Converted Schoolhouse Residential Income
For Sale
$599,900
440 12TH STREET NE Unit 9, Washington, DC 20002
Two-bedroom condominium residence with distinctive architectural finishes, flexible loft storage, and dedicated parking.
Property Size1,180 SF
Days on Market57
Property Features for 440 12TH STREET NE Unit 9
General Information
Standard status
Active
Size
1,180 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Ft. Washington
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,304
Building Details
Building Size
1,180 SF
Year Built
1900
Listing Agency:
Paul Wesley Real Estate
Listed By:
John A Evans
(703) 855-8707
Source:
Kwcapitalproperties
Added: Sep 4
Changed: Oct 27
Last Checked: Oct 28 at 5:53PM
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 Paul Wesley Real Estate
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Investment Insights
Based on property information with market context.
This two-bedroom, two-full-bath condominium occupies a converted schoolhouse dating to 1900. Exposed original brick, tall ceilings with visible ductwork, and polished concrete floors create a distinctive interior, while the open living area connects to a kitchen with granite countertops, gas cooking, an island with breakfast bar, and substantial cabinetry. Flexible loft areas, a mechanical and laundry room, and an organized primary closet provide additional storage.
The property includes a dedicated parking space positioned directly in front of the unit. It is located near the H Street corridor and Lincoln Park, with Eastern Market, Union Station, the US Capitol, and the RFK development within a mile or less. An adjacent playground, dog park, and community gardens add nearby outdoor amenities.
The property includes a dedicated parking space positioned directly in front of the unit. It is located near the H Street corridor and Lincoln Park, with Eastern Market, Union Station, the US Capitol, and the RFK development within a mile or less. An adjacent playground, dog park, and community gardens add nearby outdoor amenities.
Key Highlights
- Two‑bedroom, two‑full‑bath condominium in a schoolhouse conversion dating to 1900
- Exposed original brick, soaring ceilings with exposed ductwork, and polished concrete floors
- Kitchen includes granite counters, gas cooking, island breakfast bar, and extensive cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,089
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,780
$401.8K
Cap Rate 7%
$286,986
$287.0K
Cap Rate 9%
$223,211
$223.2K
Market Conditions
NOI Build-Up for 1,180 SF
Gross rent
$38.9K $33.00/SF
− Vacancy
−$2.4K −$2.05/SF
EGI
$36.5K $30.95/SF
− OpEx
−$16.4K −$13.93/SF
NOI
$20.1K $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%
$401,780
Cap Rate 7%
$286,986
Cap Rate 9%
$223,211
Alternative Uses
Best Use
Apartment 5plus
$287.0K
$251.1K – $334.8K
NOI $20,089 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$609.2K
$533.1K – $710.8K
NOI $42,647 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,871
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium residence with distinctive architectural finishes, flexible loft storage, and dedicated parking.
Where is this residential income property located?
The property is located at 440 12TH STREET NE Unit 9 Washington, DC.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑bedroom, two‑full‑bath condominium in a schoolhouse conversion dating to 1900; Exposed original brick, soaring ceilings with exposed ductwork, and polished concrete floors; Kitchen includes granite counters, gas cooking, island breakfast bar, and extensive cabinetry
