Residential Co-op With
For Sale
$219,000
490 M STREET SW Unit 505, Washington, DC 20024
The one-bedroom plan includes distinct living and dining areas alongside private outdoor space.
Property Size800 SF
Price / SF$273.75
Days on Market16
Property Features for 490 M STREET SW Unit 505
General Information
Standard status
Active
Size
800 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Asking Price
$219,000
Taxes and HOA fees
Annual Taxes
$1,768
Amenities
24-hour front desk
on-site management
fitness center
community center
outdoor pool
grilling areas
Building Details
Building Size
800 SF
Year Built
1966
Listing Agency:
Samson Properties
Listed By:
Christopher M Chambers · License #SP98373958
(301) 775-4710
Source:
Kwcapitalproperties
Added: Sep 21
Changed: Oct 6
Last Checked: Oct 5 at 10:24PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This one-bedroom co-op at Tiber Island offers approximately 800 square feet indoors, with a private balcony of approximately 73 square feet. The interior has luxury vinyl flooring, fresh paint, updated countertops, and a recently installed dishwasher, sink, and range. A separate dining area complements the living room, and the bedroom includes ample closet space. The building dates to 1966.
Residents have access to a 24-hour front desk, on-site management, a fitness center, community center, outdoor pool, and grilling areas. Monthly cooperative charges cover real estate taxes, utilities, and community amenities. The property is near The Wharf, Nationals Park, Audi Field, Waterfront Park, and Arena Stage.
Residents have access to a 24-hour front desk, on-site management, a fitness center, community center, outdoor pool, and grilling areas. Monthly cooperative charges cover real estate taxes, utilities, and community amenities. The property is near The Wharf, Nationals Park, Audi Field, Waterfront Park, and Arena Stage.
Key Highlights
- Approximately 800 square feet of interior space and a private balcony of approximately 73 square feet
- One‑bedroom layout with separate living and dining areas
- Updates include luxury vinyl flooring, fresh paint, countertops, dishwasher, sink, and range
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,292
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,840
$265.8K
Cap Rate 7%
$189,886
$189.9K
Cap Rate 9%
$147,689
$147.7K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$25.4K $31.80/SF
− Vacancy
−$1.3K −$1.59/SF
EGI
$24.2K $30.21/SF
− OpEx
−$10.9K −$13.59/SF
NOI
$13.3K $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 Rate 5%
$265,840
Cap Rate 7%
$189,886
Cap Rate 9%
$147,689
Alternative Uses
Best Use
Apartment 5plus
$189.9K
$166.2K – $221.5K
NOI $13,292 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$411.5K
$360.1K – $480.1K
NOI $28,805 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - The one-bedroom plan includes distinct living and dining areas alongside private outdoor space.
Where is this residential income property located?
The property is located at 490 M STREET SW Unit 505 Washington, DC.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Approximately 800 square feet of interior space and a private balcony of approximately 73 square feet; One‑bedroom layout with separate living and dining areas; Updates include luxury vinyl flooring, fresh paint, countertops, dishwasher, sink, and range
