6 Essential Questions to Ask Before Investing in Dupont Circle Properties

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6 Essential Questions to Ask Before Investing in Dupont Circle Properties 1

DuPont Circle is one of the neighborhoods that anchors the entire District of Columbia. When people think of DC, they think of the National Mall and the international, blended character of DuPont. 

Exploring DuPont, you’ll find a chic menagerie of bistros, boutiques, bars, and museums (plus Embassy Row). It’s known as DC’s cosmopolitan center, the hub of gay life and a cross-section of a small town and a big city, which is why it made our list of best investments on the red line

Thinking of investing in DuPont Circle? Here’s what you need to know before you start looking. 

1. What’s the DuPont Neighborhood? 

6 Essential Questions to Ask Before Investing in Dupont Circle Properties 2

The DuPont Circle neighborhood is the neighborhood built around and named for one of DC’s famous roundabouts. 

The neighborhood is well-known among DC residents for its high concentration of embassies and think tanks, as well as a half-dozen galleries and centers of cultural and intellectual life. 

It’s home to the Phillips Collection, the Johns Hopkins School of Advanced International Studies, the Brookings Institute, the Carnegie Institution for Science, and the National American Jewish Military History Museum, among others. Oh, and don’t forget that vibrant stretch of 17th street famous for gay-owned businesses. 

On the neighborhood level, it’s comprised of four districts: the Dupont Circle Historic District, the Massachusetts Avenue Historic District, the Sixteenth Street Historic District and the Strivers’ Section Historic District. It runs between K Street NW and 15th Street NW, bookended by Rock Creek Parkway and Florida Ave NW. 

2. What’s the History of DuPont Circle?

6 Essential Questions to Ask Before Investing in Dupont Circle Properties 3

DuPont Circle is a beacon of internationalism in a famously international city, bustling at all hours with diplomats, office workers, tourists, and clubbers. It’s one of DC’s signature neighborhoods, with a rich history to boot. 

The neighborhood is named for Civil War hero Samuel Francis Du Pont. Once upon a time, there was a statue of the man himself in the circle, but people didn’t like it very much. 

So, in 1921, Du Pont’s family packed the statue off to Delaware and bankrolled the installation of a fancy fountain to take its place, commissioned by sculptor Daniel Chester French and architect Henry Bacon (yes, those are the same men behind the Lincoln Memorial). 

Before Du Pont was shipped north, in the early 1900s Gilded Age, DuPont Circle was rather less international. What’s now known as Embassy Row had a telling name: Millionaires Row.

That’s because back in the day when people couldn’t crack into the New York social circles, they came to DC to be big fish in a small pond–at that time, DC was still a fledgling industry town that happened to host the nation’s government. 

3. Is Housing in DuPont Circle a Good Investment?

In 2019, DuPont Circle was named one of the 20 hottest neighborhoods to buy a home. That’s due in large part to the quality of the neighborhood and the walkability. 

In DuPont, residents love the fact that you can step out of your front door and get to where you want to go within three to five minutes. And if you need to go further afield, there’s a metro stop smack dab in the middle of the neighborhood on Constitution Avenue. 

That said, DuPont is definitely on the higher end of the housing market, along with Logan Circle and Georgetown. Northwest neighborhoods like DuPont get the most attention and construction, but your rental yields aren’t necessarily the greatest compared with Southeast neighborhoods like Shipley Terrace and Anacostia. 

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4. What’s the Average List Price for a House in the Area?

Once you look at the average home listing price, you can understand why. 

DuPont is a highly competitive housing market, currently weighted in favor of sellers. You need at least $300K to break into the market, though Redfin the average home price is around $465K. Higher-end homes can sell for $1 million or more. 

Then again, that depends a bit on who you’re getting data from. Some place the median asking price at $637K, with townhome averages soaring to $1.7 million and single-family homes priced at an average of $1.39 million. 

And if you think that’s enough to spook other potential buyers, think again. Most homes get multiple offers and go pending in 33 days, usually for 1% below the list price. Hot homes can sell at the list price and go pending in just 10 days. 

It’s worth keeping in mind that DuPont houses offer the feel of a small neighborhood with the walkability and transport access of a major urban center. You can have a backyard and a parking space and still be within minutes of city attractions. 

5. What’s the Average List Price for a Condo in the Area? 

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If you’re just looking for a condo without the added features of a backyard or extra level, your price tag isn’t much more affordable. 

As of this year, the median asking price for condos in DuPont is around $475K, with most homes selling for an average of $415K. 

6. When is the Best Time to Buy?

For house sellers in DC, the busy season is April 1 to April 15, when homes sell six days faster for $3,800 more. 

Even if you’re a buyer, it’s still a good idea to try to move before DC summer arrives. Summertime in the District is notoriously humid, and with schools out and Congress on recess, many homeowners leave in the summer months for a vacation residence. 

Ideally, you should look in the springtime or in the fall, when the weather isn’t bitterly cold and the summer heat and humidity haven’t settled in yet. That said, transplants tend to flood into DC in election seasons prior to November elections, driving up the demand for housing. 

Thinking of Investing in DuPont Circle?

If you’re thinking of investing in DuPont Circle, there’s no better time to hop into one of DC’s hottest neighborhoods. 

Whether you’re looking for a leasing team, a property manager, or a sales representative, we’re proud to offer high-quality real estate services to clients who demand the very best. If you’d like to talk about investing in DuPont, get in touch today to start the conversation. 

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Enhanced Reporting

Your portal includes a selection of extremely useful reports. Reports are available in the “Reports” section, and are distinct from the financial statements. Unlike financial statements which are static records, Reports are dynamic real-time records that will update with current data every time you view them. 

Scroll down to learn more about Reports:

Navigate to the "Reports" module in your portal:

Owner Portal Reports
  • Keep in mind, these reports are dynamic records. They will refresh to display current information every time you view them. 

Enhanced Rent Roll Report:

Enhanced Rent Roll Report
  • The Enhanced Rent Roll Report will show the rent amount, last payment date, move-in date, lease expiration date, and security deposit amount for each of your tenants. 
  • It will also show a portfolio summary with occupancy percentage, vacancy loss, and more!

Unit Comparison Report:

Unit Comparison Report
  • If you own multiple units (or buildings) with Nomadic, you’ll get access to the Unit Comparison Report. 
  • This report enables you to quickly compare financial performance between your units at a glance without toggling between individual reports. 

Income Statement Month-Over-Month:

Income Statement by Month Report
  • The Income Statement Detail – Monthly Report serves as a month-over-month record of portfolio performance. You’ll see itemized income and expense categories and can track monthly. This report will update with fresh data every time you view it. 

Financial Statements

Financial statements will be published to your portal on a monthly basis. The statements are found in your Documents library, and provide a historical record of all financial performance. The statements serve as a snapshot of financial performance over a given period, and are static documents (unlike Reports, the statements do not update/change in real-time). 

Scroll down for more info about the Financial Statements in your Documents library:

The Documents area contains monthly financial statements:

Owner Portal Documents
  • The statements in the Documents are are static documents. They are posted to the portal once a month to serve as a historical record of financial performance. 

Download a statement to see month and YTD financials:

Owner Portal Property Statement

You'll also find a month-over-month operating statement:

Month over Month Statement

Portal Communication Tool

You can use your owner portal to communicate with our team. Any messages you send through the portal will go straight to your Account Manager. When we reply, you’ll get an email notification and you’ll also see the message in your portal next time you log in. 

Here’s an overview of using the communication platform:

Click "Communications" and navigate to "Conversations":

Commincation Dashboard Screenshot
  • The communications module will contain a record of all messages that you create through the portal. 

Click the "New Message" button and send your message:

Owner Portal New Message Screenshot

Responses will show up in the conversation ticket:

Portal Conversation Response Screenshot
  • You’ll get an email notification whenever you get a response, and you’ll also see the message in your portal next time you log in. 

You can reply in-line using the comment box:

Owner Portal Comment

Each conversation will be logged in its entirety:

Portal Conversation Snapshot

Understanding the Ledger

Your portal includes a ledger with all transactions. The ledger is populated with data in real-time as transactions flow through our accounting software. Much of this information is also available in the Reports area, as well as the Statements in your Documents library, but the ledger is the most comprehensive resource for diving into the details. 

Please scroll through the sections below to get a better understanding of how to interpret the ledger. 

By default, transactions are sorted chronologically:

Owner Ledger Dates
  • The date reflected in the lefthand column is the actual transaction date, not the “bill date”. This is the date the transaction was actually processed. 

If you have multiple properties with Nomadic, you'll see the address for each transaction in the "Location" column:

Ledger Property Column
  • You can filter the ledger to look at just one property, all properties, or specific sets of properties. 
  • If you only have one property with us, you’ll just see the ledger for that property. 

The Description column displays the transaction type:

Owner Ledger Description Column
  • BILL: this is an expense transaction, such as for repair costs or management fees.
  • CHARGE: this is a transaction  billed to the tenant, most typically a rent payment. 
  • NACHA EXPORT: this is a credit we processed to your distribution account. This type of transaction is how you get paid! 

The Amount column shows the dollar value of each transaction:

Owner Ledger Amount Column
  • Positive Amounts: if an amount is positive, it reflects a transaction that is payable to you. Typically, this will be a rent payment that we collected from your tenants. On occasion, a positive number could also signify a journal entry or credit adjustment. 
  • Negative Amounts:  if an amount is negative, this is a transaction that is either payable to Nomadic or is an amount that has already been paid to you. Typically this will be for repair costs or management/leasing fees. Owner draws (net distributions into your checking/savings account) also reflect as negative amounts, since they have already been paid to you. 

The Account Balance column shows a sum of positive/negative transactions at a given point in time:

Owner Ledger Account Balance Column
  • Account Balance should always equal zero after a net distribution has been processed. When the balance is zero, this means that all expenses have been paid and you’ve received the remainder as net operating income, leaving a balance of zero (meaning: no one is due any money, as all funds have been distributed appropriately). 

Navigating the Propertyware Owner Portal

Your portal includes some extremely useful features that help you understand your property’s financial performance at a new level, with real-time transparency into every transaction.

Scroll through the snapshots below for an overview of portal navigation! If you need more help or have specific questions about using the portal, you can reach out to your Account Manager any time for a screen share. 

You can filter all info by date range or property:

PW Portal Filters

View a snapshot of income and expenses on your dashboard:

PW Owner Dashboard View

See every transaction in real-time on your ledger:

Owner Portal Ledger View

Statements and forms will be posted to your documents library:

Owner Portal Document Library

View a suite of real-time financial reports:

Portal Reports View

See a running list of all bills, and drill down for more detail:

Owner Portal Bills View

Under Bill Details, you'll find dates/descriptions/amounts and more:

Portal Bill Details

You can also communicate with your Account Manager through the portal:

Owner Portal Communication Tools

How do net distributions work?

Net distributions keep your accounting clean and simple. Each month we’ll collect rent from the tenants, deduct any repair expenses for the previous month and any management/leasing fees for the current month, and credit the remaining net operating income to your account. 

Net Distribution

You’ll receive a statement via email each time a net distribution is processed, and can view all transaction details in your Propertyware owner portal.