Two-Level Residential Income
For Sale
$549,000
629 MORTON PLACE NE Unit 1, Washington, DC 20002
A flexible rear outdoor area offers space for recreation, gardening, or off-street vehicle parking.
Property Size1,000 SF
Days on Market26
Property Features for 629 MORTON PLACE NE Unit 1
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,206
Building Details
Building Size
1,000 SF
Year Built
1924
Listing Agency:
Compass
Listed By:
Kurt Matsa · License #SP200204634
(301) 512-6841
Source:
Kwcapitalproperties
Added: Sep 24
Changed: Oct 11
Last Checked: Oct 16 at 6:20PM
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 Compass
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Investment Insights
Based on property information with market context.
This two-level residence has 2 bedrooms and 2.5 baths, with living and dining areas, an open kitchen, and a powder room on the main floor. The lower level separates the sleeping spaces from the shared living area. The primary bedroom has an ensuite bath and three full-sized windows facing the rear outdoor space; a second bedroom and full bath are also on this level. The rear area can be used for outdoor activities or off-street parking, with room for a vehicle and additional storage or bicycles.
The property is between Union Market, NoMa, and the H Street Corridor, with neighborhood dining, shopping, and grocery options nearby. NoMa-Gallaudet Metro station is less than a ten-minute walk away. The home was built in 1924.
The property is between Union Market, NoMa, and the H Street Corridor, with neighborhood dining, shopping, and grocery options nearby. NoMa-Gallaudet Metro station is less than a ten-minute walk away. The home was built in 1924.
Key Highlights
- Two bedrooms and 2.5 baths across two levels
- Main floor includes living and dining areas, an open kitchen, and a powder room
- Primary bedroom has an ensuite bath and three full‑sized rear‑facing windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,025
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
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
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 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 6.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,884
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - A flexible rear outdoor area offers space for recreation, gardening, or off-street vehicle parking.
Where is this residential income property located?
The property is located at 629 MORTON PLACE NE Unit 1 Washington, DC.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two bedrooms and 2.5 baths across two levels; Main floor includes living and dining areas, an open kitchen, and a powder room; Primary bedroom has an ensuite bath and three full‑sized rear‑facing windows
