Co-op Apartment with
For Sale
$189,900
490 M STREET SW Unit W308, Washington, DC 20024
A south-facing private balcony overlooks the Great Lawn and Southwest Waterfront Park.
Property Size554 SF
Price / SF$342.78
Days on Market11
Property Features for 490 M STREET SW Unit W308
General Information
Standard status
Active
Size
554 SF
Property subtype
Unit/Flat/Apartment
Additional Details
HOA Fee
$1,072
Public Transit
Yes
Multifamily Units
1
Building Details
Building Size
554 SF
Year Built
1966
Listing Agency:
Compass
Listed By:
Steven Dean · License #SP102455
(202) 525-6499
Source:
Kwcapitalproperties
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 16 at 2:25PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This junior one-bedroom co-op apartment measures approximately 554 SF, per co-op records. Its bedroom is fully enclosed and includes a closet and a large window. The kitchen has granite countertops and gas cooking, while southern exposure brings natural light into the unit. A private balcony faces the Great Lawn and Southwest Waterfront Park.
The property is near the Waterfront Metro, Safeway, Arena Stage, and The Wharf. The National Mall, Capitol Hill, and Georgetown are also described as minutes away.
The property is near the Waterfront Metro, Safeway, Arena Stage, and The Wharf. The National Mall, Capitol Hill, and Georgetown are also described as minutes away.
Key Highlights
- Approximately 554 SF, per co‑op records
- Enclosed bedroom with closet and large window
- Kitchen with granite countertops and gas cooking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,205
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,100
$184.1K
Cap Rate 7%
$131,500
$131.5K
Cap Rate 9%
$102,278
$102.3K
Market Conditions
NOI Build-Up for 554 SF
Gross rent
$17.6K $31.80/SF
− Vacancy
−$881 −$1.59/SF
EGI
$16.7K $30.21/SF
− OpEx
−$7.5K −$13.59/SF
NOI
$9.2K $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%
$184,100
Cap Rate 7%
$131,500
Cap Rate 9%
$102,278
Alternative Uses
Best Use
Apartment 5plus
$131.5K
$115.1K – $153.4K
NOI $9,205 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$285.0K
$249.3K – $332.5K
NOI $19,947 @ 7.0% cap · market cap 10.50%
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 - A south-facing private balcony overlooks the Great Lawn and Southwest Waterfront Park.
Where is this residential income property located?
The property is located at 490 M STREET SW Unit W308 Washington, DC.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Approximately 554 SF, per co‑op records; Enclosed bedroom with closet and large window; Kitchen with granite countertops and gas cooking
