Two-Unit Victorian
For Sale
$1,299,000
502 G Street NE, Washington, DC 20002
MULTI_FAMILY - Victorian - WASHINGTON, DC
Property Size2,338 SF
Lot Size0.04 Acres
Price / SF$555.60
Days on Market78
Property Features for 502 G Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Dining Room, Basement
Parking features
On Street
Interior features
Combination Dining/Living, Dining Area, Entry Level Bedroom, Floor Plan - Traditional, Primary Bath(s), Walk-in Closet(s), Wood Floors
Appliances
Built-In Microwave, Dishwasher, Disposal, Oven/Range - Gas, Range Hood, Refrigerator, Stainless Steel Appliances, Washer, Washer/Dryer Stacked, Dryer
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
2,338 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
10300
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1910
Number of units
2
Building materials
Brick
Architectural style
Victorian
Listing Agency:
Compass
(202) 448-9002
Listed By:
Mary A Sartorius · License #SP98370252
(202) 379-9619
Added: May 28
Changed: Jul 9
Last Checked: Aug 13 at 5:06AM
MLS# DCDC2264894
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This converted Victorian duplex offers two separate residences within a single building. The main-level home features two bedrooms and two full baths, with refinished hardwood floors and a sun-drenched living space supported by large south-facing windows. The owner’s kitchen includes designer finishes, a tile backsplash, and a full wall of exposed brick. Off the main level, there is a screened-in rear porch and a patio for outdoor use.
Upstairs, the second residence is laid out as a two-bedroom, two-bath apartment and includes its own private terrace. The property is listed as a two-unit building and sits on a small lot measuring 0.0402 acres.
For buyers looking for an owner-occupied setup with an additional rental unit, this configuration provides two complete living spaces with similar room counts across both levels. The outdoor areas on both the main level and the upper unit add practical, day-to-day value for quiet mornings or entertaining. The building is described as being just blocks from Union Station and near Union Market, with H Street close by.
Upstairs, the second residence is laid out as a two-bedroom, two-bath apartment and includes its own private terrace. The property is listed as a two-unit building and sits on a small lot measuring 0.0402 acres.
For buyers looking for an owner-occupied setup with an additional rental unit, this configuration provides two complete living spaces with similar room counts across both levels. The outdoor areas on both the main level and the upper unit add practical, day-to-day value for quiet mornings or entertaining. The building is described as being just blocks from Union Station and near Union Market, with H Street close by.
Key Highlights
- Converted two‑unit building built in 1910 with brick Victorian construction
- Main‑level residence offers 2 bedrooms and 2 full baths plus refinished hardwood/wood floors
- Main level features a gas oven/range and stainless steel appliances, including dishwasher, disposal, and refrigerator
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,958
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 - Converted two-unit duplex with two-bedroom, two-bath layouts and outdoor living space.
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: Converted two‑unit building built in 1910 with brick Victorian construction; Main‑level residence offers 2 bedrooms and 2 full baths plus refinished hardwood/wood floors; Main level features a gas oven/range and stainless steel appliances, including dishwasher, disposal, and refrigerator
