4740 Connecticut Ave NW #1007 · Washington, DC 20008

$435,000

3 bd · 2.0 ba · 1,689 sqft · Condo public records · 10 Days on market

Built 1956

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks

Welcome to the Essex Condominium in the heart of Van Ness, where space, light, and convenience come together in this exceptional top-floor residence. As the largest unit in the building, this expansive three-bedroom, two-bathroom condo offers over 1,600 square feet of comfortable living space. A wall of windows fills the home with natural light and showcases beautiful city views, including views of the Washington Monument and National Cathedral. While the home would benefit from thoughtful updates, its exceptional size, desirable layout, and top-floor location provide a wonderful opportunity to create a truly special residence tailored to your style. The open living and dining areas offer a

Key facts

• Garage
• Built 1956

Property features AI

Exterior

• Parking: Has garage
• Security: Building concierge
• Home design: Condo; High-rise building (7 floors total)
• Construction: Building contains 166 units
• Exterior features: Located in The Essex building

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Condo unit in a full-service building with concierge and elevator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $435k.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $415k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $363k (16.6% below list).
• Recommended offer: $363k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 0.6% vs local median 2.5% in Washington — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Murch Es (651 students, 0% FRL); Deal Ms (1,391 students, 0% FRL); Jackson-Reed Hs (2,153 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 soft (-2.5%/yr); 184 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).
• This rent runs 35% of the median local income ($125k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($3k loan paydown + $-1k appreciation (-0.3% local appreciation)).
• District of Columbia County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 53% of rent; built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $362,939 (16.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1956 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.83% ✗
• Cap rate: 0.59%
• Cash-on-cash: -20.37%
• DSCR: 0.09
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.34% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -30.7%
• Equity multiple: -0.32×
• Total profit: $-160,695
• Equity at exit: $119,009

10-year hold

• IRR: -27.5%
• Equity multiple: -1.43×
• Total profit: $-296,163
• Equity at exit: $137,350

Cash invested: $121,800 (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 20008

• Home prices YoY: -0.1%
• Rents YoY: -2.5%
• Active inventory: 184
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,629 high
• Mortgage (P&I): −$2,281
• Tax est. 1.5%: −$544 /mo · $6,525/yr
• Insurance: −$181
• HOA est. from 19 same-building comps: −$1,929
• Vacancy / Maint / Mgmt: −$762
• Net cashflow: $-2,068

Break-even live

Break-even rent $6,247

Max offer price $135,762

Occupancy floor —

Sensitivity live

Price	-10% $-1,767	-5% $-1,918	+0% $-2,068	+5% $-2,218	+10% $-2,369
Rent	-10% $-2,355	-5% $-2,211	+0% $-2,068	+5% $-1,925	+10% $-1,781
Rate	-1.0pp $-1,849	-0.5pp $-1,957	base $-2,068	+0.5pp $-2,181	+1.0pp $-2,295

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: $108,750
• Closing costs: $13,050
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4850 Connecticut Ave NW Washington, DC	2.0	1.0–2.0	739	$2,490	$3.37	0d	32	0.06mi
4801 Connecticut Ave NW Washington, DC	4.0	1.0–2.0	1049	$4,392	$4.18	26d	1	0.07mi
4600 Connecticut Ave NW Washington, DC	2.0	1.0–2.0	800	$3,350	$4.18	0d	3	0.15mi
4530 Connecticut Ave NW Washington, DC	2.0	1.0–2.0	854	$2,950	$3.45	4d	6	0.23mi
4545 Connecticut Ave NW Washington, DC	1.0–2.0	1.0–2.0	987	$2,799	$2.83	3d	8	0.27mi
4500 Connecticut Ave NW Washington, DC	1.0–2.0	1.0–2.0	1037	$3,400	$3.28	7d	10	0.32mi
5211 Nebraska Ave NW Washington, DC	4.0	2.5	1792	$6,300	$3.52	20d	1	0.38mi
5233 Nebraska Ave NW Washington, DC	3.0	3.0	1378	$3,000	$2.18	26d	1	0.41mi
4411 Connecticut Ave NW Washington, DC	1.0–2.0	1.0–2.0	922	$4,055	$4.40	0d	13	0.48mi
3749 Kanawha St NW Washington, DC	3.0	2.5	2150	$4,800	$2.23	6d	1	0.64mi
4600 Wisconsin Ave NW Washington, DC	1.0–2.0	1.0–2.0	880	$4,200	$4.77	3d	7	0.65mi
5415 Connecticut Ave NW Washington, DC	2.0	1.0–2.0	752	$2,969	$3.95	0d	37	0.70mi
3003 Van Ness St NW Washington, DC	2.0	1.0–2.0	1020	$3,118	$3.06	0d	25	0.70mi
5425 Connecticut Ave NW Washington, DC	2.0	1.0	745	$3,175	$4.26	15d	8	0.75mi
2950 Van Ness St NW Washington, DC	1.0–2.0	1.0	974	$3,390	$3.48	0d	1	0.76mi
4000 Wisconsin Ave NW Washington, DC	1.0–3.0	1.0–2.0	1000	$8,995	$8.99	0d	48	0.83mi
4317 River Rd NW #1 Washington, DC	3.0	1.0	1200	$2,800	$2.33	4d	1	0.89mi
20 Ridge Sq NW Washington, DC	1.0–3.0	1.0–2.0	1178	$10,140	$8.61	0d	48	0.94mi
3726 Connecticut Ave NW Washington, DC	3.0	1.0–2.0	782	$4,199	$5.37	3d	24	0.99mi
3731 39th St NW Unit B200 Washington, DC	2.0	2.5	1322	$3,900	$2.95	21d	1	1.03mi
5300 Wisconsin Ave NW Washington, DC	3.0	1.0–2.5	1175	$7,995	$6.80	0d	72	1.05mi
3881 Porter St NW Unit A295 Washington, DC	3.0	2.0	1501	$3,900	$2.60	12d	1	1.06mi
3630 39th St NW Unit B530 Washington, DC	2.0	2.0	1501	$3,495	$2.33	26d	1	1.12mi
3401 38th St NW Washington, DC	2.0	1.0–2.0	786	$4,528	$5.76	0d	7	1.14mi
5923 33rd St NW Washington, DC	4.0	2.5	2000	$6,500	$3.25	20d	1	1.14mi
3801 Newark St NW Washington, DC	3.0	2.0	1365	$4,500	$3.30	26d	1	1.16mi
4440 Willard Ave Bethesda, MD	3.0	1.0–2.0	988	$5,887	$5.96	1d	36	1.20mi
5480 Wisconsin Ave Chevy Chase, MD	3.0	1.0–2.0	1034	$4,191	$4.05	1d	54	1.26mi
4201 Massachusetts Ave NW Washington, DC	3.0	1.0–2.0	975	$3,850	$3.95	0d	124	1.31mi
2745-2749 Ordway St NW Washington, DC	2.0	1.0	725	$2,600	$3.59	18d	1	1.32mi
5500 Friendship Blvd Chevy Chase, MD	2.0	1.0–2.0	801	$3,100	$3.87	1d	3	1.34mi
5500 Friendship Blvd Chevy Chase, MD	2.0	1.0–2.0	807	$3,000	$3.72	24d	5	1.34mi
3210 Wisconsin Ave NW Washington, DC	2.0	1.0–2.0	790	$3,695	$4.68	3d	9	1.37mi
2501 Porter St NW Washington, DC	1.0–2.0	1.0–2.0	961	$4,185	$4.35	0d	12	1.39mi
4100 Massachusetts Ave NW Washington, DC	3.0	1.0–2.5	945	$3,299	$3.49	4d	1	1.45mi
4615 N Park Ave Chevy Chase, MD	1.0–3.0	1.0–2.0	1373	$5,133	$3.74	0d	14	1.50mi
3265 Sutton Pl NW Unit A Washington, DC	2.0	2.5	1332	$4,000	$3.00	26d	1	1.50mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $435,000 Coming Soon 10 DOM
2. 2026-06-18
   days on market $435,000 Coming Soon 7 DOM
3. 2026-06-17
   days on market $435,000 Coming Soon 6 DOM
4. 2026-06-16
   days on market $435,000 Coming Soon 5 DOM
5. 2026-06-15
   days on market $435,000 Coming Soon 4 DOM
6. 2026-06-13
   days on market $435,000 Coming Soon 2 DOM
7. 2026-06-09
   days on market $435,000 Coming Soon 9 DOM
8. 2026-06-08
   days on market $435,000 Coming Soon 8 DOM
9. 2026-06-07
   days on market $435,000 Coming Soon 7 DOM
10. 2026-06-04
    days on market $435,000 Coming Soon 4 DOM
11. 2026-06-03
    days on market $435,000 Coming Soon 3 DOM
12. 2026-06-02
    days on market $435,000 Coming Soon 2 DOM
13. 2026-05-31
    remarks 699-char remark
14. 2026-05-31
    listed $435,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $43,553
• − Mortgage interest: −$24,367
• − Property taxes: −$6,525
• − Insurance: −$2,175
• − Repairs & maintenance: −$3,484
• − Management: −$3,484
• − HOA: −$23,148
• − Depreciation: −$12,655
• Taxable loss: −$32,285
• Est. tax savings @ 24.0%: +$7,748
• After-tax cash flow: $-17,067/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): 29,434
• Household income: $125,212
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 1953.0

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 White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 11% Black 10% Two or more races 9% Asian 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Slovak 4% Scotch-Irish 4% Romanian 4%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 8% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▼ -0.34%
• Current HPI: 289.2443
• Rent YoY: ▼ -2.53%
• 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