1111 Arlington Blvd #317

Arlington, VA 22209

$150,000C-

1 bd · 1.0 ba · 559 sqft · Built 1955 · Condo · Active · 247 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,977/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$189
• HOA: −$606
• Vac / Maint / Mgmt: −$415
• Net cashflow: $-20/mo
• Annual: $-240/yr
• Cap rate: 6.13%
• Cash-on-cash: -0.57%
• DSCR: 0.97
• 1% rule: 1.32%
• Cash to close: $42,000

Investor read

• This is a 1-bed/1.0-bath condo listed at $150k.
• At list price, monthly cash flow is $-20 ($-240/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (2.4% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 247 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($1k loan paydown + $32 appreciation (0.0% local appreciation)).
• Location reads 86/100 on livability (#14 in VA, #387 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Arlington County Public School District (urban): math 65% / reading 77% proficiency, ranked #8 of 131 in VA (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: HOA is 31% of rent; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 105 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); high-income renter base; 621 units permitted in Arlington County in 2024 (429 in 5+ unit buildings).
• Arlington County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 13 sale attempts since 25y ago; this cycle's ask is 8233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 1.7% in Arlington — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?