Three-Bedroom Residential Income
For Sale
$629,000
646 NEWTON PLACE NW Unit 203, Washington, DC 20010
South-facing condo unit with an open layout, hardwood floors, premium soundproofing, and a designer kitchen.
Property Size1,095 SF
Price / SF$574.43
Days on Market23
Property Features for 646 NEWTON PLACE NW Unit 203
General Information
Standard status
Active
Size
1,095 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,806
Building Details
Building Size
1,095 SF
Year Built
1972
Listing Agency:
Realty Advantage of Maryland LLC
(301) 222-1000
Listed By:
Arman Khastou · License #655792
(301) 222-1000
Source:
Kerishull
Added: Jul 24
Changed: Aug 14
Last Checked: Aug 14 at 12:08PM
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 Realty Advantage of Maryland LLC
Investment Insights
Based on property information with market context.
Unit 203 at The Arietta is a south-facing residential income property with 1,095 square feet of living space, three bedrooms, high ceilings, and an open floor plan. Hardwood flooring extends throughout the unit, while gypcrete subflooring and spray-foamed exterior walls provide premium soundproofing. The kitchen includes custom cabinetry, quartz countertops, and a five-burner gas range. Modern bathrooms, large closets, and energy-efficient LED lighting complete the interior.
The professionally managed condo association includes water, trash, and gas in the monthly fee. The building is pet-friendly, and parking is available for purchase. The property has a 90/100 Walk Score, sits near the Georgia Ave Corridor and local dining, and is two blocks from the Georgia Ave-Petworth Metro. Built in 1972.
The professionally managed condo association includes water, trash, and gas in the monthly fee. The building is pet-friendly, and parking is available for purchase. The property has a 90/100 Walk Score, sits near the Georgia Ave Corridor and local dining, and is two blocks from the Georgia Ave-Petworth Metro. Built in 1972.
Key Highlights
- 1,095 SF south‑facing condo unit with 3 bedrooms
- Open floor plan with hardwood flooring and high ceilings
- Custom kitchen with quartz countertops and a 5‑burner gas range
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
$18,194
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
2.89%
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%
$363,880
$363.9K
Cap Rate 7%
$259,914
$259.9K
Cap Rate 9%
$202,156
$202.2K
Market Conditions
NOI Build-Up for 1,095 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
$34.8K $31.80/SF
− Vacancy
−$1.7K −$1.59/SF
EGI
$33.1K $30.21/SF
− OpEx
−$14.9K −$13.59/SF
NOI
$18.2K $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%
$363,880
Cap Rate 7%
$259,914
Cap Rate 9%
$202,156
Alternative Uses
Best Use
Apartment 5plus
$259.9K
$227.4K – $303.2K
NOI $18,194 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$563.2K
$492.8K – $657.1K
NOI $39,426 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - South-facing condo unit with an open layout, hardwood floors, premium soundproofing, and a designer kitchen.
Where is this residential income property located?
The property is located at 646 NEWTON PLACE NW Unit 203 Washington, DC.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 1,095 SF south‑facing condo unit with 3 bedrooms; Open floor plan with hardwood flooring and high ceilings; Custom kitchen with quartz countertops and a 5‑burner gas range
