428 Ridge Rd SE #205 · Washington, DC 20019

$64,999

2 bd · 1.0 ba · 624 sqft · Condo public records · 173 Days on market

Built 1958 $374/mo HOA · 23% 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
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Condo for the money. Move right in and start living.

Key facts

• Investment potential
• Steady rental income
• $374 HOA

Tags

• INVESTMENT POTENTIAL
• TRADITIONAL BRICK APARTMENT
• PEACEFUL GARDEN-STYLE BUILDING
• EASY ACCESS TO LOCAL AMENITIES
• STEADY RENTAL INCOME

Property features AI

Finance

• HOA & community: Condo fee of $374 per month; Professionally managed off-site; Condo fee includes trash, water, sewer, lawn maintenance and heat; Property manager present; Pets allowed (cats, dogs; case-by-case)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas for heating and hot water; Electric for cooling
• Home design: Condominium penthouse in a garden-style building (1–4 stories); Entry on level 1; Estimated year built
• Construction: Brick construction; Above grade and below grade structures
• Exterior features: Not located in a federal flood zone; In city limits

Interior

• Bedrooms: 1 bedroom on main level
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Radiator heating (natural gas hot water); Window air conditioning units (electric)
• Interior features: No basement; Assessor-reported living area
• Laundry & utility: No in-unit washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.7% 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 fast (+6.1%/yr); 281 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); 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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 + 6.1% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $40k; list at $65k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent; built in 1958 — 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 $57,199 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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.
9. 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.
10. 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: 2.52% ✓
• Cap rate: 15.66%
• Cash-on-cash: 33.45%
• DSCR: 2.49
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.06% rent growth · sell at horizon

5-year hold

• IRR: 33.5%
• Equity multiple: 2.49×
• Total profit: $27,198
• Equity at exit: $9,692

10-year hold

• IRR: 42.6%
• Equity multiple: 5.89×
• Total profit: $88,913
• Equity at exit: $5,620

Cash invested: $18,200 (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 20019

• Rents YoY: 6.1%
• Active inventory: 281
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,636 high
• Mortgage (P&I): −$341
• Tax from tax record: −$44 /mo · $523/yr
• Insurance: −$27
• HOA: −$374
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $507

Break-even live

Break-even rent $994

Max offer price $64,999

Occupancy floor 64%

Sensitivity live

Price	-10% $544	-5% $526	+0% $507	+5% $489	+10% $470
Rent	-10% $378	-5% $443	+0% $507	+5% $572	+10% $637
Rate	-1.0pp $540	-0.5pp $524	base $507	+0.5pp $490	+1.0pp $473

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3738 D St SE Washington, DC	1.0–2.0	1.0	542	$1,549	$2.86	8d	12	0.12mi
429 Burbank St SE Apt 4 Washington, DC	1.0	1.0	594	$1,235	$2.08	25d	1	0.20mi
305 37th St SE Washington, DC	1.0–2.0	1.0–1.5	787	$1,550	$1.97	25d	1	0.36mi
3600 Ely Pl SE Washington, DC	1.0–3.0	1.0	719	$2,088	$2.90	3d	10	0.40mi
301 Anacostia Rd SE Unit 2 BEDROOM Washington, DC	2.0	1.0	600	$1,300	$2.17	25d	1	0.42mi
4040 E Capitol St NE Washington, DC	1.0–2.0	1.0–1.5	716	$1,608	$2.24	8d	1	0.44mi
3516 Ely Pl SE Unit 4 Washington, DC	1.0	1.0	700	$1,450	$2.07	25d	1	0.44mi
319 Anacostia Rd SE Unit 1 Washington, DC	2.0	1.0	724	$1,035	$1.43	25d	1	0.45mi
3539 A St SE Washington, DC	1.0–2.0	1.0–2.0	807	$1,403	$1.74	18d	1	0.51mi
4805 Texas Ave SE Washington, DC	1.0–2.0	1.0	775	$1,400	$1.81	25d	1	0.55mi
3427 B St SE Unit 4 Washington, DC	1.0	1.0	558	$1,300	$2.33	25d	1	0.56mi
3315 Dubois Pl SE Washington, DC	1.0	1.0	650	$1,000	$1.54	25d	1	0.65mi
4511 B St SE Washington, DC	1.0–2.0	1.0	675	$1,650	$2.44	25d	2	0.65mi
165 35th St NE Unit 2 Washington, DC	1.0	1.0	700	$1,495	$2.14	25d	1	0.66mi
165 35th St NE Unit 3 Washington, DC	1.0	1.0	750	$1,625	$2.17	25d	1	0.66mi
3313 C St SE Washington, DC	1.0–2.0	1.0	750	$1,343	$1.79	2d	2	0.66mi
4701 Benning Rd SE Washington, DC	1.0	1.0	600	$1,100	$1.83	25d	1	0.66mi
195 35th St NE Unit 1 Washington, DC	2.0	1.0	716	$1,800	$2.51	25d	1	0.67mi
4236 Benning Rd NE Washington, DC	1.0	1.0	700	$1,095	$1.56	5d	1	0.68mi
212 36th St NE #1 Washington, DC	2.0	1.0	750	$2,550	$3.40	25d	1	0.68mi
212 36th St NE #3 Washington, DC	3.0	1.0	750	$3,450	$4.60	25d	1	0.68mi
4800 C St SE #302 Washington, DC	1.0	1.0	502	$1,440	$2.87	25d	1	0.72mi
4732 Benning Rd SE #102 Washington, DC	1.0	1.0	581	$1,150	$1.98	25d	1	0.73mi
4820 C St SE #304 Washington, DC	2.0	1.0	635	$1,600	$2.52	25d	1	0.75mi
140 Kenilworth Ave NE Unit 3B Washington, DC	1.0	1.0	455	$1,160	$2.55	25d	1	0.77mi
140 Kenilworth Ave NE Unit 1A Washington, DC	2.0	1.0	573	$1,567	$2.73	25d	1	0.77mi
4601 Blaine St NE Unit 1 Washington, DC	2.0	1.0	750	$1,500	$2.00	25d	1	0.77mi
208 Kenilworth Ave NE Unit 3B Washington, DC	1.0	1.0	465	$1,122	$2.41	25d	1	0.77mi
208 Kenilworth Ave NE Unit 1C Washington, DC	1.0	1.0	465	$1,163	$2.50	25d	1	0.77mi
324 Saint Louis St SE Washington, DC	2.0	1.0	640	$1,750	$2.73	8d	1	0.79mi
3306 E Capitol St NE Unit C Washington, DC	1.0	1.0	525	$1,175	$2.24	4d	1	0.80mi
3208 E Capitol St NE Unit C Washington, DC	1.0	1.0	510	$1,175	$2.30	4d	1	0.84mi
3206 E Capitol St NE Apt D Washington, DC	1.0	1.0	510	$1,291	$2.53	25d	1	0.85mi
4255 Eads St NE Unit 3 Washington, DC	2.0	1.0	610	$1,750	$2.87	23d	1	0.88mi
4919 A St SE Unit 202 Washington, DC	2.0	1.0	625	$1,900	$3.04	25d	1	0.90mi
4930 A St SE Unit 203 Washington, DC	3.0	1.0	750	$2,815	$3.75	25d	1	0.91mi
3311 Clay Pl NE Washington, DC	2.0	1.0	709	$1,995	$2.81	25d	1	0.96mi
3022 K St SE Washington, DC	1.0	1.0	675	$1,348	$2.00	6d	2	0.97mi
5045 Call Pl SE #203 Washington, DC	1.0	1.0	693	$2,000	$2.89	25d	1	0.98mi
819 51st St SE Unit 5 Washington, DC	1.0	1.0	650	$1,000	$1.54	8d	1	0.98mi

HOA detail condo

• Monthly dues: $374 · $4,488/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $64,999 Active 173 DOM
2. 2026-06-18
   days on market $64,999 Active 170 DOM
3. 2026-06-17
   days on market $64,999 Active 169 DOM
4. 2026-06-16
   days on market $64,999 Active 168 DOM
5. 2026-06-15
   days on market $64,999 Active 167 DOM
6. 2026-06-13
   days on market $64,999 Active 165 DOM
7. 2026-06-09
   days on market $64,999 Active 161 DOM
8. 2026-06-08
   days on market $64,999 Active 160 DOM
9. 2026-06-07
   days on market $64,999 Active 159 DOM
10. 2026-06-04
    days on market $64,999 Active 156 DOM
11. 2026-06-03
    days on market $64,999 Active 155 DOM
12. 2026-06-02
    days on market $64,999 Active 154 DOM
13. 2026-06-01
    days on market $64,999 Active 153 DOM
14. 2026-05-31
    days on market $64,999 Active 152 DOM
15. 2025-12-30
    listed $64,999 Active
16. 2012-07-31
    soldstatus $39,500 Sold 58-char remark

    Show marketing remark (58 chars)

    Great Condo for the money. Move right in and start living.

17. 2012-07-31
    soldstatus $39,500 58-char remark

    Show marketing remark (58 chars)

    Great Condo for the money. Move right in and start living.

18. 2012-07-08
    status Contract 58-char remark

    Show marketing remark (58 chars)

    Great Condo for the money. Move right in and start living.

19. 2012-07-07
    historical 58-char remark

    Show marketing remark (58 chars)

    Great Condo for the money. Move right in and start living.

20. 2012-06-22
    listed $40,000 Active 58-char remark

    Show marketing remark (58 chars)

    Great Condo for the money. Move right in and start living.

21. 2012-06-22
    listed $40,000 58-char remark

    Show marketing remark (58 chars)

    Great Condo for the money. Move right in and start living.

22. 1984-06-07
    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: $523 · $44/mo
• Projected year-2 tax: $523 · $44/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°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: $19,637
• − Mortgage interest: −$3,641
• − Property taxes: −$523
• − Insurance: −$325
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − HOA: −$4,488
• − Depreciation: −$1,891
• Taxable income: $5,627
• Est. tax owed @ 24.0%: −$1,351
• After-tax cash flow: $4,736/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): 63,380
• Household income: $58,296
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 5115.0

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 (87%)
• Race & ethnicity: Black 87% Hispanic / Latino 7% Two or more races 4% White 2%
• Hispanic origin (detail): Mexican 1% Dominican 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% 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: ▼ -416.91%
• Current HPI: 326.4481
• Rent YoY: ▲ 6.06%
• 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

+160.0% since first listed

8 events — show timeline

• 2025-12-30 Listed $64,999 BRIGHT MLS
• 2012-07-31 Sold (MLS) $39,500 BRIGHT MLS
• 2012-07-31 Sold (MLS) $39,500 MRIS
• 2012-07-08 Pending — MRIS
• 2012-07-07 Listing Removed — BRIGHT MLS
• 2012-06-22 Listed $40,000 MRIS
• 2012-06-22 Listed $40,000 BRIGHT MLS
• 1984-06-07 Sold (Public Records) $25,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $523 · -0.7% YoY. Source: county tax records.