1851 NE Kendall St NE · Washington, DC 20002

$889,000

4 bd · 4.0 ba · 2,138 sqft · MultiFamily public records · 447 Days on market

Built 1942 3,600 sqft lot Est $712k · 25% over

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Why this score? — see what drove the C+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

PRICE REDUCED bring all offers Calling all Investors/Developers!! This is a 4 unit building with one unit vacant, Shows well, building , with all the attractive development, eateries, City Winery and nightlife all within walking distance.

Key facts

• 4 unit building
• One unit vacant
• 3,600 sq ft lot

Tags

• 4 UNIT BUILDING
• ONE UNIT VACANT
• ATTRACTIVE DEVELOPMENT

Property features AI

Finance

• Other: Total of 4 units in the building; Assessor lists above-grade finished area; Property has both above-grade and below-grade structures noted
• Financial info: Some units are leased (3 of 4 units leased); All units listed as month-to-month; Rent control: no
• HOA & community: Information not provided

Exterior

• Parking: On-street parking
• Security: Information not provided
• Utilities: Public water; Public sewer; Natural gas available; Natural gas hot water; Phone service
• Home design: Semi-detached structure; Two levels; Property condition listed as very good; Fee simple ownership
• Construction: Brick construction; Composite roof; Foundation described as other; Built year source: assessor
• Exterior features: Road surface: approved blacktop; In city limits

Interior

• Kitchen: Information not provided
• Bedrooms: Four 1-bedroom units and four single-room units (multi-unit property)
• Flooring: Information not provided
• Bathrooms: Information not provided
• Heating & cooling: Hot water heating; Electric heating fuel; Electric cooling fuel
• Interior features: No basement; Assessor indicates finished above-grade area
• Laundry & utility: Month-to-month leases for units (some units occupied)

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $889k.

Deal economics

• At list price, monthly cash flow is $8k ($96k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $889k).
• Recommended offer: $782k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.2% 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 falling (-3.0%/yr); 548 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).
• At $17,063/mo this rent would consume 170% of the median local household income ($120k/yr) (locally 3854% 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 $6k of loan paydown is wiped out by about $27k 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 + 0.0% rent growth), your $249k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 447 days — a 12% lower offer ($782k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y ago; this cycle's ask is 889% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $68k; list at $889k implies a 1207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $782,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 447 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.92% ✓
• Cap rate: 17.17%
• Cash-on-cash: 38.86%
• DSCR: 2.73
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $711,954
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1308 Gallaudet St NE	0.08mi	4/—	2,376 (+11%)	8mo	$770,000	$324	71
1906 West Virginia Ave NE	0.11mi	4/4.0	2,024 (-5%)	22mo	$475,000	$235	67
1103 Florida Ave NE	0.70mi	4/—	2,288 (+7%)	0mo	$765,000	$334	55
1114 Florida Ave NE	0.67mi	4/3.0	2,040 (-5%)	7mo	$690,000	$338	51
1520-1524 Queen St NE	0.58mi	4/—	2,442 (+14%)	11mo	$814,000	$333	40

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 31.4%
• Equity multiple: 2.27×
• Total profit: $315,018
• Equity at exit: $132,553

10-year hold

• IRR: 36.9%
• Equity multiple: 3.96×
• Total profit: $736,174
• Equity at exit: $76,864

Cash invested: $248,920 (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 20002

• Rents YoY: -3.0%
• Active inventory: 548
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $17,063 high
• Mortgage (P&I): −$4,662
• Tax from tax record: −$386 /mo · $4,627/yr
• Insurance: −$370
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,583
• Net cashflow: $7,995

Break-even live

Break-even rent $6,942

Max offer price $889,000

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$17,064
Total (4 units)			$17,063

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: $222,250
• Closing costs: $26,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1495 Gallaudet St NE Unit 1495B Washington, DC	3.0	2.5	1586	$4,141	$2.61	24d	1	0.08mi
1916 W Virginia Ave NE Unit 2 Washington, DC	3.0	2.0	1800	$2,900	$1.61	20d	1	0.08mi
1714 Montello Ave NE Washington, DC	4.0	3.0	2100	$4,350	$2.07	24d	1	0.18mi
1255 Raum St NE Unit 1388282P Washington, DC	2.0–8.0	1.0–5.0	3245	$6,967	$2.15	1d	2	0.29mi
1638 Trinidad Ave NE #1 Washington, DC	3.0	2.5	1780	$5,950	$3.34	18d	1	0.36mi
1222 Owen Pl NE Washington, DC	4.0	2.5	2164	$3,800	$1.76	24d	1	0.43mi
1417 Montello Ave NE Washington, DC	3.0	2.5	1412	$4,995	$3.54	24d	1	0.44mi
1157 Oates St NE Unit 1A Washington, DC	3.0	3.0	1400	$4,000	$2.86	24d	1	0.47mi
1331 Queen St NE Washington, DC	3.0	2.0	1708	$4,600	$2.69	17d	1	0.49mi
1331 Queen St NE Washington, DC	3.0	2.0	1708	$4,600	$2.69	15d	1	0.49mi
1334 Downing St NE Washington, DC	3.0	1.0	1408	$3,000	$2.13	24d	1	0.58mi
2218 16th St NE Washington, DC	4.0	2.5	1496	$3,400	$2.27	18d	1	0.59mi
1609 Levis St NE Washington, DC	4.0	4.5	2295	$3,900	$1.70	24d	1	0.60mi
1232 Trinidad Ave NE Unit 1 Washington, DC	3.0	2.5	1478	$4,000	$2.71	24d	1	0.61mi
1169 Morse St NE Washington, DC	3.0	3.0	2274	$4,250	$1.87	4d	1	0.61mi
1640 L St NE Washington, DC	3.0	2.0	2300	$3,700	$1.61	18d	1	0.64mi
1117 Montello Ave NE Washington, DC	4.0	3.5	2260	$4,500	$1.99	24d	1	0.64mi
1417 Downing St NE Washington, DC	4.0	2.0	1538	$4,200	$2.73	4d	1	0.67mi
1103 9th St NE Unit 1 DOWNSTAIRS Washington, DC	3.0	3.5	1500	$3,549	$2.37	24d	1	0.68mi
2300 18th St NE #2300 Washington, DC	4.0	3.0	1826	$4,500	$2.46	22d	1	0.69mi
1704 Montana Ave NE Washington, DC	4.0	2.0	1518	$4,000	$2.64	24d	1	0.69mi
1213 Holbrook St NE #1 Washington, DC	3.0	2.5	1618	$3,850	$2.38	18d	1	0.72mi
2413 14th St NE Washington, DC	1.0–5.0	1.0–2.0	1121	$2,821	$2.52	3d	46	0.74mi
300 Neal Pl NE Washington, DC	4.0	1.0–4.0	951	$6,363	$6.69	1d	10	0.76mi
1006 18th St NE Washington, DC	3.0	2.5	1684	$3,095	$1.84	24d	1	0.76mi
1011 8th St NE Washington, DC	3.0	2.5	1672	$4,495	$2.69	24d	1	0.76mi
1321 I St NE Washington, DC	4.0	3.5	1809	$4,600	$2.54	24d	1	0.76mi
1241 I St NE Washington, DC	3.0	2.5	1402	$4,000	$2.85	24d	1	0.77mi
1209 6th St NE Unit A Washington, DC	4.0	1.5	1648	$3,400	$2.06	24d	1	0.78mi
1113 I St NE Washington, DC	3.0	1.0	1800	$3,325	$1.85	24d	1	0.80mi
1324 H St NE Unit 2 Washington, DC	4.0	1.5	2100	$4,000	$1.90	24d	1	0.80mi
1280 Union St NE Washington, DC	1.0–3.0	1.0–3.0	1122	$8,925	$7.95	1d	22	0.81mi
1501 Harry Thomas Way NE Washington, DC	3.0	1.0–3.0	1220	$5,655	$4.64	2d	26	0.84mi
721 K St NE Washington, DC	3.0	1.0	1832	$4,500	$2.46	24d	1	0.84mi
2129 4th St NE Washington, DC	4.0	3.5	2052	$4,400	$2.14	24d	1	0.90mi
2104 4th St NE #1 Washington, DC	4.0	3.5	2165	$6,150	$2.84	24d	1	0.91mi
1417 G St NE Washington, DC	3.0	2.0	1982	$3,700	$1.87	18d	1	0.92mi
847 20th St NE Washington, DC	4.0	2.5	1802	$4,100	$2.28	12d	1	0.94mi
847 20th St NE Washington, DC	3.0	2.5	1802	$4,100	$2.28	15d	1	0.94mi
301 V St NE Washington, DC	4.0	3.5	3000	$5,650	$1.88	19d	1	0.95mi

Listing history 34 events

1. 2026-06-18
   days on market $889,000 Active 447 DOM
2. 2026-06-17
   days on market $889,000 Active 446 DOM
3. 2026-06-16
   days on market $889,000 Active 445 DOM
4. 2026-06-15
   days on market $889,000 Active 444 DOM
5. 2026-06-13
   days on market $889,000 Active 442 DOM
6. 2026-06-09
   days on market $889,000 Active 438 DOM
7. 2026-06-08
   days on market $889,000 Active 437 DOM
8. 2026-06-07
   days on market $889,000 Active 436 DOM
9. 2026-06-04
   days on market $889,000 Active 433 DOM
10. 2026-06-03
    days on market $889,000 Active 432 DOM
11. 2026-06-02
    days on market $889,000 Active 431 DOM
12. 2026-06-01
    days on market $889,000 Active 430 DOM
13. 2026-05-31
    days on market $889,000 Active 429 DOM
14. 2025-03-29
    price $889,000
15. 2025-03-28
    listed $89,900 Active
16. 2024-01-24
    historical
17. 2023-10-17
    status Active
18. 2023-10-17
    historical
19. 2023-01-24
    listed $899,900 Active
20. 2023-01-08
    listed $899,900 Active
21. 2023-01-08
    historical
22. 2022-11-10
    historical
23. 2022-10-12
    price $895,000
24. 2022-09-25
    status Active
25. 2022-09-10
    historical
26. 2022-08-13
    price $949,000
27. 2021-12-10
    listed $1,200,000 Active
28. 2020-07-27
    historical
29. 2020-01-24
    price $799,000
30. 2019-12-16
    price $899,500
31. 2019-11-13
    price $900,500
32. 2019-08-06
    price $1,200,000
33. 2019-08-01
    listed $900,000 Active
34. 1987-01-02
    soldstatus $68,000

ⓘ 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: $4,627 · $386/mo
• Projected year-2 tax: $5,025 · $419/mo
• Expected delta: +$398/yr (+$33/mo · 8.6%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $204,756
• − Mortgage interest: −$49,798
• − Property taxes: −$4,627
• − Insurance: −$5,242
• − Repairs & maintenance: −$16,380
• − Management: −$16,380
• − Depreciation: −$25,862
• Taxable income: $86,466
• Est. tax owed @ 24.0%: −$20,752
• After-tax cash flow: $75,192/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): 72,397
• Household income: $120,337
• Rent vs Own: 61.7% rent · 38.3% own
• Severe rent burden: 3854.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 41% Black 40% Two or more races 9% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 5% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -852.61%
• Current HPI: 396.6033
• Rent YoY: ▼ -3.04%
• 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

+1207.4% since first listed

21 events — show timeline

• 2025-03-29 Price Changed $889,000 BRIGHT MLS
• 2025-03-28 Listed $89,900 BRIGHT MLS
• 2024-01-24 Listing Removed — BRIGHT MLS
• 2023-10-17 Relisted — BRIGHT MLS
• 2023-10-17 Listing Removed — BRIGHT MLS
• 2023-01-24 Listed $899,900 BRIGHT MLS
• 2023-01-08 Listing Removed — BRIGHT MLS
• 2023-01-08 Listed $899,900 BRIGHT MLS
• 2022-11-10 Listing Removed — BRIGHT MLS
• 2022-10-12 Price Changed $895,000 BRIGHT MLS
• 2022-09-25 Relisted — BRIGHT MLS
• 2022-09-10 Listing Removed — BRIGHT MLS
• 2022-08-13 Price Changed $949,000 BRIGHT MLS
• 2021-12-10 Listed $1,200,000 BRIGHT MLS
• 2020-07-27 Listing Removed — BRIGHT MLS
• 2020-01-24 Price Changed $799,000 BRIGHT MLS
• 2019-12-16 Price Changed $899,500 BRIGHT MLS
• 2019-11-13 Price Changed $900,500 BRIGHT MLS
• 2019-08-06 Price Changed $1,200,000 BRIGHT MLS
• 2019-08-01 Listed $900,000 BRIGHT MLS
• 1987-01-02 Sold (Public Records) $68,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $4,627 · +1.4% YoY. Source: county tax records.