Two-Unit Duplex with Private
For Sale
$997,500
51 Q STREET NW, Washington, DC 20001
Turn-key two-unit building with separate private entrances and gated outdoor space, including an upstairs 3-bedroom unit.
Property Size2,733 SF
Price / SF$364.98
Days on Market74
Property Features for 51 Q STREET NW
General Information
Standard status
Active
Size
2,733 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Amenities
gated front green space
gated rear yard
Building Details
Year Built
2024
Tenancy
Multi
Listing Agency:
Fairfax Realty Premier
(301) 439-9500
Listed By:
Donovan Green · License #SP98372583
(202) 368-8167
Source:
Cummingsrealtors
Added: Jun 29
Changed: Sep 10
Last Checked: Sep 10 at 6:02AM
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 Fairfax Realty Premier
Investment Insights
Based on property information with market context.
51 Q Street NW is a fully legal, turn-key two-unit duplex configured as two distinct, self-contained living spaces. Each unit has its own private entrance and dual means of egress. The upper unit is a modern 3-bedroom, 2.5-bath residence with an open-concept main level, espresso hardwood floors, and LED lighting. The kitchen is described as a Euro-style culinary space with quartz countertops and contemporary finishes.
The lower unit is a fully independent 2-bedroom, 2-bath suite with a modern kitchen with quartz countertops, a dedicated stacked washer/dryer, and excellent natural light. The property is also described as offering gated outdoor areas, including a secure gated front green space and a gated rear yard with convenient alley access.
The lower-level unit is presented as capable of commanding up to $3,000/month in market rent, with flexibility described for long-term rental, short-term rental use, or other residential or work-from-home arrangements. Access to multiple dining and retail corridors is described nearby, along with walkable transit options including nearby Metro stations and a Capital Bikeshare location.
The lower unit is a fully independent 2-bedroom, 2-bath suite with a modern kitchen with quartz countertops, a dedicated stacked washer/dryer, and excellent natural light. The property is also described as offering gated outdoor areas, including a secure gated front green space and a gated rear yard with convenient alley access.
The lower-level unit is presented as capable of commanding up to $3,000/month in market rent, with flexibility described for long-term rental, short-term rental use, or other residential or work-from-home arrangements. Access to multiple dining and retail corridors is described nearby, along with walkable transit options including nearby Metro stations and a Capital Bikeshare location.
Key Highlights
- Fully legal two‑unit building built in 2024 with two self‑contained living spaces
- Upper unit: 3 bedrooms and 2.5 bathrooms with an open‑concept main level and LED lighting
- Lower unit: 2 bedrooms and 2 bathrooms with a dedicated stacked washer/dryer and private kitchen
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
$48,968
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
4.91%
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%
$979,360
$979.4K
Cap Rate 7%
$699,543
$699.5K
Cap Rate 9%
$544,089
$544.1K
Market Conditions
NOI Build-Up for 2,733 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
$73.8K $27.00/SF
− Vacancy
−$3.8K −$1.40/SF
EGI
$70.0K $25.60/SF
− OpEx
−$21.0K −$7.68/SF
NOI
$49.0K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /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%
$979,360
Cap Rate 7%
$699,543
Cap Rate 9%
$544,089
Alternative Uses
Best Use
Multifamily LT 5
$699.5K
$612.1K – $816.1K
NOI $48,968 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$648.7K
$567.6K – $756.8K
NOI $45,410 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,404 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,451
Businesses Nearby
Explore this area
Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Turn-key two-unit building with separate private entrances and gated outdoor space, including an upstairs 3-bedroom unit.
Where is this duplex located?
The property is located at 51 Q STREET NW Washington, DC.
What is the asking price?
The asking price for this property is $997,500.
What are key features of this property?
This property features: Fully legal two‑unit building built in 2024 with two self‑contained living spaces; Upper unit: 3 bedrooms and 2.5 bathrooms with an open‑concept main level and LED lighting; Lower unit: 2 bedrooms and 2 bathrooms with a dedicated stacked washer/dryer and private kitchen
