732 51st St NE · Washington, DC 20019

$295,000

6 bd · 3.0 ba · 2,223 sqft · MultiFamily public records · 18 Days on market

Built 1955 2,300 sqft lot Est $589k · 50% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Building has CoO and is fully boarded up. Access only for serious buyers.

Key facts

• 2,300 sq ft lot
• Built 1955
• Listed 17 days

Property features AI

Finance

• Financial info: Fee simple ownership; Major rehabilitation needed; Estimated year built; Estimated above-grade finished area of 2,000; Land and improvement assessed values reported (historic assessment data available)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Multi-unit property with 3 total units; Brick construction
• Construction: Brick construction materials; Above-grade other structures
• Exterior features: No tidal water on the property

Interior

• Interior features: Estimated living area

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $770 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $295k).
• Recommended offer: $291k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 2.5% in Washington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#1 in DC) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• District Of Columbia Public Schools (urban): math 33% / reading 40% proficiency, ranked #8 of 32 in DC (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.1%/yr); 276 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).
• At $4,515/mo this rent would consume 93% of the median local household income ($58k/yr) (locally 5115% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• District of Columbia County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $83k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y ago; this cycle's ask is 97% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $98k; list at $295k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $427/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,575 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.38%
• DSCR: 1.77
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $589,095
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 59th Pl	0.68mi	6/—	2,214 (-0%)	12mo	$535,000	$242	58
4500 Hunt Pl NE	0.52mi	6/4.0	2,524 (+14%)	18mo	$669,500	$265	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.06% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.19×
• Total profit: $16,073
• Equity at exit: $43,985

10-year hold

• IRR: 17.6%
• Equity multiple: 2.72×
• Total profit: $141,885
• Equity at exit: $25,506

Cash invested: $82,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State District of Columbia: 12 Strongly Tenant-Friendly · D+43
• County: — inherits STATE
• City Washington: 0 Strongly Tenant-Friendly · D+43

Rent Stabilization Program; TOPA gives tenants right of first refusal.

Methodology + full state rankings →

ZIP-level market 20019

• Rents YoY: 6.1%
• Active inventory: 276
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $4,515 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$701 /mo · $8,410/yr
• Insurance: −$123
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$948
• Net cashflow: $770

Break-even live

Break-even rent $3,541

Max offer price $295,000

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$4,514
Total (2 units)			$4,515

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5333 Hayes St NE Washington, DC	5.0	2.5	2500	$7,000	$2.80	24d	1	0.23mi
574 49th Pl NE Unit Upper Washington, DC	5.0	2.0	1744	$6,500	$3.73	20d	1	0.24mi
520 56th St NE Washington, DC	5.0	2.0	1670	$5,500	$3.29	24d	1	0.43mi
4262 Clay St NE Washington, DC	5.0	2.0	3000	$7,400	$2.47	14d	1	0.70mi
6005 Eads St NE Apt 1 Washington, DC	5.0	3.0	1750	$6,100	$3.49	24d	1	0.77mi
5005 Call Pl SE Unit 9 Washington, DC	5.0	2.0	1800	$6,000	$3.33	24d	1	1.01mi
1604 Woodhill Ct Hyattsville, MD	6.0	3.0	1455	$3,600	$2.47	43d	1	1.02mi

Listing history 34 events

1. 2026-06-18
   days on market $295,000 Active 18 DOM
2. 2026-06-17
   days on market $295,000 Active 17 DOM
3. 2026-06-16
   days on market $295,000 Active 16 DOM
4. 2026-06-15
   days on market $295,000 Active 15 DOM
5. 2026-06-13
   days on market $295,000 Active 13 DOM
6. 2026-06-09
   days on market $295,000 Active 9 DOM
7. 2026-06-08
   days on market $295,000 Active 8 DOM
8. 2026-06-07
   days on market $295,000 Active 7 DOM
9. 2026-06-04
   days on market $295,000 Active 4 DOM
10. 2026-06-03
    days on market $295,000 Active 3 DOM
11. 2026-06-02
    days on market $295,000 Active 2 DOM
12. 2026-06-01
    statusdays on market $295,000 Active 1 DOM
13. 2026-05-31
    days on market $295,000 Coming Soon 62 DOM
14. 2026-03-30
    historical $295,000
15. 2009-09-27
    historical
16. 2009-09-27
    historical
17. 2009-01-07
    listed
18. 2009-01-07
    listed $150,000
19. 2009-01-02
    historical
20. 2007-12-06
    listed
21. 2007-03-08
    historical
22. 2007-02-23
    listed
23. 2004-10-01
    soldstatus $97,500
24. 2004-09-21
    soldstatus $97,500
25. 2004-09-17
    historical
26. 2004-08-12
    listed $105,000
27. 2004-07-29
    historical
28. 2004-06-09
    listed
29. 2004-05-27
    soldstatus $60,000
30. 2004-05-18
    soldstatus $60,000
31. 2004-04-03
    historical
32. 2004-03-31
    listed $59,900
33. 2004-03-22
    historical
34. 2003-11-25
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast DC · Partial reset (capped growth)

• Current annual tax: $8,410 · $701/mo
• Projected year-2 tax: $8,410 · $701/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,180
• − Mortgage interest: −$16,525
• − Property taxes: −$8,410
• − Insurance: −$6,594
• − Repairs & maintenance: −$4,334
• − Management: −$4,334
• − Depreciation: −$8,582
• Taxable income: $5,402
• Est. tax owed @ 24.0%: −$1,296
• After-tax cash flow: $7,938/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: District Of Columbia Public Schools
• NCES district ID: 1100030
• Math proficiency: 33% ▲ 3.00%
• Reading proficiency: 40% ▲ 5.00%
• Median HH income: $67,671
• Composite: 35.84/100
• National rank: #9606
• State rank: #8 of 32 in DC

Livability — Washington

• Score: 73/100
• State rank: #1
• US rank: #5327

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing C Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, DC
• County: District of Columbia · 671,873 people
• City population: 671,873
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 63,380
• Household income: $58,296
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 5115.0

Population outlook (District of Columbia County) Hauer SSP2

• Today (2025): 821,926 people
• By 2030: 899,517 · +9.4%
• By 2040: 1,061,162 · +29.1%
• By 2050: 1,231,493 · +49.8%
• By 2075: 1,603,312 · +95.1%
• By 2100: 1,847,141 · +124.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (87%)
• Race & ethnicity: Black 87% Hispanic / Latino 7% Two or more races 4% White 2%
• Hispanic origin (detail): Mexican 1% Dominican 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · District of Columbia

• 2024 margin: Solid D (+86.1) · D 91.2% · R 5.1% · Other 3.8%
• 2008→2024 swing: +0.1pp no change · 2008: 85.9pp · 2024: 86.1pp
• All cycles: 2024: D+86.1 2020: D+86.8 2016: D+88.7 2012: D+84.2 2008: D+85.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -416.91%
• Current HPI: 326.4481
• Rent YoY: ▲ 6.06%
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• State GDP YoY: ▲ 1.33%
• F500 in state: 6

Industry mix (Fortune 500 HQ in DC)

Industry	F500 HQs	Revenue
▸Financial Services	1	$153B
▸Life Sciences / Industrials	1	$25B
▸Industrial Machinery	1	$8B

Price history

+392.5% since first listed

21 events — show timeline

• 2026-03-30 Coming Soon $295,000 BRIGHT MLS
• 2009-09-27 Delisted — MRIS
• 2009-09-27 Listing Removed — BRIGHT MLS
• 2009-01-07 Listed — MRIS
• 2009-01-07 Listed $150,000 BRIGHT MLS
• 2009-01-02 Delisted — MRIS
• 2007-12-06 Listed — MRIS
• 2007-03-08 Delisted — MRIS
• 2007-02-23 Listed — MRIS
• 2004-10-01 Sold (Public Records) $97,500 Public Records
• 2004-09-21 Sold (MLS) $97,500 MRIS
• 2004-09-17 Delisted — MRIS
• 2004-08-12 Listed $105,000 MRIS
• 2004-07-29 Delisted — MRIS
• 2004-06-09 Listed — MRIS
• 2004-05-27 Sold (Public Records) $60,000 Public Records
• 2004-05-18 Sold (MLS) $60,000 MRIS
• 2004-04-03 Delisted — MRIS
• 2004-03-31 Listed $59,900 MRIS
• 2004-03-22 Delisted — MRIS
• 2003-11-25 Listed — MRIS

Property tax history

-5.3%/yr

Latest (2025): $8,410 · -40.1% YoY. Source: county tax records.