Two-Bedroom Residential Income
For Sale
$592,500
653 IRVING STREET NW Unit 7, Washington, DC 20010
Two-level home with two baths, hardwood floors, and floor-to-ceiling windows along a southwest-facing corner.
Property Size1,020 SF
Price / SF$580.88
Days on Market29
Property Features for 653 IRVING STREET NW Unit 7
General Information
Standard status
Active
Size
1,020 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,317
Building Details
Building Size
1,020 SF
Year Built
2019
Listing Agency:
Compass
Listed By:
Yehoshua Yosaif Zuares · License #SP200202859
(240) 475-0307
Source:
Kerishull
Added: Sep 8
Changed: Oct 3
Last Checked: Oct 6 at 12:34AM
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
Investment Insights
Based on property information with market context.
This two-level residential property contains approximately 1,020 square feet with two bedrooms and two bathrooms. Completed in 2019, the home features hardwood flooring, floor-to-ceiling windows, and a southwest corner orientation that brings natural light into the living spaces. The main level combines living and dining areas with a kitchen equipped with stainless steel appliances, a gas range, quartz countertops, European-style cabinetry, and a 10-foot eat-in peninsula.
The property is positioned across from Bruce Monroe Park and Community Garden in Park View. Columbia Heights and Petworth Metro stations are each just over half a mile away. Dining, coffee, and entertainment destinations in the surrounding area include Qui Qui, Astu Kitfo, Doubles, Midlands Beer Garden, Reign, and Call Your Mother.
The property is positioned across from Bruce Monroe Park and Community Garden in Park View. Columbia Heights and Petworth Metro stations are each just over half a mile away. Dining, coffee, and entertainment destinations in the surrounding area include Qui Qui, Astu Kitfo, Doubles, Midlands Beer Garden, Reign, and Call Your Mother.
Key Highlights
- Approximately 1,020 square feet across two levels
- Two bedrooms and two bathrooms
- Built in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,948
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,960
$339.0K
Cap Rate 7%
$242,114
$242.1K
Cap Rate 9%
$188,311
$188.3K
Market Conditions
NOI Build-Up for 1,020 SF
Gross rent
$32.4K $31.80/SF
− Vacancy
−$1.6K −$1.59/SF
EGI
$30.8K $30.21/SF
− OpEx
−$13.9K −$13.59/SF
NOI
$16.9K $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 Rate 5%
$338,960
Cap Rate 7%
$242,114
Cap Rate 9%
$188,311
Alternative Uses
Best Use
Apartment 5plus
$242.1K
$211.9K – $282.5K
NOI $16,948 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$524.7K
$459.1K – $612.1K
NOI $36,726 @ 7.0% cap · market cap 6.20%
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
5,241
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level home with two baths, hardwood floors, and floor-to-ceiling windows along a southwest-facing corner.
Where is this residential income property located?
The property is located at 653 IRVING STREET NW Unit 7 Washington, DC.
What is the asking price?
The asking price for this property is $592,500.
What are key features of this property?
This property features: Approximately 1,020 square feet across two levels; Two bedrooms and two bathrooms; Built in 2019
