1608 17th Pl SE · Washington, DC 20020

$550,000

4 bd · 4.0 ba · 2,720 sqft · MultiFamily public records · 57 Days on market

Built 1938 3,015 sqft lot Est $628k · 12% under

---

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
• ARV discount +13.1/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

no more showings. owner is considering present offers. thank you

Key facts

• 3,015 sq ft lot
• Built 1938
• Listed 57 days

Property features AI

Finance

• Other: Year built source: Assessor; Total below-grade area recorded as 320; Above-grade finished area recorded as 2,720
• Financial info: Improvement assessed value listed (assessor); Land assessed value listed (assessor)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Multi-unit property with 4 total units; Fee simple ownership
• Construction: Brick construction; Other structures include above grade and below grade
• Exterior features: Below-grade area of 320 square feet (unfinished); Above-grade finished area of 2,720 square feet; No tidal water on the lot; Soil type: Urban Land - Galestown - Rumford

Interior

• Bedrooms: Four 2-bedroom units (Unit 1, Unit 2, Unit 3, Unit 4)
• Heating & cooling: Radiator heating; Natural gas heating and hot water
• Interior features: No basement; Assessor is source for living area and finished area figures

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $536/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $550k).
• Recommended offer: $534k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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; 30 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).
• At $7,165/mo this rent would consume 159% 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 $4k of loan paydown is wiped out by about $16k 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 + 3.9% rent growth), your $154k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 33y ago; this cycle's ask has dropped $29k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $195k; list at $550k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — 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 $533,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1938 — 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: 1.30% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.71%
• DSCR: 1.74
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $628,320
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1515 17th St SE	0.10mi	4/—	2,720 (0%)	3mo	$492,500	$181	93
2726 Fort Baker Dr SE	0.69mi	5/— (+1)	2,572 (-5%)	4mo	$623,000	$242	51
2728 Minnesota Ave SE	0.73mi	5/4.0 (+1)	2,880 (+6%)	10mo	$665,000	$231	43
2722 Fort Baker Dr SE	0.68mi	5/— (+1)	2,572 (-5%)	15mo	$550,000	$214	42
2719 Fort Baker Dr SE	0.66mi	5/3.0 (+1)	2,804 (+3%)	19mo	$670,000	$239	39

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 · 3.86% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.35×
• Total profit: $53,642
• Equity at exit: $82,007

10-year hold

• IRR: 18.7%
• Equity multiple: 2.61×
• Total profit: $248,417
• Equity at exit: $47,554

Cash invested: $154,000 (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 20020

• Rents YoY: 3.9%
• Active inventory: 296
• Price-to-rent: 25.6×

Monthly cashflow live

• Estimated rent: $7,165 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$402 /mo · $4,830/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,505
• Net cashflow: $2,144

Break-even live

Break-even rent $4,451

Max offer price $550,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,164
Total (4 units)			$7,165

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1516 18th St SE Washington, DC	3.0	2.0	1941	$3,200	$1.65	24d	1	0.12mi
1919 16th St SE Washington, DC	3.0	1.5	1920	$2,100	$1.09	24d	1	0.27mi
1802 14th St SE Washington, DC	3.0	2.0	1800	$2,800	$1.56	24d	1	0.30mi
2320 Minnesota Ave SE Washington, DC	3.0	3.5	2052	$3,150	$1.54	24d	1	0.44mi
1505 West St SE Unit 1 Washington, DC	3.0	2.5	2100	$3,300	$1.57	2d	1	0.48mi
1325 Valley Pl SE Washington, DC	4.0	2.0	2138	$6,500	$3.04	24d	1	0.65mi
816 Kentucky Ave SE Washington, DC	4.0	3.0	1800	$4,850	$2.69	3d	1	0.67mi
1354 Pennsylvania Ave SE Washington, DC	3.0	2.5	3200	$4,500	$1.41	8d	1	0.81mi
2322 Shannon Pl SE Washington, DC	3.0	3.5	1800	$2,800	$1.56	24d	1	0.81mi
2928 Nelson Pl SE Unit 1 Washington, DC	3.0	1.0	2720	$2,300	$0.85	24d	1	0.86mi
1205 30th St SE Washington, DC	3.0	1.0	3480	$1,750	$0.50	24d	1	0.89mi
1433 Howard Rd SE Washington, DC	5.0	3.5	2000	$7,500	$3.75	19d	1	0.89mi
3010 V Pl SE Washington, DC	4.0	3.0	2232	$3,500	$1.57	24d	1	0.92mi
1722 Gainesville St SE Washington, DC	4.0	2.5	2000	$3,490	$1.75	24d	1	1.01mi
1825 Massachusetts Ave SE Washington, DC	3.0	2.5	1957	$4,000	$2.04	24d	1	1.01mi
329 16th St SE Washington, DC	3.0	3.0	2000	$4,800	$2.40	24d	1	1.02mi
1016 G St SE Washington, DC	3.0	2.5	2277	$6,000	$2.64	24d	1	1.02mi
2390 Elvans Rd SE Washington, DC	3.0	2.5	2176	$3,190	$1.47	8d	1	1.10mi
2121 32nd Pl SE Unit Main Washington, DC	3.0	3.0	3100	$5,500	$1.77	22d	1	1.12mi
237 15th St SE Unit 1 Washington, DC	3.0	3.0	1938	$4,500	$2.32	24d	1	1.13mi
401 11th St SE Washington, DC	4.0	4.5	1832	$7,000	$3.82	19d	1	1.15mi
223 17th St SE #2 Washington, DC	3.0	2.5	1900	$5,200	$2.74	24d	1	1.17mi
2520 Elvans Rd SE Washington, DC	3.0	2.5	2760	$3,800	$1.38	24d	1	1.22mi
2530 Elvans Rd SE Unit B Washington, DC	5.0	3.5	2760	$7,500	$2.72	8d	1	1.23mi
1319 Massachusetts Ave SE Unit 1 Washington, DC	3.0	3.0	1880	$6,400	$3.40	16d	1	1.34mi
1319 Massachusetts Ave SE Washington, DC	3.0	3.0	2578	$6,000	$2.33	24d	1	1.34mi
777 C St SE Washington, DC	2.0–3.0	2.0–3.0	1839	$14,994	$8.15	3d	3	1.36mi
2612 33rd St SE Washington, DC	3.0	3.0	1826	$3,529	$1.93	24d	1	1.37mi
3422 Pennsylvania Ave SE Washington, DC	5.0	2.5	2520	$5,500	$2.18	20d	1	1.37mi
713 N Carolina Ave SE Unit 430P Washington, DC	3.0	2.5	1991	$6,648	$3.34	8d	1	1.46mi

Listing history 30 events

1. 2026-06-18
   days on market $550,000 Active 57 DOM
2. 2026-06-17
   days on market $550,000 Active 56 DOM
3. 2026-06-16
   days on market $550,000 Active 55 DOM
4. 2026-06-15
   days on market $550,000 Active 54 DOM
5. 2026-06-13
   pricedays on market $550,000 Active 52 DOM
6. 2026-06-09
   days on market $579,000 Active 48 DOM
7. 2026-06-08
   days on market $579,000 Active 47 DOM
8. 2026-06-07
   days on market $579,000 Active 46 DOM
9. 2026-06-04
   days on market $579,000 Active 43 DOM
10. 2026-06-03
    days on market $579,000 Active 42 DOM
11. 2026-06-02
    days on market $579,000 Active 41 DOM
12. 2026-06-01
    days on market $579,000 Active 40 DOM
13. 2026-05-31
    days on market $579,000 Active 39 DOM
14. 2026-05-12
    status Active
15. 2026-05-06
    historical Active Under Contract
16. 2026-04-17
    listed $579,000 Active
17. 2026-04-16
    historical $579,000
18. 2024-07-24
    historical $1,400
19. 2024-07-02
    listed $1,400
20. 2024-07-02
    historical $1,400
21. 2024-06-23
    listed $1,400
22. 2004-05-12
    soldstatus $195,000
23. 2004-04-30
    soldstatus $195,000 64-char remark

    Show marketing remark (64 chars)

    no more showings. owner is considering present offers. thank you

24. 2004-03-24
    historical 64-char remark

    Show marketing remark (64 chars)

    no more showings. owner is considering present offers. thank you

25. 2004-03-12
    listed $189,999 64-char remark

    Show marketing remark (64 chars)

    no more showings. owner is considering present offers. thank you

26. 1993-09-27
    soldstatus $111,000
27. 1993-09-21
    soldstatus $112,500
28. 1993-02-16
    historical
29. 1993-01-12
    listed $112,500
30. 1985-01-30
    soldstatus $72,000

ⓘ 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: $4,830 · $402/mo
• Projected year-2 tax: $4,830 · $402/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $85,980
• − Mortgage interest: −$30,809
• − Property taxes: −$4,830
• − Insurance: −$2,750
• − Repairs & maintenance: −$6,878
• − Management: −$6,878
• − Depreciation: −$16,000
• Taxable income: $17,835
• Est. tax owed @ 24.0%: −$4,280
• After-tax cash flow: $21,453/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

+704.2% since first listed

17 events — show timeline

• 2026-05-12 Relisted — BRIGHT MLS
• 2026-05-06 Contingent — BRIGHT MLS
• 2026-04-17 Listed $579,000 BRIGHT MLS
• 2026-04-16 Coming Soon $579,000 BRIGHT MLS
• 2024-07-24 Rental Removed $1,400 RENTALBEAST
• 2024-07-02 Listed for Rent $1,400 RENTALBEAST
• 2024-07-02 Rental Removed $1,400 RENTALBEAST
• 2024-06-23 Listed for Rent $1,400 RENTALBEAST
• 2004-05-12 Sold (Public Records) $195,000 Public Records
• 2004-04-30 Sold (MLS) $195,000 MRIS
• 2004-03-24 Delisted — MRIS
• 2004-03-12 Listed $189,999 MRIS
• 1993-09-27 Sold (Public Records) $111,000 Public Records
• 1993-09-21 Sold (MLS) $112,500 MRIS
• 1993-02-16 Delisted — MRIS
• 1993-01-12 Listed $112,500 MRIS
• 1985-01-30 Sold (Public Records) $72,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $4,830 · +1.9% YoY. Source: county tax records.