1223 Holbrook Ter NE · Washington, DC 20002

$850,000

4 bd · 4.0 ba · 3,164 sqft · MultiFamily public records · 131 Days on market

Built 1937 2,703 sqft lot Est $857k · at est.

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.9/15.0
• 1% rule +6.0/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• 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

GREAT OPPORTUNITY! THIS IS A 4-UNIT BUILDING IN TRINIDAD. OWNER USED IT AS 2 5-BEDROOM UNITS FOR RENTAL PURPOSES. THE BUILDING HAS A 4-UNIT C of O. BUYER CAN CONVERT BACK TO 4-UNIT, IF NEEDED. UNIQUE OPPORTUNITY TO BUY BOTH 1223 & 1227 HOLBROOK TER. NE AS A PACKAGE FOR $1.7 MIL FOR A GREAT DEVELOPMENT!

Key facts

• 2,703 sq ft lot
• Built 1937
• Listed 130 days

Property features AI

Finance

• Financial info: Two total units; Above-grade finished area: 3,164; Total below-grade area: 0

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Other foundation; Other structures both above grade and below grade; Built year source: Assessor
• Exterior features: No tidal water

Interior

• Bedrooms: Four 2-bedroom units
• Heating & cooling: Hot water heating; Natural gas heating fuel; Central air conditioning (electric)
• Interior features: Living area source: Assessor

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $504/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $850k).
• Recommended offer: $748k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $9,360/mo this rent would consume 93% 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 $26k 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 131 days — a 12% lower offer ($748k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $125k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $108k; list at $850k implies a 691% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $748,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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 1937 — 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: 1.10% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.16%
• DSCR: 1.45
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $857,444
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1719 West Virginia Ave NE	0.21mi	4/—	3,100 (-2%)	8mo	$840,000	$271	80
1912 M St NE	0.57mi	4/4.0	3,246 (+3%)	2mo	$825,000	$254	67
1211 Simms Pl NE	0.16mi	3/4.0 (-1)	3,472 (+10%)	5mo	$1,220,000	$351	67
1217 Raum St NE	0.11mi	4/—	3,395 (+7%)	23mo	$699,000	$206	64
1408 Holbrook St NE	0.27mi	4/—	2,730 (-14%)	7mo	$740,000	$271	58
1601 Holbrook St NE	0.26mi	4/4.0	2,720 (-14%)	8mo	$685,000	$252	58
1500 Oates St NE	0.30mi	5/— (+1)	3,602 (+14%)	15mo	$885,000	$246	45
1636 Lang Pl NE	0.41mi	5/— (+1)	2,790 (-12%)	15mo	$1,050,000	$376	44

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: -4.3%
• Equity multiple: 0.84×
• Total profit: $-36,953
• Equity at exit: $126,738

10-year hold

• IRR: 1.8%
• Equity multiple: 1.11×
• Total profit: $26,456
• Equity at exit: $73,492

Cash invested: $238,000 (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: 30.3×

Monthly cashflow live

• Estimated rent: $9,360 high
• Mortgage (P&I): −$4,457
• Tax from tax record: −$567 /mo · $6,805/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,966
• Net cashflow: $2,016

Break-even live

Break-even rent $6,809

Max offer price $850,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$9,360
Total (4 units)			$9,360

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1222 Owen Pl NE Washington, DC	4.0	2.5	2164	$3,800	$1.76	24d	1	0.10mi
1255 Raum St NE Unit 1388282P Washington, DC	2.0–8.0	1.0–5.0	3245	$6,967	$2.15	2d	2	0.12mi
1714 Montello Ave NE Washington, DC	4.0	3.0	2100	$4,350	$2.07	24d	1	0.17mi
1609 Levis St NE Washington, DC	4.0	4.5	2295	$3,900	$1.70	24d	1	0.31mi
1169 Morse St NE Washington, DC	3.0	3.0	2274	$4,250	$1.87	4d	1	0.32mi
1167 Morse St NE #1 Washington, DC	5.0	4.5	3409	$8,500	$2.49	24d	1	0.32mi
1117 Montello Ave NE Washington, DC	4.0	3.5	2260	$4,500	$1.99	24d	1	0.33mi
1640 L St NE Washington, DC	3.0	2.0	2300	$3,700	$1.61	18d	1	0.38mi
1324 H St NE Unit 2 Washington, DC	4.0	1.5	2100	$4,000	$1.90	24d	1	0.46mi
723 5th St NE Unit 630P Washington, DC	3.0	3.0	3003	$7,500	$2.50	12d	1	0.88mi
333 17th Pl NE Washington, DC	3.0	1.5	2300	$3,400	$1.48	24d	1	0.95mi
137 R St NE Washington, DC	3.0	1.5	2515	$3,550	$1.41	5d	1	1.10mi
2104 4th St NE #1 Washington, DC	4.0	3.5	2165	$6,150	$2.84	24d	1	1.12mi
221 20th St NE Unit 4 Washington, DC	3.0	1.0	3360	$2,999	$0.89	24d	1	1.13mi
301 V St NE Washington, DC	4.0	3.5	3000	$5,650	$1.88	19d	1	1.14mi
504 Capitol Ct NE Unit 170373P Washington, DC	3.0	2.0	2615	$7,350	$2.81	7d	1	1.16mi
1319 Massachusetts Ave SE Washington, DC	3.0	3.0	2578	$6,000	$2.33	24d	1	1.29mi
13 S St NE Unit A Washington, DC	3.0	3.5	2200	$3,800	$1.73	22d	1	1.30mi
13 S St NE Unit A Washington, DC	3.0	3.5	2200	$3,800	$1.73	24d	1	1.30mi
1917 Lincoln Rd NE Washington, DC	3.0	3.0	2200	$4,500	$2.05	24d	1	1.31mi
1821 N Capitol St NE #2 Washington, DC	3.0	1.0	2719	$3,200	$1.18	24d	1	1.33mi
45 Rhode Island Ave NE Unit 1388279P Washington, DC	2.0–6.0	2.0–6.0	10371	$10,618	$1.02	7d	2	1.35mi
15 Seaton Pl NW #1 Washington, DC	3.0	2.5	2539	$3,700	$1.46	24d	1	1.39mi
12 Rhode Island Ave NW Washington, DC	4.0	4.0	3319	$5,500	$1.66	24d	1	1.42mi
209 Douglas St NE Washington, DC	3.0	2.5	2700	$3,000	$1.11	24d	1	1.45mi
17 U St NW Unit A Washington, DC	4.0	3.5	2388	$6,000	$2.51	24d	1	1.46mi
2032 N Capitol St NW Unit 2 Washington, DC	3.0	1.0	3698	$3,950	$1.07	24d	1	1.47mi
2032 N Capitol St NW Unit 2 Washington, DC	3.0	1.0	3698	$3,950	$1.07	22d	1	1.47mi
1745 1st St NW Washington, DC	4.0	3.0	2804	$5,000	$1.78	12d	1	1.47mi
2120 N Capitol St NW Washington, DC	5.0	3.0	3000	$5,500	$1.83	2d	1	1.49mi

Listing history 23 events

1. 2026-06-18
   days on market $850,000 Active 131 DOM
2. 2026-06-17
   days on market $850,000 Active 130 DOM
3. 2026-06-16
   days on market $850,000 Active 129 DOM
4. 2026-06-15
   days on market $850,000 Active 128 DOM
5. 2026-06-13
   days on market $850,000 Active 126 DOM
6. 2026-06-09
   days on market $850,000 Active 122 DOM
7. 2026-06-08
   days on market $850,000 Active 121 DOM
8. 2026-06-07
   days on market $850,000 Active 120 DOM
9. 2026-06-04
   days on market $850,000 Active 117 DOM
10. 2026-06-03
    days on market $850,000 Active 116 DOM
11. 2026-06-02
    days on market $850,000 Active 115 DOM
12. 2026-06-01
    days on market $850,000 Active 114 DOM
13. 2026-05-31
    days on market $850,000 Active 113 DOM
14. 2026-03-11
    price $850,000
15. 2026-02-07
    listed $975,000 Active
16. 2026-02-06
    historical $975,000
17. 2019-09-03
    historical
18. 2018-12-17
    price $1,300,000
19. 2018-11-29
    price $1,100,000
20. 2018-10-24
    listed $1,350,000 Active
21. 2003-04-21
    soldstatus $107,500
22. 2003-04-15
    soldstatus $146,590
23. 1996-02-29
    soldstatus $140,000

ⓘ 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: $6,805 · $567/mo
• Projected year-2 tax: $6,805 · $567/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 ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $112,320
• − Mortgage interest: −$47,613
• − Property taxes: −$6,805
• − Insurance: −$4,250
• − Repairs & maintenance: −$8,986
• − Management: −$8,986
• − Depreciation: −$24,727
• Taxable income: $10,953
• Est. tax owed @ 24.0%: −$2,629
• After-tax cash flow: $21,559/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

+507.1% since first listed

10 events — show timeline

• 2026-03-11 Price Changed $850,000 BRIGHT MLS
• 2026-02-07 Listed $975,000 BRIGHT MLS
• 2026-02-06 Coming Soon $975,000 BRIGHT MLS
• 2019-09-03 Listing Removed — BRIGHT MLS
• 2018-12-17 Price Changed $1,300,000 BRIGHT MLS
• 2018-11-29 Price Changed $1,100,000 BRIGHT MLS
• 2018-10-24 Listed $1,350,000 BRIGHT MLS
• 2003-04-21 Sold (Public Records) $107,500 Public Records
• 2003-04-15 Sold (Public Records) $146,590 Public Records
• 1996-02-29 Sold (Public Records) $140,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $6,805 · -2.5% YoY. Source: county tax records.