2608 Wade Rd SE #202 · Washington, DC 20020

$160,000

2 bd · 1.0 ba · 715 sqft · Condo public records · 28 Days on market

Built 2004 $250/mo HOA · 9% 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

This bright unit features hardwood floors throughout the main living and bedroom areas, along with an open living and dining layout filled with natural light. A wall-mounted fireplace adds character to the space, and sliding glass doors lead to a private balcony. The updated kitchen includes quartz countertops, a modern tile backsplash, stainless steel appliances, and gas cooking. The bathroom has been refreshed with a large-format tile surround and updated fixtures. Additional highlights include a full-size in-unit stacked washer and dryer, fresh paint throughout, and a functional floor plan that maximizes space. Conveniently located in SE Washington, DC with easy access to commuter routes

Key facts

• $250 HOA
• Parking
• Built 2004

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.8% 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: Savoy Es (238 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); 296 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).
• At $2,819/mo this rent would consume 63% 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 $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 $72k; list at $160k implies a 122% gain — meaningful room to come down on a strong offer.

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 $157,600 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
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: 1.76% ✓
• Cap rate: 13.84%
• Cash-on-cash: 26.94%
• DSCR: 2.20
• GRM: 4.7

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: 21.9%
• Equity multiple: 1.91×
• Total profit: $40,698
• Equity at exit: $23,857

10-year hold

• IRR: 30.6%
• Equity multiple: 3.87×
• Total profit: $128,649
• Equity at exit: $13,834

Cash invested: $44,800 (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: 4.7×

Monthly cashflow live

• Estimated rent: $2,819 high
• Mortgage (P&I): −$839
• Tax from tax record: −$65 /mo · $785/yr
• Insurance: −$67
• HOA: −$250
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $1,006

Break-even live

Break-even rent $1,546

Max offer price $160,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,096	-5% $1,051	+0% $1,006	+5% $960	+10% $915
Rent	-10% $783	-5% $894	+0% $1,006	+5% $1,117	+10% $1,228
Rate	-1.0pp $1,086	-0.5pp $1,046	base $1,006	+0.5pp $964	+1.0pp $922

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1302 Morris Rd SE Washington, DC	3.0	1.0	750	$2,400	$3.20	25d	1	0.36mi
1300 Morris Rd SE Washington, DC	2.0	1.0	650	$1,499	$2.31	25d	1	0.36mi
2228 Martin Luther King Jr Ave SE Washington, DC	1.0	1.0	606	$1,790	$2.95	4d	5	0.37mi
650 Howard Rd SE Washington, DC	3.0	1.0–2.0	852	$3,559	$4.17	2d	53	0.40mi
632 Howard Rd SE Washington, DC	2.0	1.0–2.0	673	$4,100	$6.09	21d	112	0.44mi
632 Howard Rd SE Unit 434 Washington, DC	1.0	1.0	623	$2,761	$4.43	17d	1	0.44mi
632 Howard Rd SE Unit 531 Washington, DC	1.0	1.0	632	$2,761	$4.37	21d	1	0.44mi
600 Howard Rd SE Washington, DC	2.0	1.0–2.5	805	$6,344	$7.88	2d	89	0.47mi
1425-1429 Cedar St SE Washington, DC	1.0	1.0	644	$1,419	$2.20	3d	5	0.54mi
1619 Butler St SE Unit 3 Washington, DC	2.0	1.0	700	$1,700	$2.43	25d	1	0.64mi
2341 Green St SE Washington, DC	2.0	1.0	741	$1,225	$1.65	25d	1	0.81mi
407 Lebaum St SE Unit 4 Washington, DC	2.0	1.0	550	$1,750	$3.18	3d	1	0.84mi
407 Lebaum St SE Unit 1 Washington, DC	1.0	1.0	550	$1,700	$3.09	3d	1	0.84mi
430 Mellon St SE Unit 2 Washington, DC	1.0	1.0	650	$1,200	$1.85	25d	1	0.86mi
1600 Marion Barry Ave SE Unit Basement -B01 Washington, DC	1.0	1.0	550	$1,550	$2.82	25d	1	0.88mi
1900 Half St SW Washington, DC	3.0	1.0–2.0	862	$4,033	$4.68	2d	51	0.89mi
88 V St SW Washington, DC	1.0–2.0	1.5–2.0	745	$3,050	$4.09	23d	3	0.91mi
88 V St SW Washington, DC	1.0–2.0	1.5	682	$3,050	$4.47	20d	2	0.91mi
1800 Half St SW Washington, DC	2.0	1.0–2.0	881	$4,207	$4.78	3d	30	0.94mi
71 Potomac Ave SE Washington, DC	2.0	1.0–2.0	771	$4,690	$6.08	2d	28	0.95mi
212 Oakwood St SE Unit B2 Washington, DC	1.0	1.0	597	$1,650	$2.76	25d	1	0.95mi
535 Mellon St SE Unit 5 Washington, DC	1.0	1.0	700	$1,350	$1.93	21d	1	0.96mi
535 Mellon St SE Washington, DC	1.0	1.0	700	$1,350	$1.93	25d	1	0.96mi
79 Potomac Ave SE Washington, DC	2.0	1.0–2.0	928	$4,362	$4.70	2d	20	0.97mi
1201 Oak Dr SE Washington, DC	3.0	1.0–2.0	853	$1,876	$2.20	2d	19	0.97mi
2099 1st St SW Washington, DC	6.0	1.0–4.0	916	$3,649	$3.98	2d	175	0.97mi
2121 1st St SW Washington, DC	2.0	1.0–2.0	807	$4,746	$5.88	2d	38	0.98mi
215 Oakwood St SE Unit 302 Washington, DC	1.0	1.0	700	$1,080	$1.54	25d	1	0.98mi
79 Potomac Ave SE #718 Washington, DC	1.0	1.0	556	$2,500	$4.50	21d	1	0.98mi
1721 T St SE Washington, DC	1.0–2.0	1.0	785	$1,980	$2.52	23d	6	0.99mi
101 V St SW Washington, DC	2.0	1.0–2.5	878	$7,495	$8.53	3d	117	1.00mi
2000 2nd St SW Washington, DC	2.0	1.0–2.0	1046	$5,786	$5.53	4d	188	1.01mi
1346 4th St SE Washington, DC	2.0	1.0–2.0	864	$4,280	$4.95	2d	25	1.01mi
1331 4th St SE Washington, DC	2.0	1.0–2.0	838	$5,084	$6.07	2d	18	1.01mi
1847 Marion Barry Ave SE Washington, DC	1.0–2.0	1.0	725	$1,525	$2.10	25d	1	1.02mi
1300 4th St SE Washington, DC	1.0–2.0	1.0–2.0	854	$3,950	$4.63	20d	4	1.02mi
1300 4th St SE Washington, DC	1.0–2.0	1.0–2.0	820	$3,799	$4.63	5d	5	1.02mi
1300 4th St SE Washington, DC	1.0–2.0	1.0–2.0	820	$3,799	$4.63	4d	4	1.02mi
562 Malcolm X Ave SE Unit 4 Washington, DC	2.0	1.0	550	$1,600	$2.91	13d	1	1.03mi
301 Tingey St SE Washington, DC	1.0–2.0	1.0–2.5	977	$4,380	$4.48	2d	15	1.03mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-05-04
   status Pending
2. 2026-04-29
   soldstatus Closed
3. 2026-04-23
   status Pending
4. 2026-04-22
   soldstatus Closed
5. 2026-03-23
   historical Active Under Contract
6. 2026-02-22
   listed $160,000 Active
7. 2026-02-02
   historical $160,000
8. 2019-07-03
   soldstatus $72,100
9. 2018-07-19
   historical
10. 2018-04-18
    soldstatus $49,100
11. 2017-03-24
    listed
12. 2017-03-24
    historical
13. 2017-03-24
    historical Withdrawn
14. 2009-08-04
    historical
15. 2009-08-04
    historical
16. 2009-06-04
    listed
17. 2009-06-03
    listed $82,000
18. 2003-07-04
    historical
19. 2003-05-08
    listed

ⓘ 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: $785 · $65/mo
• Projected year-2 tax: $881 · $73/mo
• Expected delta: +$95/yr (+$8/mo · 12.1%)

ⓘ 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 8/10 Severe 7 d/yr ≥104°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: $33,825
• − Mortgage interest: −$8,962
• − Property taxes: −$785
• − Insurance: −$800
• − Repairs & maintenance: −$2,706
• − Management: −$2,706
• − HOA: −$3,000
• − Depreciation: −$4,655
• Taxable income: $10,211
• Est. tax owed @ 24.0%: −$2,451
• After-tax cash flow: $9,617/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

+95.1% since first listed

19 events — show timeline

• 2026-05-04 Pending — BRIGHT MLS
• 2026-04-29 Sold (MLS) — BRIGHT MLS
• 2026-04-23 Pending — BRIGHT MLS
• 2026-04-22 Sold (MLS) — BRIGHT MLS
• 2026-03-23 Contingent — BRIGHT MLS
• 2026-02-22 Listed $160,000 BRIGHT MLS
• 2026-02-02 Coming Soon $160,000 BRIGHT MLS
• 2019-07-03 Sold (Public Records) $72,100 Public Records
• 2018-07-19 Listing Removed — BRIGHT MLS
• 2018-04-18 Sold (Public Records) $49,100 Public Records
• 2017-03-24 Delisted — MRIS
• 2017-03-24 Delisted — MRIS
• 2017-03-24 Listed — MRIS
• 2009-08-04 Delisted — MRIS
• 2009-08-04 Listing Removed — BRIGHT MLS
• 2009-06-04 Listed — MRIS
• 2009-06-03 Listed $82,000 BRIGHT MLS
• 2003-07-04 Delisted — MRIS
• 2003-05-08 Listed — MRIS

Property tax history

-2.7%/yr

Latest (2025): $785 · -3.6% YoY. Source: county tax records.