900 N Taylor St #604

Arlington, VA 22203

$175,000C+

1 bd · 1.0 ba · 696 sqft · Built 1992 · Condo · Pending · 177 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,383/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$144
• HOA: −$271
• Vac / Maint / Mgmt: −$501
• Net cashflow: $551/mo
• Annual: $6,609/yr
• Cap rate: 10.07%
• Cash-on-cash: 13.49%
• DSCR: 1.60
• 1% rule: 1.36%
• Cash to close: $49,000

Investor read

• This is a 1-bed/1.0-bath condo listed at $175k.
• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 177 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 86/100 on livability (#14 in VA, #387 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Arlington County Public School District (urban): math 65% / reading 77% proficiency, ranked #8 of 131 in VA (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents flat; 59 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 621 units permitted in Arlington County in 2024 (429 in 5+ unit buildings).
• Arlington County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 17 sale attempts since 28y ago; this cycle's ask is 67% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $78k; list at $175k implies a 124% gain — meaningful room to come down on a strong offer.
• Cap rate 10.1% vs local median 1.7% in Arlington — 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.

Questions for listing agent

• It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.