Two-Unit Renovated
737 MORTON Street NW Washington, DC 20010
For Sale
Under Contract
$879,000
MULTI_FAMILY - Other - WASHINGTON, DC
Property Size1,882 SF
Lot Size0.05 Acres
Price / SF$467.06
Days on Market140
Property Features for 737 MORTON Street NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Fenced, Driveway
Standard status
Active Under Contract
Size
1,882 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7011
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1906
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
RLAH @properties
(301) 652-0643
Listed By:
Meaghan Parker · License #SP40004319
(301) 215-0501
Added: Mar 13
Changed: Jul 24
Last Checked: Jul 30 at 8:06AM
MLS# DCDC2243518
Copyright © 2026 Bright MLS. 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 two-unit duplex at 737 Morton Street NW offers two separately usable residences, with both units described as freshly renovated and move-in ready. The top-floor unit spans the full level and features an open-concept layout with bamboo and hardwood floors, granite countertops, stainless steel appliances, a large kitchen island, two bedrooms, two full baths, and in-unit laundry. The lower-level unit includes two bedrooms and one-and-a-half baths. The listing also notes two gated off-street parking spaces serving the property.
The property is positioned in the heart of one of Washington, DC’s most walkable neighborhoods, with access to Georgia Avenue dining and nightlife and proximity to Metro referenced in the remarks. Both units are currently vacant, which gives an owner the ability to select tenants and set rents. The seller indicates a plan to lease in approximately one week.
From an ownership standpoint, the layout supports multiple strategies, including investor use, house hacking, or condo-style occupancy. The listing states total rental income of $70,800 per year and owner expenses of about $11,000 per year, with an indicated nearly 6.9% cap rate. The remarks also describe potential under DC housing code for the top-floor unit to expand vertically with a second-story addition. Financing program fit is noted with references to NACA and DC Open Doors.
The property is positioned in the heart of one of Washington, DC’s most walkable neighborhoods, with access to Georgia Avenue dining and nightlife and proximity to Metro referenced in the remarks. Both units are currently vacant, which gives an owner the ability to select tenants and set rents. The seller indicates a plan to lease in approximately one week.
From an ownership standpoint, the layout supports multiple strategies, including investor use, house hacking, or condo-style occupancy. The listing states total rental income of $70,800 per year and owner expenses of about $11,000 per year, with an indicated nearly 6.9% cap rate. The remarks also describe potential under DC housing code for the top-floor unit to expand vertically with a second-story addition. Financing program fit is noted with references to NACA and DC Open Doors.
Key Highlights
- Two‑unit property built in 1906 with vinyl siding, central heating, and central air
- $70,800/year rental income reported; approximately $11K/year in owner expenses reported
- Reported nearly 6.9% cap rate (higher than average cap rate in DC per seller remarks)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.8k | $27.00 |
| − Vacancy | −$2.6k | −$1.40 |
| EGI | $48.2k | $25.60 |
| − OpEx | −$14.5k | −$7.68 |
| NOI | $33.7k | $17.92 |
1,882 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$481.7K
$421.5K – $562.0K
NOI $33,720 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$446.7K
$390.9K – $521.2K
NOI $31,270 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$968.0K
$847.0K – $1.13M
NOI $67,763 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-unit duplex with renovated interiors, in-unit laundry, and gated off-street parking for flexible owner or investor use.
Where is this duplex located?
The property is located at 737 MORTON Street NW Washington, DC.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Two‑unit property built in 1906 with vinyl siding, central heating, and central air; $70,800/year rental income reported; approximately $11K/year in owner expenses reported; Reported nearly 6.9% cap rate (higher than average cap rate in DC per seller remarks)
