Two-Bedroom Residential Income
For Sale
$550,000
629 4TH STREET NE Unit 1, Washington, DC 20002
Condo residence with a private entrance, open living areas, gas cooking, and in-unit laundry.
Property Size1,000 SF
Days on Market13
Property Features for 629 4TH STREET NE Unit 1
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,806
Amenities
private entrance
gas fireplace
in-unit washer and dryer
pet-friendly
Building Details
Building Size
1,000 SF
Year Built
1909
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Megan Thiel
(202) 810-2155
Source:
Kwcapitalproperties
Added: Sep 2
Changed: Sep 13
Last Checked: Sep 14 at 7:46AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This two-bedroom, 1.5-bath condominium occupies Unit 1 within a three-unit building constructed in 1909. The home offers an open arrangement connecting the living and dining areas, along with a kitchen equipped for gas cooking, ample counter space, and bar seating. A gas fireplace adds a defined feature to the interior, while both bedrooms provide storage. An in-unit washer and dryer and additional closet space complete the residence. The property also has its own private entrance and is identified as pet-friendly.
Located at 629 4th Street NE in Washington, DC, the home is near the H Street Corridor, Whole Foods, Union Market, Union Station, Stanton Park, and Eastern Market. The 1,000-square-foot condominium combines a residential layout with access to dining, retail, transit, and neighborhood destinations.
Located at 629 4th Street NE in Washington, DC, the home is near the H Street Corridor, Whole Foods, Union Market, Union Station, Stanton Park, and Eastern Market. The 1,000-square-foot condominium combines a residential layout with access to dining, retail, transit, and neighborhood destinations.
Key Highlights
- Two‑bedroom, 1.5‑bath condominium in a three‑unit building
- 1,000 SF residence at 629 4th Street NE, Washington, DC 20002
- Private entrance for Unit 1
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
$17,025
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
3.10%
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%
$340,500
$340.5K
Cap Rate 7%
$243,214
$243.2K
Cap Rate 9%
$189,167
$189.2K
Market Conditions
NOI Build-Up for 1,000 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
$33.0K $33.00/SF
− Vacancy
−$2.0K −$2.05/SF
EGI
$31.0K $30.95/SF
− OpEx
−$13.9K −$13.93/SF
NOI
$17.0K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /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%
$340,500
Cap Rate 7%
$243,214
Cap Rate 9%
$189,167
Alternative Uses
Best Use
Apartment 5plus
$243.2K
$212.8K – $283.8K
NOI $17,025 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$516.3K
$451.8K – $602.4K
NOI $36,141 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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 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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Frequently Asked Questions
What type of property is this?
Residential income property - Condo residence with a private entrance, open living areas, gas cooking, and in-unit laundry.
Where is this residential income property located?
The property is located at 629 4TH STREET NE Unit 1 Washington, DC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bath condominium in a three‑unit building; 1,000 SF residence at 629 4th Street NE, Washington, DC 20002; Private entrance for Unit 1
