Residential Income Property with Private
New
For Sale
$429,900
675 E STREET NW Unit 250, Washington, DC 20004
Downtown condo with hardwood floors, high ceilings, abundant storage, and direct bedroom access to outdoor space.
Property Size872 SF
Days on Market5
Property Features for 675 E STREET NW Unit 250
General Information
Standard status
Active
Size
872 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,445
Building Details
Building Size
872 SF
Year Built
2003
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Sherri Anne Green · License #SP98377392
(202) 798-1288
Source:
Kwcapitalproperties
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 14 at 11:13AM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
Residence 250 is an 872-square-foot condominium at The Residences at Terrell Place, a 29-unit building completed in 2003. The interior features an open layout, hardwood flooring, 9-foot-plus ceilings, oversized windows, granite kitchen counters, stainless steel appliances, substantial cabinetry, and multiple closets. The bedroom opens directly to a private terrace, while the oversized bathroom includes a soaking tub shower and large vanity. A storage unit conveys with the residence.
Building amenities include a weekday concierge, fitness room, and lobby. Pets are permitted with board approval. Rental parking with EV charging is available in the underground garage.
Located in Penn Quarter at 6th and E Streets NW, the property is walkable to four Metro stations, including Archives-Navy Memorial-Penn Quarter, Gallery Place-Chinatown, Judiciary Square, and Metro Center. I-395 access is minutes away, with Capital One Arena, museums, Ford’s Theatre, the National Mall, restaurants, and FreshFarm Penn Quarter Farmers Market nearby.
Building amenities include a weekday concierge, fitness room, and lobby. Pets are permitted with board approval. Rental parking with EV charging is available in the underground garage.
Located in Penn Quarter at 6th and E Streets NW, the property is walkable to four Metro stations, including Archives-Navy Memorial-Penn Quarter, Gallery Place-Chinatown, Judiciary Square, and Metro Center. I-395 access is minutes away, with Capital One Arena, museums, Ford’s Theatre, the National Mall, restaurants, and FreshFarm Penn Quarter Farmers Market nearby.
Key Highlights
- Private terrace accessed directly from the bedroom
- 872‑square‑foot condo in a 29‑unit building completed in 2003
- Open layout with hardwood floors, 9‑foot‑plus ceilings, and oversized windows
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
$14,489
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
3.37%
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%
$289,780
$289.8K
Cap Rate 7%
$206,986
$207.0K
Cap Rate 9%
$160,989
$161.0K
Market Conditions
NOI Build-Up for 872 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
$27.7K $31.80/SF
− Vacancy
−$1.4K −$1.59/SF
EGI
$26.3K $30.21/SF
− OpEx
−$11.9K −$13.59/SF
NOI
$14.5K $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%
$289,780
Cap Rate 7%
$206,986
Cap Rate 9%
$160,989
Alternative Uses
Best Use
Apartment 5plus
$207.0K
$181.1K – $241.5K
NOI $14,489 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$448.5K
$392.5K – $523.3K
NOI $31,397 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10,953
Businesses Nearby
Explore this area
Business Placement
Demographics for 20004, DC
1,682
Population
1,593
Households
1.1
Avg Household Size
40
Median Age
95%
College-Educated
100%
High-School Grad
0.2 sq mi
ZIP Area
8,410
Density / Sq Mi
$161,359
Median Household Income
$133,857
Median Earnings
$2,945
Median Rent
$650,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Downtown condo with hardwood floors, high ceilings, abundant storage, and direct bedroom access to outdoor space.
Where is this residential income property located?
The property is located at 675 E STREET NW Unit 250 Washington, DC.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Private terrace accessed directly from the bedroom; 872‑square‑foot condo in a 29‑unit building completed in 2003; Open layout with hardwood floors, 9‑foot‑plus ceilings, and oversized windows
