1109 Penn St NE #4 · Washington, DC 20002

$224,000

2 bd · 1.0 ba · 594 sqft · Condo public records · 117 Days on market

Built 1930 $285/mo HOA · 13% of rent

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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 +14.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• DSCR +4.5/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3% CLOSING HELP PLUS PLASMA TV. SS Appls. hwd flrs, W/ D, intercom system, new landscaping, recessed lighting, ceiling fans, jacuzzi tub, crown molding, CAC, pre-wired cable/phone, security fence, crown molding, granite counters, oak cabinets, sky lights in some units. low condo fee, 42" Plasma TV for first two ratified contracts. photos at floydsfavoritehomes .com

Key facts

• Open floor plan
• Tree-lined street
• Hardwood floors

Tags

• TREE-LINED STREET
• SPACIOUS CONDO
• HARDWOOD FLOORS
• OPEN FLOOR PLAN
• SHORT WALK TO UNION MARKET

Property features AI

Finance

• Other: Pets allowed on a case-by-case basis
• HOA & community: Monthly condo fee of $285; Condo fee covers exterior building maintenance, management, insurance, snow removal, trash, and water

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Condominium unit/flat; Garden-style building (1–4 floors); Entry on level 2; Building faces unspecified direction
• Construction: Brick construction; Effective year of renovation 2006; Year built source estimated
• Exterior features: Above-grade unit

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Electric oven/range; Refrigerator; Icemaker
• Bedrooms: Two bedrooms on the main level
• Flooring: Wood floors
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating (electric); Central air conditioning; Heat pump; Ceiling fans; Electric hot water
• Interior features: Open floor plan; Combination kitchen and dining area; Wood floors; Upgraded countertops; Drywall walls and ceilings
• Laundry & utility: Washer and dryer in unit; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $224k.

Deal economics

• At list price, monthly cash flow is $59 ($707/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $224k).
• Recommended offer: $204k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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.
• Zoned schools: Wheatley Education Campus (321 students, 0% FRL); Dunbar Hs (868 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 falling (-3.0%/yr); 558 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); high-income renter base; 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 $2k of loan paydown is wiped out by about $7k 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 117 days — a 9% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $203,840 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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: 1.01% ✓
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.38×
• Total profit: $-39,005
• Equity at exit: $33,399

10-year hold

• IRR: -18.9%
• Equity multiple: 0.14×
• Total profit: $-54,066
• Equity at exit: $19,367

Cash invested: $62,720 (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 20002

• Rents YoY: -3.0%
• Active inventory: 558
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,252 high
• Mortgage (P&I): −$1,175
• Tax from tax record: −$167 /mo · $2,001/yr
• Insurance: −$93
• HOA: −$285
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $59

Break-even live

Break-even rent $2,177

Max offer price $224,000

Occupancy floor 92%

Sensitivity live

Price	-10% $186	-5% $122	+0% $59	+5% $-4	+10% $-68
Rent	-10% $-119	-5% $-30	+0% $59	+5% $148	+10% $237
Rate	-1.0pp $172	-0.5pp $116	base $59	+0.5pp $1	+1.0pp $-58

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1130 Penn St NE #6 Washington, DC	2.0	2.0	724	$2,850	$3.94	26d	1	0.05mi
1141 Owen Pl NE #2 Washington, DC	2.0	1.0	546	$2,050	$3.75	6d	1	0.06mi
1152 Oates St NE Unit 3 Washington, DC	1.0	1.0	709	$1,997	$2.82	26d	1	0.08mi
1644 Montello Ave NE Unit B Washington, DC	1.0	1.0	466	$2,200	$4.72	6d	1	0.16mi
1246 Queen St NE #2 Washington, DC	2.0	1.0	700	$1,750	$2.50	9d	1	0.19mi
1250 Queen St NE Unit 1 Washington, DC	3.0	1.0	650	$2,475	$3.81	0d	1	0.19mi
1250 Holbrook Ter NE Washington, DC	2.0	2.0	750	$2,150	$2.87	22d	1	0.21mi
1703 W Virginia Ave NE Unit 1 Washington, DC	2.0	1.0	750	$2,450	$3.27	26d	1	0.22mi
1705 W Virginia Ave NE Unit 4 Washington, DC	2.0	1.0	750	$2,900	$3.87	26d	1	0.23mi
1167 Morse St NE Unit B1 Washington, DC	2.0	1.0	696	$3,000	$4.31	26d	1	0.23mi
1701 Montello Ave NE Unit B Washington, DC	1.0	1.0	592	$1,300	$2.20	24d	1	0.24mi
1233 Raum St NE Washington, DC	1.0	1.0	700	$1,595	$2.28	0d	1	0.24mi
1718 W Virginia Ave NE Unit 1 Washington, DC	2.0	1.0	750	$2,400	$3.20	26d	1	0.27mi
1723 Montello Ave NE #2 Washington, DC	2.0	1.0	750	$2,950	$3.93	26d	1	0.27mi
1261 Raum St NE Unit 3 Washington, DC	1.0	1.5	680	$1,600	$2.35	16d	1	0.28mi
1723 W Virginia Ave NE Unit 3 Washington, DC	1.0	1.0	600	$1,672	$2.79	26d	1	0.29mi
1219 K St NW Unit 203 Washington, DC	1.0	1.5	650	$2,250	$3.46	26d	1	0.33mi
1219 K St NW Unit 209 Washington, DC	1.0	1.0	600	$1,950	$3.25	26d	1	0.33mi
1219 K St NE Washington, DC	1.0–2.0	1.0–2.0	750	$3,350	$4.47	26d	1	0.33mi
919 12th St NE Washington, DC	1.0–2.0	1.0	736	$2,900	$3.94	26d	2	0.35mi
1326 Florida Ave NE Washington, DC	1.0–2.0	1.0	579	$2,150	$3.71	5d	4	0.39mi
1213 Staples St NE Unit B Washington, DC	2.0	1.0	685	$2,000	$2.92	26d	1	0.40mi
1358 Florida Ave NE Washington, DC	1.0	1.0	545	$1,550	$2.84	5d	1	0.42mi
819 12th St NE Unit 1 Washington, DC	1.0	1.0	675	$1,850	$2.74	26d	1	0.43mi
1102 Staples St NE #301 Washington, DC	2.0	1.0	659	$2,500	$3.79	26d	1	0.43mi
1102 Staples St NE #301 Washington, DC	2.0	1.0	659	$2,500	$3.79	7d	1	0.43mi
1659 Holbrook St NE #1 Washington, DC	2.0	1.0	681	$2,250	$3.30	26d	1	0.44mi
1144 Bladensburg Rd NE Washington, DC	1.0	1.0	550	$1,735	$3.15	26d	1	0.47mi
1821 Providence St NE Washington, DC	1.0	1.0	600	$1,750	$2.92	26d	1	0.47mi
1122 Bladensburg Rd NE Washington, DC	1.0–2.0	1.0–2.0	793	$2,550	$3.21	26d	6	0.47mi
1325 5th St NE Washington, DC	2.0	1.0–2.0	776	$6,680	$8.61	0d	29	0.48mi
1115 H St NE Washington, DC	1.0	1.0	588	$1,650	$2.81	26d	1	0.49mi
1214 Bladensburg Rd NE Washington, DC	1.0	1.0	619	$2,380	$3.84	16d	10	0.50mi
500 Penn St NE Washington, DC	1.0–3.0	1.0–2.0	966	$4,052	$4.19	0d	26	0.50mi
1111 H St NE #761 Washington, DC	1.0–2.0	1.5–2.0	748	$2,780	$3.71	0d	2	0.50mi
550 Morse St NE Washington, DC	1.0–2.0	1.0–2.0	855	$4,745	$5.55	0d	13	0.50mi
1209 6th St NE Unit B Washington, DC	2.0	1.0	702	$2,300	$3.28	26d	1	0.50mi
1629 L St NE Washington, DC	1.0	1.0	550	$1,300	$2.36	15d	1	0.50mi
1016 17th Pl NE #301 Washington, DC	1.0	1.0	506	$2,220	$4.39	26d	1	0.54mi
1012 17th Pl NE Unit 1 Washington, DC	1.0	1.0	525	$1,550	$2.95	18d	1	0.55mi

HOA detail condo

• Monthly dues: $285 · $3,420/yr
• Likely covers: cablelandscapingsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $224,000 Active 117 DOM
2. 2026-06-18
   days on market $224,000 Active 114 DOM
3. 2026-06-17
   days on market $224,000 Active 113 DOM
4. 2026-06-16
   days on market $224,000 Active 112 DOM
5. 2026-06-15
   days on market $224,000 Active 111 DOM
6. 2026-06-13
   days on market $224,000 Active 109 DOM
7. 2026-06-09
   days on market $224,000 Active 105 DOM
8. 2026-06-08
   days on market $224,000 Active 104 DOM
9. 2026-06-07
   days on market $224,000 Active 103 DOM
10. 2026-06-04
    days on market $224,000 Active 100 DOM
11. 2026-06-03
    days on market $224,000 Active 99 DOM
12. 2026-06-02
    days on market $224,000 Active 98 DOM
13. 2026-06-01
    days on market $224,000 Active 97 DOM
14. 2026-05-31
    days on market $224,000 Active 96 DOM
15. 2026-05-21
    status Active
16. 2026-02-19
    status Pending
17. 2025-11-25
    listed $224,000 Active
18. 2006-06-06
    soldstatus $225,000
19. 2006-05-08
    soldstatus $225,000 372-char remark

    Show marketing remark (372 chars)

    3% CLOSING HELP PLUS PLASMA TV. SS Appls. hwd flrs, W/ D, intercom system, new landscaping, recessed lighting, ceiling fans, jacuzzi tub, crown molding, CAC, pre-wired cable/phone, security fence, crown molding, granite counters, oak cabinets, sky lights in some units. low condo fee, 42" Plasma TV for first two ratified contracts. photos at floydsfavoritehomes .com

20. 2006-03-22
    historical 372-char remark

    Show marketing remark (372 chars)

    3% CLOSING HELP PLUS PLASMA TV. SS Appls. hwd flrs, W/ D, intercom system, new landscaping, recessed lighting, ceiling fans, jacuzzi tub, crown molding, CAC, pre-wired cable/phone, security fence, crown molding, granite counters, oak cabinets, sky lights in some units. low condo fee, 42" Plasma TV for first two ratified contracts. photos at floydsfavoritehomes .com

21. 2006-03-06
    listed $225,000 372-char remark

    Show marketing remark (372 chars)

    3% CLOSING HELP PLUS PLASMA TV. SS Appls. hwd flrs, W/ D, intercom system, new landscaping, recessed lighting, ceiling fans, jacuzzi tub, crown molding, CAC, pre-wired cable/phone, security fence, crown molding, granite counters, oak cabinets, sky lights in some units. low condo fee, 42" Plasma TV for first two ratified contracts. photos at floydsfavoritehomes .com

22. 2006-03-05
    historical
23. 2006-03-04
    listed

ⓘ 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: $2,001 · $167/mo
• Projected year-2 tax: $2,001 · $167/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 ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $27,018
• − Mortgage interest: −$12,547
• − Property taxes: −$2,001
• − Insurance: −$1,120
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − HOA: −$3,420
• − Depreciation: −$6,516
• Taxable loss: −$2,910
• Est. tax savings @ 24.0%: +$698
• After-tax cash flow: $1,405/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): 72,397
• Household income: $120,337
• Rent vs Own: 61.7% rent · 38.3% own
• Severe rent burden: 3854.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 41% Black 40% Two or more races 9% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 5% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -852.61%
• Current HPI: 396.6033
• Rent YoY: ▼ -3.04%
• 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

-0.4% since first listed

9 events — show timeline

• 2026-05-21 Relisted — BRIGHT MLS
• 2026-02-19 Pending — BRIGHT MLS
• 2025-11-25 Listed $224,000 BRIGHT MLS
• 2006-06-06 Sold (Public Records) $225,000 Public Records
• 2006-05-08 Sold (MLS) $225,000 MRIS
• 2006-03-22 Delisted — MRIS
• 2006-03-06 Listed $225,000 MRIS
• 2006-03-05 Delisted — MRIS
• 2006-03-04 Listed — MRIS

Property tax history

+2.4%/yr

Latest (2025): $2,001 · -1.9% YoY. Source: county tax records.