Historic One-Bedroom
For Sale
$199,950
6722 3RD ST NW #204, Washington, DC 20012
WASHINGTON, DC
Property Size715 SF
Price / SF$279.65
Days on Market472
Property Features for 6722 3RD ST NW #204
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Subdivision
BRIGHTWOOD
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Amenities
in-unit laundry
ceiling fans
storage bin
Building Details
Year built
1928
Listing Agency:
Navy Yard
(202) 547-9200
Listed By:
Joseph Butcher
Added: May 9, 2025
Changed: Aug 23
Last Checked: Aug 23 at 7:06PM
MLS# DCDC2187610
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condominium offers 715 finished square feet within a 1928 Art Deco building. The residence features classic brick construction, wood flooring, ceiling fans, and double-hung, double-pane windows that bring natural light into the living area. The kitchen includes a gas oven/range, refrigerator, stacked washer/dryer, dishwasher, and microwave, while a dedicated storage bin adds practical utility.
Whittier Gardens Condominium is located in Brightwood, with on-street parking and access to local parks and nearby schools. The condominium association handles snow removal, water, trash, and lawn maintenance, supporting convenient day-to-day ownership.
Whittier Gardens Condominium is located in Brightwood, with on-street parking and access to local parks and nearby schools. The condominium association handles snow removal, water, trash, and lawn maintenance, supporting convenient day-to-day ownership.
Key Highlights
- 715 finished SF with 1 bedroom and 1 bathroom
- Located in the 1928 Whittier Gardens Condominium
- Art Deco building with classic brick construction
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
$11,880
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
5.94%
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%
$237,600
$237.6K
Cap Rate 7%
$169,714
$169.7K
Cap Rate 9%
$132,000
$132.0K
Market Conditions
NOI Build-Up for 715 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
$22.7K $31.80/SF
− Vacancy
−$1.1K −$1.59/SF
EGI
$21.6K $30.21/SF
− OpEx
−$9.7K −$13.59/SF
NOI
$11.9K $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 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%
$237,600
Cap Rate 7%
$169,714
Cap Rate 9%
$132,000
Alternative Uses
Best Use
Apartment 5plus
$169.7K
$148.5K – $198.0K
NOI $11,880 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.8K
$321.8K – $429.1K
NOI $25,744 @ 7.0% cap · market cap 12.88%
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
1,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 20012, DC
15,485
Population
7,599
Households
2
Avg Household Size
41
Median Age
59%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
7,374
Density / Sq Mi
$128,234
Median Household Income
$75,138
Median Earnings
$1,638
Median Rent
$838,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Well-maintained condominium residence with in-unit laundry, included appliances, storage, and association-maintained grounds.
Where is this residential income property located?
The property is located at 6722 3RD ST NW #204 Washington, DC.
What is the asking price?
The asking price for this property is $199,950.
What are key features of this property?
This property features: 715 finished SF with 1 bedroom and 1 bathroom; Located in the 1928 Whittier Gardens Condominium; Art Deco building with classic brick construction
