3747 1st St SE · Washington, DC 20032

$540,000

4 bd · None ba · 3,876 sqft · MultiFamily public records · 25 Days on market

Built 1952

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

6 immaculate 1 BR apts near Air Force base entirely rnvatd w/ pine flrs, ceramic tile, new wdws, kitchen, bath, lndscpng & applncs; new everything. Heat/CAC brand new. Has C of O; solid brick bldg for 1st investor/condo cnvrsn, 6 pkng spots, tenants pay utilities. Great access to 295/495. New development & condos nearby, stadium soon! Get Sec 8 tenants for $800 p/mo. p/apt.

Key facts

• Rear parking
• Roof replaced
• Fully vacant

Tags

• FULLY VACANT
• OPERATIONAL FLEXIBILITY
• REAR PARKING
• MAJOR COMMUTER ROUTES
• PUBLIC TRANSPORTATION
• ROOF REPLACED

Property features AI

Finance

• Other: Ownership interest: other
• Financial info: Four total units; Improvement assessed value reported; Land assessed value reported; Tax assessed value reported

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer; Electric available; Natural gas available; Natural gas hot water
• Home design: Detached multi-unit building; Effective year of major remodel 2004
• Construction: Brick veneer construction; Foundation: other
• Exterior features: Detached structure; Brick veneer exterior; Other above- and below-grade structures; Located within city limits; Ground rent paid annually

Interior

• Kitchen: Refrigerator
• Bedrooms: Four one-bedroom units (multi-unit)
• Flooring: Wood floors
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Wood floors; Front entrance full basement

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath multifamily listed at $540k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $540k).
• Recommended offer: $532k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 rising (+4.0%/yr); 145 active listings in the ZIP; 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).
• At $8,047/mo this rent would consume 197% 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 $16k 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 + 4.0% rent growth), your $151k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($532k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $55k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $465k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $531,900 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.49% ✓
• Cap rate: 12.13%
• Cash-on-cash: 20.84%
• DSCR: 1.93
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.96% rent growth · sell at horizon

5-year hold

• IRR: 14.3%
• Equity multiple: 1.58×
• Total profit: $87,672
• Equity at exit: $80,516

10-year hold

• IRR: 23.8%
• Equity multiple: 3.15×
• Total profit: $324,978
• Equity at exit: $46,689

Cash invested: $151,200 (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: 33.6×

Monthly cashflow live

• Estimated rent: $8,047 high
• Mortgage (P&I): −$2,832
• Tax est. 1.5%: −$675 /mo · $8,100/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,690
• Net cashflow: $2,625

Break-even live

Break-even rent $4,724

Max offer price $540,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$8,046
Total (6 units)			$8,047

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: $135,000
• Closing costs: $16,200
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $540,000 Active 25 DOM
2. 2026-06-17
   days on market $540,000 Active 24 DOM
3. 2026-06-16
   days on market $540,000 Active 23 DOM
4. 2026-06-15
   price $540,000 Active 22 DOM
5. 2026-06-15
   days on market $595,000 Active 22 DOM
6. 2026-06-13
   days on market $595,000 Active 20 DOM
7. 2026-06-09
   days on market $595,000 Active 16 DOM
8. 2026-06-08
   days on market $595,000 Active 15 DOM
9. 2026-06-07
   days on market $595,000 Active 14 DOM
10. 2026-06-04
    days on market $595,000 Active 11 DOM
11. 2026-06-03
    days on market $595,000 Active 10 DOM
12. 2026-06-02
    days on market $595,000 Active 9 DOM
13. 2026-06-01
    days on market $595,000 Active 8 DOM
14. 2026-05-31
    days on market $595,000 Active 7 DOM
15. 2026-05-24
    listed $595,000 Active
16. 2005-01-07
    soldstatus $465,000
17. 2004-12-28
    soldstatus $465,000 388-char remark

    Show marketing remark (388 chars)

    6 immaculate 1 BR apts near Air Force base entirely rnvatd w/ pine flrs, ceramic tile, new wdws, kitchen, bath, lndscpng & applncs; new everything. Heat/CAC brand new. Has C of O; solid brick bldg for 1st investor/condo cnvrsn, 6 pkng spots, tenants pay utilities. Great access to 295/495. New development & condos nearby, stadium soon! Get Sec 8 tenants for $800 p/mo. p/apt.

18. 2004-11-18
    historical 388-char remark

    Show marketing remark (388 chars)

    6 immaculate 1 BR apts near Air Force base entirely rnvatd w/ pine flrs, ceramic tile, new wdws, kitchen, bath, lndscpng & applncs; new everything. Heat/CAC brand new. Has C of O; solid brick bldg for 1st investor/condo cnvrsn, 6 pkng spots, tenants pay utilities. Great access to 295/495. New development & condos nearby, stadium soon! Get Sec 8 tenants for $800 p/mo. p/apt.

19. 2004-11-05
    listed $449,000 388-char remark

    Show marketing remark (388 chars)

    6 immaculate 1 BR apts near Air Force base entirely rnvatd w/ pine flrs, ceramic tile, new wdws, kitchen, bath, lndscpng & applncs; new everything. Heat/CAC brand new. Has C of O; solid brick bldg for 1st investor/condo cnvrsn, 6 pkng spots, tenants pay utilities. Great access to 295/495. New development & condos nearby, stadium soon! Get Sec 8 tenants for $800 p/mo. p/apt.

20. 2004-04-13
    soldstatus $250,000 18-char remark

    Show marketing remark (18 chars)

    Call Listing Agent

21. 2003-12-12
    historical 18-char remark

    Show marketing remark (18 chars)

    Call Listing Agent

22. 2003-11-21
    listed $250,000 18-char remark

    Show marketing remark (18 chars)

    Call Listing Agent

23. 1974-01-15
    soldstatus $29,500

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $96,564
• − Mortgage interest: −$30,248
• − Property taxes: −$8,100
• − Insurance: −$2,700
• − Repairs & maintenance: −$7,725
• − Management: −$7,725
• − Depreciation: −$15,709
• Taxable income: $24,356
• Est. tax owed @ 24.0%: −$5,846
• After-tax cash flow: $25,658/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

+1916.9% since first listed

9 events — show timeline

• 2026-05-24 Listed $595,000 BRIGHT MLS
• 2005-01-07 Sold (Public Records) $465,000 Public Records
• 2004-12-28 Sold (MLS) $465,000 MRIS
• 2004-11-18 Delisted — MRIS
• 2004-11-05 Listed $449,000 MRIS
• 2004-04-13 Sold (MLS) $250,000 MRIS
• 2003-12-12 Delisted — MRIS
• 2003-11-21 Listed $250,000 MRIS
• 1974-01-15 Sold (Public Records) $29,500 Public Records