811 18th St NE · Washington, DC 20002

$310,000

2 bd · 2.0 ba · 1,152 sqft · MultiFamily public records · 121 Days on market

Built 1941 1,268 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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: 3 units. confirmed

Listing remarks

Approved short sale PRIME DEVELOPMENT OPPORTUNITY IN LANGSTON CARVER * Key Features * * * 3-unit residential development potential * * Brick-constructed building in good condition * * End unit with alley access * * Gutted interior with excavated crawl space (7ft clear headroom) * * Rear parking * * * This brick-constructed end-unit building offers great potential for developers and investors. Located in Langston Carver, the property is in good condition with abundant natural light and easy construction access via a south-facing alley. The building has been gutted, leaving only the exterior intact, with an excavated crawl space featuring seven feet of clear he

Key facts

• Rear parking
• Natural light
• Gutted interior

Tags

• BRICK CONSTRUCTED BUILDING
• END UNIT WITH ALLEY ACCESS
• GUTTED INTERIOR
• EXCAVATED CRAWL SPACE
• REAR PARKING
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Off-street parking available; On-street parking available
• Utilities: Public water; Public sewer; Electric service available; Natural gas available
• Home design: Brick construction; Two-unit building; Above-grade finished area about 1,152 (per assessor); Fee simple ownership
• Construction: Brick construction; Foundation listed as other; Other structures noted above and below grade
• Exterior features: End of row/townhouse; No tidal water

Interior

• Heating & cooling: Natural gas heating
• Interior features: Major rehab needed; Assessor-listed living area and finished above-grade area

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $997/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $310k).
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.9% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $6,498/mo this rent would consume 65% 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 $2k of loan paydown is wiped out by about $9k 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 + 0.0% rent growth), your $87k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask has dropped $128k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1941 — 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 $272,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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 1941 — 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: 2.10% ✓
• Cap rate: 17.87%
• Cash-on-cash: 41.35%
• DSCR: 2.84
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $657,792
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1236 Simms Pl NE	0.70mi	2/—	1,120 (-3%)	6mo	$640,000	$571	58
414 Oklahoma Ave NE	0.44mi	2/—	1,120 (-3%)	24mo	$735,000	$656	55
1719 Montello Ave NE	0.74mi	2/2.0	1,184 (+3%)	23mo	$475,000	$401	41

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: 34.5%
• Equity multiple: 2.40×
• Total profit: $121,325
• Equity at exit: $46,222

10-year hold

• IRR: 39.7%
• Equity multiple: 4.20×
• Total profit: $277,756
• Equity at exit: $26,803

Cash invested: $86,800 (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: 11.9×

Monthly cashflow live

• Estimated rent: $6,498 high
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,365
• Net cashflow: $2,991

Break-even live

Break-even rent $2,712

Max offer price $310,000

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$6,498
Total (3 units)			$6,498

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 18th St NE #6 Washington, DC	2.0	1.0	1000	$2,700	$2.70	24d	1	0.05mi
851 19th St NE #3 Washington, DC	2.0	1.0	701	$2,400	$3.42	24d	1	0.06mi
1830 I St NE #4 Washington, DC	3.0	2.0	1020	$3,295	$3.23	24d	1	0.06mi
1726 H St NE Washington, DC	1.0	1.0	1152	$1,800	$1.56	24d	1	0.07mi
1700 H St NE Washington, DC	2.0	1.0–2.0	961	$4,115	$4.28	1d	30	0.08mi
771 18th St NE Unit B Washington, DC	3.0	2.0	1200	$2,995	$2.50	24d	1	0.09mi
912 19th St NE Washington, DC	1.0	1.0	700	$1,895	$2.71	2d	1	0.09mi
1915 H St NE #3 Washington, DC	2.0	2.0	896	$2,550	$2.85	24d	1	0.10mi
758 19th St NE Washington, DC	1.0	1.0	1216	$1,300	$1.07	24d	1	0.10mi
1701 H St NE Washington, DC	2.0	1.0–2.0	832	$3,691	$4.44	1d	19	0.13mi
1822 Maryland Ave NE Washington, DC	1.0	1.5	750	$1,329	$1.77	1d	1	0.14mi
1011 18th St NE Washington, DC	1.0	2.0	850	$2,200	$2.59	24d	1	0.14mi
840 21st St NE Washington, DC	2.0	1.0	900	$2,195	$2.44	24d	1	0.14mi
1015 18th St NE Unit 3 Washington, DC	2.0	1.0	875	$2,500	$2.86	24d	1	0.14mi
1827 Benning Rd NE Unit 403 Washington, DC	1.0	1.0	719	$1,495	$2.08	21d	1	0.15mi
1827 Benning Rd NE Unit 102 Washington, DC	1.0	1.0	750	$1,395	$1.86	24d	1	0.15mi
1018 18th St NE Apt 1 Washington, DC	2.0	1.0	1100	$2,650	$2.41	21d	1	0.16mi
1658 K St NE #5 Washington, DC	2.0	2.0	862	$2,500	$2.90	21d	1	0.17mi
1915 Benning Rd NE Unit PENTHOUSE Washington, DC	2.0	2.0	1269	$2,900	$2.29	5d	1	0.18mi
1676 Maryland Ave NE Washington, DC	2.0	1.0–2.0	827	$2,330	$2.82	1d	1	0.18mi
1729 Gales Pl NE Washington, DC	1.0	1.0	1120	$1,850	$1.65	7d	1	0.20mi
725 20th St NE Apt 2 Washington, DC	2.0	1.0	791	$2,400	$3.03	24d	1	0.20mi
2013 Benning Rd NE #8 Washington, DC	2.0	2.5	1300	$2,900	$2.23	24d	1	0.20mi
1019 17th Pl NE #401 Washington, DC	2.0	2.0	975	$2,770	$2.84	11d	1	0.22mi
1101 19th St NE Washington, DC	1.0	1.0	637	$1,570	$2.46	7d	2	0.23mi
1702 Gales St NE Unit 3 Washington, DC	1.0	1.0	700	$1,250	$1.79	24d	1	0.23mi
2031 Benning Rd NE Unit B Washington, DC	2.0	1.0	765	$2,600	$3.40	24d	1	0.23mi
1113 19th St NE Unit 1105 3 Washington, DC	1.0	1.0	725	$1,495	$2.06	5d	1	0.25mi
1648 L St NE Washington, DC	2.0	1.5	912	$2,499	$2.74	24d	1	0.26mi
1661 Gales St NE #1 Washington, DC	2.0	3.0	1440	$2,500	$1.74	24d	1	0.26mi
721 16th St NE Apt 3 Washington, DC	2.0	1.0	701	$2,400	$3.42	24d	1	0.27mi
639 20th St NE Unit NA Washington, DC	2.0	1.5	930	$2,999	$3.22	24d	1	0.28mi
2015 Gales St NE Washington, DC	2.0	1.5	932	$2,990	$3.21	13d	1	0.28mi
1521 Benning Rd NE Washington, DC	1.0–3.0	1.0–1.5	830	$1,588	$1.91	24d	1	0.28mi
1742 Lyman Pl NE Washington, DC	3.0	3.0	1196	$3,495	$2.92	24d	1	0.29mi
1143 19th St NE Washington, DC	3.0	1.0	1024	$4,000	$3.91	24d	1	0.29mi
1656 Kramer St NE Washington, DC	2.0	2.0	1440	$2,750	$1.91	24d	1	0.30mi
1028 Bladensburg Rd NE Washington, DC	3.0	2.0	1067	$2,800	$2.62	7d	1	0.30mi
1901 Rosedale St NE Unit 3 Washington, DC	3.0	1.0	780	$3,200	$4.10	24d	1	0.30mi
1901 Rosedale St NE Apt 2 Washington, DC	2.0	1.0	780	$2,600	$3.33	24d	1	0.30mi

Listing history 37 events

1. 2026-06-18
   days on market $310,000 Active 121 DOM
2. 2026-06-17
   days on market $310,000 Active 120 DOM
3. 2026-06-16
   days on market $310,000 Active 119 DOM
4. 2026-06-15
   days on market $310,000 Active 118 DOM
5. 2026-06-13
   days on market $310,000 Active 116 DOM
6. 2026-06-09
   days on market $310,000 Active 112 DOM
7. 2026-06-08
   days on market $310,000 Active 111 DOM
8. 2026-06-07
   pricestatusdays on market $310,000 Active 110 DOM
9. 2025-12-23
   historical Active Under Contract
10. 2025-10-16
    price $369,900
11. 2025-09-21
    price $399,900
12. 2025-09-05
    listed $438,000 Active
13. 2025-07-31
    historical
14. 2025-05-30
    price $438,000
15. 2025-05-30
    status Active
16. 2025-05-30
    historical
17. 2025-05-28
    listed $438,000 Active
18. 2025-05-28
    historical
19. 2025-03-27
    listed $498,000 Active
20. 2020-12-22
    soldstatus $433,540
21. 2020-12-22
    soldstatus $433,540
22. 2020-11-20
    soldstatus $433,540 Closed
23. 2020-10-01
    status Pending
24. 2020-09-15
    listed $250,000 Active
25. 2020-09-09
    historical
26. 2020-09-07
    price $545,000
27. 2020-09-01
    price $575,000
28. 2020-08-24
    listed $590,000 Active
29. 2020-02-17
    historical
30. 2020-01-28
    price $539,000
31. 2020-01-22
    price $599,000
32. 2020-01-22
    price $620,000
33. 2020-01-15
    listed $680,000 Active
34. 2019-12-18
    soldstatus $440,000
35. 2019-11-20
    soldstatus $399,000
36. 1996-02-12
    soldstatus $43,000
37. 1984-12-24
    soldstatus $42,500

ⓘ 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 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: $77,976
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$6,238
• − Management: −$6,238
• − Depreciation: −$9,018
• Taxable income: $32,917
• Est. tax owed @ 24.0%: −$7,900
• After-tax cash flow: $27,993/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

+770.4% since first listed

29 events — show timeline

• 2025-12-23 Contingent — BRIGHT MLS
• 2025-10-16 Price Changed $369,900 BRIGHT MLS
• 2025-09-21 Price Changed $399,900 BRIGHT MLS
• 2025-09-05 Listed $438,000 BRIGHT MLS
• 2025-07-31 Listing Removed — BRIGHT MLS
• 2025-05-30 Price Changed $438,000 BRIGHT MLS
• 2025-05-30 Relisted — BRIGHT MLS
• 2025-05-30 Listing Removed — BRIGHT MLS
• 2025-05-28 Listing Removed — BRIGHT MLS
• 2025-05-28 Listed $438,000 BRIGHT MLS
• 2025-03-27 Listed $498,000 BRIGHT MLS
• 2020-12-22 Sold (Public Records) $433,540 Public Records
• 2020-12-22 Sold (Public Records) $433,540 Public Records
• 2020-11-20 Sold (MLS) $433,540 BRIGHT MLS
• 2020-10-01 Pending — BRIGHT MLS
• 2020-09-15 Listed $250,000 BRIGHT MLS
• 2020-09-09 Listing Removed — BRIGHT MLS
• 2020-09-07 Price Changed $545,000 BRIGHT MLS
• 2020-09-01 Price Changed $575,000 BRIGHT MLS
• 2020-08-24 Listed $590,000 BRIGHT MLS
• 2020-02-17 Listing Removed — BRIGHT MLS
• 2020-01-28 Price Changed $539,000 BRIGHT MLS
• 2020-01-22 Price Changed $599,000 BRIGHT MLS
• 2020-01-22 Price Changed $620,000 BRIGHT MLS
• 2020-01-15 Listed $680,000 BRIGHT MLS
• 2019-12-18 Sold (Public Records) $440,000 Public Records
• 2019-11-20 Sold (Public Records) $399,000 Public Records
• 1996-02-12 Sold (Public Records) $43,000 Public Records
• 1984-12-24 Sold (Public Records) $42,500 Public Records

Property tax history

+17.3%/yr

Latest (2025): $25,228 · -0.5% YoY. Source: county tax records.