Two-Unit Duplex with Outdoor
For Sale
$1,299,000
502 G STREET NE, Washington, DC 20002
Two residences offer two-bedroom, two-bath layouts plus distinct exterior living areas.
Property Size2,338 SF
Days on Market94
Property Features for 502 G STREET NE
General Information
Standard status
Active
Size
2,338 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,300
Amenities
screened-in rear porch
patio
private terrace
Building Details
Building Size
2,338 SF
Year Built
1910
Buildings
1
Listing Agency:
Compass
(202) 379-9619
Listed By:
Mary A Sartorius · License #SP98370252
(202) 379-9619
Source:
Kwcapitalproperties
Added: May 28
Changed: Aug 28
Last Checked: Aug 28 at 8:44PM
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
Investment Insights
Based on property information with market context.
This converted duplex contains 2,338 square feet and two separate residences, each arranged with two bedrooms and two full baths. The main-level home features refinished hardwood flooring, large south-facing windows, a finished kitchen with designer details and exposed-brick accents, plus a screened rear porch and patio. The upper apartment includes its own private terrace and a matching two-bedroom, two-bath configuration.
Built in 1910, the property is located at 502 G Street NE in Washington, DC 20002. Union Station and Union Market are within blocks, while H Street is also nearby, placing the building close to established dining, retail, and transportation destinations.
Built in 1910, the property is located at 502 G Street NE in Washington, DC 20002. Union Station and Union Market are within blocks, while H Street is also nearby, placing the building close to established dining, retail, and transportation destinations.
Key Highlights
- Two‑unit duplex with 2,338 square feet of total property size
- Two bedrooms and two full baths in each residence
- Main‑level unit includes refinished hardwood floors and south‑facing windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,542
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$890,840
$890.8K
Cap Rate 7%
$636,314
$636.3K
Cap Rate 9%
$494,911
$494.9K
Market Conditions
NOI Build-Up for 2,338 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.3K $28.80/SF
− Vacancy
−$3.7K −$1.58/SF
EGI
$63.6K $27.22/SF
− OpEx
−$19.1K −$8.16/SF
NOI
$44.5K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$890,840
Cap Rate 7%
$636,314
Cap Rate 9%
$494,911
Alternative Uses
Best Use
Multifamily LT 5
$636.3K
$556.8K – $742.4K
NOI $44,542 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$568.6K
$497.6K – $663.4K
NOI $39,804 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,498 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,158
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer two-bedroom, two-bath layouts plus distinct exterior living areas.
Where is this duplex located?
The property is located at 502 G STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,338 square feet of total property size; Two bedrooms and two full baths in each residence; Main‑level unit includes refinished hardwood floors and south‑facing windows
