1601 Gainesville St SE #201 · Washington, DC 20020

$219,950

3 bd · 2.5 ba · 1,673 sqft · Condo public records · 74 Days on market

Built 1965 $586/mo HOA · 20% 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 +20.3/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 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

ASK YOUR AGENT TODAY ABOUT 6 MONTHS FREE CONDO FEES! Welcome to 1601 Gainesville Street SE – a spacious and move-in ready 3-bedroom, 2.5-bath unit located on the second level. This well-maintained home features freshly and professionally painted interiors, offering a clean, modern feel throughout. With a functional layout, generous bedroom sizes, and two full bathrooms plus a convenient half bath, this unit is perfect for comfortable everyday living or entertaining. Conveniently located near public transportation, shopping, and commuter routes, this is a fantastic opportunity to own in the heart of DC. Property is being sold strictly as-is. Schedule your showing today!

Key facts

• $586 HOA
• Built 1965
• Listed 74 days

Property features AI

Finance

• Other: Pets allowed with size/weight restrictions
• HOA & community: Monthly condo fee of $586.45; Condo fee covers exterior building maintenance, water, sewer, trash, and snow removal

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer
• Home design: Condominium unit / flat; Building name: RANDLE HEIGHTS; Entry on level 2
• Construction: Brick construction
• Exterior features: Garden-style building (1–4 floors); Above grade and below grade structures present; Located within city limits

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric); Electric hot water
• Interior features: No basement; Living area reported by assessor
• Laundry & utility: No in-unit washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $207k (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.
• 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 24d 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 $2,923/mo this rent would consume 65% of the median local household income ($54k/yr) (locally 5148% 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 $2k of loan paydown is wiped out by about $7k 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 74 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $120k; list at $220k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $206,753 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.33% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.49%
• DSCR: 1.24
• GRM: 6.3

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: -6.4%
• Equity multiple: 0.76×
• Total profit: $-14,793
• Equity at exit: $32,795

10-year hold

• IRR: 4.7%
• Equity multiple: 1.36×
• Total profit: $22,320
• Equity at exit: $19,017

Cash invested: $61,586 (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: 6.3×

Monthly cashflow live

• Estimated rent: $2,923 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$197 /mo · $2,358/yr
• Insurance: −$92
• HOA: −$586
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $282

Break-even live

Break-even rent $2,567

Max offer price $219,950

Occupancy floor 85%

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: $54,988
• Closing costs: $6,598
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1722 Gainesville St SE Washington, DC	4.0	2.5	2000	$3,490	$1.75	24d	1	0.07mi
2390 Elvans Rd SE Washington, DC	3.0	2.5	2176	$3,190	$1.47	7d	1	0.21mi
2460 James Bank Rd SE Washington, DC	3.0	3.5	1687	$3,190	$1.89	14d	1	0.28mi
1527 Morris Rd SE Washington, DC	3.0	2.5	1508	$2,700	$1.79	7d	1	0.31mi
1851 Tubman Rd SE Washington, DC	3.0	2.0	1689	$3,200	$1.89	24d	1	0.41mi
1750 Galen St SE Washington, DC	3.0	3.0	1138	$2,300	$2.02	3d	1	0.47mi
3243 15th Pl SE Washington, DC	2.0	2.0	1248	$2,500	$2.00	24d	1	0.49mi
1705 W St SE Washington, DC	4.0	2.0	1550	$2,500	$1.61	2d	1	0.53mi
1505 West St SE Unit 1 Washington, DC	3.0	2.5	2100	$3,300	$1.57	1d	1	0.61mi
1351 Morris Rd SE Unit Upstairs Washington, DC	3.0	2.0	1522	$2,700	$1.77	4d	1	0.64mi
2227 14th St SE Washington, DC	3.0	1.0	1222	$2,495	$2.04	24d	1	0.65mi
1328 Morris Rd SE Washington, DC	3.0	2.5	1372	$3,250	$2.37	17d	1	0.66mi
1308 Talbert Ct SE Washington, DC	3.0	2.5	1446	$2,995	$2.07	5d	1	0.67mi
2648 Bowen Rd SE Washington, DC	3.0	1.5	1220	$2,500	$2.05	24d	1	0.67mi
1325 Valley Pl SE Washington, DC	4.0	2.0	2138	$6,500	$3.04	24d	1	0.68mi
1300 Dexter Ter SE Washington, DC	2.0	1.5	1100	$2,600	$2.36	24d	1	0.68mi
1430 V St SE Washington, DC	3.0	2.0	1680	$3,100	$1.85	24d	1	0.72mi
2501 Sayles Pl SE #9 Washington, DC	2.0	2.0	1157	$2,500	$2.16	24d	1	0.75mi
2501 Sayles Pl SE #9 Washington, DC	2.0	2.0	1157	$2,500	$2.16	10d	1	0.75mi
2300 Good Hope Rd SE Washington, DC	2.0	1.0–2.0	1020	$1,913	$1.88	24d	6	0.76mi
2202 U Pl SE Washington, DC	2.0	1.5	1232	$3,500	$2.84	24d	1	0.78mi
3459 23rd St SE Washington, DC	2.0	1.0	1200	$2,100	$1.75	5d	1	0.79mi
1919 16th St SE Washington, DC	3.0	1.5	1920	$2,100	$1.09	24d	1	0.81mi
1516 Marion Barry Ave SE Unit 301 Washington, DC	3.0	2.0	1100	$1,795	$1.63	7d	1	0.81mi
1201 Oak Dr SE Washington, DC	3.0	1.0–2.0	853	$2,220	$2.60	1d	19	0.83mi
2322 Shannon Pl SE Washington, DC	3.0	3.5	1800	$2,800	$1.56	24d	1	0.86mi
1214 U St SE Washington, DC	3.0	2.5	1350	$3,375	$2.50	24d	1	0.90mi
3150 Buena Vista Ter SE Apt 6 Washington, DC	4.0	1.0	1398	$4,250	$3.04	24d	1	0.91mi
1802 14th St SE Washington, DC	3.0	2.0	1800	$2,800	$1.56	24d	1	0.92mi
1634 Ridge Pl SE Washington, DC	3.0	3.5	1248	$3,200	$2.56	24d	1	0.96mi
1938 S St SE Washington, DC	3.0	2.0	1522	$2,999	$1.97	24d	1	0.97mi
802 Malcolm X Ave SE Washington, DC	4.0	1.0	1140	$3,150	$2.76	24d	1	0.99mi
2913 8th St SE #3101 Washington, DC	2.0	2.0	1100	$2,400	$2.18	13d	1	1.00mi
615 Malcolm X Ave SE Unit F Washington, DC	3.0	1.0	1100	$2,508	$2.28	2d	1	1.10mi
3210 8th St SE #1 Washington, DC	2.0	2.0	1106	$2,395	$2.17	24d	1	1.12mi
3010 V Pl SE Washington, DC	4.0	3.0	2232	$3,500	$1.57	24d	1	1.13mi
1516 18th St SE Washington, DC	3.0	2.0	1941	$3,200	$1.65	24d	1	1.14mi
2612 33rd St SE Washington, DC	3.0	3.0	1826	$3,529	$1.93	24d	1	1.15mi
407 Lebaum St SE Unit 4 Washington, DC	2.0	1.0	1192	$2,100	$1.76	24d	1	1.19mi
1800 28th Pl SE #201 Washington, DC	3.0	2.0	1132	$2,800	$2.47	2d	1	1.21mi

HOA detail condo

• Monthly dues: $586 · $7,032/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-05-11
   status Pending
2. 2026-04-06
   price $219,950
3. 2026-02-26
   listed $224,950 Active
4. 2026-02-26
   historical
5. 2025-12-24
   price $224,950
6. 2025-11-21
   price $234,950
7. 2025-11-14
   status Active
8. 2025-10-02
   status Active Under Contract
9. 2025-09-30
   historical
10. 2025-09-11
    price $239,950
11. 2025-07-12
    price $249,950
12. 2025-06-12
    price $254,950
13. 2025-05-06
    price $269,950
14. 2025-04-03
    listed $289,950 Active
15. 2003-12-08
    soldstatus $120,000

ⓘ 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: $2,358 · $197/mo
• Projected year-2 tax: $2,358 · $197/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: $35,078
• − Mortgage interest: −$12,321
• − Property taxes: −$2,358
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,806
• − Management: −$2,806
• − HOA: −$7,032
• − Depreciation: −$6,399
• Taxable income: $256
• Est. tax owed @ 24.0%: −$62
• After-tax cash flow: $3,319/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

+83.3% since first listed

15 events — show timeline

• 2026-05-11 Pending — BRIGHT MLS
• 2026-04-06 Price Changed $219,950 BRIGHT MLS
• 2026-02-26 Listing Removed — BRIGHT MLS
• 2026-02-26 Listed $224,950 BRIGHT MLS
• 2025-12-24 Price Changed $224,950 BRIGHT MLS
• 2025-11-21 Price Changed $234,950 BRIGHT MLS
• 2025-11-14 Relisted — BRIGHT MLS
• 2025-10-02 Relisted — BRIGHT MLS
• 2025-09-30 Listing Removed — BRIGHT MLS
• 2025-09-11 Price Changed $239,950 BRIGHT MLS
• 2025-07-12 Price Changed $249,950 BRIGHT MLS
• 2025-06-12 Price Changed $254,950 BRIGHT MLS
• 2025-05-06 Price Changed $269,950 BRIGHT MLS
• 2025-04-03 Listed $289,950 BRIGHT MLS
• 2003-12-08 Sold (Public Records) $120,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $2,358 · -2.4% YoY. Source: county tax records.