Renovated Three-Unit
For Sale
$724,990
903 MISSOURI Avenue NW, Washington, DC 20011
MULTI_FAMILY - Other - WASHINGTON, DC
Property Size1,824 SF
Lot Size0.03 Acres
Price / SF$397.47
Days on Market98
Property Features for 903 MISSOURI Avenue NW
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
1,824 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
4645
Utilities
Heating system
Other (Heating)
Amenities
fenced-in backyard
Building Details
Year built
1936
Number of units
3
Building materials
Brick
Architectural style
Other
Listing Agency:
Samson Properties
(240) 724-6550
Listed By:
Megan Janine Sheckles · License #SP40002376
(703) 819-0303
Added: May 9
Changed: Aug 6
Last Checked: Aug 14 at 4:06AM
MLS# DCDC2260742
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 brick multifamily property contains three residential units, each arranged with one bedroom, one bathroom, and an enclosed flex area. The 1,824-square-foot building has undergone renovation, including updated interiors, modern finishes, and new appliances. A fenced backyard provides additional outdoor space, and a Certificate of Occupancy is secured.
Built in 1936, the property sits in Washington, DC’s Petworth and Brightwood areas at 903 Missouri Avenue NW. Nearby amenities include charter schools, shopping, Walmart, restaurants, retail, parks, public transportation, and hospital and medical facilities. The property also offers access to major commuter routes and downtown DC.
Built in 1936, the property sits in Washington, DC’s Petworth and Brightwood areas at 903 Missouri Avenue NW. Nearby amenities include charter schools, shopping, Walmart, restaurants, retail, parks, public transportation, and hospital and medical facilities. The property also offers access to major commuter routes and downtown DC.
Key Highlights
- Three‑unit multifamily property with 1,824 square feet
- Each unit includes 1BR/1BA plus an enclosed flex space
- Renovated interiors with modern finishes and new 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
$32,681
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
4.51%
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%
$653,620
$653.6K
Cap Rate 7%
$466,871
$466.9K
Cap Rate 9%
$363,122
$363.1K
Market Conditions
NOI Build-Up for 1,824 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
$49.2K $27.00/SF
− Vacancy
−$2.6K −$1.40/SF
EGI
$46.7K $25.60/SF
− OpEx
−$14.0K −$7.68/SF
NOI
$32.7K $17.92/SF
Area
ZIP 20011
Vacancy
5.20%
Lease Rate
$27.00 /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%
$653,620
Cap Rate 7%
$466,871
Cap Rate 9%
$363,122
Alternative Uses
Best Use
Multifamily LT 5
$466.9K
$408.5K – $544.7K
NOI $32,681 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$414.7K
$362.9K – $483.9K
NOI $29,031 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$941.7K
$824.0K – $1.10M
NOI $65,921 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,623
Businesses Nearby
Explore this area
Business Placement
Demographics for 20011, DC
67,815
Population
29,658
Households
2.3
Avg Household Size
37
Median Age
55%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
12,558
Density / Sq Mi
$108,377
Median Household Income
$69,147
Median Earnings
$1,636
Median Rent
$722,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Updated triplex with enclosed flex spaces, contemporary finishes, and a fenced backyard.
Where is this triplex located?
The property is located at 903 MISSOURI Avenue NW Washington, DC.
What is the asking price?
The asking price for this property is $724,990.
What are key features of this property?
This property features: Three‑unit multifamily property with 1,824 square feet; Each unit includes 1BR/1BA plus an enclosed flex space; Renovated interiors with modern finishes and new appliances
