Residential Income Property with Private
For Sale
$760,000
55 RHODE ISLAND AVENUE NW Unit 1, Washington, DC 20001
A two-level residence combines three bedrooms, private outdoor spaces, and separately deeded parking.
Property Size1,888 SF
Price / SF$410.81
Days on Market14
Property Features for 55 RHODE ISLAND AVENUE NW Unit 1
General Information
Standard status
Active
Size
1,888 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Parking per Unit
1
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,942
Amenities
balcony
private patio
Building Details
Building Size
1,888 SF
Year Built
1909
Year Renovated
2006
Construction
Federal-style
Listing Agency:
Real Broker, LLC - Gaithersburg
Listed By:
OMER Muktar RESHID
(443) 955-8400
Source:
Barnesrealestatecompany
Added: Sep 23
Changed: Oct 3
Last Checked: Oct 5 at 11:25PM
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 Real Broker, LLC - Gaithersburg
Investment Insights
Based on property information with market context.
This 1,850+ square foot, two-level residence occupies the first unit of a two-unit Federal-style rowhouse built in 1909 and converted to condominiums in 2006. The main floor has an open living area, kitchen, dining room, and half bath; three bedrooms and two full baths are upstairs. Interior details include hardwood floors, painted brick, stainless appliances, concrete countertops and vanities, and exposed ductwork. The primary suite includes a walk-in closet and en suite bath with a separate tub and tiled shower. Private outdoor areas include a balcony and two patios, with access from the rear to a separately deeded parking space.
The property is in Bloomingdale, near neighborhood cafes, restaurants, and a weekend farmers market, with access to Shaw, NoMa, and downtown. The building is self-managed and allows pets.
The property is in Bloomingdale, near neighborhood cafes, restaurants, and a weekend farmers market, with access to Shaw, NoMa, and downtown. The building is self-managed and allows pets.
Key Highlights
- 1,850+ square feet across two levels
- Three bedrooms, two full baths, and a half bath
- Separately deeded parking with access from the balcony and rear patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,739
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,780
$614.8K
Cap Rate 7%
$439,129
$439.1K
Cap Rate 9%
$341,544
$341.5K
Market Conditions
NOI Build-Up for 1,850 SF
Gross rent
$58.8K $31.80/SF
− Vacancy
−$2.9K −$1.59/SF
EGI
$55.9K $30.21/SF
− OpEx
−$25.1K −$13.59/SF
NOI
$30.7K $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 Rate 5%
$614,780
Cap Rate 7%
$439,129
Cap Rate 9%
$341,544
Alternative Uses
Best Use
Apartment 5plus
$439.1K
$384.2K – $512.3K
NOI $30,739 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$951.6K
$832.6K – $1.11M
NOI $66,611 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,678
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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Frequently Asked Questions
What type of property is this?
Residential income property - A two-level residence combines three bedrooms, private outdoor spaces, and separately deeded parking.
Where is this residential income property located?
The property is located at 55 RHODE ISLAND AVENUE NW Unit 1 Washington, DC.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: 1,850+ square feet across two levels; Three bedrooms, two full baths, and a half bath; Separately deeded parking with access from the balcony and rear patio
