Residential Income Property with
For Sale
$324,000
490 M STREET SW Unit W-101, Washington, DC 20024
The updated kitchen opens to a combined living and dining area, with building amenities and monitored entry.
Property Size840 SF
Days on Market186
Property Features for 490 M STREET SW Unit W-101
General Information
Standard status
Active
Size
840 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,500
Amenities
fitness center
community pool
landscaped grounds
grilling areas
24-hour security
Building Details
Building Size
840 SF
Year Built
1966
Year Renovated
2022
Listing Agency:
HER Properties, LLC
Listed By:
Lisa Harbour · License #BR40000311
(410) 245-3739
Source:
Kwcapitalproperties
Added: Apr 17
Changed: Oct 8
Last Checked: Oct 16 at 6:22PM
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 HER Properties, LLC
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Investment Insights
Based on property information with market context.
This one-bedroom, one-bathroom co-op at Tiber Island was renovated in 2022. Its galley kitchen has upgraded countertops and pantry storage, and connects to an open living and dining area. Hardwood and engineered flooring run throughout, while oversized, energy-efficient sliding windows bring in natural light. The bathroom has also been updated. The building dates to 1966.
Shared amenities include a fitness center, community pool, landscaped grounds, grilling areas and monitored entry with 24-hour security. The monthly fee covers heat, water, building maintenance and laundry. The property is near the Wharf, waterfront dining and the SW Duck Pond.
Shared amenities include a fitness center, community pool, landscaped grounds, grilling areas and monitored entry with 24-hour security. The monthly fee covers heat, water, building maintenance and laundry. The property is near the Wharf, waterfront dining and the SW Duck Pond.
Key Highlights
- One‑bedroom, one‑bathroom co‑op renovated in 2022
- Galley kitchen with upgraded countertops and built‑in pantry storage
- Oversized, energy‑efficient sliding windows; hardwood and engineered flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,957
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,140
$279.1K
Cap Rate 7%
$199,386
$199.4K
Cap Rate 9%
$155,078
$155.1K
Market Conditions
NOI Build-Up for 840 SF
Gross rent
$26.7K $31.80/SF
− Vacancy
−$1.3K −$1.59/SF
EGI
$25.4K $30.21/SF
− OpEx
−$11.4K −$13.59/SF
NOI
$14.0K $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 Rate 5%
$279,140
Cap Rate 7%
$199,386
Cap Rate 9%
$155,078
Alternative Uses
Best Use
Apartment 5plus
$199.4K
$174.5K – $232.6K
NOI $13,957 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$432.1K
$378.1K – $504.1K
NOI $30,245 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,013
Businesses Nearby
Explore this area
Business Placement
Demographics for 20024, DC
15,952
Population
11,560
Households
1.4
Avg Household Size
37
Median Age
70%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
7,251
Density / Sq Mi
$102,623
Median Household Income
$94,419
Median Earnings
$2,121
Median Rent
$497,100
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The updated kitchen opens to a combined living and dining area, with building amenities and monitored entry.
Where is this residential income property located?
The property is located at 490 M STREET SW Unit W-101 Washington, DC.
What is the asking price?
The asking price for this property is $324,000.
What are key features of this property?
This property features: One‑bedroom, one‑bathroom co‑op renovated in 2022; Galley kitchen with upgraded countertops and built‑in pantry storage; Oversized, energy‑efficient sliding windows; hardwood and engineered flooring
