2835 Gainesville St SE #104 · Washington, DC 20020

$110,000

2 bd · 1.0 ba · 780 sqft · Condo public records · 17 Days on market

Built 1955 $345/mo HOA · 19% of rent ↓ 39% 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 +29.8/30.0
• 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

Investor special! Tenant-occupied 2BR/1BA condo with lease in place and immediate income potential. Features upgraded kitchen countertops, spacious living/dining area, generous storage, and a convenient location near Metro, Downtown DC, National Harbor, and major commuter routes. Affordable investment opportunity with strong rental demand and long-term upside.

Key facts

• Generous storage
• $345 HOA
• Built 1955

Tags

• UPGRADED KITCHEN COUNTERTOPS
• SPACIOUS LIVING DINING AREA
• GENEROUS STORAGE
• CONVENIENT LOCATION NEAR METRO

Property features AI

Finance

• Other: Condominium ownership interest
• HOA & community: Monthly condo fee of $345 covering common area maintenance, exterior building maintenance, lawn maintenance, management, sewer, snow removal, trash and water; Pets allowed with size/weight restrictions

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Condominium unit (Unit/Flat); Garden-style building (1–4 floors); Entry on level 1
• Construction: Brick construction; Above-grade and below-grade structures present; Year built as reported by assessor
• Exterior features: Unit located in city limits

Interior

• Bedrooms: 2 bedrooms on main level
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Heat pump(s) heating; Central air conditioning; Electric heating and cooling; Electric hot water
• Interior features: No basement; Living area as assessed by assessor
• Laundry & utility: Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% 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.
• Zoned schools: Capitol Hill Montessori School At Logan (424 students, 0% FRL); Johnson Ms (298 students, 0% FRL); 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 (+3.9%/yr); 298 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $87k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.66% ✓
• Cap rate: 10.69%
• Cash-on-cash: 15.69%
• DSCR: 1.70
• GRM: 5.0

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: 7.9%
• Equity multiple: 1.31×
• Total profit: $9,616
• Equity at exit: $16,401

10-year hold

• IRR: 18.1%
• Equity multiple: 2.59×
• Total profit: $48,856
• Equity at exit: $9,511

Cash invested: $30,800 (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: 298
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,824 high
• Mortgage (P&I): −$577
• Tax from tax record: −$71 /mo · $849/yr
• Insurance: −$46
• HOA: −$345
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $403

Break-even live

Break-even rent $1,314

Max offer price $110,000

Occupancy floor 73%

Sensitivity live

Price	-10% $465	-5% $434	+0% $403	+5% $372	+10% $340
Rent	-10% $259	-5% $331	+0% $403	+5% $475	+10% $547
Rate	-1.0pp $458	-0.5pp $431	base $403	+0.5pp $374	+1.0pp $345

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2838 Hartford St SE #304 Washington, DC	2.0	1.0	775	$1,500	$1.94	4d	1	0.04mi
2838 Hartford St SE Washington, DC	2.0	1.0	785	$1,538	$1.96	19d	2	0.04mi
2841 Gainesville St SE #201 Washington, DC	2.0	1.0	784	$1,900	$2.42	4d	1	0.05mi
2816 Hartford St SE Washington, DC	3.0	1.0	760	$9,000	$11.84	5d	1	0.06mi
2816 Hartford St SE Washington, DC	3.0	1.0	760	$9,000	$11.84	0d	1	0.06mi
2847 Gainesville St SE Unit 303 Washington, DC	3.0	1.0	902	$2,400	$2.66	26d	1	0.06mi
2847 Gainesville St SE Unit B2 Washington, DC	2.0	1.0	710	$1,700	$2.39	26d	1	0.06mi
2833 28th St SE Unit 4 Washington, DC	3.0	1.0	820	$2,200	$2.68	26d	1	0.08mi
2805 28th St SE Unit 1 Washington, DC	2.0	1.0	800	$1,690	$2.11	26d	1	0.11mi
2482 Alabama Ave SE Unit 302 Washington, DC	1.0	1.0	725	$1,350	$1.86	26d	1	0.13mi
2495 Alabama Ave SE Unit 302 Washington, DC	3.0	1.0	825	$2,600	$3.15	23d	1	0.14mi
2716 29th St SE Washington, DC	2.0	1.0	850	$2,000	$2.35	26d	1	0.15mi
2472 Alabama Ave SE Unit B2 Washington, DC	3.0	1.0	827	$2,500	$3.02	26d	1	0.16mi
2936 Knox Pl SE Washington, DC	1.0	1.0	800	$1,750	$2.19	5d	1	0.17mi
3009 30th St SE Washington, DC	1.0	1.0	800	$1,600	$2.00	5d	1	0.17mi
3030 30th St SE Washington, DC	1.0–2.0	1.0	887	$1,500	$1.69	26d	3	0.24mi
3101 Naylor Rd SE Washington, DC	1.0	1.0	800	$1,250	$1.56	0d	1	0.25mi
2439 25th St SE Washington, DC	1.0	1.0	679	$1,293	$1.90	17d	1	0.26mi
3103 Naylor Rd SE Washington, DC	2.0	1.0	768	$1,650	$2.15	26d	1	0.26mi
3035 30th St SE Unit 3B Washington, DC	2.0	1.0	950	$1,575	$1.66	26d	1	0.27mi
3035 30th St SE Washington, DC	2.0	1.0	750	$1,350	$1.80	0d	1	0.27mi
3035 30th St SE Unit 2M Washington, DC	1.0	1.0	900	$1,450	$1.61	26d	1	0.28mi
3105 Naylor Rd SE #104 Washington, DC	1.0	1.0	715	$1,350	$1.89	26d	1	0.28mi
3105 Naylor Rd SE Washington, DC	1.0	1.0	750	$1,350	$1.80	14d	1	0.28mi
3107 Naylor Rd SE #301 Washington, DC	1.0	1.0	700	$1,250	$1.79	26d	1	0.29mi
3130 Buena Vista Ter SE Unit 6 Washington, DC	3.0	1.0	855	$1,980	$2.32	18d	1	0.30mi
3212 28th St SE Unit D Washington, DC	3.0	1.0	790	$2,100	$2.66	26d	1	0.31mi
2429 Alabama Ave SE Unit 204 Washington, DC	3.0	1.0	635	$2,850	$4.49	23d	1	0.31mi
3109 Naylor Rd SE Washington, DC	2.0	1.0	655	$1,904	$2.91	9d	1	0.31mi
3111 Naylor Rd SE #301 Washington, DC	1.0	1.0	800	$1,350	$1.69	26d	1	0.32mi
3216 28th St SE #2 Washington, DC	3.0	1.0	600	$2,204	$3.67	26d	1	0.32mi
2627 Jasper St SE Washington, DC	1.0–2.0	1.0–1.5	838	$1,729	$2.06	26d	1	0.33mi
2621 30th St SE Unit 1 Washington, DC	2.0	1.0	800	$1,750	$2.19	26d	1	0.34mi
3158 Buena Vista Ter SE Unit 1 Washington, DC	3.0	1.0	800	$2,900	$3.62	26d	1	0.36mi
3009 Southern Ave SE Temple Hills, MD	3.0	1.0	909	$1,650	$1.82	45d	1	0.41mi
2219 Town Center Dr SE Washington, DC	1.0	1.0	668	$2,045	$3.06	6d	5	0.43mi
3001 Branch Ave Temple Hills, MD	2.0	1.0	769	$2,043	$2.66	0d	40	0.48mi
2603 Southern Ave SE Hillcrest Heights, MD	1.0–2.0	1.0	646	$1,375	$2.13	2d	7	0.54mi
2607 Naylor Rd SE Washington, DC	1.0	1.0	665	$1,275	$1.92	9d	4	0.57mi
2400 Good Hope Ct SE #204 Washington, DC	1.0	1.0	610	$1,550	$2.54	0d	1	0.61mi

HOA detail condo

• Monthly dues: $345 · $4,140/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-21
   days on market $110,000 Active 17 DOM
2. 2026-06-18
   days on market $110,000 Active 14 DOM
3. 2026-06-17
   days on market $110,000 Active 13 DOM
4. 2026-06-16
   days on market $110,000 Active 12 DOM
5. 2026-06-15
   days on market $110,000 Active 11 DOM
6. 2026-06-13
   days on market $110,000 Active 9 DOM
7. 2026-06-09
   days on market $110,000 Active 6 DOM
8. 2026-06-08
   days on market $110,000 Active 5 DOM
9. 2026-06-07
   days on market $110,000 Active 4 DOM
10. 2026-06-04
    remarks 362-char remark
11. 2026-06-04
    listed $110,000 Active 1 DOM

ⓘ 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: $849 · $71/mo
• Projected year-2 tax: $849 · $71/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 ≥103°F today · 16 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: $21,891
• − Mortgage interest: −$6,162
• − Property taxes: −$849
• − Insurance: −$550
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − HOA: −$4,140
• − Depreciation: −$3,200
• Taxable income: $3,488
• Est. tax owed @ 24.0%: −$837
• After-tax cash flow: $3,996/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

-38.9% since first listed

17 events — show timeline

• 2026-06-03 Listed $110,000 BRIGHT MLS
• 2024-03-28 Listing Removed — BRIGHT MLS
• 2023-11-29 Price Changed $140,000 BRIGHT MLS
• 2023-10-31 Listed $145,000 BRIGHT MLS
• 2023-10-28 Coming Soon — BRIGHT MLS
• 2023-02-04 Listing Removed — BRIGHT MLS
• 2022-12-07 Price Changed $130,000 BRIGHT MLS
• 2022-11-15 Price Changed $140,000 BRIGHT MLS
• 2022-11-10 Listed $145,000 BRIGHT MLS
• 2022-08-22 Sold (Public Records) $87,000 Public Records
• 2022-08-05 Sold (MLS) $87,000 BRIGHT MLS
• 2022-07-15 Pending — BRIGHT MLS
• 2022-07-12 Price Changed $89,900 BRIGHT MLS
• 2022-06-16 Listed $99,900 BRIGHT MLS
• 2011-05-16 Listing Removed — BRIGHT MLS
• 2010-11-15 Listed $75,000 BRIGHT MLS
• 2007-12-06 Sold (Public Records) $179,900 Public Records

Property tax history

-0.3%/yr

Latest (2025): $849 · -6.1% YoY. Source: county tax records.