplex located?
The property is located at 4229 DIX Street NE Washington, DC.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two separately configured 2‑bedroom, 1‑bath residences; Approximately 1,800 square feet on a 0.0524‑acre lot; Fully occupied duplex at 4229 Dix Street NE
