2513-15 22nd St NE · Washington, DC 20018

$800,000

2 bd · 2.0 ba · 1,360 sqft · MultiFamily public records · 43 Days on market

Built 1941 3,750 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Value-add opportunity in Woodridge. 2513 22nd St NE (2 units) and 2515 22nd St NE (4 units) are being sold together for a total price of $800,000. All 6 units across both buildings are configured as one bedroom + den / one bath apartments but it is possible to add bedrooms in all units. The buildings have large unfinished basements that can be converted into living space. There are currently 2 vacant unit, the other 4 are occupied. In-place rents range between $1,000/month and $1,384/month. Units are in good condition but dated. Electric and gas are separately metered. The lot is large and deep, measuring 7,500 SF. Zoning for both parcels is R-1B. Contact us today with any questions!

Key facts

• 3,750 sq ft lot
• Built 1941
• Listed 43 days

Property features AI

Finance

• Financial info: Two total units (multi-family); Assessor improvement and land values reported

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Semi-detached property; Fee simple ownership
• Construction: Brick construction; Brick/mortar foundation; Assessor-reported year built source
• Exterior features: No tidal water on the property; Above-grade and below-grade structures noted

Interior

• Bedrooms: Two one-bedroom units (multi-unit property)
• Heating & cooling: Hot water heating; Natural gas heating fuel; Electric cooling fuel
• Interior features: Assessor-reported living area source

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $4k ($54k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $800k).
• Recommended offer: $776k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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 flat; 114 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); solid renter incomes; 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).
• At $11,871/mo this rent would consume 157% of the median local household income ($91k/yr) (locally 919% 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 $6k of loan paydown is wiped out by about $24k 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 + 0.1% rent growth), your $224k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($776k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 1941 — 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 $776,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.48% ✓
• Cap rate: 13.03%
• Cash-on-cash: 24.07%
• DSCR: 2.07
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.06% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.55×
• Total profit: $122,207
• Equity at exit: $119,283

10-year hold

• IRR: 20.7%
• Equity multiple: 2.53×
• Total profit: $342,035
• Equity at exit: $69,169

Cash invested: $224,000 (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 20018

• Rents YoY: 0.1%
• Active inventory: 114
• Price-to-rent: 33.7×

Monthly cashflow live

• Estimated rent: $11,871 high
• Mortgage (P&I): −$4,195
• Tax from tax record: −$356 /mo · $4,276/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,493
• Net cashflow: $4,493

Break-even live

Break-even rent $6,183

Max offer price $800,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$11,868
Total (6 units)			$11,871

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2425 20th St NE Unit 18 Washington, DC	2.0	2.0	900	$2,400	$2.67	7d	1	0.12mi
1816 Bryant St NE #1816 Washington, DC	3.0	1.5	1026	$3,000	$2.92	24d	1	0.23mi
2414 Hamlin Pl NE Washington, DC	3.0	1.5	1500	$2,550	$1.70	18d	1	0.32mi
3011 20th St NE Washington, DC	3.0	2.0	1103	$5,600	$5.08	24d	1	0.39mi
2324 15th St NE Washington, DC	3.0	2.5	1398	$3,880	$2.78	24d	1	0.50mi
2206 15th St NE Washington, DC	3.0	2.0	1184	$2,500	$2.11	24d	1	0.51mi
3026 Channing St NE Washington, DC	2.0	1.0	1224	$2,399	$1.96	24d	1	0.52mi
2413 14th St NE Washington, DC	1.0–5.0	1.0–2.0	1121	$1,842	$1.64	3d	46	0.55mi
1835 24th St NE Washington, DC	1.0–2.0	1.0	800	$2,518	$3.15	1d	4	0.56mi
3119 S Dakota Ave NE Unit A Washington, DC	2.0	1.0	1676	$1,900	$1.13	24d	1	0.57mi
3119 S Dakota Ave NE Unit B Washington, DC	2.0	1.0	1676	$1,800	$1.07	24d	1	0.57mi
1334 Downing St NE Washington, DC	3.0	1.0	1408	$3,000	$2.13	24d	1	0.68mi
1401 New York Ave NE Washington, DC	3.0	1.0–3.0	846	$2,848	$3.37	1d	34	0.75mi
2417 Otis St NE Washington, DC	3.0	2.5	1854	$3,899	$2.10	7d	1	0.84mi
1929 Gallaudet St NE Washington, DC	3.0	2.0	1200	$3,395	$2.83	24d	1	0.89mi
3467 Summit Ct NE Washington, DC	2.0	1.0	982	$2,600	$2.65	24d	1	0.94mi
1916 W Virginia Ave NE Unit 2 Washington, DC	3.0	2.0	1800	$2,900	$1.61	20d	1	0.95mi
3018 12th St NE #2 Washington, DC	2.0	2.0	880	$3,000	$3.41	24d	1	0.97mi
1495 Gallaudet St NE Unit 1495B Washington, DC	3.0	2.5	1586	$4,141	$2.61	24d	1	0.99mi
1858 Kendall St NE #2 Washington, DC	3.0	2.0	1150	$3,000	$2.61	24d	1	1.00mi
1838 Capitol Ave NE Washington, DC	3.0	2.5	1230	$2,550	$2.07	24d	1	1.01mi
3421 Eastern Ave Mount Rainier, MD	1.0	1.0	1000	$1,700	$1.70	43d	1	1.01mi
2720 10th St NE Washington, DC	3.0	1.5	1400	$1,580	$1.13	7d	1	1.02mi
2726 10th St NE Washington, DC	3.0	2.5	1400	$4,000	$2.86	24d	1	1.02mi
1809 Kendall St NE Washington, DC	3.0	3.0	1376	$3,695	$2.69	24d	1	1.02mi
2607 Reed St NE Washington, DC	2.0	1.0–2.0	704	$2,936	$4.17	2d	19	1.05mi
806 Channing Pl NE Washington, DC	2.0	1.0–2.0	726	$2,763	$3.81	1d	28	1.10mi
1728 Montello Ave NE Washington, DC	1.0	1.0	1504	$1,200	$0.80	24d	1	1.11mi
1269 Simms Pl NE Unit 3 Washington, DC	2.0	1.0	995	$2,540	$2.55	5d	1	1.12mi
1269 Simms Pl NE Unit 3 Washington, DC	2.0	1.0	995	$2,510	$2.52	7d	1	1.12mi
2300 Washington Pl NE Washington, DC	1.0–2.0	1.0–2.0	885	$2,468	$2.79	2d	8	1.14mi
1707 Capitol Ave NE Unit 1 Washington, DC	2.0	1.5	883	$1,850	$2.10	24d	1	1.15mi
1222 18th Pl NE Unit 2 Washington, DC	1.0	1.0	900	$2,100	$2.33	24d	1	1.16mi
1222 18th Pl NE Unit 3 Washington, DC	2.0	1.0	900	$2,300	$2.56	24d	1	1.16mi
1679 Montello Ave NE Washington, DC	3.0	2.0	962	$3,200	$3.33	24d	1	1.17mi
1255 Raum St NE Unit 1388282P Washington, DC	2.0–8.0	1.0–5.0	3245	$3,423	$1.05	2d	2	1.17mi
1255 Raum St NE Unit 1388283P Washington, DC	2.0	1.0	893	$3,560	$3.99	7d	1	1.17mi
3614 12th St NE #7 Washington, DC	2.0	2.0	898	$3,400	$3.79	7d	1	1.20mi
3614 12th St NE Washington, DC	1.0–2.0	1.0–2.0	695	$3,400	$4.89	14d	2	1.20mi
3750 Jamison St NE Washington, DC	2.0	1.0–2.0	761	$2,676	$3.51	2d	8	1.21mi

Listing history 26 events

1. 2026-06-18
   days on market $800,000 Active 43 DOM
2. 2026-06-17
   days on market $800,000 Active 42 DOM
3. 2026-06-16
   days on market $800,000 Active 41 DOM
4. 2026-06-15
   days on market $800,000 Active 40 DOM
5. 2026-06-13
   days on market $800,000 Active 38 DOM
6. 2026-06-09
   days on market $800,000 Active 34 DOM
7. 2026-06-08
   days on market $800,000 Active 33 DOM
8. 2026-06-07
   days on market $800,000 Active 32 DOM
9. 2026-06-04
   days on market $800,000 Active 29 DOM
10. 2026-06-03
    days on market $800,000 Active 28 DOM
11. 2026-06-02
    days on market $800,000 Active 27 DOM
12. 2026-06-01
    days on market $800,000 Active 26 DOM
13. 2026-05-31
    days on market $800,000 Active 25 DOM
14. 2026-05-06
    listed $800,000 Active
15. 2026-03-14
    historical
16. 2026-02-02
    price $850,000
17. 2025-12-05
    listed $950,000 Active
18. 2025-11-22
    historical
19. 2025-09-04
    historical
20. 2025-06-06
    status Active
21. 2025-05-31
    historical
22. 2025-04-03
    price $800,000
23. 2025-01-04
    listed $867,000 Active
24. 2024-10-18
    historical
25. 2024-05-13
    price $540,000
26. 2024-05-01
    listed $550,000 Active

ⓘ 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: $4,276 · $356/mo
• Projected year-2 tax: $4,578 · $381/mo
• Expected delta: +$302/yr (+$25/mo · 7.1%)

ⓘ 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 ≥105°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: $142,452
• − Mortgage interest: −$44,812
• − Property taxes: −$4,276
• − Insurance: −$4,000
• − Repairs & maintenance: −$11,396
• − Management: −$11,396
• − Depreciation: −$23,273
• Taxable income: $43,299
• Est. tax owed @ 24.0%: −$10,392
• After-tax cash flow: $43,526/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): 19,562
• Household income: $90,639
• Rent vs Own: 47.9% rent · 52.1% own
• Severe rent burden: 919.0

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 (66%)
• Race & ethnicity: Black 66% White 18% Hispanic / Latino 9% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Italian 2% Romanian 1% Serbian 1%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 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: ▼ -605.95%
• Current HPI: 381.7099
• Rent YoY: ▲ 0.06%
• 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

+45.5% since first listed

13 events — show timeline

• 2026-05-06 Listed $800,000 BRIGHT MLS
• 2026-03-14 Listing Removed — BRIGHT MLS
• 2026-02-02 Price Changed $850,000 BRIGHT MLS
• 2025-12-05 Listed $950,000 BRIGHT MLS
• 2025-11-22 Coming Soon — BRIGHT MLS
• 2025-09-04 Listing Removed — BRIGHT MLS
• 2025-06-06 Relisted — BRIGHT MLS
• 2025-05-31 Listing Removed — BRIGHT MLS
• 2025-04-03 Price Changed $800,000 BRIGHT MLS
• 2025-01-04 Listed $867,000 BRIGHT MLS
• 2024-10-18 Listing Removed — BRIGHT MLS
• 2024-05-13 Price Changed $540,000 BRIGHT MLS
• 2024-05-01 Listed $550,000 BRIGHT MLS

Property tax history

+3.6%/yr

Latest (2025): $4,276 · +1.6% YoY. Source: county tax records.