Duplex Residential Income
For Sale
$825,000
616 E E STREET NW Unit 656, Washington, DC 20004
Two-level three-bedroom residence with concierge service, rooftop amenities, fitness facilities, and an outdoor pool.
Property Size1,410 SF
Days on Market10
Property Features for 616 E E STREET NW Unit 656
General Information
Standard status
Active
Size
1,410 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,987
Amenities
rooftop
outdoor pool
grills
rooftop kitchen
24-hour concierge
fitness center
conference room
movie theater
business center
Juliette balconies
underground garage parking
Building Details
Building Size
1,410 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: Aug 14
Changed: Aug 20
Last Checked: Aug 22 at 10:46AM
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.
This two-level duplex residence offers 3BR/2.5BA, an open living and dining area, a dedicated office nook, and an entry powder room. The kitchen includes stainless steel appliances, substantial cabinetry, storage, and a breakfast bar. Upstairs are a primary suite with custom walk-in closets and an en-suite bath with soaking tub, plus two additional bedrooms and a full bath. Wood flooring, Juliette balconies on both levels, and interior-courtyard views add to the layout’s appeal.
Located in Clara Barton at 616 E E STREET NW, the residence includes access to a rooftop with seating areas, greenery, grills, and a kitchen, along with an outdoor in-ground pool, fitness center, conference room, movie theater, business center, and 24-hour concierge package collection. Hallway improvements were completed in 2020, rooftop work in 2022, and comprehensive common-area renovations at the end of 2024. Underground garage parking is available on a monthly basis. Penn Quarter dining, museums, cultural venues, shopping, multiple Metro stations, Union Station, Reagan National Airport, and major commuter routes are within easy reach.
Located in Clara Barton at 616 E E STREET NW, the residence includes access to a rooftop with seating areas, greenery, grills, and a kitchen, along with an outdoor in-ground pool, fitness center, conference room, movie theater, business center, and 24-hour concierge package collection. Hallway improvements were completed in 2020, rooftop work in 2022, and comprehensive common-area renovations at the end of 2024. Underground garage parking is available on a monthly basis. Penn Quarter dining, museums, cultural venues, shopping, multiple Metro stations, Union Station, Reagan National Airport, and major commuter routes are within easy reach.
Key Highlights
- Two‑level 3BR/2.5BA duplex residence
- Open living and dining area with office nook and breakfast bar
- Primary suite includes custom walk‑in closets and en‑suite soaking tub
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
$23,428
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
2.84%
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%
$468,560
$468.6K
Cap Rate 7%
$334,686
$334.7K
Cap Rate 9%
$260,311
$260.3K
Market Conditions
NOI Build-Up for 1,410 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
$44.8K $31.80/SF
− Vacancy
−$2.2K −$1.59/SF
EGI
$42.6K $30.21/SF
− OpEx
−$19.2K −$13.59/SF
NOI
$23.4K $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%
$468,560
Cap Rate 7%
$334,686
Cap Rate 9%
$260,311
Alternative Uses
Best Use
Apartment 5plus
$334.7K
$292.9K – $390.5K
NOI $23,428 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$725.3K
$634.6K – $846.1K
NOI $50,768 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level three-bedroom residence with concierge service, rooftop amenities, fitness facilities, and an outdoor pool.
Where is this residential income property located?
The property is located at 616 E E STREET NW Unit 656 Washington, DC.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Two‑level 3BR/2.5BA duplex residence; Open living and dining area with office nook and breakfast bar; Primary suite includes custom walk‑in closets and en‑suite soaking tub
