Two-Unit Residential
New
For Sale
$1,849,000
915 3RD Street NE, Washington, DC 20002
Multi-Family, WASHINGTON, DC
Property Size2,774 SF
Lot Size0.03 Acres
Price / SF$666.55
Days on Market2
Property Features for 915 3RD Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement, Dining Room
Parking
3
Parking features
Driveway, Assigned, Parking Lot
Interior features
Combination Kitchen/Dining, Entry Level Bedroom, Floor Plan - Open, Primary Bath(s), Upgraded Countertops, Wood Floors
Appliances
Dishwasher, Disposal, Dryer - Front Loading, Microwave, Refrigerator, Stove, Washer - Front Loading
Subdivision
NOMA
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
2,774 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
12736
Utilities
Heating system
Forced Air, Central
Cooling system
Central Air
Amenities
balcony
rooftop terrace
wet bar
Building Details
Year built
2014
Number of units
2
Building materials
Brick
Architectural style
Contemporary
Listing Agency:
Northgate Realty, LLC
(301) 263-6307
Listed By:
Angela M Goldstein · License #SP98373183
(202) 438-7910
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 4:06PM
MLS# DCDC2281124
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 contemporary duplex, completed in 2014, combines two residences totaling 2,774 square feet. The upper home spans three levels with 3 bedrooms, 3.5 baths, open living and dining areas, wood flooring, granite countertops, Viking appliances, a primary suite, family room, wet bar, powder room, balcony, and two private rooftop decks. The second residence contains 2 bedrooms and 3 full baths across two levels, with its own exterior entrance and two en-suite bedrooms on the lower level.
The property conveys with two separately deeded parking spaces. Located near Washington’s H Street Corridor, NoMa, Union Market, and Union Station, it also offers access to restaurants, cafes, shopping, nightlife, and transit options including NoMa-Gallaudet U Metro. The four associated tax IDs represent the two residential units and the parking spaces.
The property conveys with two separately deeded parking spaces. Located near Washington’s H Street Corridor, NoMa, Union Market, and Union Station, it also offers access to restaurants, cafes, shopping, nightlife, and transit options including NoMa-Gallaudet U Metro. The four associated tax IDs represent the two residential units and the parking spaces.
Key Highlights
- Two residences totaling 2,774 square feet
- Penthouse residence with 3 bedrooms and 3.5 baths
- Second unit includes 2 bedrooms and 3 full baths
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
$52,848
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
2.86%
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%
$1,056,960
$1.1M
Cap Rate 7%
$754,971
$755.0K
Cap Rate 9%
$587,200
$587.2K
Market Conditions
NOI Build-Up for 2,774 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
$79.9K $28.80/SF
− Vacancy
−$4.4K −$1.58/SF
EGI
$75.5K $27.22/SF
− OpEx
−$22.6K −$8.16/SF
NOI
$52.8K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /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%
$1,056,960
Cap Rate 7%
$754,971
Cap Rate 9%
$587,200
Alternative Uses
Best Use
Multifamily LT 5
$755.0K
$660.6K – $880.8K
NOI $52,848 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$674.7K
$590.3K – $787.1K
NOI $47,227 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,255 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,792
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Contemporary duplex with a penthouse, second residence, private rooftop decks, and two deeded parking spaces.
Where is this duplex located?
The property is located at 915 3RD Street NE Washington, DC.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: Two residences totaling 2,774 square feet; Penthouse residence with 3 bedrooms and 3.5 baths; Second unit includes 2 bedrooms and 3 full baths
