2656 Bowen Rd SE #402 · Washington, DC 20020

$99,000

2 bd · 1.0 ba · 798 sqft · Condo public records · 104 Days on market

Built 2002 $238/mo HOA · 11% of rent

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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
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor delight in the rapidly growing Southeast DC market! Come make your best offer on this 2-bedroom, 1-bath condo. Unit features a functional layout with open living and dining areas, generous natural light, and a private balcony perfect for morning coffee or relaxing after work. Strong rental potential — the previous tenant paid $1,500 per month, and the seller is motivated to move forward. Great value for the area and an excellent entry point into the DC real estate market. Unit is not FHA or conventional loan approved. For further information, call or text agent.

Key facts

• Private balcony
• $238 HOA
• Parking

Tags

• PRIVATE BALCONY
• OPEN LIVING AND DINING AREAS
• GENEROUS NATURAL LIGHT
• STRONG RENTAL POTENTIAL

Property features AI

Finance

• HOA & community: Condo fee $238 per month; Professional off-site management; Condo fee includes trash, snow removal, and sewer; Community laundry facilities

Exterior

• Parking: Assigned parking space P23 in a parking lot (1 assigned space)
• Utilities: Public water; Public sewer; Electric cooling; Natural gas for heating and hot water
• Home design: Unit/Flat; Entry on 4th floor; Pet-friendly (case-by-case)
• Construction: Brick construction
• Exterior features: Brick construction; Not in a federal flood zone; Above-grade and below-grade structures noted

Interior

• Kitchen: Built-in microwave; Dishwasher; Refrigerator; Freezer; Stove
• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Condominium unit in a garden-style building (1–4 floors); No basement; Total of 3 rooms
• Laundry & utility: No washer/dryer hookup in unit; Laundry facilities available in the community

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $846 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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.
• Zoned schools: Capitol Hill Montessori School At Logan (424 students, 0% FRL); Kramer Ms (203 students, 0% FRL); Anacostia Hs (287 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.9%/yr); 298 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $2,168/mo this rent would consume 48% 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 $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 12y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.19% ✓
• Cap rate: 16.55%
• Cash-on-cash: 36.62%
• DSCR: 2.63
• GRM: 3.8

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: 33.6%
• Equity multiple: 2.44×
• Total profit: $39,871
• Equity at exit: $14,761

10-year hold

• IRR: 41.1%
• Equity multiple: 5.06×
• Total profit: $112,583
• Equity at exit: $8,560

Cash invested: $27,720 (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: 298
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,168 high
• Mortgage (P&I): −$519
• Tax from tax record: −$68 /mo · $818/yr
• Insurance: −$41
• HOA: −$238
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $846

Break-even live

Break-even rent $1,097

Max offer price $99,000

Occupancy floor 56%

Sensitivity live

Price	-10% $902	-5% $874	+0% $846	+5% $818	+10% $790
Rent	-10% $675	-5% $760	+0% $846	+5% $932	+10% $1,017
Rate	-1.0pp $896	-0.5pp $871	base $846	+0.5pp $820	+1.0pp $794

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 Dexter Ter SE Washington, DC	2.0	1.5	1100	$2,600	$2.36	26d	1	0.07mi
1302 Morris Rd SE Washington, DC	3.0	1.0	750	$2,400	$3.20	26d	1	0.14mi
1300 Morris Rd SE Washington, DC	2.0	1.0	650	$1,650	$2.54	0d	1	0.14mi
1300 Morris Rd SE Washington, DC	2.0	1.0	650	$1,499	$2.31	26d	1	0.14mi
2228 Martin Luther King Jr Ave SE Washington, DC	1.0	1.0	656	$1,795	$2.73	0d	3	0.18mi
2629 Douglass Rd SE Washington, DC	2.0–3.0	1.0–1.5	888	$1,450	$1.63	3d	13	0.31mi
1425-1429 Cedar St SE Washington, DC	1.0–2.0	1.0–2.0	736	$1,651	$2.24	0d	5	0.32mi
2609 Douglass Rd SE #402 Washington, DC	2.0	2.0	990	$2,200	$2.22	26d	1	0.32mi
1619 Butler St SE Unit 3 Washington, DC	2.0	1.0	700	$1,700	$2.43	26d	1	0.41mi
1507 Erie St SE Washington, DC	1.0	1.0	1000	$2,800	$2.80	26d	1	0.47mi
650 Howard Rd SE Washington, DC	3.0	1.0–2.0	852	$3,559	$4.17	0d	54	0.50mi
632 Howard Rd SE Unit 933 Washington, DC	2.0	2.0	942	$3,862	$4.10	23d	1	0.55mi
632 Howard Rd SE Unit 434 Washington, DC	1.0	1.0	623	$2,761	$4.43	18d	1	0.55mi
632 Howard Rd SE Unit 1142 Washington, DC	1.0	1.0	809	$2,761	$3.41	19d	1	0.55mi
632 Howard Rd SE Unit 338 Washington, DC	2.0	2.0	926	$3,862	$4.17	18d	1	0.55mi
632 Howard Rd SE Unit 532 Washington, DC	2.0	2.0	942	$3,862	$4.10	19d	1	0.55mi
632 Howard Rd SE Unit 633 Washington, DC	2.0	2.0	942	$3,862	$4.10	21d	1	0.55mi
632 Howard Rd SE Washington, DC	2.0	1.0–2.0	673	$4,100	$6.09	22d	112	0.55mi
632 Howard Rd SE Unit 531 Washington, DC	1.0	1.0	632	$2,761	$4.37	21d	1	0.55mi
1526 V St SE Unit 2 Washington, DC	2.0	1.0	800	$1,700	$2.12	26d	1	0.56mi
600 Howard Rd SE Washington, DC	2.0	1.0–2.5	805	$6,344	$7.88	3d	89	0.57mi
2341 Green St SE Washington, DC	2.0	1.0	741	$1,225	$1.65	26d	1	0.59mi
1516 Marion Barry Ave SE Unit 301 Washington, DC	3.0	2.0	1100	$1,795	$1.63	9d	1	0.61mi
1600 Marion Barry Ave SE Unit Basement -B01 Washington, DC	1.0	1.0	550	$1,550	$2.82	26d	1	0.66mi
1721 T St SE Washington, DC	1.0–2.0	1.0	785	$1,980	$2.52	23d	6	0.77mi
1847 Marion Barry Ave SE Washington, DC	1.0–2.0	1.0	725	$1,525	$2.10	26d	1	0.79mi
1737 T St SE Washington, DC	2.0	1.0	800	$2,500	$3.12	5d	1	0.79mi
1642 16th St SE #3 Washington, DC	2.0	1.0	870	$2,000	$2.30	21d	1	0.80mi
1953 19th Pl SE Apt 301 Washington, DC	3.0	1.0	980	$5,301	$5.41	26d	1	0.82mi
1953 19th Pl SE Apt 104 Washington, DC	3.0	1.0	980	$2,800	$2.86	7d	1	0.82mi
1721 Minnesota Ave SE Washington, DC	3.0	1.0	680	$1,450	$2.13	26d	1	0.84mi
1907 Good Hope Ct SE #7 Washington, DC	1.0	1.0	578	$1,500	$2.60	26d	1	0.84mi
1907 Good Hope Ct SE #309 Washington, DC	2.0	1.0	670	$1,595	$2.38	26d	1	0.84mi
1907 Marion Barry Ave SE Washington, DC	2.0	1.0	900	$1,495	$1.66	26d	1	0.84mi
1622 17th St SE Unit 2001 Washington, DC	2.0	1.0	535	$1,850	$3.46	26d	1	0.88mi
1609 17th St SE #202 Washington, DC	2.0	1.0	718	$1,950	$2.72	16d	1	0.88mi
1609 17th St SE #202 Washington, DC	2.0	1.0	718	$1,950	$2.72	26d	1	0.88mi
1720 R St SE Washington, DC	3.0	1.0	750	$2,500	$3.33	26d	1	0.88mi
1601 17th St SE Washington, DC	1.0	1.0	720	$1,650	$2.29	26d	1	0.88mi
1621 17th Pl SE Apt 3 Washington, DC	1.0	1.0	720	$1,300	$1.81	26d	1	0.90mi

HOA detail condo

• Monthly dues: $238 · $2,856/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 47 events

1. 2026-06-21
   days on market $99,000 Active 104 DOM
2. 2026-06-18
   days on market $99,000 Active 101 DOM
3. 2026-06-17
   days on market $99,000 Active 100 DOM
4. 2026-06-16
   days on market $99,000 Active 99 DOM
5. 2026-06-15
   days on market $99,000 Active 98 DOM
6. 2026-06-13
   pricedays on market $99,000 Active 96 DOM
7. 2026-06-09
   days on market $109,900 Active 92 DOM
8. 2026-06-08
   days on market $109,900 Active 91 DOM
9. 2026-06-07
   days on market $109,900 Active 90 DOM
10. 2026-06-04
    days on market $109,900 Active 87 DOM
11. 2026-06-03
    days on market $109,900 Active 86 DOM
12. 2026-06-02
    days on market $109,900 Active 85 DOM
13. 2026-06-01
    days on market $109,900 Active 84 DOM
14. 2026-05-31
    days on market $109,900 Active 83 DOM
15. 2026-03-09
    listed $109,900 Active
16. 2026-03-05
    historical
17. 2026-02-17
    price $109,990
18. 2025-12-02
    listed $114,990 Active
19. 2025-02-06
    historical $1,495
20. 2025-01-04
    price $1,495
21. 2025-01-03
    historical $1,495
22. 2025-01-03
    listed $1,495
23. 2024-12-29
    price $1,575
24. 2024-12-29
    historical $1,575
25. 2024-12-11
    listed $1,575
26. 2024-07-24
    listed $1,600
27. 2024-07-24
    historical $1,600
28. 2024-07-23
    listed $1,600
29. 2024-06-04
    historical
30. 2024-04-17
    listed $75,000 Active
31. 2022-08-08
    historical
32. 2022-08-02
    listed $164,500 Active
33. 2019-03-21
    soldstatus $90,000
34. 2019-03-18
    historical
35. 2018-10-31
    soldstatus $90,000 Closed
36. 2018-07-05
    status Pending
37. 2018-06-20
    price $84,990
38. 2018-06-11
    price $99,000
39. 2018-05-23
    price $114,990
40. 2018-05-23
    status Active
41. 2017-12-15
    historical
42. 2017-12-01
    listed $52,900
43. 2014-08-26
    historical Expired
44. 2014-08-26
    historical
45. 2014-04-07
    listed Active
46. 2014-04-07
    listed $229,900
47. 2002-07-10
    soldstatus $39,333

ⓘ 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: $818 · $68/mo
• Projected year-2 tax: $818 · $68/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: $26,013
• − Mortgage interest: −$5,546
• − Property taxes: −$818
• − Insurance: −$495
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − HOA: −$2,856
• − Depreciation: −$2,880
• Taxable income: $9,256
• Est. tax owed @ 24.0%: −$2,221
• After-tax cash flow: $7,930/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

+179.4% since first listed

33 events — show timeline

• 2026-03-09 Listed $109,900 BRIGHT MLS
• 2026-03-05 Listing Removed — BRIGHT MLS
• 2026-02-17 Price Changed $109,990 BRIGHT MLS
• 2025-12-02 Listed $114,990 BRIGHT MLS
• 2025-02-06 Rental Removed $1,495 APPFOLIO
• 2025-01-04 Price Changed $1,495 APPFOLIO
• 2025-01-03 Rental Removed $1,495 BRIGHTMLS
• 2025-01-03 Listed for Rent $1,495 BRIGHTMLS
• 2024-12-29 Price Changed $1,575 APPFOLIO
• 2024-12-29 Rental Removed $1,575 BRIGHTMLS
• 2024-12-11 Listed for Rent $1,575 BRIGHTMLS
• 2024-07-24 Listed for Rent $1,600 APPFOLIO
• 2024-07-24 Rental Removed $1,600 BRIGHTMLS
• 2024-07-23 Listed for Rent $1,600 BRIGHTMLS
• 2024-06-04 Listing Removed — BRIGHT MLS
• 2024-04-17 Listed $75,000 BRIGHT MLS
• 2022-08-08 Listing Removed — BRIGHT MLS
• 2022-08-02 Listed $164,500 BRIGHT MLS
• 2019-03-21 Sold (Public Records) $90,000 Public Records
• 2019-03-18 Listing Removed — BRIGHT MLS
• 2018-10-31 Sold (MLS) $90,000 BRIGHT MLS
• 2018-07-05 Pending — BRIGHT MLS
• 2018-06-20 Price Changed $84,990 BRIGHT MLS
• 2018-06-11 Price Changed $99,000 BRIGHT MLS
• 2018-05-23 Price Changed $114,990 BRIGHT MLS
• 2018-05-23 Relisted — BRIGHT MLS
• 2017-12-15 Listing Removed — BRIGHT MLS
• 2017-12-01 Listed $52,900 BRIGHT MLS
• 2014-08-26 Delisted — MRIS
• 2014-08-26 Listing Removed — BRIGHT MLS
• 2014-04-07 Listed — MRIS
• 2014-04-07 Listed $229,900 BRIGHT MLS
• 2002-07-10 Sold (Public Records) $39,333 Public Records

Property tax history

-2.4%/yr

Latest (2025): $818 · -0.3% YoY. Source: county tax records.