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Map
2432 4TH STREET NE
About This Property
Bring your vision, your contractor, and your imagination! This is a true fixer-upper with serious upside potential in a location where opportunities like this are increasingly hard to find.
Unlike the many townhomes surrounding it, this property is a single-family home sitting on a generous DOUBLE LOT - giving an investor, builder, or visionary homeowner significantly more possibilities to explore.
The house offers solid bones and a classic layout, making it an ideal blank canvas for a full renovation, strategic flip, or long-term investment. Reconfigure the existing space, expand the footprint, modernize the interior, or explore a potential two-unit condo conversion (buyer to independently verify zoning, feasibility, and all applicable requirements). The potential for approximately 3,000 square feet per unitmakes this an especially intriguing opportunity for the right buyer.
WHY THIS PROPERTY STANDS OUT: FIXER-UPPER - priced for the buyer who can see the potential *** DOUBLE LOT - a rare and valuable feature in this neighborhood *** Single-family home in an area dominated by attached townhomes *** Excellent opportunity for a renovation, flip, development, or long-term hold *** Potential for expansion, outdoor living, off-street parking, or additional square footage - buyer to verify *** Strong appeal for both investors and owner-occupants seeking a unique DC property *** Convenient access to Brookland, Rhode Island Avenue, Metro, dining, entertainment, and major commuter routes; and the location is hard to beat. The property is approximately a 13-minute walk to the Rhode Island Ave–Brentwood Metro Station on the Red Line and just steps from Alamo Drafthouse, Kraken Kourts & Skates, Bryant Street Market, the Metropolitan Branch Trail, Trinity Washington University, Catholic University of America, and much more.
This isn't a turnkey house - and that's the opportunity.
If you're looking for a property where you can create value rather than simply pay for someone else's renovations, this one deserves a serious look. The combination of a single-family home, double lot, desirable DC location, and substantial renovation potential creates a compelling opportunity for the buyer with the vision and resources to unlock its value.
Sold strictly AS-IS. Bring your contractor, architect, builder, or investor mindset and explore what this property could become.
Rare lot. Rare property type. Significant potential
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 2, 2026 | Sold | ||
| Sold | |||
| Aug 29, 2026 | In contract | - | |
| In contract | |||
| Jun 12, 2026 | Price Decreased |
$499,000
↓ $51K
(9.3%) | |
| Price Decreased | |||
| May 19, 2026 | Price Decreased |
$550,000
↓ $50K
(8.3%) | |
| Price Decreased | |||
| Mar 25, 2026 | Listed by Spring Hill Real Estate, LLC. | $600,000 | |
| Listed by Spring Hill Real Estate, LLC. | |||
Property Highlights
Building Info
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Status
Price/ft²
Listed On
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About Northeast Washington
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017