428 Ridge Rd SE #305 · Washington, DC 20019

$55,700

2 bd · 1.0 ba · 634 sqft · Condo public records · 30 Days on market

Built 1958 $287/mo HOA · 18% 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
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 BR, 1 BA at an affordable price. This property has been approved as a Neighborhood Stabilization Outcome (NSO) short sale listing. A 3rd party valuation has already been completed and the list price has been approved. As-is short sale ~ approvals will be obtained within 48-72 hours.

Key facts

• $287 HOA
• Built 1958
• Listed 29 days

Property features AI

Finance

• Other: Property manager present; Pets allowed on a case-by-case basis; Below average property condition; Estimated year built and living area
• HOA & community: Monthly condo fee of $287 handled by a professional off‑site management company; Condo fee covers lawn maintenance, insurance, snow removal, trash, reserve funds, gas, and water; Ground rent paid annually

Exterior

• Parking: On-street parking; Parking lot available
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Condominium unit (Unit/Flat); Garden-style building (1–4 floors); Entry is on level 3
• Construction: Brick construction
• Exterior features: Above-grade structures; Property is not in a federal flood zone; In city limits; Use GPS for directions

Interior

• Kitchen: Kitchen integrated with dining area
• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Radiator heating (natural gas); Wall unit cooling
• Interior features: Combination kitchen and dining area; Traditional floor plan; No basement
• Laundry & utility: No in-unit washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $56k.

Deal economics

• At list price, monthly cash flow is $648 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $56k).
• Recommended offer: $55k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.2% 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: Plummer Es (203 students, 0% FRL); Sousa Ms (215 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 fast (+6.1%/yr); 281 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).
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $385 of loan paydown is wiped out by about $2k 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 + 6.1% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago 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.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $54,864 (1.5% below list)

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.94% ✓
• Cap rate: 20.25%
• Cash-on-cash: 49.84%
• DSCR: 3.22
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.06% rent growth · sell at horizon

5-year hold

• IRR: 51.9%
• Equity multiple: 3.41×
• Total profit: $37,613
• Equity at exit: $8,305

10-year hold

• IRR: 58.8%
• Equity multiple: 8.01×
• Total profit: $109,345
• Equity at exit: $4,816

Cash invested: $15,596 (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 20019

• Rents YoY: 6.1%
• Active inventory: 281
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,638 high
• Mortgage (P&I): −$292
• Tax from tax record: −$44 /mo · $530/yr
• Insurance: −$23
• HOA: −$287
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $648

Break-even live

Break-even rent $818

Max offer price $55,700

Occupancy floor 55%

Sensitivity live

Price	-10% $679	-5% $664	+0% $648	+5% $632	+10% $616
Rent	-10% $518	-5% $583	+0% $648	+5% $712	+10% $777
Rate	-1.0pp $676	-0.5pp $662	base $648	+0.5pp $633	+1.0pp $619

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: $13,925
• Closing costs: $1,671
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3738 D St SE Washington, DC	1.0–2.0	1.0	542	$1,549	$2.86	8d	12	0.12mi
429 Burbank St SE Apt 4 Washington, DC	1.0	1.0	594	$1,235	$2.08	25d	1	0.20mi
305 37th St SE Washington, DC	1.0–2.0	1.0–1.5	787	$1,550	$1.97	25d	1	0.36mi
3600 Ely Pl SE Washington, DC	1.0–3.0	1.0	719	$2,088	$2.90	4d	10	0.40mi
301 Anacostia Rd SE Unit 2 BEDROOM Washington, DC	2.0	1.0	600	$1,300	$2.17	25d	1	0.42mi
4040 E Capitol St NE Washington, DC	1.0–2.0	1.0–1.5	716	$1,608	$2.24	8d	1	0.44mi
3516 Ely Pl SE Unit 4 Washington, DC	1.0	1.0	700	$1,450	$2.07	25d	1	0.44mi
319 Anacostia Rd SE Unit 1 Washington, DC	2.0	1.0	724	$1,035	$1.43	25d	1	0.45mi
3539 A St SE Washington, DC	1.0–2.0	1.0–2.0	807	$1,403	$1.74	19d	1	0.51mi
4805 Texas Ave SE Washington, DC	1.0–2.0	1.0	775	$1,400	$1.81	25d	1	0.55mi
3427 B St SE Unit 4 Washington, DC	1.0	1.0	558	$1,300	$2.33	25d	1	0.56mi
3315 Dubois Pl SE Washington, DC	1.0	1.0	650	$1,000	$1.54	25d	1	0.65mi
4511 B St SE Washington, DC	1.0–2.0	1.0	675	$1,650	$2.44	25d	2	0.65mi
165 35th St NE Unit 2 Washington, DC	1.0	1.0	700	$1,495	$2.14	25d	1	0.66mi
165 35th St NE Unit 3 Washington, DC	1.0	1.0	750	$1,625	$2.17	25d	1	0.66mi
3313 C St SE Washington, DC	1.0–2.0	1.0	750	$1,343	$1.79	2d	2	0.66mi
4701 Benning Rd SE Washington, DC	1.0	1.0	600	$1,100	$1.83	25d	1	0.66mi
195 35th St NE Unit 1 Washington, DC	2.0	1.0	716	$1,800	$2.51	25d	1	0.67mi
4236 Benning Rd NE Washington, DC	1.0	1.0	700	$1,095	$1.56	5d	1	0.68mi
212 36th St NE #1 Washington, DC	2.0	1.0	750	$2,550	$3.40	25d	1	0.68mi
212 36th St NE #3 Washington, DC	3.0	1.0	750	$3,450	$4.60	25d	1	0.68mi
4800 C St SE #302 Washington, DC	1.0	1.0	502	$1,440	$2.87	25d	1	0.72mi
4732 Benning Rd SE #102 Washington, DC	1.0	1.0	581	$1,150	$1.98	25d	1	0.73mi
4820 C St SE #304 Washington, DC	2.0	1.0	635	$1,600	$2.52	25d	1	0.75mi
140 Kenilworth Ave NE Unit 3B Washington, DC	1.0	1.0	455	$1,160	$2.55	25d	1	0.77mi
140 Kenilworth Ave NE Unit 1A Washington, DC	2.0	1.0	573	$1,567	$2.73	25d	1	0.77mi
4601 Blaine St NE Unit 1 Washington, DC	2.0	1.0	750	$1,500	$2.00	25d	1	0.77mi
208 Kenilworth Ave NE Unit 3B Washington, DC	1.0	1.0	465	$1,122	$2.41	25d	1	0.77mi
208 Kenilworth Ave NE Unit 1C Washington, DC	1.0	1.0	465	$1,163	$2.50	25d	1	0.77mi
324 Saint Louis St SE Washington, DC	2.0	1.0	640	$1,750	$2.73	8d	1	0.79mi
3306 E Capitol St NE Unit C Washington, DC	1.0	1.0	525	$1,175	$2.24	4d	1	0.80mi
3208 E Capitol St NE Unit C Washington, DC	1.0	1.0	510	$1,175	$2.30	4d	1	0.84mi
3206 E Capitol St NE Apt D Washington, DC	1.0	1.0	510	$1,291	$2.53	25d	1	0.85mi
4255 Eads St NE Unit 3 Washington, DC	2.0	1.0	610	$1,750	$2.87	23d	1	0.88mi
4919 A St SE Unit 202 Washington, DC	2.0	1.0	625	$1,900	$3.04	25d	1	0.90mi
4930 A St SE Unit 203 Washington, DC	3.0	1.0	750	$2,815	$3.75	25d	1	0.91mi
3311 Clay Pl NE Washington, DC	2.0	1.0	709	$1,995	$2.81	25d	1	0.96mi
3022 K St SE Washington, DC	1.0	1.0	675	$1,348	$2.00	6d	2	0.97mi
5045 Call Pl SE #203 Washington, DC	1.0	1.0	693	$2,000	$2.89	25d	1	0.98mi
819 51st St SE Unit 5 Washington, DC	1.0	1.0	650	$1,000	$1.54	8d	1	0.98mi

HOA detail condo

• Monthly dues: $287 · $3,444/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $55,700 Active 30 DOM
2. 2026-06-18
   days on market $55,700 Active 27 DOM
3. 2026-06-17
   days on market $55,700 Active 26 DOM
4. 2026-06-16
   days on market $55,700 Active 25 DOM
5. 2026-06-15
   days on market $55,700 Active 24 DOM
6. 2026-06-13
   days on market $55,700 Active 22 DOM
7. 2026-06-09
   days on market $55,700 Active 18 DOM
8. 2026-06-08
   days on market $55,700 Active 17 DOM
9. 2026-06-07
   days on market $55,700 Active 16 DOM
10. 2026-06-04
    days on market $55,700 Active 13 DOM
11. 2026-06-03
    days on market $55,700 Active 12 DOM
12. 2026-06-02
    days on market $55,700 Active 11 DOM
13. 2026-06-01
    days on market $55,700 Active 10 DOM
14. 2026-05-31
    days on market $55,700 Active 9 DOM
15. 2026-05-22
    listed $55,700 Active
16. 2021-09-01
    soldstatus $66,790
17. 2016-10-06
    soldstatus $47,900
18. 2016-09-30
    soldstatus $47,900 285-char remark

    Show marketing remark (285 chars)

    1 BR, 1 BA at an affordable price. This property has been approved as a Neighborhood Stabilization Outcome (NSO) short sale listing. A 3rd party valuation has already been completed and the list price has been approved. As-is short sale ~ approvals will be obtained within 48-72 hours.

19. 2016-09-30
    soldstatus $47,900 Sold 285-char remark

    Show marketing remark (285 chars)

    1 BR, 1 BA at an affordable price. This property has been approved as a Neighborhood Stabilization Outcome (NSO) short sale listing. A 3rd party valuation has already been completed and the list price has been approved. As-is short sale ~ approvals will be obtained within 48-72 hours.

20. 2016-08-03
    status Contract 285-char remark

    Show marketing remark (285 chars)

    1 BR, 1 BA at an affordable price. This property has been approved as a Neighborhood Stabilization Outcome (NSO) short sale listing. A 3rd party valuation has already been completed and the list price has been approved. As-is short sale ~ approvals will be obtained within 48-72 hours.

21. 2016-06-24
    status Active 285-char remark

    Show marketing remark (285 chars)

    1 BR, 1 BA at an affordable price. This property has been approved as a Neighborhood Stabilization Outcome (NSO) short sale listing. A 3rd party valuation has already been completed and the list price has been approved. As-is short sale ~ approvals will be obtained within 48-72 hours.

22. 2016-06-04
    historical Temporarily Off-Market 285-char remark

    Show marketing remark (285 chars)

    1 BR, 1 BA at an affordable price. This property has been approved as a Neighborhood Stabilization Outcome (NSO) short sale listing. A 3rd party valuation has already been completed and the list price has been approved. As-is short sale ~ approvals will be obtained within 48-72 hours.

23. 2016-05-30
    listed $49,900 Active 285-char remark

    Show marketing remark (285 chars)

    1 BR, 1 BA at an affordable price. This property has been approved as a Neighborhood Stabilization Outcome (NSO) short sale listing. A 3rd party valuation has already been completed and the list price has been approved. As-is short sale ~ approvals will be obtained within 48-72 hours.

24. 2008-03-26
    soldstatus $90,000
25. 2008-03-21
    soldstatus $95,000 Sold
26. 2007-10-14
    historical
27. 2007-07-05
    listed $95,000
28. 1969-05-06
    soldstatus $11,000

ⓘ 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: $530 · $44/mo
• Projected year-2 tax: $530 · $44/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $19,659
• − Mortgage interest: −$3,120
• − Property taxes: −$530
• − Insurance: −$278
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − HOA: −$3,444
• − Depreciation: −$1,620
• Taxable income: $7,521
• Est. tax owed @ 24.0%: −$1,805
• After-tax cash flow: $5,968/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): 63,380
• Household income: $58,296
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 5115.0

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 (87%)
• Race & ethnicity: Black 87% Hispanic / Latino 7% Two or more races 4% White 2%
• Hispanic origin (detail): Mexican 1% Dominican 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% 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: ▼ -416.91%
• Current HPI: 326.4481
• Rent YoY: ▲ 6.06%
• 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

+406.4% since first listed

14 events — show timeline

• 2026-05-22 Listed $55,700 BRIGHT MLS
• 2021-09-01 Sold (Public Records) $66,790 Public Records
• 2016-10-06 Sold (Public Records) $47,900 Public Records
• 2016-09-30 Sold (MLS) $47,900 MRIS
• 2016-09-30 Sold (MLS) $47,900 BRIGHT MLS
• 2016-08-03 Pending — MRIS
• 2016-06-24 Relisted — MRIS
• 2016-06-04 Delisted — MRIS
• 2016-05-30 Listed $49,900 MRIS
• 2008-03-26 Sold (Public Records) $90,000 Public Records
• 2008-03-21 Sold (MLS) $95,000 MRIS
• 2007-10-14 Delisted — MRIS
• 2007-07-05 Listed $95,000 MRIS
• 1969-05-06 Sold (Public Records) $11,000 Public Records

Property tax history

-5.0%/yr

Latest (2025): $530 · -0.7% YoY. Source: county tax records.