3401 15th St SE · Washington, DC 20032

$699,900

4 bd · 4.0 ba · 2,520 sqft · MultiFamily public records · 96 Days on market

Built 1945 6,445 sqft lot

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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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Excellent value add opportunity for Investor or Owner Dweller! Priced to sell, this 4-unit building in a burgeoning area of SE DC with 2-1 bedroom and 2-2 bedroom units are poised to bring the next owner a terrific ROI. 1 of the 2 bedrooms is vacant and ready for reno. Other units are in good shape and occupied. Each unit has it's own CAC unit and tenant is responsible for electricity and gas. Water is common. Tenants are month to month. Solid brick building with a basement area the could be used to supply additional storage for unit that could increase value for tenants. Best priced building in the area, this one is a go for the savvy, forward thinking buyer who wants in on the ground floor of future development. Don't let it slip by. Schedule your viewing today.

Key facts

• Updated appliances
• Hardwood flooring
• Original stove

Tags

• UPDATED APPLIANCES
• STAINLESS STEEL REFRIGERATOR
• HIGH-EFFICIENCY MICROWAVE
• ORIGINAL STOVE
• HARDWOOD FLOORING
• AMPLE CLOSET SPACE

Property features AI

Finance

• Financial info: Four-unit multi-family building (2 x 1-bedroom, 2 x 2-bedroom); Below-grade unfinished area approximately 980; Above-grade finished area approximately 2,520; Improvement and land assessed separately (assessed values available); Taxes and assessment year available (2025)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Semi-detached property; Fee simple ownership
• Construction: Brick construction; Block and brick/mortar foundation; Built year sourced from assessor
• Exterior features: Above-grade and below-grade structures present; Not on tidal water

Interior

• Bedrooms: Four units total with two one-bedroom units and two two-bedroom units
• Heating & cooling: Hot water heating; Natural gas heating fuel; Electric cooling fuel
• Interior features: No basement; Accessibility features present

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $571k (18.5% below list).
• Recommended offer: $571k (18.5% below list) — sets the bar for 1% rule.
• 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.
• Market conditions: Rents rising (+4.0%/yr); 146 active listings in the ZIP; 13 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).
• At $5,707/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 $5k of loan paydown is wiped out by about $21k 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 96 days — a 9% lower offer ($637k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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 1945 — 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 $570,700 (18.5% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.96% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.50×
• Total profit: $-98,161
• Equity at exit: $104,357

10-year hold

• IRR: -3.7%
• Equity multiple: 0.74×
• Total profit: $-50,303
• Equity at exit: $60,515

Cash invested: $195,972 (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: 146
• Price-to-rent: 39.2×

Monthly cashflow live

• Estimated rent: $5,707 high
• Mortgage (P&I): −$3,670
• Tax from tax record: −$391 /mo · $4,694/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,198
• Net cashflow: $155

Break-even live

Break-even rent $5,510

Max offer price $699,900

Occupancy floor 92%

Sensitivity live

Price	-10% $552	-5% $354	+0% $155	+5% $-43	+10% $-241
Rent	-10% $-295	-5% $-70	+0% $155	+5% $381	+10% $606
Rate	-1.0pp $508	-0.5pp $333	base $155	+0.5pp $-26	+1.0pp $-210

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,978
▸ 2× units	1	1	$2,728
Total (4 units)			$5,707

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: $174,975
• Closing costs: $20,997
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4005 Blakney Ln SE Washington, DC	3.0	2.5	2024	$3,000	$1.48	18d	1	0.66mi
2390 Elvans Rd SE Washington, DC	3.0	2.5	2176	$3,190	$1.47	8d	1	0.73mi
2520 Elvans Rd SE Washington, DC	3.0	2.5	2760	$3,800	$1.38	25d	1	0.77mi
2530 Elvans Rd SE Unit B Washington, DC	5.0	3.5	2760	$7,500	$2.72	8d	1	0.79mi
1722 Gainesville St SE Washington, DC	4.0	2.5	2000	$3,490	$1.75	25d	1	0.82mi
357 Parkland Pl SE Washington, DC	4.0	2.0	2400	$2,300	$0.96	25d	1	0.82mi
357 Parkland Pl SE Unit 1 Washington, DC	4.0	2.0	2400	$2,200	$0.92	25d	1	0.82mi
911 Bellevue St SE Washington, DC	4.0	2.0	1820	$3,400	$1.87	25d	1	0.87mi
224 Malcolm X Ave SE Washington, DC	4.0	3.5	2052	$3,500	$1.71	25d	1	0.98mi
1433 Howard Rd SE Washington, DC	5.0	3.5	2000	$7,500	$3.75	20d	1	1.05mi
1325 Valley Pl SE Washington, DC	4.0	2.0	2138	$6,500	$3.04	25d	1	1.34mi
1505 West St SE Unit 1 Washington, DC	3.0	2.5	2100	$3,300	$1.57	3d	1	1.35mi
2322 Shannon Pl SE Washington, DC	3.0	3.5	1800	$2,800	$1.56	25d	1	1.42mi

Listing history 32 events

1. 2026-06-21
   days on market $699,900 Active 96 DOM
2. 2026-06-18
   days on market $699,900 Active 93 DOM
3. 2026-06-17
   days on market $699,900 Active 92 DOM
4. 2026-06-16
   days on market $699,900 Active 91 DOM
5. 2026-06-15
   days on market $699,900 Active 90 DOM
6. 2026-06-13
   days on market $699,900 Active 88 DOM
7. 2026-06-09
   days on market $699,900 Active 84 DOM
8. 2026-06-08
   days on market $699,900 Active 83 DOM
9. 2026-06-07
   days on market $699,900 Active 82 DOM
10. 2026-06-04
    days on market $699,900 Active 79 DOM
11. 2026-06-03
    days on market $699,900 Active 78 DOM
12. 2026-06-02
    days on market $699,900 Active 77 DOM
13. 2026-06-01
    days on market $699,900 Active 76 DOM
14. 2026-05-31
    days on market $699,900 Active 75 DOM
15. 2026-04-22
    price $699,900
16. 2026-03-17
    listed $709,900 Active
17. 2024-06-21
    soldstatus $680,000
18. 2024-06-14
    soldstatus $680,000 Closed 774-char remark

    Show marketing remark (774 chars)

    Excellent value add opportunity for Investor or Owner Dweller! Priced to sell, this 4-unit building in a burgeoning area of SE DC with 2-1 bedroom and 2-2 bedroom units are poised to bring the next owner a terrific ROI. 1 of the 2 bedrooms is vacant and ready for reno. Other units are in good shape and occupied. Each unit has it's own CAC unit and tenant is responsible for electricity and gas. Water is common. Tenants are month to month. Solid brick building with a basement area the could be used to supply additional storage for unit that could increase value for tenants. Best priced building in the area, this one is a go for the savvy, forward thinking buyer who wants in on the ground floor of future development. Don't let it slip by. Schedule your viewing today.

19. 2024-06-13
    status Active 774-char remark

    Show marketing remark (774 chars)

    Excellent value add opportunity for Investor or Owner Dweller! Priced to sell, this 4-unit building in a burgeoning area of SE DC with 2-1 bedroom and 2-2 bedroom units are poised to bring the next owner a terrific ROI. 1 of the 2 bedrooms is vacant and ready for reno. Other units are in good shape and occupied. Each unit has it's own CAC unit and tenant is responsible for electricity and gas. Water is common. Tenants are month to month. Solid brick building with a basement area the could be used to supply additional storage for unit that could increase value for tenants. Best priced building in the area, this one is a go for the savvy, forward thinking buyer who wants in on the ground floor of future development. Don't let it slip by. Schedule your viewing today.

20. 2024-06-10
    historical Active Under Contract 774-char remark

    Show marketing remark (774 chars)

    Excellent value add opportunity for Investor or Owner Dweller! Priced to sell, this 4-unit building in a burgeoning area of SE DC with 2-1 bedroom and 2-2 bedroom units are poised to bring the next owner a terrific ROI. 1 of the 2 bedrooms is vacant and ready for reno. Other units are in good shape and occupied. Each unit has it's own CAC unit and tenant is responsible for electricity and gas. Water is common. Tenants are month to month. Solid brick building with a basement area the could be used to supply additional storage for unit that could increase value for tenants. Best priced building in the area, this one is a go for the savvy, forward thinking buyer who wants in on the ground floor of future development. Don't let it slip by. Schedule your viewing today.

21. 2024-04-18
    status Pending 774-char remark

    Show marketing remark (774 chars)

    Excellent value add opportunity for Investor or Owner Dweller! Priced to sell, this 4-unit building in a burgeoning area of SE DC with 2-1 bedroom and 2-2 bedroom units are poised to bring the next owner a terrific ROI. 1 of the 2 bedrooms is vacant and ready for reno. Other units are in good shape and occupied. Each unit has it's own CAC unit and tenant is responsible for electricity and gas. Water is common. Tenants are month to month. Solid brick building with a basement area the could be used to supply additional storage for unit that could increase value for tenants. Best priced building in the area, this one is a go for the savvy, forward thinking buyer who wants in on the ground floor of future development. Don't let it slip by. Schedule your viewing today.

22. 2024-04-16
    status Active 774-char remark

    Show marketing remark (774 chars)

    Excellent value add opportunity for Investor or Owner Dweller! Priced to sell, this 4-unit building in a burgeoning area of SE DC with 2-1 bedroom and 2-2 bedroom units are poised to bring the next owner a terrific ROI. 1 of the 2 bedrooms is vacant and ready for reno. Other units are in good shape and occupied. Each unit has it's own CAC unit and tenant is responsible for electricity and gas. Water is common. Tenants are month to month. Solid brick building with a basement area the could be used to supply additional storage for unit that could increase value for tenants. Best priced building in the area, this one is a go for the savvy, forward thinking buyer who wants in on the ground floor of future development. Don't let it slip by. Schedule your viewing today.

23. 2024-04-16
    historical 774-char remark

    Show marketing remark (774 chars)

    Excellent value add opportunity for Investor or Owner Dweller! Priced to sell, this 4-unit building in a burgeoning area of SE DC with 2-1 bedroom and 2-2 bedroom units are poised to bring the next owner a terrific ROI. 1 of the 2 bedrooms is vacant and ready for reno. Other units are in good shape and occupied. Each unit has it's own CAC unit and tenant is responsible for electricity and gas. Water is common. Tenants are month to month. Solid brick building with a basement area the could be used to supply additional storage for unit that could increase value for tenants. Best priced building in the area, this one is a go for the savvy, forward thinking buyer who wants in on the ground floor of future development. Don't let it slip by. Schedule your viewing today.

24. 2024-03-26
    listed $660,000 Active 774-char remark

    Show marketing remark (774 chars)

    Excellent value add opportunity for Investor or Owner Dweller! Priced to sell, this 4-unit building in a burgeoning area of SE DC with 2-1 bedroom and 2-2 bedroom units are poised to bring the next owner a terrific ROI. 1 of the 2 bedrooms is vacant and ready for reno. Other units are in good shape and occupied. Each unit has it's own CAC unit and tenant is responsible for electricity and gas. Water is common. Tenants are month to month. Solid brick building with a basement area the could be used to supply additional storage for unit that could increase value for tenants. Best priced building in the area, this one is a go for the savvy, forward thinking buyer who wants in on the ground floor of future development. Don't let it slip by. Schedule your viewing today.

25. 2024-03-23
    historical $660,000 774-char remark

    Show marketing remark (774 chars)

    Excellent value add opportunity for Investor or Owner Dweller! Priced to sell, this 4-unit building in a burgeoning area of SE DC with 2-1 bedroom and 2-2 bedroom units are poised to bring the next owner a terrific ROI. 1 of the 2 bedrooms is vacant and ready for reno. Other units are in good shape and occupied. Each unit has it's own CAC unit and tenant is responsible for electricity and gas. Water is common. Tenants are month to month. Solid brick building with a basement area the could be used to supply additional storage for unit that could increase value for tenants. Best priced building in the area, this one is a go for the savvy, forward thinking buyer who wants in on the ground floor of future development. Don't let it slip by. Schedule your viewing today.

26. 2001-05-16
    soldstatus $133,000
27. 2001-04-18
    soldstatus $133,000
28. 2001-01-07
    historical
29. 2000-11-20
    listed $135,000
30. 1996-09-18
    soldstatus $100,000
31. 1993-04-27
    soldstatus $27,000
32. 1989-03-01
    soldstatus $85,000

ⓘ 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: $4,694 · $391/mo
• Projected year-2 tax: $4,694 · $391/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 ≥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: $68,484
• − Mortgage interest: −$39,205
• − Property taxes: −$4,694
• − Insurance: −$3,500
• − Repairs & maintenance: −$5,479
• − Management: −$5,479
• − Depreciation: −$20,361
• Taxable loss: −$10,233
• Est. tax savings @ 24.0%: +$2,456
• After-tax cash flow: $4,321/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

+723.4% since first listed

18 events — show timeline

• 2026-04-22 Price Changed $699,900 BRIGHT MLS
• 2026-03-17 Listed $709,900 BRIGHT MLS
• 2024-06-21 Sold (Public Records) $680,000 Public Records
• 2024-06-14 Sold (MLS) $680,000 BRIGHT MLS
• 2024-06-13 Relisted — BRIGHT MLS
• 2024-06-10 Contingent — BRIGHT MLS
• 2024-04-18 Pending — BRIGHT MLS
• 2024-04-16 Relisted — BRIGHT MLS
• 2024-04-16 Listing Removed — BRIGHT MLS
• 2024-03-26 Listed $660,000 BRIGHT MLS
• 2024-03-23 Coming Soon $660,000 BRIGHT MLS
• 2001-05-16 Sold (Public Records) $133,000 Public Records
• 2001-04-18 Sold (MLS) $133,000 MRIS
• 2001-01-07 Delisted — MRIS
• 2000-11-20 Listed $135,000 MRIS
• 1996-09-18 Sold (Public Records) $100,000 Public Records
• 1993-04-27 Sold (Public Records) $27,000 Public Records
• 1989-03-01 Sold (Public Records) $85,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $4,694 · +3.5% YoY. Source: county tax records.