Renovated Two-Unit
For Sale
$1,099,000
615 MORTON PLACE NE, Washington, DC 20002
Fully renovated duplex with two complete units and a separate lower-level apartment.
Property Size1,672 SF
Price / SF$657.30
Days on Market101
Property Features for 615 MORTON PLACE NE
General Information
Standard status
Active
Size
1,672 SF
Property subtype
Duplex
Site & Location
Neighborhood
Ft. Washington
Additional Details
Multifamily Units
2
Building Details
Year Built
1924
Listing Agency:
Keller Williams Capital Properties
(202) 243-7700
Listed By:
Joel S Nelson · License #0225080234
(202) 243-7707
Source:
Cummingsrealtors
Added: Jul 21
Changed: Oct 28
Last Checked: Oct 28 at 7:07AM
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
Based on property information with market context.
This fully renovated two-unit residence offers a complete upper home and a fully separate lower-level apartment. The main level features hardwood floors, an open living and dining layout, and a gourmet kitchen with a waterfall quartz island, along with a powder room and two bright upstairs bedrooms, including a spacious primary suite with a soaking tub and treetop views.
The lower unit provides immediate rental flexibility, with the separate apartment suited for either short- or long-term leasing. The property is described as being within steps of Union Market or Whole Foods. The seller has also offered a $20,000 closing credit for settlement in August to support a 2/1 rate buydown.
The lower unit provides immediate rental flexibility, with the separate apartment suited for either short- or long-term leasing. The property is described as being within steps of Union Market or Whole Foods. The seller has also offered a $20,000 closing credit for settlement in August to support a 2/1 rate buydown.
Key Highlights
- Fully renovated 2‑unit duplex with a separate lower‑level apartment for separate occupancy and leasing.
- 1924 construction, with a main home featuring hardwood floors, open living/dining, and a gourmet kitchen with a waterfall quartz island.
- Main home includes powder room and two bright upstairs bedrooms, including a spacious primary suite with soaking tub and treetop views.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,854
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,080
$637.1K
Cap Rate 7%
$455,057
$455.1K
Cap Rate 9%
$353,933
$353.9K
Market Conditions
NOI Build-Up for 1,672 SF
Gross rent
$48.2K $28.80/SF
− Vacancy
−$2.6K −$1.58/SF
EGI
$45.5K $27.22/SF
− OpEx
−$13.7K −$8.16/SF
NOI
$31.9K $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 Rate 5%
$637,080
Cap Rate 7%
$455,057
Cap Rate 9%
$353,933
Alternative Uses
Best Use
Multifamily LT 5
$455.1K
$398.2K – $530.9K
NOI $31,854 @ 7.0% cap · market cap 2.90%
Second Best
Apartment 5plus
$406.6K
$355.8K – $474.4K
NOI $28,465 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$863.3K
$755.4K – $1.01M
NOI $60,428 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Fully renovated duplex with two complete units and a separate lower-level apartment.
Where is this duplex located?
The property is located at 615 MORTON PLACE NE Washington, DC.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Fully renovated 2‑unit duplex with a separate lower‑level apartment for separate occupancy and leasing.; 1924 construction, with a main home featuring hardwood floors, open living/dining, and a gourmet kitchen with a waterfall quartz island.; Main home includes powder room and two bright upstairs bedrooms, including a spacious primary suite with soaking tub and treetop views.
