3317 15th St SE · Washington, DC 20032

$599,000

6 bd · 4.0 ba · 2,520 sqft · MultiFamily public records · 77 Days on market

Built 1945 4,008 sqft lot Est $698k · 14% under

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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 +20.0/30.0
• ARV discount +13.9/15.0
• DSCR +6.3/10.0
• 1% rule +4.5/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

Key facts

• 4,008 sq ft lot
• Built 1945
• Listed 77 days

Property features AI

Finance

• Other: Assessed land value and improvement assessment recorded
• Financial info: Total of 4 units; 4 units currently listed as vacant

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas hot water
• Home design: Semi-detached property; Fee simple ownership; Assessor-reported year built
• Construction: Brick construction; Crawl space foundation
• Exterior features: Tidal water: none; Soil type: Chillum-Urban Land Complex; Other structures noted above and below grade

Interior

• Bedrooms: Four-unit property consisting of two 1-bedroom units and two 2-bedroom units; All unit identifiers: Unit 1, Unit 2, Unit 3, Unit 4
• Heating & cooling: Hot water heating; Natural gas heating fuel; Central air conditioning (electric)
• Interior features: No basement; Assessor-reported living area and finished area

What this means for you Summary

Snapshot

• This is a 2×1bd/1ba + 2×2bd/1ba units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $737 ($9k/yr) — positive. Per door: $184/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $571k (4.7% below list).
• Recommended offer: $563k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Zoned schools: Johnson Ms (298 students, 0% FRL); Ballou Hs (657 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+4.0%/yr); 145 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $5,711/mo this rent would consume 139% of the median local household income ($49k/yr) (locally 4530% 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 $4k of loan paydown is wiped out by about $18k 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.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($563k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $155k; list at $599k implies a 286% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $563,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.28%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $698,040
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3315 15th St SE	0.01mi	6/—	2,520 (0%)	20mo	$699,000	$277	83

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 · 3.96% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.73×
• Total profit: $-44,674
• Equity at exit: $89,313

10-year hold

• IRR: 3.5%
• Equity multiple: 1.26×
• Total profit: $44,307
• Equity at exit: $51,791

Cash invested: $167,720 (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 20032

• Home prices YoY: -15.6%
• Rents YoY: 4.0%
• Active inventory: 145
• Price-to-rent: 36.6×

Monthly cashflow live

• Estimated rent: $5,711 high
• Mortgage (P&I): −$3,141
• Tax from tax record: −$384 /mo · $4,603/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,199
• Net cashflow: $737

Break-even live

Break-even rent $4,778

Max offer price $599,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,728
▸ 2× units	2	1	$2,982
Total (4 units)			$5,711

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2530 Elvans Rd SE Washington, DC	7.0	3.5	2760	$8,500	$3.08	3d	1	0.73mi
2530 Elvans Rd SE Unit B Washington, DC	5.0	3.5	2760	$7,500	$2.72	8d	1	0.73mi
1726 Gainesville St SE Unit 1726 20020 Washington, DC	6.0	3.5	2400	$7,000	$2.92	24d	1	0.75mi
1433 Howard Rd SE Washington, DC	5.0	3.5	2000	$7,500	$3.75	19d	1	0.99mi
1953 19th Pl SE Unit 204-205 Washington, DC	6.0	2.0	1960	$7,550	$3.85	5d	1	1.42mi
1953 19th Pl SE Apt B2 Washington, DC	6.0	2.0	1860	$7,365	$3.96	24d	1	1.42mi
1953 19th Pl SE Unit 304 Washington, DC	6.0	2.0	1860	$8,100	$4.35	24d	1	1.42mi
1616 Marion Barry Ave SE Washington, DC	6.0	3.0	2080	$5,500	$2.64	2d	1	1.48mi

Listing history 28 events

1. 2026-06-18
   days on market $599,000 Active 77 DOM
2. 2026-06-17
   days on market $599,000 Active 76 DOM
3. 2026-06-16
   days on market $599,000 Active 75 DOM
4. 2026-06-15
   days on market $599,000 Active 74 DOM
5. 2026-06-13
   days on market $599,000 Active 72 DOM
6. 2026-06-09
   days on market $599,000 Active 68 DOM
7. 2026-06-08
   days on market $599,000 Active 67 DOM
8. 2026-06-07
   days on market $599,000 Active 66 DOM
9. 2026-06-04
   days on market $599,000 Active 63 DOM
10. 2026-06-03
    days on market $599,000 Active 62 DOM
11. 2026-06-02
    days on market $599,000 Active 61 DOM
12. 2026-06-01
    days on market $599,000 Active 60 DOM
13. 2026-05-31
    days on market $599,000 Active 59 DOM
14. 2026-04-02
    listed $599,000 Active
15. 2012-06-14
    soldstatus $155,000
16. 2012-06-08
    soldstatus $155,000 Sold 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

17. 2012-06-08
    soldstatus $155,000 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

18. 2012-04-17
    status Contract 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

19. 2012-04-17
    historical 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

20. 2012-03-26
    status Active 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

21. 2012-01-07
    status Contract 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

22. 2011-11-29
    price $165,000 Active 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

23. 2011-11-29
    status Active 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

24. 2011-11-15
    status Contingent (No Kick Out) 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

25. 2011-10-16
    price $175,000 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

26. 2011-09-28
    listed $205,000 Active 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

27. 2011-09-27
    listed $165,000 296-char remark

    Show marketing remark (296 chars)

    Great Potential. .. Seller MOTIVATED!!!. .. Must Sell NOW!!! This property is currently being used as a Church. Can be converted back to a 4 unit apartment building. Shown by appoinment only. Priced below market. .. .THIS IS NOT A SHORT SALE OR F/C. .. CASH ONLY. .. READY TO CLOSE IMMEDIATELY!!!

28. 1994-04-20
    soldstatus $37,500

ⓘ 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: $4,603 · $384/mo
• Projected year-2 tax: $4,603 · $384/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $68,532
• − Mortgage interest: −$33,553
• − Property taxes: −$4,603
• − Insurance: −$2,995
• − Repairs & maintenance: −$5,483
• − Management: −$5,483
• − Depreciation: −$17,425
• Taxable loss: −$1,010
• Est. tax savings @ 24.0%: +$242
• After-tax cash flow: $9,090/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): 40,920
• Household income: $49,139
• Rent vs Own: 77.4% rent · 22.6% own
• Severe rent burden: 4530.0

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 (80%)
• Race & ethnicity: Black 80% White 8% Two or more races 7% Hispanic / Latino 5%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -60.34%
• Current HPI: 326.4077
• Rent YoY: ▲ 3.96%
• 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

+1497.3% since first listed

15 events — show timeline

• 2026-04-02 Listed $599,000 BRIGHT MLS
• 2012-06-14 Sold (Public Records) $155,000 Public Records
• 2012-06-08 Sold (MLS) $155,000 BRIGHT MLS
• 2012-06-08 Sold (MLS) $155,000 MRIS
• 2012-04-17 Pending — MRIS
• 2012-04-17 Listing Removed — BRIGHT MLS
• 2012-03-26 Relisted — MRIS
• 2012-01-07 Pending — MRIS
• 2011-11-29 Relisted — MRIS
• 2011-11-29 Price Changed $165,000 MRIS
• 2011-11-15 Pending — MRIS
• 2011-10-16 Price Changed $175,000 MRIS
• 2011-09-28 Listed $205,000 MRIS
• 2011-09-27 Listed $165,000 BRIGHT MLS
• 1994-04-20 Sold (Public Records) $37,500 Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,603 · +3.5% YoY. Source: county tax records.