Renovated One-Bedroom Income
For Sale
$430,000
490 M STREET SW Unit W-806, Washington, DC 20024
Top-floor co-op residence with balcony views, upgraded interiors, dedicated workspace, and extensive built-in storage.
Property Size850 SF
Price / SF$505.88
Days on Market67
Property Features for 490 M STREET SW Unit W-806
General Information
Standard status
Active
Size
850 SF
Property subtype
Unit/Flat/Apartment
Additional Details
HOA Fee
$595
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$150
Amenities
outdoor pool
gym
24-hour desk
balcony
in-unit washer/dryer
recessed LED lighting
cat-6 wiring
Building Details
Building Size
850 SF
Year Built
1966
Listing Agency:
Welcome Home Realty, LLC
Listed By:
Steven L. Gross
(202) 210-1984
Source:
Kwcapitalproperties
Added: Aug 1
Changed: Oct 3
Last Checked: Oct 5 at 10:14PM
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 Welcome Home Realty, LLC
Investment Insights
Based on property information with market context.
This top-floor, one-bedroom co-op residence offers 850 square feet with a renovated interior and an open living and dining arrangement. Improvements include new flooring, a redesigned kitchen with 39-inch cabinets and a built-in pantry, and a fully updated bathroom with dual showerheads, body sprays, a teak folding bench, thick sliding glass doors, and an integrated ventilation, lighting, and Bluetooth speaker system. The unit also features a built-in desk, approximately 128 cubic feet of closet space, energy-efficient recessed LED lighting, and a combination washer and dryer. CAT-6 wiring supports connectivity in the living room, bedroom, and desk area. The bedroom measures approximately 12 feet by 16 feet, and the balcony overlooks the Jefferson Memorial, Washington Monument, and Wharf.
Building amenities include an outdoor pool, a 24-hour gym, and a 24-hour front desk in the main building. The property is across from Waterfront Metro and near the Wharf, Safeway, CVS, Arena Stage, Nationals Park, Audi Field, the National Mall, Navy Yard, Hains Point, and area bike and jogging paths. Constructed in 1966, the building has more than $4 million in reserves and has never had an assessment.
Building amenities include an outdoor pool, a 24-hour gym, and a 24-hour front desk in the main building. The property is across from Waterfront Metro and near the Wharf, Safeway, CVS, Arena Stage, Nationals Park, Audi Field, the National Mall, Navy Yard, Hains Point, and area bike and jogging paths. Constructed in 1966, the building has more than $4 million in reserves and has never had an assessment.
Key Highlights
- 850‑square‑foot top‑floor one‑bedroom co‑op residence
- Renovated kitchen and bathroom with 39‑inch cabinets and built‑in pantry
- Balcony views of the Jefferson Memorial, Washington Monument, and Wharf
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,123
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,460
$282.5K
Cap Rate 7%
$201,757
$201.8K
Cap Rate 9%
$156,922
$156.9K
Market Conditions
NOI Build-Up for 850 SF
Gross rent
$27.0K $31.80/SF
− Vacancy
−$1.4K −$1.59/SF
EGI
$25.7K $30.21/SF
− OpEx
−$11.6K −$13.59/SF
NOI
$14.1K $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%
$282,460
Cap Rate 7%
$201,757
Cap Rate 9%
$156,922
Alternative Uses
Best Use
Apartment 5plus
$201.8K
$176.5K – $235.4K
NOI $14,123 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$437.2K
$382.6K – $510.1K
NOI $30,605 @ 7.0% cap · market cap 7.12%
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 - Top-floor co-op residence with balcony views, upgraded interiors, dedicated workspace, and extensive built-in storage.
Where is this residential income property located?
The property is located at 490 M STREET SW Unit W-806 Washington, DC.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 850‑square‑foot top‑floor one‑bedroom co‑op residence; Renovated kitchen and bathroom with 39‑inch cabinets and built‑in pantry; Balcony views of the Jefferson Memorial, Washington Monument, and Wharf
