Modern Residential Income Property with Roof
For Sale
$799,900
Pending
502 EDGEWOOD STREET NE Unit 2, Washington, DC 20017
2024 residence with three bedrooms, flexible living areas, and substantial private outdoor space.
Property Size1,987 SF
Days on Market73
Property Features for 502 EDGEWOOD STREET NE Unit 2
General Information
Standard status
Pending
Size
1,987 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Additional Details
Asking Price
$859,000
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,491
Amenities
private roof deck
Building Details
Building Size
1,987 SF
Year Built
2024
Listing Agency:
Compass
Listed By:
Jessica G Evans · License #SP696163
(301) 832-5105
Source:
Barnesrealestatecompany
Added: Aug 7
Changed: Oct 11
Last Checked: Oct 16 at 3:12PM
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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Investment Insights
Based on property information with market context.
Completed in 2024, this residential income property offers approximately 1,800 square feet arranged across an open main level and a private bedroom floor. The home includes three bedrooms, two full bathrooms, and one half bathroom, with a primary suite, contemporary finishes, pale wood flooring, and windows on three sides. Its kitchen features a waterfall-edge quartz island, stainless steel appliances, modern cabinetry, and a full-size pantry.
A private roof deck of approximately 800 square feet is reached by an interior staircase through a dedicated vestibule, creating a substantial extension of the living area. The outdoor space accommodates separate areas for dining, seating, grilling, and gardening. Off-street parking is available separately. Bryant Street, the Metropolitan Branch Trail, Rhode Island Ave Metro, and destinations including Brookland, Eckington, Bloomingdale, and Union Market are located nearby.
A private roof deck of approximately 800 square feet is reached by an interior staircase through a dedicated vestibule, creating a substantial extension of the living area. The outdoor space accommodates separate areas for dining, seating, grilling, and gardening. Off-street parking is available separately. Bryant Street, the Metropolitan Branch Trail, Rhode Island Ave Metro, and destinations including Brookland, Eckington, Bloomingdale, and Union Market are located nearby.
Key Highlights
- Approximately 1,800 SF with 3 bedrooms and 2.5 baths
- Approximately 800‑square‑foot private roof deck
- Built in 2024 with windows on three sides
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,908
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,160
$598.2K
Cap Rate 7%
$427,257
$427.3K
Cap Rate 9%
$332,311
$332.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$57.2K $31.80/SF
− Vacancy
−$2.9K −$1.59/SF
EGI
$54.4K $30.21/SF
− OpEx
−$24.5K −$13.59/SF
NOI
$29.9K $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%
$598,160
Cap Rate 7%
$427,257
Cap Rate 9%
$332,311
Alternative Uses
Best Use
Apartment 5plus
$427.3K
$373.9K – $498.5K
NOI $29,908 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$925.9K
$810.1K – $1.08M
NOI $64,810 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 20017, DC
20,293
Population
9,252
Households
2.2
Avg Household Size
37
Median Age
59%
College-Educated
92%
High-School Grad
2.2 sq mi
ZIP Area
9,224
Density / Sq Mi
$101,543
Median Household Income
$74,399
Median Earnings
$1,793
Median Rent
$686,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - 2024 residence with three bedrooms, flexible living areas, and substantial private outdoor space.
Where is this residential income property located?
The property is located at 502 EDGEWOOD STREET NE Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Approximately 1,800 SF with 3 bedrooms and 2.5 baths; Approximately 800‑square‑foot private roof deck; Built in 2024 with windows on three sides
