Upper-Floor Residential Income
For Sale
$350,000
919 12TH STREET NE Unit 404, Washington, DC 20002
Corner unit offers oversized windows, stainless steel appliances, modern bathroom finishes, and in-unit laundry.
Property Size705 SF
Days on Market139
Property Features for 919 12TH STREET NE Unit 404
General Information
Standard status
Active
Size
705 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,728
Building Details
Building Size
705 SF
Year Built
2022
Listing Agency:
EXP Realty, LLC
(703) 609-5183
Listed By:
Keri K. Shull · License #BR98376664
(703) 609-5183
Source:
Kwcapitalproperties
Added: Apr 8
Changed: Aug 23
Last Checked: Aug 24 at 3:09PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
Unit 404 is an upper-floor corner residence in a condominium property built in 2022. Oversized windows bring substantial natural light into the space, while the kitchen is equipped with GE stainless steel appliances and contemporary finishes. The bathrooms feature modern finishes, and laundry is located within the unit.
The property is located near Union Market and the H St. Corridor, with nearby dining, entertainment, and grocery options including Whole Foods and Giant. Public transportation access includes the H St. trolley and multiple bus routes serving the area.
The property is located near Union Market and the H St. Corridor, with nearby dining, entertainment, and grocery options including Whole Foods and Giant. Public transportation access includes the H St. trolley and multiple bus routes serving the area.
Key Highlights
- Upper‑floor corner unit with oversized windows
- Built in 2022
- GE stainless steel appliances in the kitchen
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
$12,002
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
3.43%
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%
$240,040
$240.0K
Cap Rate 7%
$171,457
$171.5K
Cap Rate 9%
$133,356
$133.4K
Market Conditions
NOI Build-Up for 705 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
$23.3K $33.00/SF
− Vacancy
−$1.4K −$2.05/SF
EGI
$21.8K $30.95/SF
− OpEx
−$9.8K −$13.93/SF
NOI
$12.0K $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%
$240,040
Cap Rate 7%
$171,457
Cap Rate 9%
$133,356
Alternative Uses
Best Use
Apartment 5plus
$171.5K
$150.0K – $200.0K
NOI $12,002 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$364.0K
$318.5K – $424.7K
NOI $25,479 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner unit offers oversized windows, stainless steel appliances, modern bathroom finishes, and in-unit laundry.
Where is this residential income property located?
The property is located at 919 12TH STREET NE Unit 404 Washington, DC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Upper‑floor corner unit with oversized windows; Built in 2022; GE stainless steel appliances in the kitchen
