1019 16th St NE · Washington, DC 20002

$649,999

4 bd · 4.0 ba · 2,640 sqft · MultiFamily public records · 33 Days on market

Built 1940 2,970 sqft lot Est $855k · 24% 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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• 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

Exceptional value-add opportunity in the heart of Trinidad! 1019 16th St NE is a fully vacant 4-unit multifamily building, each unit offering 2 bedrooms and 1 full bath, presenting tremendous potential for investors, developers, or owner-operators seeking to reposition and maximize returns in one of DC’s most dynamic neighborhoods. Property sustained a fire in June 2025 and is being sold strictly as-is, making it ideal for a full renovation, restoration, or strategic redevelopment. Strong upside potential for rental income, condo conversion, or long-term hold in an area experiencing continued growth and demand. Prime location with convenient access to public transportation, neighborho

Key facts

• 2,970 sq ft lot
• Built 1940
• Listed 33 days

Property features AI

Finance

• Financial info: Four total units; Four vacant units

Exterior

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

Interior

• Bedrooms: Four 2-bedroom units (multi-unit building)
• Heating & cooling: Hot water heating; Natural gas heating fuel; Electric cooling fuel
• Interior features: Assessor-listed living area source

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $577/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $650k).
• Recommended offer: $630k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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); 558 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $8,212/mo this rent would consume 82% 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 $4k of loan paydown is wiped out by about $20k 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 33 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 29y ago; this cycle's ask has dropped $49k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $650k implies a 634% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $630,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.26% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.21%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $855,360
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1408 Holbrook St NE	0.08mi	4/—	2,730 (+3%)	8mo	$740,000	$271	84
1601 Holbrook St NE	0.12mi	4/4.0	2,720 (+3%)	8mo	$685,000	$252	82
1520-1524 Queen St NE	0.10mi	4/—	2,442 (-8%)	11mo	$814,000	$333	73
1711 H St NE	0.31mi	4/—	2,442 (-8%)	3mo	$645,000	$264	71
1636 Lang Pl NE	0.16mi	5/— (+1)	2,790 (+6%)	15mo	$1,050,000	$376	66
1103 Florida Ave NE	0.50mi	4/—	2,288 (-13%)	0mo	$765,000	$334	54
1959 Capitol Ave NE	0.63mi	4/4.0	2,496 (-6%)	11mo	$550,000	$220	52
1308 Gallaudet St NE	0.71mi	4/—	2,376 (-10%)	8mo	$770,000	$324	43

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: 2.6%
• Equity multiple: 1.10×
• Total profit: $17,498
• Equity at exit: $96,917

10-year hold

• IRR: 9.2%
• Equity multiple: 1.61×
• Total profit: $111,188
• Equity at exit: $56,200

Cash invested: $182,000 (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: 558
• Price-to-rent: 26.4×

Monthly cashflow live

• Estimated rent: $8,212 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$501 /mo · $6,007/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,725
• Net cashflow: $2,307

Break-even live

Break-even rent $5,291

Max offer price $649,999

Occupancy floor 67%

Sensitivity live

Price	-10% $2,675	-5% $2,491	+0% $2,307	+5% $2,123	+10% $1,939
Rent	-10% $1,659	-5% $1,983	+0% $2,307	+5% $2,632	+10% $2,956
Rate	-1.0pp $2,635	-0.5pp $2,473	base $2,307	+0.5pp $2,139	+1.0pp $1,968

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,212
Total (4 units)			$8,212

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1609 Levis St NE Washington, DC	4.0	4.5	2295	$3,900	$1.70	25d	1	0.03mi
1640 L St NE Washington, DC	3.0	2.0	2300	$3,700	$1.61	20d	1	0.09mi
1638 Trinidad Ave NE #1 Washington, DC	3.0	2.5	1780	$5,950	$3.34	20d	1	0.23mi
1222 Owen Pl NE Washington, DC	4.0	2.5	2164	$3,800	$1.76	25d	1	0.30mi
1255 Raum St NE Unit 1388282P Washington, DC	2.0–8.0	1.0–5.0	3245	$6,967	$2.15	3d	2	0.30mi
1321 I St NE Washington, DC	4.0	3.5	1809	$4,600	$2.54	25d	1	0.36mi
1324 H St NE Unit 2 Washington, DC	4.0	1.5	2100	$4,000	$1.90	25d	1	0.38mi
1417 G St NE Washington, DC	3.0	2.0	1982	$3,700	$1.87	20d	1	0.40mi
1117 Montello Ave NE Washington, DC	4.0	3.5	2260	$4,500	$1.99	25d	1	0.42mi
847 20th St NE Washington, DC	3.0	2.5	1802	$4,100	$2.28	16d	1	0.42mi
847 20th St NE Washington, DC	4.0	2.5	1802	$4,100	$2.28	14d	1	0.42mi
1714 Montello Ave NE Washington, DC	4.0	3.0	2100	$4,350	$2.07	25d	1	0.43mi
1169 Morse St NE Washington, DC	3.0	3.0	2274	$4,250	$1.87	5d	1	0.45mi
1167 Morse St NE #1 Washington, DC	5.0	4.5	3409	$8,500	$2.49	25d	1	0.45mi
1113 I St NE Washington, DC	3.0	1.0	1800	$3,325	$1.85	25d	1	0.52mi
1916 W Virginia Ave NE Unit 2 Washington, DC	3.0	2.0	1800	$2,900	$1.61	21d	1	0.56mi
525 21st St NE Washington, DC	4.0	3.5	1860	$3,545	$1.91	25d	1	0.65mi
525 21st St NE Washington, DC	4.0	3.5	1890	$3,545	$1.88	19d	1	0.65mi
2025 E St NE Unit 4 Washington, DC	5.0	3.0	1936	$6,593	$3.41	25d	1	0.66mi
333 17th Pl NE Washington, DC	3.0	1.5	2300	$3,400	$1.48	25d	1	0.69mi
1414 C St NE Washington, DC	4.0	2.5	1824	$5,100	$2.80	25d	1	0.72mi
1724 C St NE Washington, DC	3.0	2.5	2040	$4,950	$2.43	9d	1	0.73mi
721 K St NE Washington, DC	3.0	1.0	1832	$4,500	$2.46	25d	1	0.73mi
221 20th St NE Unit 4 Washington, DC	3.0	1.0	3360	$2,999	$0.89	25d	1	0.85mi
723 5th St NE Unit 630P Washington, DC	3.0	3.0	3003	$7,500	$2.50	14d	1	0.98mi
1319 Massachusetts Ave SE Unit 1 Washington, DC	3.0	3.0	1880	$6,400	$3.40	17d	1	1.12mi
1319 Massachusetts Ave SE Washington, DC	3.0	3.0	2578	$6,000	$2.33	25d	1	1.12mi
2300 18th St NE #2300 Washington, DC	4.0	3.0	1826	$4,500	$2.46	23d	1	1.15mi
223 17th St SE #2 Washington, DC	3.0	2.5	1900	$5,200	$2.74	25d	1	1.18mi
1501 Harry Thomas Way NE Washington, DC	3.0	1.0–3.0	1220	$5,655	$4.64	0d	26	1.19mi
504 Capitol Ct NE Unit 170373P Washington, DC	3.0	2.0	2615	$7,350	$2.81	9d	1	1.23mi
237 15th St SE Unit 1 Washington, DC	3.0	3.0	1938	$4,500	$2.32	25d	1	1.24mi
329 16th St SE Washington, DC	3.0	3.0	2000	$4,800	$2.40	25d	1	1.34mi
1825 Massachusetts Ave SE Washington, DC	3.0	2.5	1957	$4,000	$2.04	25d	1	1.36mi
713 N Carolina Ave SE Unit 430P Washington, DC	3.0	2.5	1991	$6,648	$3.34	9d	1	1.36mi
137 R St NE Washington, DC	3.0	1.5	2515	$3,550	$1.41	6d	1	1.38mi
325 V St NE Unit 1 Washington, DC	5.0	2.0	1850	$6,500	$3.51	0d	1	1.40mi
27 3rd St NE Unit 1011176P Washington, DC	3.0	2.0	1991	$7,260	$3.65	23d	1	1.40mi
2104 4th St NE #1 Washington, DC	4.0	3.5	2165	$6,150	$2.84	25d	1	1.42mi
2129 4th St NE Washington, DC	4.0	3.5	2052	$4,400	$2.14	25d	1	1.42mi

Listing history 11 events

1. 2026-05-09
   status Pending
2. 2026-05-02
   price $649,999
3. 2026-04-07
   listed $699,000 Active
4. 2026-03-28
   historical $699,000
5. 1998-06-01
   soldstatus $88,600
6. 1998-05-18
   soldstatus $88,600
7. 1998-03-08
   historical
8. 1997-06-30
   listed $89,900
9. 1993-03-03
   soldstatus $103,520
10. 1991-02-14
    soldstatus $109,000
11. 1990-02-14
    soldstatus $109,000

ⓘ 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: $6,007 · $501/mo
• Projected year-2 tax: $6,007 · $501/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 5/10 Major FEMA zone X (unshaded) · 65% 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 21% 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: $98,544
• − Mortgage interest: −$36,410
• − Property taxes: −$6,007
• − Insurance: −$3,250
• − Repairs & maintenance: −$7,884
• − Management: −$7,884
• − Depreciation: −$18,909
• Taxable income: $18,201
• Est. tax owed @ 24.0%: −$4,368
• After-tax cash flow: $23,321/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

+496.3% since first listed

11 events — show timeline

• 2026-05-09 Pending — BRIGHT MLS
• 2026-05-02 Price Changed $649,999 BRIGHT MLS
• 2026-04-07 Listed $699,000 BRIGHT MLS
• 2026-03-28 Coming Soon $699,000 BRIGHT MLS
• 1998-06-01 Sold (Public Records) $88,600 Public Records
• 1998-05-18 Sold (MLS) $88,600 MRIS
• 1998-03-08 Delisted — MRIS
• 1997-06-30 Listed $89,900 MRIS
• 1993-03-03 Sold (Public Records) $103,520 Public Records
• 1991-02-14 Sold (Public Records) $109,000 Public Records
• 1990-02-14 Sold (Public Records) $109,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $6,007 · -3.4% YoY. Source: county tax records.