3281 15th Pl SE #202 · Washington, DC 20020

$135,000

3 bd · 1.0 ba · 1,038 sqft · Condo public records · 52 Days on market

Built 1991 $521/mo HOA · 24% of rent ↓ 40% since listing

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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 +26.7/30.0
• 1% rule +10.0/10.0
• DSCR +9.2/10.0
• 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

Discover your new home at the spacious and conveniently located Fairview Condos! This move-in ready unit features a huge master bedroom and two generously sized bedrooms. Brand new carpet installed in the last two weeks! Enjoy cooking in the newly renovated kitchen and relaxing in the oversized family room. The ceramic-tiled bathroom boasts a new light fixture and vanity. Benefit from the added convenience of two exits: one through the main entrance and an emergency exit in the master bedroom. Located just steps away from Giant, IHOP, banks, dry cleaners, the public library, and more! Less than half a mile from the Congress Heights metro. Please note, this unit is not FHA approved. The time

Key facts

• $521 HOA
• Built 1991
• Listed 51 days

Property features AI

Finance

• HOA & community: Monthly condo fee of $521; Condo fee covers trash, common area maintenance, exterior building maintenance, management, and snow removal

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric cooling; Natural gas heating and hot water
• Home design: Condominium unit / flat; Entry on level 1; Building named RANDLE HEIGHTS; Brick construction
• Construction: Brick construction materials; Above-grade and below-grade structures noted; Year built estimated
• Exterior features: Garden-style building (1–4 floors); No tidal water

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Estimated living area; No basement
• Laundry & utility: Washer/dryer hook-up in unit

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 rising (+3.9%/yr); 296 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $2,185/mo this rent would consume 49% 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 $933 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.62% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.66%
• DSCR: 1.52
• GRM: 5.1

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: 2.5%
• Equity multiple: 1.10×
• Total profit: $3,728
• Equity at exit: $20,129

10-year hold

• IRR: 13.3%
• Equity multiple: 2.13×
• Total profit: $42,543
• Equity at exit: $11,672

Cash invested: $37,800 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,185 high
• Mortgage (P&I): −$708
• Tax from tax record: −$74 /mo · $886/yr
• Insurance: −$56
• HOA: −$521
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $367

Break-even live

Break-even rent $1,720

Max offer price $135,000

Occupancy floor 78%

Sensitivity live

Price	-10% $444	-5% $406	+0% $367	+5% $329	+10% $291
Rent	-10% $195	-5% $281	+0% $367	+5% $454	+10% $540
Rate	-1.0pp $435	-0.5pp $402	base $367	+0.5pp $332	+1.0pp $297

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3275 15th Pl SE #101 Washington, DC	3.0	1.0	984	$2,250	$2.29	25d	1	0.01mi
3281 15th Pl SE Washington, DC	3.0	1.0	1012	$1,750	$1.73	8d	1	0.02mi
3243 15th Pl SE Washington, DC	2.0	2.0	1248	$2,400	$1.92	0d	1	0.07mi
2000 Ridgecrest Ct SE Washington, DC	3.0	1.0	850	$1,486	$1.75	3d	1	0.33mi
2000 Ridgecrest Ct SE Washington, DC	2.0–3.0	1.0	900	$1,923	$2.14	3d	6	0.33mi
1309 Congress St SE Washington, DC	1.0–2.0	1.0	625	$1,250	$2.00	16d	1	0.39mi
1216 Savannah Pl SE Washington, DC	3.0	1.0	887	$2,100	$2.37	0d	1	0.41mi
3321 13th St SE Unit 3 Washington, DC	2.0	1.0	703	$1,750	$2.49	25d	1	0.45mi
3325 13th St SE Apt 1 Washington, DC	3.0	1.0	902	$2,500	$2.77	3d	1	0.45mi
3325 13th St SE Unit 10 Washington, DC	2.0	1.0	750	$1,750	$2.33	25d	1	0.45mi
3325 13th St SE Apt 12 Washington, DC	3.0	1.0	901	$2,500	$2.77	25d	1	0.45mi
3323 13th St SE Apt 11 Washington, DC	2.0	1.0	755	$1,750	$2.32	25d	1	0.46mi
1201 Oak Dr SE Washington, DC	3.0	1.0–2.0	892	$1,921	$2.15	0d	32	0.47mi
3207 11th Pl SE #4 Washington, DC	3.0	1.0	850	$1,800	$2.12	25d	1	0.53mi
3207 11th Pl SE #4 Washington, DC	3.0	1.0	850	$1,800	$2.12	19d	1	0.53mi
1120 Trenton Pl SE Washington, DC	2.0	1.0	765	$1,325	$1.73	0d	1	0.58mi
3459 23rd St SE Washington, DC	2.0	1.0	1200	$2,100	$1.75	6d	1	0.61mi
802 Malcolm X Ave SE Washington, DC	4.0	1.0	1140	$3,150	$2.76	25d	1	0.63mi
2913 8th St SE #3101 Washington, DC	2.0	2.0	1100	$2,400	$2.18	15d	1	0.66mi
3210 8th St SE #1 Washington, DC	2.0	2.0	1106	$2,395	$2.17	25d	1	0.70mi
1439 Southern Ave SE Oxon Hill, MD	2.0–3.0	1.0–2.0	1080	$2,342	$2.17	45d	1	0.75mi
615 Malcolm X Ave SE Unit F Washington, DC	3.0	1.0	1100	$2,508	$2.28	4d	1	0.76mi
2627 Jasper St SE Washington, DC	1.0–2.0	1.0–1.5	838	$1,729	$2.06	25d	1	0.77mi
2629 Douglass Rd SE Washington, DC	2.0–3.0	1.0–1.5	888	$2,245	$2.53	2d	13	0.77mi
2609 Douglass Rd SE #402 Washington, DC	2.0	2.0	990	$2,200	$2.22	25d	1	0.78mi
1121 Varney St SE Washington, DC	3.0	3.5	1400	$3,000	$2.14	25d	1	0.79mi
2472 Alabama Ave SE Unit B2 Washington, DC	3.0	1.0	827	$2,500	$3.02	25d	1	0.82mi
2603 Southern Ave SE Hillcrest Heights, MD	1.0–2.0	1.0	646	$1,375	$2.13	2d	7	0.86mi
3212 28th St SE Unit D Washington, DC	3.0	1.0	790	$2,100	$2.66	25d	1	0.86mi
3320 6th St SE Washington, DC	2.0	1.0	690	$1,398	$2.03	4d	25	0.91mi
349 Parkland Pl SE Unit B Washington, DC	4.0	2.0	1400	$2,500	$1.79	21d	1	0.91mi
349 Parkland Pl SE Unit A Washington, DC	4.0	2.0	1400	$2,500	$1.79	25d	1	0.91mi
2816 Hartford St SE Washington, DC	3.0	1.0	760	$9,000	$11.84	0d	1	0.92mi
2816 Hartford St SE Washington, DC	3.0	1.0	760	$9,000	$11.84	5d	1	0.92mi
446 Mellon St SE #2 Washington, DC	2.0	1.0	928	$2,400	$2.59	16d	1	0.93mi
2305 Oxon Run Dr Temple Hills, MD	4.0	2.0	1300	$3,300	$2.54	0d	1	0.95mi
3158 Buena Vista Ter SE Unit 1 Washington, DC	3.0	1.0	800	$2,900	$3.62	25d	1	0.96mi
2341 Green St SE Washington, DC	2.0	1.0	741	$1,225	$1.65	25d	1	0.97mi
2495 Alabama Ave SE Unit 302 Washington, DC	3.0	1.0	825	$2,600	$3.15	23d	1	0.98mi
1619 Butler St SE Unit 3 Washington, DC	2.0	1.0	700	$1,700	$2.43	25d	1	0.98mi

HOA detail condo

• Monthly dues: $521 · $6,252/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $135,000 Active 52 DOM
2. 2026-06-18
   days on market $135,000 Active 49 DOM
3. 2026-06-17
   days on market $135,000 Active 48 DOM
4. 2026-06-16
   days on market $135,000 Active 47 DOM
5. 2026-06-15
   days on market $135,000 Active 46 DOM
6. 2026-06-13
   days on market $135,000 Active 44 DOM
7. 2026-06-09
   days on market $135,000 Active 40 DOM
8. 2026-06-08
   days on market $135,000 Active 39 DOM
9. 2026-06-07
   pricedays on market $135,000 Active 38 DOM
10. 2026-06-04
    days on market $150,000 Active 35 DOM
11. 2026-06-03
    days on market $150,000 Active 34 DOM
12. 2026-06-02
    days on market $150,000 Active 33 DOM
13. 2026-06-01
    days on market $150,000 Active 32 DOM
14. 2026-05-31
    days on market $150,000 Active 31 DOM
15. 2026-05-01
    listed $150,000 Active
16. 2026-04-28
    historical $150,000
17. 2024-12-03
    historical $2,200
18. 2024-11-22
    historical
19. 2024-10-09
    historical Active Under Contract
20. 2024-08-28
    listed $2,200
21. 2024-08-28
    price $205,281
22. 2024-07-23
    price $224,281
23. 2024-06-14
    listed $249,281 Active
24. 2023-03-01
    historical
25. 2023-01-14
    status Active
26. 2023-01-12
    historical
27. 2022-09-15
    price $224,900
28. 2022-08-24
    price $239,900
29. 2022-08-12
    listed $249,900 Active
30. 2022-08-07
    historical

ⓘ 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: $886 · $74/mo
• Projected year-2 tax: $886 · $74/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 · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,225
• − Mortgage interest: −$7,562
• − Property taxes: −$886
• − Insurance: −$675
• − Repairs & maintenance: −$2,098
• − Management: −$2,098
• − HOA: −$6,252
• − Depreciation: −$3,927
• Taxable income: $2,727
• Est. tax owed @ 24.0%: −$654
• After-tax cash flow: $3,755/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

-40.0% since first listed

16 events — show timeline

• 2026-05-01 Listed $150,000 BRIGHT MLS
• 2026-04-28 Coming Soon $150,000 BRIGHT MLS
• 2024-12-03 Rental Removed $2,200 BRIGHTMLS
• 2024-11-22 Listing Removed — BRIGHT MLS
• 2024-10-09 Contingent — BRIGHT MLS
• 2024-08-28 Listed for Rent $2,200 BRIGHTMLS
• 2024-08-28 Price Changed $205,281 BRIGHT MLS
• 2024-07-23 Price Changed $224,281 BRIGHT MLS
• 2024-06-14 Listed $249,281 BRIGHT MLS
• 2023-03-01 Listing Removed — BRIGHT MLS
• 2023-01-14 Relisted — BRIGHT MLS
• 2023-01-12 Listing Removed — BRIGHT MLS
• 2022-09-15 Price Changed $224,900 BRIGHT MLS
• 2022-08-24 Price Changed $239,900 BRIGHT MLS
• 2022-08-12 Listed $249,900 BRIGHT MLS
• 2022-08-07 Coming Soon — BRIGHT MLS

Property tax history

+2.7%/yr

Latest (2025): $886 · +31.8% YoY. Source: county tax records.