Residential Income Property with
For Sale
$275,000
70 RHODE ISLAND AVENUE NW Unit 304, Washington, DC 20001
One-bedroom residence pairs updated finishes with building amenities near dining, markets, and Metro access.
Property Size590 SF
Days on Market56
Property Features for 70 RHODE ISLAND AVENUE NW Unit 304
General Information
Standard status
Active
Size
590 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Bloomingdale
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
HOA Fee
$309.44
Taxes and HOA fees
Annual Taxes
$2,386
Amenities
hardwood floors
updated kitchen
stainless appliances
gas range
granite counters
gas fireplace
in-unit washer/dryer
common patio area
BBQ grill
pet friendly
Building Details
Building Size
590 SF
Year Built
1930
Listing Agency:
Corcoran McEnearney
Listed By:
Michael A Makris · License #SP98369308
(703) 402-0629
Source:
Kwcapitalproperties
Added: Sep 6
Changed: Oct 27
Last Checked: Oct 28 at 1:16PM
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 Corcoran McEnearney
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Investment Insights
Based on property information with market context.
Unit 304 is a one-bedroom condominium in The Providence, a 17-unit building constructed in 1930. The interior features hardwood flooring, an open living and dining arrangement, an updated kitchen with painted cabinetry, stainless appliances, a gas range, granite countertops, and island storage. A gas fireplace anchors the living area, while a corner nook provides space for a desk or reading chair. The bedroom has a double-door closet and an attached bath with access from the main living area. An in-unit washer and dryer and entry coat storage add convenience.
The property is located at 70 Rhode Island Avenue NW in Washington, DC’s Bloomingdale neighborhood. Restaurants, shops, markets, and the Bloomingdale Farmer’s Market are within walking distance, and Shaw-Howard Univ. Metro is less than a mile away. Building features include professional management, a rear garden patio with BBQ grill, FHA approval, pet-friendly policies, and water and gas included with the condo fee.
The property is located at 70 Rhode Island Avenue NW in Washington, DC’s Bloomingdale neighborhood. Restaurants, shops, markets, and the Bloomingdale Farmer’s Market are within walking distance, and Shaw-Howard Univ. Metro is less than a mile away. Building features include professional management, a rear garden patio with BBQ grill, FHA approval, pet-friendly policies, and water and gas included with the condo fee.
Key Highlights
- One‑bedroom Unit 304 in The Providence, a 17‑unit building
- Updated kitchen with stainless appliances, gas range, granite counters, and island storage
- Open living and dining layout with hardwood floors and a gas fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,803
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$196,060
$196.1K
Cap Rate 7%
$140,043
$140.0K
Cap Rate 9%
$108,922
$108.9K
Market Conditions
NOI Build-Up for 590 SF
Gross rent
$18.8K $31.80/SF
− Vacancy
−$938 −$1.59/SF
EGI
$17.8K $30.21/SF
− OpEx
−$8.0K −$13.59/SF
NOI
$9.8K $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%
$196,060
Cap Rate 7%
$140,043
Cap Rate 9%
$108,922
Alternative Uses
Best Use
Apartment 5plus
$140.0K
$122.5K – $163.4K
NOI $9,803 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$303.5K
$265.5K – $354.1K
NOI $21,243 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,678
Businesses Nearby
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Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence pairs updated finishes with building amenities near dining, markets, and Metro access.
Where is this residential income property located?
The property is located at 70 RHODE ISLAND AVENUE NW Unit 304 Washington, DC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: One‑bedroom Unit 304 in The Providence, a 17‑unit building; Updated kitchen with stainless appliances, gas range, granite counters, and island storage; Open living and dining layout with hardwood floors and a gas fireplace
