Corner Residential Income
For Sale
$289,000
730 24TH STREET NW Unit 205, Washington, DC 20037
Sunlit one-bedroom cooperative residence with balcony, garage parking, concierge service, and rooftop terrace access.
Property Size730 SF
Price / SF$395.89
Days on Market42
Property Features for 730 24TH STREET NW Unit 205
General Information
Standard status
Active
Size
730 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$214,758
Amenities
private balcony
concierge service
rooftop terrace
on-site property manager
pet-friendly
Building Details
Building Size
730 SF
Year Built
1961
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Adam Skrincosky · License #SP98369868
(703) 915-1827
Source:
Kwcapitalproperties
Added: Aug 4
Changed: Sep 5
Last Checked: Sep 13 at 10:50AM
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.
This 730-square-foot corner residence at Potomac Plaza Terraces features one bedroom, one full bath, hardwood flooring, and an open living and dining arrangement. The kitchen includes granite countertops, gas cooking, and a window facing H Street. A private balcony extends from the main living area, while the bedroom offers two closets, including a walk-in. In-unit washer/dryer installation is permitted with cooperative approval and in accordance with building guidelines.
The 1961 building provides 24/7 concierge service, an on-site property manager, a renovated lobby, and a rooftop terrace with panoramic views. Garage parking is available, including a space located near the elevator. The property is near Foggy Bottom Metro, GW University, the Kennedy Center, Rock Creek Park, Georgetown, Whole Foods, Trader Joe’s, retail, dining, and entertainment. Residents must occupy the unit for 2 years before renting it, and up to 2 pets are allowed per unit.
The 1961 building provides 24/7 concierge service, an on-site property manager, a renovated lobby, and a rooftop terrace with panoramic views. Garage parking is available, including a space located near the elevator. The property is near Foggy Bottom Metro, GW University, the Kennedy Center, Rock Creek Park, Georgetown, Whole Foods, Trader Joe’s, retail, dining, and entertainment. Residents must occupy the unit for 2 years before renting it, and up to 2 pets are allowed per unit.
Key Highlights
- 730‑square‑foot corner residence with a private balcony
- One bedroom and one full bath with hardwood floors
- Granite kitchen counters and gas cooking
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
$12,129
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
4.20%
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%
$242,580
$242.6K
Cap Rate 7%
$173,271
$173.3K
Cap Rate 9%
$134,767
$134.8K
Market Conditions
NOI Build-Up for 730 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
$23.2K $31.80/SF
− Vacancy
−$1.2K −$1.59/SF
EGI
$22.1K $30.21/SF
− OpEx
−$9.9K −$13.59/SF
NOI
$12.1K $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%
$242,580
Cap Rate 7%
$173,271
Cap Rate 9%
$134,767
Alternative Uses
Best Use
Apartment 5plus
$173.3K
$151.6K – $202.2K
NOI $12,129 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$375.5K
$328.6K – $438.1K
NOI $26,284 @ 7.0% cap · market cap 9.09%
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
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 20037, DC
14,945
Population
8,828
Households
1.7
Avg Household Size
29
Median Age
90%
College-Educated
99%
High-School Grad
0.7 sq mi
ZIP Area
21,350
Density / Sq Mi
$98,917
Median Household Income
$69,480
Median Earnings
$2,420
Median Rent
$743,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Sunlit one-bedroom cooperative residence with balcony, garage parking, concierge service, and rooftop terrace access.
Where is this residential income property located?
The property is located at 730 24TH STREET NW Unit 205 Washington, DC.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 730‑square‑foot corner residence with a private balcony; One bedroom and one full bath with hardwood floors; Granite kitchen counters and gas cooking
