Updated 2-Bedroom 1031 Exchange
For Sale
$374,900
80 NEW YORK AVENUE NW Unit 402, Washington, DC 20001
Fourth-floor condominium with upgraded finishes, city views, and a lease transferring through August 2027.
Property Size842 SF
Days on Market8
Property Features for 80 NEW YORK AVENUE NW Unit 402
General Information
Standard status
Active
Size
842 SF
Property subtype
Unit/Flat/Apartment
Occupancy
100%
Financials
Gross Income
$35,400
Average Monthly Rent
$2,950
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,751
Building Details
Building Size
842 SF
Year Built
1925
Tenancy
Single
Listing Agency:
RLAH @properties
Listed By:
Barri McClellan · License #sp98372805
(202) 531-0005
Source:
Kwcapitalproperties
Added: Aug 29
Changed: Aug 31
Last Checked: Sep 5 at 7:34AM
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 RLAH @properties
Investment Insights
Based on property information with market context.
This fourth-floor condominium includes two bedrooms and one bathroom within an open-concept layout. The unit has been refreshed with new hardwood plank flooring, neutral interior paint, quartz kitchen countertops, and newer appliances. City views and a design focused on natural light add to the interior presentation.
Located at 80 New York Avenue NW in Washington, D.C., the property is in Eckington and offers proximity to Metro service. Built in 1925, the condominium is currently occupied, and its existing lease transfers to the buyer through August 2027. The unit cannot be shown until that lease period ends.
Located at 80 New York Avenue NW in Washington, D.C., the property is in Eckington and offers proximity to Metro service. Built in 1925, the condominium is currently occupied, and its existing lease transfers to the buyer through August 2027. The unit cannot be shown until that lease period ends.
Key Highlights
- Two‑bedroom, one‑bathroom condominium on the fourth floor
- New hardwood plank flooring and fresh neutral paint
- Kitchen fitted with quartz countertops and newer appliances
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
$13,990
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
3.73%
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%
$279,800
$279.8K
Cap Rate 7%
$199,857
$199.9K
Cap Rate 9%
$155,444
$155.4K
Market Conditions
NOI Build-Up for 842 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
$26.8K $31.80/SF
− Vacancy
−$1.3K −$1.59/SF
EGI
$25.4K $30.21/SF
− OpEx
−$11.4K −$13.59/SF
NOI
$14.0K $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%
$279,800
Cap Rate 7%
$199,857
Cap Rate 9%
$155,444
Alternative Uses
Best Use
Apartment 5plus
$199.9K
$174.9K – $233.2K
NOI $13,990 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$433.1K
$379.0K – $505.3K
NOI $30,317 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,484
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
1031 exchange property - Fourth-floor condominium with upgraded finishes, city views, and a lease transferring through August 2027.
Where is this 1031 exchange property located?
The property is located at 80 NEW YORK AVENUE NW Unit 402 Washington, DC.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Two‑bedroom, one‑bathroom condominium on the fourth floor; New hardwood plank flooring and fresh neutral paint; Kitchen fitted with quartz countertops and newer appliances
