Remodeled Two-Unit
For Sale
$699,900
620 20TH STREET NE, Washington, DC 20002
Remodeled two-unit duplex with separately metered lower level and in-unit washer/dryer for both units.
Property Size1,684 SF
Price / SF$415.62
Days on Market18
Property Features for 620 20TH STREET NE
General Information
Standard status
Active
Size
1,684 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$5,813
Building Details
Building Size
1,684 SF
Year Built
1929
Buildings
1
Tenancy
Multi
Listing Agency:
Long & Foster Real Estate, Inc.
(202) 256-7039
Listed By:
Samuel R Davis · License #ab95309
(202) 256-7039
Source:
Kerishull
Added: Jul 28
Changed: Aug 14
Last Checked: Aug 14 at 11:57AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
Remodeled two-unit duplex configured for separate living and rental use, with a separately metered lower level and internal access. The property totals four bedrooms and three and a half bathrooms, with three bedrooms and two and a half bathrooms on the top two floors plus a one-bedroom, one-bath lower level with a separate internal entry. Both units include in-unit washer/dryer, and the home is described as fully remodeled with modern finishes throughout, including a kitchen with white shaker cabinetry, stone countertops, and updated bathrooms.
Built in 1929 and sized at 1,684 square feet, this duplex is positioned as an income-producing property in an active developing neighborhood near the new RFK Development. The setup allows for owner-occupancy in one unit while collecting rent from the other.
The property is presented as turn-key for immediate occupancy and rental operations, supported by the separate metering and unit-level laundry amenities.
Built in 1929 and sized at 1,684 square feet, this duplex is positioned as an income-producing property in an active developing neighborhood near the new RFK Development. The setup allows for owner-occupancy in one unit while collecting rent from the other.
The property is presented as turn-key for immediate occupancy and rental operations, supported by the separate metering and unit-level laundry amenities.
Key Highlights
- Two‑unit duplex with separately metered lower level
- Four bedrooms and three and a half bathrooms total
- 1,684 square feet and built in 1929
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
$32,082
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
4.58%
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%
$641,640
$641.6K
Cap Rate 7%
$458,314
$458.3K
Cap Rate 9%
$356,467
$356.5K
Market Conditions
NOI Build-Up for 1,684 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
$48.5K $28.80/SF
− Vacancy
−$2.7K −$1.58/SF
EGI
$45.8K $27.22/SF
− OpEx
−$13.7K −$8.16/SF
NOI
$32.1K $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 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%
$641,640
Cap Rate 7%
$458,314
Cap Rate 9%
$356,467
Alternative Uses
Best Use
Multifamily LT 5
$458.3K
$401.0K – $534.7K
NOI $32,082 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$409.6K
$358.4K – $477.8K
NOI $28,670 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$869.5K
$760.8K – $1.01M
NOI $60,862 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,202
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled two-unit duplex with separately metered lower level and in-unit washer/dryer for both units.
Where is this duplex located?
The property is located at 620 20TH STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two‑unit duplex with separately metered lower level; Four bedrooms and three and a half bathrooms total; 1,684 square feet and built in 1929
