Solar-Powered Residential Income
For Sale
$874,997
507 M STREET NE Unit 2, Washington, DC 20002
Two-level residence with dual primary suites, private deck, and secure off-street parking.
Property Size1,911 SF
Days on Market128
Property Features for 507 M STREET NE Unit 2
General Information
Standard status
Active
Size
1,911 SF
Property subtype
Interior Row/Townhouse
Site & Location
Neighborhood
Ft. Washington
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,715
Amenities
roof access
electric vehicle charging
security camera system
smart thermostat
Building Details
Building Size
1,911 SF
Year Built
2008
Listing Agency:
Keller Williams Capital Properties
Listed By:
Gary Michael Raze · License #SP40003716
(301) 288-1152
Source:
Kwcapitalproperties
Added: Jun 26
Changed: Oct 25
Last Checked: Oct 30 at 8:51PM
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 Keller Williams Capital Properties
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Investment Insights
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This two-level residential income property combines an open main floor with two oversized bedroom suites upstairs. The main level includes living and dining areas, a powder room, a private rear deck, dedicated workspace, and a chef’s kitchen equipped with a Sub-Zero refrigerator, Wolf range, industrial-grade hood, granite counters, prep island, and custom cabinetry. Cherry hardwood flooring, skylights, exposed brick, recessed lighting, and extensive built-ins add both character and functionality.
The home includes secure off-street parking, roof access, a security camera system, video doorbell, tankless water heater, smart thermostat controls, and integrated audio wiring. A 7.2 kW south-facing solar array is designed to offset nearly all annual electrical consumption, while a Tesla Wall Connector provides Level 2 EV charging capability. The primary suite features a soaking Jacuzzi tub, dual vanity, walk-in shower, and walk-in closet; the junior suite has a private bath with a dual-head shower.
The property is positioned between NoMa Metro Station and Gallaudet University, with Union Market, Trader Joe’s, Union Station, Capitol Hill, neighborhood parks, restaurants, and the H Street Corridor within the surrounding area. Built in 2008.
The home includes secure off-street parking, roof access, a security camera system, video doorbell, tankless water heater, smart thermostat controls, and integrated audio wiring. A 7.2 kW south-facing solar array is designed to offset nearly all annual electrical consumption, while a Tesla Wall Connector provides Level 2 EV charging capability. The primary suite features a soaking Jacuzzi tub, dual vanity, walk-in shower, and walk-in closet; the junior suite has a private bath with a dual-head shower.
The property is positioned between NoMa Metro Station and Gallaudet University, with Union Market, Trader Joe’s, Union Station, Capitol Hill, neighborhood parks, restaurants, and the H Street Corridor within the surrounding area. Built in 2008.
Key Highlights
- Two‑level layout with two oversized bedroom suites, each offering a private bathroom
- 7.2 kW south‑facing solar array designed to offset nearly all annual electrical consumption
- Chef’s kitchen with Sub‑Zero refrigerator, Wolf range, industrial‑grade hood, granite counters, and custom cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,534
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,680
$650.7K
Cap Rate 7%
$464,771
$464.8K
Cap Rate 9%
$361,489
$361.5K
Market Conditions
NOI Build-Up for 1,911 SF
Gross rent
$63.1K $33.00/SF
− Vacancy
−$3.9K −$2.05/SF
EGI
$59.2K $30.95/SF
− OpEx
−$26.6K −$13.93/SF
NOI
$32.5K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,680
Cap Rate 7%
$464,771
Cap Rate 9%
$361,489
Alternative Uses
Best Use
Apartment 5plus
$464.8K
$406.7K – $542.2K
NOI $32,534 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$986.7K
$863.3K – $1.15M
NOI $69,066 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,514
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level residence with dual primary suites, private deck, and secure off-street parking.
Where is this residential income property located?
The property is located at 507 M STREET NE Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $874,997.
What are key features of this property?
This property features: Two‑level layout with two oversized bedroom suites, each offering a private bathroom; 7.2 kW south‑facing solar array designed to offset nearly all annual electrical consumption; Chef’s kitchen with Sub‑Zero refrigerator, Wolf range, industrial‑grade hood, granite counters, and custom cabinetry
