Studio Residential Income
For Sale
$219,950
522 21ST STREET NW Unit 807, Washington, DC 20006
Unit 807 offers a front-facing layout with a sleeping nook, updated kitchen, and built-in storage.
Property Size438 SF
Days on Market17
Property Features for 522 21ST STREET NW Unit 807
General Information
Standard status
Active
Size
438 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,725
Building Details
Building Size
438 SF
Year Built
1989
Listing Agency:
Sell DC Real Estate
(410) 340-7768
Listed By:
Susan McConkey · License #BR98376252
(410) 340-7768
Source:
Kwcapitalproperties
Added: Aug 6
Changed: Aug 22
Last Checked: Aug 22 at 10:51AM
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 Sell DC Real Estate
Investment Insights
Based on property information with market context.
Unit 807 is a front-facing studio with an L-shaped configuration, abundant windows, hardwood parquet flooring, track lighting, and a dedicated sleeping nook. The kitchen has been updated with a gas range and additional cabinetry. A separate dressing area complements the bathroom, while oversized closets include built-in shelving and organizers. Pre-occupancy is possible.
The property is located at 522 21st Street NW in Washington, DC, next to George Washington University and the State Department. The building was constructed in 1989.
The property is located at 522 21st Street NW in Washington, DC, next to George Washington University and the State Department. The building was constructed in 1989.
Key Highlights
- Front‑facing studio in an L‑shaped floor plan
- Updated kitchen with gas stove and extra cabinetry
- Sleeping nook, hardwood parquet floors, and track lighting
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
$7,278
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
3.31%
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%
$145,560
$145.6K
Cap Rate 7%
$103,971
$104.0K
Cap Rate 9%
$80,867
$80.9K
Market Conditions
NOI Build-Up for 438 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
$13.9K $31.80/SF
− Vacancy
−$696 −$1.59/SF
EGI
$13.2K $30.21/SF
− OpEx
−$6.0K −$13.59/SF
NOI
$7.3K $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 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%
$145,560
Cap Rate 7%
$103,971
Cap Rate 9%
$80,867
Alternative Uses
Best Use
Apartment 5plus
$104.0K
$91.0K – $121.3K
NOI $7,278 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$225.3K
$197.1K – $262.9K
NOI $15,771 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 20006, DC
1,599
Population
904
Households
1.8
Avg Household Size
24
Median Age
85%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
3,998
Density / Sq Mi
$36,019
Median Household Income
$2,035
Median Rent
$255,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Unit 807 offers a front-facing layout with a sleeping nook, updated kitchen, and built-in storage.
Where is this residential income property located?
The property is located at 522 21ST STREET NW Unit 807 Washington, DC.
What is the asking price?
The asking price for this property is $219,950.
What are key features of this property?
This property features: Front‑facing studio in an L‑shaped floor plan; Updated kitchen with gas stove and extra cabinetry; Sleeping nook, hardwood parquet floors, and track lighting
