1631 Gainesville St SE #301 · Washington, DC 20020

$140,000

2 bd · 1.0 ba · 839 sqft · Condo public records · 106 Days on market

Built 1965 $490/mo HOA · 26% of rent

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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 +17.6/30.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 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

Listing remarks

Cute 2 bedroom, 1 bath 3rd floor condo. Features include light filled rooms, large bedrooms and convenient in-unit stackable front loading washer and dryer.

Key facts

• $490 HOA
• Built 1965
• Listed 105 days

Property features AI

Finance

• HOA & community: Monthly condo fee of $490.33; HOA covers common area maintenance, insurance, lawn maintenance, reserve funds, snow removal, water and sewer; Community center amenity

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas for heating and hot water
• Home design: Brick construction; Unit/Flat; Entry on floor 1
• Construction: Brick exterior
• Exterior features: Condominium unit in a garden-style building (1–4 floors); Pets allowed with breed restrictions; Above grade and below grade structures noted; Located within city limits

Interior

• Kitchen: Stove; Oven (double); Refrigerator; Dishwasher; Disposal
• Bedrooms: 2 bedrooms on main level
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: No basement; Living room; Dining room
• Laundry & utility: Stacked washer/dryer included (front-loading washer and dryer); Washer and dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 rising (+3.9%/yr); 296 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 42% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k 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 106 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 14y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $140k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $127,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.36% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.37%
• DSCR: 1.15
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.86% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.65×
• Total profit: $-13,737
• Equity at exit: $20,874

10-year hold

• IRR: 1.7%
• Equity multiple: 1.13×
• Total profit: $5,143
• Equity at exit: $12,105

Cash invested: $39,200 (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 20020

• Rents YoY: 3.9%
• Active inventory: 296
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,897 high
• Mortgage (P&I): −$734
• Tax from tax record: −$106 /mo · $1,277/yr
• Insurance: −$58
• HOA: −$490
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $110

Break-even live

Break-even rent $1,758

Max offer price $140,000

Occupancy floor 89%

Sensitivity live

Price	-10% $189	-5% $150	+0% $110	+5% $70	+10% $31
Rent	-10% $-40	-5% $35	+0% $110	+5% $185	+10% $260
Rate	-1.0pp $181	-0.5pp $146	base $110	+0.5pp $74	+1.0pp $37

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1507 Erie St SE Washington, DC	1.0	1.0	1000	$2,800	$2.80	24d	1	0.30mi
2341 Green St SE Washington, DC	2.0	1.0	741	$1,225	$1.65	24d	1	0.41mi
1619 Butler St SE Unit 3 Washington, DC	2.0	1.0	700	$1,700	$2.43	24d	1	0.49mi
2936 Knox Pl SE Washington, DC	1.0	1.0	800	$1,750	$2.19	4d	1	0.50mi
2000 Ridgecrest Ct SE Washington, DC	3.0	1.0	850	$1,486	$1.75	2d	1	0.50mi
2000 Ridgecrest Ct SE Washington, DC	2.0–3.0	1.0	900	$1,750	$1.94	2d	6	0.50mi
2629 Douglass Rd SE Washington, DC	2.0–3.0	1.0–1.5	888	$1,450	$1.63	1d	13	0.53mi
2482 Alabama Ave SE Unit 302 Washington, DC	1.0	1.0	725	$1,350	$1.86	24d	1	0.53mi
2472 Alabama Ave SE Unit B2 Washington, DC	3.0	1.0	827	$2,500	$3.02	24d	1	0.53mi
2429 Alabama Ave SE Unit 204 Washington, DC	3.0	1.0	635	$2,850	$4.49	22d	1	0.55mi
2495 Alabama Ave SE Unit 302 Washington, DC	3.0	1.0	825	$2,600	$3.15	22d	1	0.57mi
1425-1429 Cedar St SE Washington, DC	1.0	1.0	644	$1,419	$2.20	3d	5	0.57mi
1717 Alabama Ave SE Washington, DC	1.0–2.0	1.0	600	$1,445	$2.41	3d	9	0.57mi
2439 25th St SE Washington, DC	1.0	1.0	679	$1,293	$1.90	16d	1	0.58mi
3275 15th Pl SE #101 Washington, DC	3.0	1.0	984	$2,250	$2.29	24d	1	0.58mi
3281 15th Pl SE Washington, DC	3.0	1.0	1012	$1,750	$1.73	8d	1	0.60mi
2816 Hartford St SE Washington, DC	3.0	1.0	760	$9,000	$11.84	4d	1	0.60mi
2609 Douglass Rd SE #402 Washington, DC	2.0	2.0	990	$2,200	$2.22	24d	1	0.61mi
2833 28th St SE Unit 4 Washington, DC	3.0	1.0	820	$2,200	$2.68	24d	1	0.62mi
1907 Good Hope Ct SE #7 Washington, DC	1.0	1.0	578	$1,500	$2.60	24d	1	0.65mi
1907 Good Hope Ct SE #309 Washington, DC	2.0	1.0	670	$1,595	$2.38	24d	1	0.65mi
2627 Jasper St SE Washington, DC	1.0–2.0	1.0–1.5	838	$1,729	$2.06	24d	1	0.65mi
1907 Marion Barry Ave SE Washington, DC	2.0	1.0	900	$1,495	$1.66	24d	1	0.65mi
2805 28th St SE Unit 1 Washington, DC	2.0	1.0	800	$1,690	$2.11	24d	1	0.66mi
2838 Hartford St SE #304 Washington, DC	2.0	1.0	775	$1,500	$1.94	3d	1	0.68mi
2838 Hartford St SE Washington, DC	2.0	1.0	785	$1,538	$1.96	18d	2	0.68mi
1526 V St SE Unit 2 Washington, DC	2.0	1.0	800	$1,700	$2.12	24d	1	0.69mi
1953 19th Pl SE Apt 104 Washington, DC	3.0	1.0	980	$2,800	$2.86	5d	1	0.70mi
1720 Trenton Pl SE Washington, DC	1.0–2.0	1.0	600	$1,335	$2.23	2d	2	0.70mi
1953 19th Pl SE Apt 301 Washington, DC	3.0	1.0	980	$5,301	$5.41	24d	1	0.70mi
2841 Gainesville St SE #201 Washington, DC	2.0	1.0	784	$1,900	$2.42	3d	1	0.70mi
1847 Marion Barry Ave SE Washington, DC	1.0–2.0	1.0	725	$1,525	$2.10	24d	1	0.71mi
2847 Gainesville St SE Unit 303 Washington, DC	3.0	1.0	902	$2,400	$2.66	24d	1	0.71mi
2847 Gainesville St SE Unit B2 Washington, DC	2.0	1.0	710	$1,700	$2.39	24d	1	0.71mi
1300 Dexter Ter SE Washington, DC	2.0	1.5	1100	$2,600	$2.36	24d	1	0.72mi
2607 Naylor Rd SE Washington, DC	1.0	1.0	665	$1,275	$1.92	8d	4	0.73mi
3212 28th St SE Unit D Washington, DC	3.0	1.0	790	$2,100	$2.66	24d	1	0.73mi
2300 Good Hope Rd SE Washington, DC	2.0	1.0–2.0	1020	$1,913	$1.88	24d	6	0.73mi
3216 28th St SE #2 Washington, DC	3.0	1.0	600	$2,204	$3.67	24d	1	0.74mi
1302 Morris Rd SE Washington, DC	3.0	1.0	750	$2,400	$3.20	24d	1	0.75mi

HOA detail condo

• Monthly dues: $490 · $5,880/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-06-18
   days on market $140,000 Active 106 DOM
2. 2026-06-17
   days on market $140,000 Active 105 DOM
3. 2026-06-16
   days on market $140,000 Active 104 DOM
4. 2026-06-15
   days on market $140,000 Active 103 DOM
5. 2026-06-13
   days on market $140,000 Active 101 DOM
6. 2026-06-09
   days on market $140,000 Active 97 DOM
7. 2026-06-08
   days on market $140,000 Active 96 DOM
8. 2026-06-07
   days on market $140,000 Active 95 DOM
9. 2026-06-04
   days on market $140,000 Active 92 DOM
10. 2026-06-03
    days on market $140,000 Active 91 DOM
11. 2026-06-02
    days on market $140,000 Active 90 DOM
12. 2026-06-01
    days on market $140,000 Active 89 DOM
13. 2026-05-31
    days on market $140,000 Active 88 DOM
14. 2026-05-08
    price $140,000
15. 2026-03-05
    listed $155,000 Active
16. 2025-12-15
    historical
17. 2025-11-03
    price $149,000
18. 2025-10-18
    price $159,999
19. 2025-08-07
    listed $168,000 Active
20. 2025-05-23
    historical
21. 2025-05-23
    historical
22. 2025-05-23
    status Active
23. 2025-05-19
    listed $168,000 Active
24. 2025-05-18
    historical
25. 2021-10-11
    historical
26. 2021-09-11
    listed $163,000 Active
27. 2021-08-22
    historical
28. 2021-07-02
    price $158,000
29. 2021-05-09
    price $168,000
30. 2021-04-14
    listed $175,000 Active
31. 2021-04-03
    historical
32. 2021-04-02
    listed $175,000 Active
33. 2020-11-28
    listed $165,000 Active
34. 2020-11-28
    historical
35. 2012-04-16
    historical
36. 2012-04-10
    soldstatus $50,000 Sold
37. 2012-04-10
    soldstatus $50,000
38. 2012-03-29
    status Contingent (No Kick Out)
39. 2012-03-26
    historical
40. 2012-03-02
    listed $48,500 Active
41. 2012-03-02
    listed $48,500
42. 2004-05-26
    soldstatus $109,900

ⓘ 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: $1,277 · $106/mo
• Projected year-2 tax: $1,277 · $106/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $22,769
• − Mortgage interest: −$7,842
• − Property taxes: −$1,277
• − Insurance: −$700
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − HOA: −$5,880
• − Depreciation: −$4,073
• Taxable loss: −$646
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $1,475/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): 53,005
• Household income: $54,032
• Rent vs Own: 69.8% rent · 30.2% own
• Severe rent burden: 5148.0

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 (90%)
• Race & ethnicity: Black 90% Two or more races 3% Hispanic / Latino 3% White 3%
• Common ancestry: Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -415.44%
• Current HPI: 306.5068
• Rent YoY: ▲ 3.86%
• 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

+27.4% since first listed

29 events — show timeline

• 2026-05-08 Price Changed $140,000 BRIGHT MLS
• 2026-03-05 Listed $155,000 BRIGHT MLS
• 2025-12-15 Listing Removed — BRIGHT MLS
• 2025-11-03 Price Changed $149,000 BRIGHT MLS
• 2025-10-18 Price Changed $159,999 BRIGHT MLS
• 2025-08-07 Listed $168,000 BRIGHT MLS
• 2025-05-23 Listing Removed — BRIGHT MLS
• 2025-05-23 Listing Removed — BRIGHT MLS
• 2025-05-23 Relisted — BRIGHT MLS
• 2025-05-19 Listed $168,000 BRIGHT MLS
• 2025-05-18 Coming Soon — BRIGHT MLS
• 2021-10-11 Listing Removed — BRIGHT MLS
• 2021-09-11 Listed $163,000 BRIGHT MLS
• 2021-08-22 Listing Removed — BRIGHT MLS
• 2021-07-02 Price Changed $158,000 BRIGHT MLS
• 2021-05-09 Price Changed $168,000 BRIGHT MLS
• 2021-04-14 Listed $175,000 BRIGHT MLS
• 2021-04-03 Listing Removed — BRIGHT MLS
• 2021-04-02 Listed $175,000 BRIGHT MLS
• 2020-11-28 Listing Removed — BRIGHT MLS
• 2020-11-28 Listed $165,000 BRIGHT MLS
• 2012-04-16 Delisted — MRIS
• 2012-04-10 Sold (MLS) $50,000 BRIGHT MLS
• 2012-04-10 Sold (MLS) $50,000 MRIS
• 2012-03-29 Pending — MRIS
• 2012-03-26 Listing Removed — BRIGHT MLS
• 2012-03-02 Listed $48,500 MRIS
• 2012-03-02 Listed $48,500 BRIGHT MLS
• 2004-05-26 Sold (Public Records) $109,900 Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,277 · -4.0% YoY. Source: county tax records.