2400 Good Hope Rd SE #3 · Washington, DC 20020

$115,000

3 bd · 1.0 ba · 816 sqft · Condo public records · 154 Days on market

Built 1940 $529/mo HOA · 24% 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
• 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

Key facts

• $529 HOA
• Built 1940
• Listed 153 days

Property features AI

Finance

• Other: Ownership interest: Condominium; Improvement and land assessed values available
• HOA & community: Condo fee $529 per month; Condo fee includes common area maintenance and water

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Natural gas heating and hot water
• 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; Year built estimated
• Exterior features: Not in a federal flood zone; Tidal water not present; Pets allowed with breed restrictions

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Radiator heating; Natural gas hot water
• Interior features: Estimated living area; No basement
• Laundry & utility: No in-unit washer/dryer or hookups

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 (+3.9%/yr); 296 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,177/mo this rent would consume 48% of the median local household income ($54k/yr) (locally 5148% 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 $795 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 $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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 $20k; list at $115k implies a 476% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 1.89% ✓
• Cap rate: 11.29%
• Cash-on-cash: 17.84%
• DSCR: 1.79
• GRM: 4.4

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: 7.7%
• Equity multiple: 1.31×
• Total profit: $9,876
• Equity at exit: $17,147

10-year hold

• IRR: 18.2%
• Equity multiple: 2.61×
• Total profit: $51,766
• Equity at exit: $9,943

Cash invested: $32,200 (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 20020

• Rents YoY: 3.9%
• Active inventory: 296
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,177 high
• Mortgage (P&I): −$603
• Tax from tax record: −$61 /mo · $736/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$529
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $412

Break-even live

Break-even rent $1,655

Max offer price $115,000

Occupancy floor 76%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2300 Good Hope Rd SE Washington, DC	2.0	1.0–2.0	1020	$1,913	$1.88	24d	6	0.16mi
2562 Naylor Rd SE Washington, DC	1.0–2.0	1.0	790	$2,075	$2.63	2d	21	0.19mi
1907 Marion Barry Ave SE Washington, DC	2.0	1.0	900	$1,495	$1.66	24d	1	0.28mi
1907 Good Hope Ct SE #309 Washington, DC	2.0	1.0	670	$1,595	$2.38	24d	1	0.28mi
1953 19th Pl SE Apt 104 Washington, DC	3.0	1.0	980	$2,800	$2.86	5d	1	0.33mi
1953 19th Pl SE Apt 301 Washington, DC	3.0	1.0	980	$5,301	$5.41	24d	1	0.34mi
1847 Marion Barry Ave SE Washington, DC	1.0–2.0	1.0	725	$1,525	$2.10	24d	1	0.38mi
2440 S St SE Unit 4 Washington, DC	3.0	1.0	800	$2,450	$3.06	7d	1	0.38mi
2515 R St SE Washington, DC	1.0–2.0	1.0	812	$1,755	$2.16	5d	2	0.42mi
2495 Alabama Ave SE Unit 302 Washington, DC	3.0	1.0	825	$2,600	$3.15	22d	1	0.46mi
2621 30th St SE Unit 1 Washington, DC	2.0	1.0	800	$1,750	$2.19	24d	1	0.49mi
2805 28th St SE Unit 1 Washington, DC	2.0	1.0	800	$1,690	$2.11	24d	1	0.49mi
1737 T St SE Washington, DC	2.0	1.0	800	$2,500	$3.12	4d	1	0.49mi
2801 R St SE Unit 2 Washington, DC	2.0	1.0	700	$1,569	$2.24	24d	1	0.50mi
2341 Green St SE Washington, DC	2.0	1.0	741	$1,225	$1.65	24d	1	0.51mi
2833 28th St SE Unit 4 Washington, DC	3.0	1.0	820	$2,200	$2.68	24d	1	0.51mi
1721 T St SE Washington, DC	1.0–2.0	1.0	785	$1,980	$2.52	22d	6	0.52mi
1616 27th St SE Unit 6 Washington, DC	3.0	1.0	1100	$2,850	$2.59	24d	1	0.52mi
2821 R St SE Washington, DC	2.0	1.0	853	$1,650	$1.93	24d	1	0.52mi
2716 29th St SE Washington, DC	2.0	1.0	850	$2,000	$2.35	24d	1	0.58mi
1721 Minnesota Ave SE Washington, DC	3.0	1.0	680	$1,450	$2.13	24d	1	0.58mi
1526 V St SE Unit 2 Washington, DC	2.0	1.0	800	$1,700	$2.12	24d	1	0.59mi
1525 28th St SE Unit 302 Washington, DC	3.0	1.0	900	$2,100	$2.33	24d	1	0.60mi
2816 Hartford St SE Washington, DC	3.0	1.0	760	$9,000	$11.84	4d	1	0.60mi
2215 Minnesota Ave SE Unit 18 Washington, DC	4.0	2.0	990	$4,500	$4.55	24d	1	0.60mi
2215 Minnesota Ave SE Unit 3 Washington, DC	3.0	1.0	750	$2,500	$3.33	24d	1	0.60mi
1550 27th St SE Washington, DC	2.0	1.0	660	$1,250	$1.89	4d	1	0.60mi
1618 18th St SE Unit 1 Washington, DC	2.0	1.0	800	$1,850	$2.31	24d	1	0.61mi
2841 Gainesville St SE #201 Washington, DC	2.0	1.0	784	$1,900	$2.42	2d	1	0.62mi
2847 Gainesville St SE Unit B2 Washington, DC	2.0	1.0	710	$1,700	$2.39	24d	1	0.63mi
2847 Gainesville St SE Unit 303 Washington, DC	3.0	1.0	902	$2,400	$2.66	24d	1	0.63mi
2838 Hartford St SE #304 Washington, DC	2.0	1.0	775	$1,500	$1.94	2d	1	0.63mi
2838 Hartford St SE Washington, DC	2.0	1.0	785	$1,538	$1.96	18d	2	0.63mi
1720 R St SE Washington, DC	3.0	1.0	750	$2,500	$3.33	24d	1	0.63mi
1516 Marion Barry Ave SE Unit 301 Washington, DC	3.0	2.0	1100	$1,795	$1.63	7d	1	0.66mi
2925-2929 Pennsylvania Ave SE Unit 106 Washington, DC	4.0	1.0	988	$4,200	$4.25	24d	1	0.66mi
2925-2929 Pennsylvania Ave SE Unit 204 Washington, DC	3.0	1.0	980	$3,000	$3.06	4d	1	0.66mi
2925-2929 Pennsylvania Ave SE Unit 106 Washington, DC	4.0	1.0	980	$4,200	$4.29	4d	1	0.66mi
2472 Alabama Ave SE Unit B2 Washington, DC	3.0	1.0	827	$2,500	$3.02	24d	1	0.66mi
1622 17th St SE Unit 2001 Washington, DC	2.0	1.0	535	$1,850	$3.46	24d	1	0.67mi

HOA detail condo

• Monthly dues: $529 · $6,348/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $115,000 Active 154 DOM
2. 2026-06-17
   days on market $115,000 Active 153 DOM
3. 2026-06-16
   days on market $115,000 Active 152 DOM
4. 2026-06-15
   days on market $115,000 Active 151 DOM
5. 2026-06-13
   days on market $115,000 Active 149 DOM
6. 2026-06-09
   days on market $115,000 Active 145 DOM
7. 2026-06-08
   days on market $115,000 Active 144 DOM
8. 2026-06-07
   days on market $115,000 Active 143 DOM
9. 2026-06-04
   days on market $115,000 Active 140 DOM
10. 2026-06-03
    days on market $115,000 Active 139 DOM
11. 2026-06-02
    days on market $115,000 Active 138 DOM
12. 2026-06-01
    days on market $115,000 Active 137 DOM
13. 2026-05-31
    listed $115,000 Active 136 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: $736 · $61/mo
• Projected year-2 tax: $736 · $61/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 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 14 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: $26,129
• − Mortgage interest: −$6,442
• − Property taxes: −$736
• − Insurance: −$1,372
• − Repairs & maintenance: −$2,090
• − Management: −$2,090
• − HOA: −$6,348
• − Depreciation: −$3,345
• Taxable income: $3,704
• Est. tax owed @ 24.0%: −$889
• After-tax cash flow: $4,059/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

+476.4% since first listed

15 events — show timeline

• 2026-01-16 Listed $115,000 BRIGHT MLS
• 2026-01-12 Coming Soon $115,000 BRIGHT MLS
• 2019-02-01 Listing Removed — BRIGHT MLS
• 2019-01-31 Relisted — BRIGHT MLS
• 2019-01-28 Listing Removed — BRIGHT MLS
• 2019-01-28 Listed $30,000 BRIGHT MLS
• 2014-10-29 Delisted — MRIS
• 2014-10-29 Listing Removed — BRIGHT MLS
• 2014-05-23 Listed — MRIS
• 2014-05-23 Listed $80,000 BRIGHT MLS
• 2014-01-30 Delisted — MRIS
• 2014-01-30 Listing Removed — BRIGHT MLS
• 2014-01-23 Listed — MRIS
• 2014-01-23 Listed $80,000 BRIGHT MLS
• 1976-01-09 Sold (Public Records) $19,950 Public Records

Property tax history

-2.0%/yr

Latest (2025): $736 · +1.9% YoY. Source: county tax records.