Triplex with Updated Common
For Sale
$485,000
807 48TH NE, Washington, DC 20019
Fully occupied income property with an updated upper unit and building hallway.
Property Size1,995 SF
Days on Market58
Property Features for 807 48TH NE
General Information
Standard status
Active
Size
1,995 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Gross Income
$52,296
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,579
Building Details
Building Size
1,995 SF
Year Built
1933
Units
3
Listing Agency:
Area Real Estate
(717) 332-1369
Listed By:
Anna-Marie G Ashe · License #BR200200296
(717) 332-1369
Source:
Elliman
Added: Jul 4
Changed: Aug 30
Last Checked: Aug 30 at 7:59PM
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 Area Real Estate
Investment Insights
Based on property information with market context.
This three-unit residential income property was built in 1933 and includes a basement apartment, a first-floor unit, and an upper-level unit. The upper unit and shared building hallway have been updated, while the property is reported fully occupied.
Located at 807 48TH NE in Washington, DC’s Deanwood neighborhood, the property offers walkability, bike access, and transit connectivity, with a Walk Score of 65, Bike Score of 63, and Transit Score of 68. The TOPA process has started.
Located at 807 48TH NE in Washington, DC’s Deanwood neighborhood, the property offers walkability, bike access, and transit connectivity, with a Walk Score of 65, Bike Score of 63, and Transit Score of 68. The TOPA process has started.
Key Highlights
- Three‑unit triplex with basement, first‑floor, and upper‑level residences
- Upper unit and building hallway have been updated
- Reported fully occupied
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
$38,512
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
7.94%
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%
$770,240
$770.2K
Cap Rate 7%
$550,171
$550.2K
Cap Rate 9%
$427,911
$427.9K
Market Conditions
NOI Build-Up for 1,995 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
$58.7K $29.40/SF
− Vacancy
−$3.6K −$1.82/SF
EGI
$55.0K $27.58/SF
− OpEx
−$16.5K −$8.27/SF
NOI
$38.5K $19.30/SF
Area
ZIP 20019
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
30.00%
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%
$770,240
Cap Rate 7%
$550,171
Cap Rate 9%
$427,911
Alternative Uses
Best Use
Multifamily LT 5
$550.2K
$481.4K – $641.9K
NOI $38,512 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$491.5K
$430.1K – $573.5K
NOI $34,408 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$1.07M
$938.1K – $1.25M
NOI $75,045 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
Explore this area
Business Placement
Demographics for 20019, DC
59,601
Population
29,244
Households
2
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
6.1 sq mi
ZIP Area
9,771
Density / Sq Mi
$57,031
Median Household Income
$49,707
Median Earnings
$1,174
Median Rent
$437,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied income property with an updated upper unit and building hallway.
Where is this triplex located?
The property is located at 807 48TH NE Washington, DC.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Three‑unit triplex with basement, first‑floor, and upper‑level residences; Upper unit and building hallway have been updated; Reported fully occupied
