1942 Capitol Ave NE · Washington, DC 20002

$650,000

4 bd · 4.0 ba · 2,182 sqft · MultiFamily public records · 239 Days on market

Built 1943 3,600 sqft lot Est $707k · 8% 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 +28.3/30.0
• ARV discount +11.1/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• 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: 4 units. confirmed

Listing remarks

1942 Capitol Ave NE, situated in the vibrant Ivy City neighborhood of Washington, DC. This quadruplex presents an exceptional investment opportunity! Each of the four units features 1 bedroom and 1 bathroom. Currently, units 1 and 3 are occupied, providing immediate rental income. On the other hand, units 2 and 4 offer the flexibility to customize according to your preferences and generate additional rental income. The TOPA requirements have been taken care of. You will appreciate the convenience of owning a property within walking distance to various markets, coffee shops, gyms, bars, and just minutes away from Union Market! Don't let this rare opportunity to invest in the thriving Ivy Cit

Key facts

• 3,600 sq ft lot
• Built 1943
• Listed 239 days

Tags

• IVY CITY NEIGHBORHOOD
• INVESTMENT OPPORTUNITY
• IMMEDIATE RENTAL INCOME
• FLEXIBILITY TO CUSTOMIZE
• WALKING DISTANCE TO MARKETS
• WALKING DISTANCE TO GYMS

Property features AI

Finance

• Other: Estimated year built; Property located within city limits
• Financial info: Land assessed value available; Improvement assessed value available

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Multi-unit building (4 total units); Fee simple ownership
• Construction: Brick construction; Above-grade and below-grade structures; Above-grade finished area approximately 2,182
• Exterior features: Corner location (Fenwick St and Capitol Ave); Not tidal waterfront

Interior

• Bedrooms: Four one-bedroom units (multi-unit property)
• Heating & cooling: Radiator heat; Natural gas heating; Natural gas hot water; Cooling: Other
• Interior features: Estimated living area; No basement

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/?-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $519/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $650k).
• Recommended offer: $572k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 $7,895/mo this rent would consume 79% 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 $4k of loan paydown is wiped out by about $20k 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.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 15y 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.
• Current owner paid $290k; list at $650k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — 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 $572,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 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 1943 — 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: 1.21% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.70%
• DSCR: 1.61
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $706,968
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1308 Gallaudet St NE	0.20mi	4/—	2,376 (+9%)	8mo	$770,000	$324	69
1959 Capitol Ave NE	0.02mi	4/4.0	2,496 (+14%)	11mo	$550,000	$220	66
1906 West Virginia Ave NE	0.09mi	4/4.0	2,024 (-7%)	22mo	$475,000	$235	65
1520-1524 Queen St NE	0.56mi	4/—	2,442 (+12%)	11mo	$814,000	$333	45

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $3,766
• Equity at exit: $96,917

10-year hold

• IRR: 7.0%
• Equity multiple: 1.46×
• Total profit: $83,896
• Equity at exit: $56,200

Cash invested: $182,000 (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 20002

• Rents YoY: -3.0%
• Active inventory: 548
• Price-to-rent: 27.4×

Monthly cashflow live

• Estimated rent: $7,895 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$480 /mo · $5,761/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,658
• Net cashflow: $2,077

Break-even live

Break-even rent $5,265

Max offer price $650,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	—	$7,896
Total (4 units)			$7,895

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1916 W Virginia Ave NE Unit 2 Washington, DC	3.0	2.0	1800	$2,900	$1.61	20d	1	0.08mi
1495 Gallaudet St NE Unit 1495B Washington, DC	3.0	2.5	1586	$4,141	$2.61	24d	1	0.16mi
1714 Montello Ave NE Washington, DC	4.0	3.0	2100	$4,350	$2.07	24d	1	0.26mi
1255 Raum St NE Unit 1388282P Washington, DC	2.0–8.0	1.0–5.0	3245	$6,967	$2.15	1d	2	0.34mi
1638 Trinidad Ave NE #1 Washington, DC	3.0	2.5	1780	$5,950	$3.34	18d	1	0.42mi
2218 16th St NE Washington, DC	4.0	2.5	1496	$3,400	$2.27	18d	1	0.49mi
1222 Owen Pl NE Washington, DC	4.0	2.5	2164	$3,800	$1.76	24d	1	0.52mi
1334 Downing St NE Washington, DC	3.0	1.0	1408	$3,000	$2.13	24d	1	0.52mi
1417 Montello Ave NE Washington, DC	3.0	2.5	1412	$4,995	$3.54	24d	1	0.54mi
1331 Queen St NE Washington, DC	3.0	2.0	1708	$4,600	$2.69	14d	1	0.54mi
1331 Queen St NE Washington, DC	3.0	2.0	1708	$4,600	$2.69	16d	1	0.54mi
2300 18th St NE #2300 Washington, DC	4.0	3.0	1826	$4,500	$2.46	21d	1	0.57mi
1157 Oates St NE Unit 1A Washington, DC	3.0	3.0	1400	$4,000	$2.86	24d	1	0.58mi
1704 Montana Ave NE Washington, DC	4.0	2.0	1518	$4,000	$2.64	24d	1	0.59mi
1417 Downing St NE Washington, DC	4.0	2.0	1538	$4,200	$2.73	4d	1	0.59mi
1609 Levis St NE Washington, DC	4.0	4.5	2295	$3,900	$1.70	24d	1	0.63mi
2413 14th St NE Washington, DC	1.0–5.0	1.0–2.0	1121	$2,821	$2.52	3d	46	0.66mi
1640 L St NE Washington, DC	3.0	2.0	2300	$3,700	$1.61	18d	1	0.66mi
1232 Trinidad Ave NE Unit 1 Washington, DC	3.0	2.5	1478	$4,000	$2.71	24d	1	0.69mi
1169 Morse St NE Washington, DC	3.0	3.0	2274	$4,250	$1.87	3d	1	0.72mi
1117 Montello Ave NE Washington, DC	4.0	3.5	2260	$4,500	$1.99	24d	1	0.74mi
1006 18th St NE Washington, DC	3.0	2.5	1684	$3,095	$1.84	24d	1	0.77mi
1213 Holbrook St NE #1 Washington, DC	3.0	2.5	1618	$3,850	$2.38	18d	1	0.79mi
1103 9th St NE Unit 1 DOWNSTAIRS Washington, DC	3.0	3.5	1500	$3,549	$2.37	24d	1	0.81mi
1321 I St NE Washington, DC	4.0	3.5	1809	$4,600	$2.54	24d	1	0.85mi
1241 I St NE Washington, DC	3.0	2.5	1402	$4,000	$2.85	24d	1	0.86mi
300 Neal Pl NE Washington, DC	4.0	1.0–4.0	951	$6,363	$6.69	1d	10	0.88mi
1011 8th St NE Washington, DC	3.0	2.5	1672	$4,495	$2.69	24d	1	0.88mi
1324 H St NE Unit 2 Washington, DC	4.0	1.5	2100	$4,000	$1.90	24d	1	0.89mi
1113 I St NE Washington, DC	3.0	1.0	1800	$3,325	$1.85	24d	1	0.90mi
1209 6th St NE Unit A Washington, DC	4.0	1.5	1648	$3,400	$2.06	24d	1	0.90mi
1280 Union St NE Washington, DC	1.0–3.0	1.0–3.0	1122	$8,925	$7.95	1d	22	0.93mi
847 20th St NE Washington, DC	4.0	2.5	1802	$4,100	$2.28	12d	1	0.94mi
847 20th St NE Washington, DC	3.0	2.5	1802	$4,100	$2.28	15d	1	0.94mi
1501 Harry Thomas Way NE Washington, DC	3.0	1.0–3.0	1220	$5,655	$4.64	1d	26	0.95mi
2720 10th St NE Washington, DC	3.0	1.5	1400	$1,580	$1.13	7d	1	0.96mi
721 K St NE Washington, DC	3.0	1.0	1832	$4,500	$2.46	24d	1	0.96mi
2129 4th St NE Washington, DC	4.0	3.5	2052	$4,400	$2.14	24d	1	0.97mi
2726 10th St NE Washington, DC	3.0	2.5	1400	$4,000	$2.86	24d	1	0.97mi
2104 4th St NE #1 Washington, DC	4.0	3.5	2165	$6,150	$2.84	24d	1	0.98mi

Listing history 39 events

1. 2026-06-18
   days on market $650,000 Active 239 DOM
2. 2026-06-17
   days on market $650,000 Active 238 DOM
3. 2026-06-16
   days on market $650,000 Active 237 DOM
4. 2026-06-15
   days on market $650,000 Active 236 DOM
5. 2026-06-13
   days on market $650,000 Active 234 DOM
6. 2026-06-09
   days on market $650,000 Active 230 DOM
7. 2026-06-08
   days on market $650,000 Active 229 DOM
8. 2026-06-07
   days on market $650,000 Active 228 DOM
9. 2026-06-04
   days on market $650,000 Active 225 DOM
10. 2026-06-03
    days on market $650,000 Active 224 DOM
11. 2026-06-02
    days on market $650,000 Active 223 DOM
12. 2026-06-01
    days on market $650,000 Active 222 DOM
13. 2026-05-31
    days on market $650,000 Active 221 DOM
14. 2025-10-22
    listed $650,000 Active
15. 2025-09-30
    historical
16. 2025-06-05
    price $735,900
17. 2024-12-05
    price $749,900
18. 2024-10-11
    status Active
19. 2024-10-10
    historical
20. 2024-10-09
    listed $765,000 Active
21. 2024-09-30
    historical
22. 2024-08-30
    price $789,900
23. 2024-06-11
    price $799,900
24. 2024-05-16
    listed $895,000 Active
25. 2024-05-15
    historical
26. 2022-02-13
    price $1,200
27. 2013-01-02
    soldstatus $290,000
28. 2012-12-26
    soldstatus $290,000 Sold
29. 2012-12-26
    soldstatus $290,000
30. 2012-12-08
    status Contingent (No Kick Out)
31. 2012-12-06
    historical
32. 2012-08-18
    listed $299,900 Active
33. 2012-08-18
    listed $299,900
34. 2012-08-02
    historical Withdrawn
35. 2012-08-01
    historical
36. 2012-07-03
    status Active
37. 2012-07-01
    historical Expired
38. 2011-09-09
    listed Active
39. 2011-09-09
    listed $314,999

ⓘ 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: $5,761 · $480/mo
• Projected year-2 tax: $5,761 · $480/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 ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $94,740
• − Mortgage interest: −$36,410
• − Property taxes: −$5,761
• − Insurance: −$3,250
• − Repairs & maintenance: −$7,579
• − Management: −$7,579
• − Depreciation: −$18,909
• Taxable income: $15,252
• Est. tax owed @ 24.0%: −$3,660
• After-tax cash flow: $21,269/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

+106.3% since first listed

26 events — show timeline

• 2025-10-22 Listed $650,000 BRIGHT MLS
• 2025-09-30 Listing Removed — BRIGHT MLS
• 2025-06-05 Price Changed $735,900 BRIGHT MLS
• 2024-12-05 Price Changed $749,900 BRIGHT MLS
• 2024-10-11 Relisted — BRIGHT MLS
• 2024-10-10 Listing Removed — BRIGHT MLS
• 2024-10-09 Listed $765,000 BRIGHT MLS
• 2024-09-30 Listing Removed — BRIGHT MLS
• 2024-08-30 Price Changed $789,900 BRIGHT MLS
• 2024-06-11 Price Changed $799,900 BRIGHT MLS
• 2024-05-16 Listed $895,000 BRIGHT MLS
• 2024-05-15 Coming Soon — BRIGHT MLS
• 2022-02-13 Price Changed $1,200 RENT.
• 2013-01-02 Sold (Public Records) $290,000 Public Records
• 2012-12-26 Sold (MLS) $290,000 BRIGHT MLS
• 2012-12-26 Sold (MLS) $290,000 MRIS
• 2012-12-08 Pending — MRIS
• 2012-12-06 Listing Removed — BRIGHT MLS
• 2012-08-18 Listed $299,900 MRIS
• 2012-08-18 Listed $299,900 BRIGHT MLS
• 2012-08-02 Delisted — MRIS
• 2012-08-01 Listing Removed — BRIGHT MLS
• 2012-07-03 Relisted — MRIS
• 2012-07-01 Delisted — MRIS
• 2011-09-09 Listed — MRIS
• 2011-09-09 Listed $314,999 BRIGHT MLS

Property tax history

+4.8%/yr

Latest (2025): $5,761 · +2.5% YoY. Source: county tax records.