46 Forrester St SW · Washington, DC 20032

$550,000

8 bd · 4.0 ba · 2,556 sqft · MultiFamily public records · 77 Days on market

Built 1943 3,537 sqft lot Est $475k · 16% over

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Why this score? — see what drove the D+ 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 +22.8/30.0
• DSCR +7.3/10.0
• 1% rule +5.3/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. Each unit is 2 BR, 1 BA! The building has maintenance free exterior is composed of brick.

Key facts

• 3,537 sq ft lot
• Built 1943
• Listed 77 days

Property features AI

Finance

• Other: Total below-grade area reported as 612; Ownership interest listed as Fee Simple; Year built source from assessor
• Financial info: Month-to-month existing lease type; Three vacant units, one leased unit, one month-to-month unit

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric for cooling; Natural gas for heating and hot water
• Home design: Multi-unit property with 4 total units; Fee simple ownership
• Construction: Brick construction
• Exterior features: Partial finished/unfinished below-grade space; Below-grade area of 612; Above-grade finished area of 2,556; Urban soil type

Interior

• Kitchen: Efficiency kitchen layout
• Bedrooms: Four 2-bedroom units
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Efficiency-style kitchen

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $957 ($11k/yr) — positive. Per door: $319/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Recommended offer: $517k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Ballou Hs (657 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 (+4.0%/yr); 145 active listings in the ZIP; 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).
• At $5,683/mo this rent would consume 139% of the median local household income ($49k/yr) (locally 4530% 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 $16k 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 77 days — a 6% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 28y 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 $250k; list at $550k implies a 120% 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $516,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.03% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.46%
• DSCR: 1.33
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $475,416
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4006 South Capitol SE	0.42mi	8/—	2,800 (+10%)	16mo	$520,000	$186	51

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 · 3.96% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-22,726
• Equity at exit: $82,007

10-year hold

• IRR: 6.8%
• Equity multiple: 1.53×
• Total profit: $81,541
• Equity at exit: $47,554

Cash invested: $154,000 (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 20032

• Home prices YoY: -15.6%
• Rents YoY: 4.0%
• Active inventory: 145
• Price-to-rent: 24.2×

Monthly cashflow live

• Estimated rent: $5,683 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$419 /mo · $5,033/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,193
• Net cashflow: $957

Break-even live

Break-even rent $4,472

Max offer price $550,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,682
Total (3 units)			$5,683

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $550,000 Active 77 DOM
2. 2026-06-17
   days on market $550,000 Active 76 DOM
3. 2026-06-16
   days on market $550,000 Active 75 DOM
4. 2026-06-15
   days on market $550,000 Active 74 DOM
5. 2026-06-13
   days on market $550,000 Active 72 DOM
6. 2026-06-09
   days on market $550,000 Active 68 DOM
7. 2026-06-08
   days on market $550,000 Active 67 DOM
8. 2026-06-07
   days on market $550,000 Active 66 DOM
9. 2026-06-04
   days on market $550,000 Active 63 DOM
10. 2026-06-03
    days on market $550,000 Active 62 DOM
11. 2026-06-02
    days on market $550,000 Active 61 DOM
12. 2026-06-01
    days on market $550,000 Active 60 DOM
13. 2026-05-31
    days on market $550,000 Active 59 DOM
14. 2026-04-02
    listed $550,000 Active
15. 2013-07-16
    soldstatus $250,000
16. 2013-06-10
    soldstatus $250,000 Sold 280-char remark

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

17. 2013-06-10
    soldstatus $250,000 255-char remark

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

18. 2013-06-10
    soldstatus $250,000

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

19. 2013-06-10
    soldstatus $250,000 Sold

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

20. 2012-05-04
    status Contingent (No Kick Out)

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

21. 2012-05-04
    status Contingent (No Kick Out) 280-char remark

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

22. 2012-05-04
    historical 255-char remark

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

23. 2012-05-04
    historical

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

24. 2012-04-27
    listed $175,000 Active

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

25. 2012-04-27
    listed $175,000 Active 280-char remark

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

26. 2012-04-27
    historical Withdrawn

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

27. 2012-04-27
    historical Withdrawn

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

28. 2012-04-27
    listed $175,000 255-char remark

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

29. 2012-04-27
    listed $175,000

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

30. 2012-04-27
    historical

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

31. 2012-04-27
    historical

    Show marketing remark (255 chars)

    Perfect Investment Opportunity in Congress Heights, Washington, DC! This brick 4-unit building was built in 1943 and is complete with central air, and separate metering for gas and electric. The building has maintenance free exterior is composed of brick.

32. 2011-07-19
    status Contingent (No Kick Out)
33. 2011-07-19
    status Contingent (No Kick Out)
34. 2011-07-11
    price
35. 2011-07-11
    price
36. 2011-05-02
    status Active
37. 2011-05-02
    status Active
38. 2011-01-24
    status Contingent (No Kick Out)
39. 2011-01-24
    status Contingent (No Kick Out)
40. 2010-11-03
    listed Active
41. 2010-11-03
    listed $199,000
42. 2010-10-29
    price
43. 2010-10-23
    price
44. 2010-09-24
    listed Active
45. 2010-09-24
    listed $199,000
46. 2002-04-25
    soldstatus $145,500
47. 2002-04-10
    soldstatus $145,500
48. 2002-03-31
    listed $144,900
49. 2002-03-31
    historical
50. 1999-10-25
    soldstatus $25,000

ⓘ 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: $5,033 · $419/mo
• Projected year-2 tax: $5,033 · $419/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 8/10 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: $68,196
• − Mortgage interest: −$30,809
• − Property taxes: −$5,033
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,456
• − Management: −$5,456
• − Depreciation: −$16,000
• Taxable income: $2,693
• Est. tax owed @ 24.0%: −$646
• After-tax cash flow: $10,834/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): 40,920
• Household income: $49,139
• Rent vs Own: 77.4% rent · 22.6% own
• Severe rent burden: 4530.0

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 (80%)
• Race & ethnicity: Black 80% White 8% Two or more races 7% Hispanic / Latino 5%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -60.34%
• Current HPI: 326.4077
• Rent YoY: ▲ 3.96%
• 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

+978.4% since first listed

46 events — show timeline

• 2026-04-02 Listed $550,000 BRIGHT MLS
• 2013-07-16 Sold (Public Records) $250,000 Public Records
• 2013-06-10 Sold (MLS) $250,000 MRIS
• 2013-06-10 Sold (MLS) $250,000 BRIGHT MLS
• 2013-06-10 Sold (MLS) $250,000 BRIGHT MLS
• 2013-06-10 Sold (MLS) $250,000 MRIS
• 2012-05-04 Pending — MRIS
• 2012-05-04 Pending — MRIS
• 2012-05-04 Listing Removed — BRIGHT MLS
• 2012-05-04 Listing Removed — BRIGHT MLS
• 2012-04-27 Listed $175,000 MRIS
• 2012-04-27 Listed $175,000 MRIS
• 2012-04-27 Delisted — MRIS
• 2012-04-27 Delisted — MRIS
• 2012-04-27 Listing Removed — BRIGHT MLS
• 2012-04-27 Listing Removed — BRIGHT MLS
• 2012-04-27 Listed $175,000 BRIGHT MLS
• 2012-04-27 Listed $175,000 BRIGHT MLS
• 2011-07-19 Pending — MRIS
• 2011-07-19 Pending — MRIS
• 2011-07-11 Price Changed — MRIS
• 2011-07-11 Price Changed — MRIS
• 2011-05-02 Relisted — MRIS
• 2011-05-02 Relisted — MRIS
• 2011-01-24 Pending — MRIS
• 2011-01-24 Pending — MRIS
• 2010-11-03 Listed — MRIS
• 2010-11-03 Listed $199,000 BRIGHT MLS
• 2010-10-29 Price Changed — MRIS
• 2010-10-23 Price Changed — MRIS
• 2010-09-24 Listed — MRIS
• 2010-09-24 Listed $199,000 BRIGHT MLS
• 2002-04-25 Sold (Public Records) $145,500 Public Records
• 2002-04-10 Sold (MLS) $145,500 MRIS
• 2002-03-31 Listed $144,900 MRIS
• 2002-03-31 Delisted — MRIS
• 1999-10-25 Sold (MLS) $25,000 MRIS
• 1999-09-10 Delisted — MRIS
• 1999-08-24 Listed $29,900 MRIS
• 1999-06-24 Delisted — MRIS
• 1999-04-13 Listed — MRIS
• 1999-03-10 Delisted — MRIS
• 1999-01-22 Listed — MRIS
• 1999-01-11 Delisted — MRIS
• 1998-10-16 Listed — MRIS
• 1989-02-10 Sold (Public Records) $51,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $5,033 · +4.5% YoY. Source: county tax records.