Courtyard-View Residential Income
For Sale
$345,000
616 E E STREET NW Unit 407, Washington, DC 20004
Light-filled condo with an open kitchen, wood floors, and extensive resident amenities.
Property Size603 SF
Price / SF$567.43
Days on Market23
Property Features for 616 E E STREET NW Unit 407
General Information
Standard status
Active
Size
603 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,076
Amenities
rooftop area
outdoor pool
grills
24 hour concierge
fitness center
conference room
movie theater
business center
Building Details
Building Size
603 SF
Year Built
2004
Listing Agency:
TTR Sotheby's International Realty
(443) 934-7362
Listed By:
Bridget Rigato · License #200200681
(443) 934-7362
Source:
Kwcapitalproperties
Added: Jul 31
Changed: Aug 21
Last Checked: Aug 21 at 11:23AM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
Unit 407 is a 608-square-foot condominium residence in the Clara Barton, completed in 2004. The floor plan includes an open kitchen, wood flooring, substantial storage, and three-quarter-length windows that bring in natural light while facing the building’s internal courtyard. A full bathroom includes a soaking tub, and the living area accommodates a large desk for work-from-home use. The property can serve as a primary residence or an investment property with an existing tenant.
Building amenities include a rooftop area, outdoor pool, grills, 24-hour concierge, fitness center, conference room, movie theater, and business center. Hallway improvements completed in 2020 included new flooring, lighting, and wall coverings; the rooftop was updated in 2024, with gym and common-area redesigns completed in 2025.
The residence is at 616 E E Street NW in Washington, DC’s Penn Quarter, near restaurants, museums, the National Mall, Capital One Arena, Metro, Union Station, Reagan National Airport, and major highways.
Building amenities include a rooftop area, outdoor pool, grills, 24-hour concierge, fitness center, conference room, movie theater, and business center. Hallway improvements completed in 2020 included new flooring, lighting, and wall coverings; the rooftop was updated in 2024, with gym and common-area redesigns completed in 2025.
The residence is at 616 E E Street NW in Washington, DC’s Penn Quarter, near restaurants, museums, the National Mall, Capital One Arena, Metro, Union Station, Reagan National Airport, and major highways.
Key Highlights
- 608‑square‑foot condominium residence in the Clara Barton
- Internal courtyard outlook with three‑quarter‑length windows and natural light
- Open kitchen, wood flooring, soaking tub, and ample storage
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
$10,102
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
2.93%
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%
$202,040
$202.0K
Cap Rate 7%
$144,314
$144.3K
Cap Rate 9%
$112,244
$112.2K
Market Conditions
NOI Build-Up for 608 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
$19.3K $31.80/SF
− Vacancy
−$967 −$1.59/SF
EGI
$18.4K $30.21/SF
− OpEx
−$8.3K −$13.59/SF
NOI
$10.1K $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%
$202,040
Cap Rate 7%
$144,314
Cap Rate 9%
$112,244
Alternative Uses
Best Use
Apartment 5plus
$144.3K
$126.3K – $168.4K
NOI $10,102 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$312.7K
$273.7K – $364.9K
NOI $21,892 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 20004, DC
1,682
Population
1,593
Households
1.1
Avg Household Size
40
Median Age
95%
College-Educated
100%
High-School Grad
0.2 sq mi
ZIP Area
8,410
Density / Sq Mi
$161,359
Median Household Income
$133,857
Median Earnings
$2,945
Median Rent
$650,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Light-filled condo with an open kitchen, wood floors, and extensive resident amenities.
Where is this residential income property located?
The property is located at 616 E E STREET NW Unit 407 Washington, DC.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 608‑square‑foot condominium residence in the Clara Barton; Internal courtyard outlook with three‑quarter‑length windows and natural light; Open kitchen, wood flooring, soaking tub, and ample storage
