737 MORTON Street NW Washington, DC 20010
MULTI_FAMILY - Other - WASHINGTON, DC
Property Features for 737 MORTON Street NW
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 2
- Parking features
- Fenced, Driveway
- Standard status
- Active
- 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 agent Meaghan Parker License #SP40004319 (301) 215-0501
Listing office RLAH @properties 4600 N Park Avenue unit: 100, Chevy Chase, DC (301) 652-0643
Listing date Mar 13, 2026
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.
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 DC property with $70,800/year rental income and about $11K/year in owner expenses (seller‑stated nearly 6.9% cap rate).
- Year built 1906 with vinyl siding; central heating and central air.
- Top‑floor unit: open‑concept full level with bamboo/hardwood floors, granite counters, stainless appliances, large kitchen island, 2BR/2BA and in‑unit laundry.
Local 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 |