Keen Investing: Apartments in Dupont Circle

Table of Contents

Key Takeaways 

Investing in Dupont Circle comes with many benefits, including the following:

  • A welcoming community for people of diverse sexuality and gender identities
  • International flair 
  • An active art scene 
  • Access to the Dupont Circle Fountain 

Charles L’Enfant originally designed Dupont Circle to be a traffic circle, and in 1871 the U.S. Army Corps of Engineers put his plan into action by constructing the area. The U.S. Congress, on the other hand, decided to rename the circle in honor of Rear Admiral Samuel Du Pont, who had served the U.S. Navy with distinction throughout both the Mexican-American War and the Civil War. Samuel Du Pont was killed in action during the Civil War. He was a member of the illustrious Du Pont family, which was prominent throughout the Industrial Revolution era.

The National Mall and the Smithsonian museums are within walking distance of the Dupont Circle neighborhood, which is only a few blocks away. However, once you leave the hustle and bustle of tourists and those doing business with the federal government, you will feel like you’ve entered a new world. Many natives of the area consider Dupont Circle an exceptional choice of location to call home.

In addition to providing easy access to jobs in downtown D.C., it maintains a clear separation between the workplace and residential life. The swarms of tourists, on the other hand, begin to thin out somewhat here, making way for a neighborhood that is diverse and bustling with activity. There is a strong feeling of belonging to the community. Also, residents have a wide variety of options to experience the local culture and make the most of their spare time.

Apartments in Dupont Circle, D.C.

The Dupont Apartments provide the lifestyle you choose and the location you require. The apartments offer wood floors, high ceilings, and expansive floor designs in a building with restricted access. They offer the finest micro-units and one-bedroom floor plans in Washington, D.C. The neighborhood has convenient access to transportation and restaurant options; it’s also a short commute to several of Washington, D.C.’s top attractions. The Dupont Circle Apartments feature both traditional and contemporary amenities. Living at the Dupont Apartments entails receiving superior service.

Benefits of Investing in Dupont Circle Apartments

There are many reasons to consider investing in Dupont Circle. Here are a few benefits that come with investing in this neighborhood:

Active Art Scene

Art enthusiasts appreciate visiting galleries at Dupont Circle. The Phillips Collection is renowned for being the first contemporary art museum to open in the United States. Visitors can examine the artwork, interact with artists, and attend concerts and talks. Renoir, O’Keefe, van Gogh, and Rothko are a few of the prominent artists permanently exhibited.

Special shows change frequently, so art enthusiasts repeatedly return to explore what’s fresh in the art world. If you love art, you will enjoy your stay in the neighborhood. You can also buy an apartment in Dupont Circle and sell it to people who enjoy art. 

Low-Maintenance Lifestyle

You will have a hard time locating a single-family home separate from any other structures. But that’s a good thing, given the circumstances. Residents of D.C. who do not have to spend their Saturdays cutting the lawn now have more time to take advantage of everything the District of Columbia offers.

Lofts, townhomes, row houses, and condominium apartments make up the residential options here. These venerable brick structures have been meticulously renovated and brought up to date over time. The final product is a combination of old-world allure and contemporary living standards.

Therefore, although the homes are ancient and appear dated from the outside, you will be pleasantly surprised once you’ve entered several of them and witnessed the changes that have been made.

International Flair

Washington, D.C.’s illustrious Embassy Row is in Dupont Circle. From Dupont Circle along Massachusetts Avenue Northwest, you may visit embassies from all over the world.

At each embassy, foreign representatives advocate for their country and its citizens living in the United States. The local food has picked up some international flavor from the surrounding cultures. A wide variety of international cuisines may be found on the menus of restaurants in and surrounding Dupont Circle. 

The Dupont Circle Fountain

The Dupont Circle Fountain is the focal feature of this neighborhood and a convenient landmark for those giving directions. People from all around come to the green area surrounding the fountain to read, relax, have picnics, and make wishes. Everybody is accepted here. Locals are known to go out of their way to help visitors discover the best of D.C.’s lesser-known attractions.

Common Pitfalls for Buying Apartments in Dupont Circle, D.C. 

While buying a home in the Dupont Circle neighborhood has many benefits, you could still experience a few problems. Here are a few pitfalls associated with buying apartments in the area:

  • Wrong timing when buying a home (the best time to buy in the neighborhood is in April)
  • Renting a home when the best option might be buying
  • Problems with the removal company 
  • Issues getting a mortgage 
  • Difficulty finding the most suitable property 

How Much Do Houses Cost in Dupont Circle, D.C.?

The price for houses in this neighborhood varies from one apartment to another. If you plan to buy a condo, you can expect a median price of $475,000. Most condos sell for an average price of $415,000, though. You can expect to pay up to $1.7 million for a single-family townhouse. Most homes receive multiple offers.

Are you unsure what to consider when buying a home in Dupont Circle or wonder if it is worth it? Get your questions answered by contacting a professional at Nomadic Real Estate to help you out. 

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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:

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

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:

  • 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:

  • 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:

  • 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:

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

  • 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:

Responses will show up in the conversation ticket:

  • 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:

Each conversation will be logged in its entirety:

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:

  • 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:

  • 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:

  • 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:

  • 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:

  • 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:

View a snapshot of income and expenses on your dashboard:

See every transaction in real-time on your ledger:

Statements and forms will be posted to your documents library:

View a suite of real-time financial reports:

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

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

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

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. 

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.