Two-Bedroom Residential Income
New
For Sale
$675,000
4701 CONNECTICUT AVENUE NW Unit 108, Washington, DC 20008
Restored residence with hardwood floors, renovated kitchen and baths, garage parking, and access to building amenities.
Property Size1,223 SF
Price / SF$551.92
Days on Market7
Property Features for 4701 CONNECTICUT AVENUE NW Unit 108
General Information
Standard status
Active
Size
1,223 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,492
Building Details
Building Size
1,223 SF
Year Built
1977
Listing Agency:
Compass
Listed By:
LISA B RESCH
(202) 236-9527
Source:
Kerishull
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 24 at 6:19PM
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.
Unit 108 is a two-bedroom, two-bath residence with prewar proportions, original hardwood flooring, high ceilings, and multiple exposures. The layout includes a foyer, living room, formal dining room, three-sided solarium, renovated kitchen with granite counters, stainless steel appliances and custom cabinetry, plus an adjoining breakfast room. The primary suite has a renovated private bath, while the second bedroom is served by another updated full bath accessible from the bedroom and hallway.
Building amenities include laundry facilities on every floor, recycling and trash chutes, resident storage, lower-level bike storage, and an EV charging station. The condo fee includes heat and storage, and the property has a dedicated garage parking space and circular driveway for drop-offs.
The building is on Connecticut Avenue near multiple bus routes and four blocks from Van Ness Metro's Red Line. Forest Hills, Chevy Chase, Tenleytown and Friendship Heights are nearby, with access to groceries, dining, medical offices and shopping. The residence is in bounds for Murch Elementary, Deal Middle School and Jackson-Reed High School.
Building amenities include laundry facilities on every floor, recycling and trash chutes, resident storage, lower-level bike storage, and an EV charging station. The condo fee includes heat and storage, and the property has a dedicated garage parking space and circular driveway for drop-offs.
The building is on Connecticut Avenue near multiple bus routes and four blocks from Van Ness Metro's Red Line. Forest Hills, Chevy Chase, Tenleytown and Friendship Heights are nearby, with access to groceries, dining, medical offices and shopping. The residence is in bounds for Murch Elementary, Deal Middle School and Jackson-Reed High School.
Key Highlights
- Two‑bedroom, two‑bath residence with original hardwood floors and high ceilings
- Renovated kitchen with granite countertops, stainless steel appliances and custom cabinetry
- Renovated primary and secondary full baths
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
$20,321
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
3.01%
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%
$406,420
$406.4K
Cap Rate 7%
$290,300
$290.3K
Cap Rate 9%
$225,789
$225.8K
Market Conditions
NOI Build-Up for 1,223 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
$38.9K $31.80/SF
− Vacancy
−$1.9K −$1.59/SF
EGI
$36.9K $30.21/SF
− OpEx
−$16.6K −$13.59/SF
NOI
$20.3K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$406,420
Cap Rate 7%
$290,300
Cap Rate 9%
$225,789
Alternative Uses
Best Use
Apartment 5plus
$290.3K
$254.0K – $338.7K
NOI $20,321 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$629.1K
$550.4K – $733.9K
NOI $44,035 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,350
Businesses Nearby
Explore this area
Business Placement
Demographics for 20008, DC
30,143
Population
18,083
Households
1.7
Avg Household Size
38
Median Age
89%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
9,724
Density / Sq Mi
$123,653
Median Household Income
$87,607
Median Earnings
$2,202
Median Rent
$894,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Restored residence with hardwood floors, renovated kitchen and baths, garage parking, and access to building amenities.
Where is this residential income property located?
The property is located at 4701 CONNECTICUT AVENUE NW Unit 108 Washington, DC.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence with original hardwood floors and high ceilings; Renovated kitchen with granite countertops, stainless steel appliances and custom cabinetry; Renovated primary and secondary full baths
