Residential Income Property with
For Sale
$325,000
730 24TH STREET NW Unit 409, Washington, DC 20037
A private balcony extends the living area, with an assigned space in the underground garage.
Property Size730 SF
Days on Market22
Property Features for 730 24TH STREET NW Unit 409
General Information
Standard status
Active
Size
730 SF
Property subtype
Penthouse Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$193,016
Building Details
Building Size
730 SF
Year Built
1961
Listing Agency:
Redfin Corp
Listed By:
Valeriia Solodka · License #SP98378432
(202) 431-3412
Source:
Kwcapitalproperties
Added: Sep 28
Changed: Oct 12
Last Checked: Oct 16 at 3:45PM
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 Redfin Corp
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Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condo in Potomac Plaza Terraces offers 730 square feet of living space and hardwood floors. The kitchen has stainless steel appliances, upgraded countertops, cabinetry, and updated lighting. A walk-in closet serves the bedroom, and a private balcony adds outdoor space. The building was constructed in 1961. Residents have access to laundry facilities, a rooftop terrace, bike storage, and an assigned underground parking space.
The property is in Foggy Bottom near the Foggy Bottom-GWU Metro, George Washington University and Hospital, Whole Foods, Trader Joe's, and the Kennedy Center. Restaurants, shopping, and daily conveniences are nearby; Georgetown, the Potomac waterfront, Rock Creek Park, and the National Mall are also within easy reach.
The property is in Foggy Bottom near the Foggy Bottom-GWU Metro, George Washington University and Hospital, Whole Foods, Trader Joe's, and the Kennedy Center. Restaurants, shopping, and daily conveniences are nearby; Georgetown, the Potomac waterfront, Rock Creek Park, and the National Mall are also within easy reach.
Key Highlights
- 730‑square‑foot, one‑bedroom, one‑bath condo
- Private balcony and bedroom walk‑in closet
- Assigned parking space in the underground garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,129
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
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
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 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 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$375.5K
$328.6K – $438.1K
NOI $26,284 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - A private balcony extends the living area, with an assigned space in the underground garage.
Where is this residential income property located?
The property is located at 730 24TH STREET NW Unit 409 Washington, DC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 730‑square‑foot, one‑bedroom, one‑bath condo; Private balcony and bedroom walk‑in closet; Assigned parking space in the underground garage
