Two-Bedroom Residential Income
For Sale
$450,000
911 12TH STREET NE Unit 2, Washington, DC 20002
Contemporary condominium residence with open living space, in-unit laundry, modern finishes, and deeded off-street parking.
Property Size775 SF
Days on Market8
Property Features for 911 12TH STREET NE Unit 2
General Information
Standard status
Active
Size
775 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,508
Amenities
in-unit laundry
Building Details
Building Size
775 SF
Year Built
2016
Listing Agency:
Redfin Corp
Listed By:
Valeriia Solodka · License #SP98378432
(202) 431-3412
Source:
Kwcapitalproperties
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 14 at 8:48AM
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 Redfin Corp
Investment Insights
Based on property information with market context.
This residential income property is a condominium residence completed in 2016, offering a two-bedroom, two-bath layout with an open connection between the living and dining areas. The interior combines high ceilings, hardwood flooring, recessed lighting, and substantial natural light. Its kitchen includes upgraded countertops, sleek cabinetry, a tile backsplash, and stainless steel appliances. A walk-in closet serves the primary bedroom, while additional storage and in-unit laundry support daily convenience. A separately deeded off-street parking space is included and positioned directly outside the back door.
The residence is located just off the H Street Corridor, with NoMa and Union Market nearby. Whole Foods and Trader Joes are within close proximity, and Union Market provides dining, specialty retail, and gathering spaces. Union Station, Capital Bikeshare, and the Metropolitan Branch Trail are also accessible from the property.
The residence is located just off the H Street Corridor, with NoMa and Union Market nearby. Whole Foods and Trader Joes are within close proximity, and Union Market provides dining, specialty retail, and gathering spaces. Union Station, Capital Bikeshare, and the Metropolitan Branch Trail are also accessible from the property.
Key Highlights
- Two‑bedroom, two‑bath condominium residence completed in 2016
- Separately deeded off‑street parking space included with the sale
- Open living and dining area with high ceilings and hardwood floors
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
$13,194
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
2.93%
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%
$263,880
$263.9K
Cap Rate 7%
$188,486
$188.5K
Cap Rate 9%
$146,600
$146.6K
Market Conditions
NOI Build-Up for 775 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
$25.6K $33.00/SF
− Vacancy
−$1.6K −$2.05/SF
EGI
$24.0K $30.95/SF
− OpEx
−$10.8K −$13.93/SF
NOI
$13.2K $17.02/SF
Area
ZIP 20002
Vacancy
6.20%
Lease Rate
$33.00 /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%
$263,880
Cap Rate 7%
$188,486
Cap Rate 9%
$146,600
Alternative Uses
Best Use
Apartment 5plus
$188.5K
$164.9K – $219.9K
NOI $13,194 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$400.1K
$350.1K – $466.8K
NOI $28,009 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,816
Businesses Nearby
Explore this area
Business Placement
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary condominium residence with open living space, in-unit laundry, modern finishes, and deeded off-street parking.
Where is this residential income property located?
The property is located at 911 12TH STREET NE Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium residence completed in 2016; Separately deeded off‑street parking space included with the sale; Open living and dining area with high ceilings and hardwood floors
