3937 Pennsylvania Ave SE #102 · Washington, DC 20020

$120,999

1 bd · 1.0 ba · 583 sqft · Condo public records · 42 Days on market

Built 1940 $349/mo HOA · 20% of rent

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Why this score? — see what drove the C+ 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 +23.2/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 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

Experience stylish city living in this move-in ready modern condo located in the heart of Washington, D. C. . This beautifully updated 1-bedroom, 1-bathroom residence offers the perfect blend of comfort, convenience, and contemporary design. Step inside to discover a bright and inviting living space featuring updated flooring, refined finishes, and a warm, modern atmosphere ideal for relaxing or entertaining. The thoughtfully renovated kitchen showcases rich wood cabinetry, a full-size refrigerator, dishwasher, and generous cabinet storage designed to make everyday living effortless. Perfectly positioned for convenience, this home offers easy access to Skyland Town Center, Navy Yard, and Ea

Key facts

• Modern condo
• Rich wood cabinetry
• Renovated kitchen

Tags

• MODERN CONDO
• UPDATED FLOORING
• RENOVATED KITCHEN
• RICH WOOD CABINETRY
• NEARBY METROBUS ROUTES
• CLOSE PROXIMITY TO METRO LINES

Property features AI

Finance

• Other: Not located in a federal flood zone
• HOA & community: Monthly condo fee of $349 covering common area maintenance; Ground rent paid annually

Exterior

• Utilities: Public water; No septic system; Electric service available; Cable internet available
• Home design: Condominium unit (unit/flat); Garden-style building (1–4 floors); Entry on first level; Estimated year built
• Construction: Brick construction; Above-grade structure
• Exterior features: Located in city limits; No tidal water

Interior

• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom (one full on main level)
• Heating & cooling: Forced air heating; Central air conditioning; Electric hot water
• Interior features: Estimated living area; No basement
• Laundry & utility: Dryer in unit; Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $121k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $121k).
• Recommended offer: $117k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 19d 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).
• This rent runs 38% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $836 of loan paydown is wiped out by about $4k 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 42 days — a 3% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $121k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,369 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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 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. 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: 1.41% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.73%
• DSCR: 1.34
• GRM: 5.9

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-4,006
• Equity at exit: $18,041

10-year hold

• IRR: 7.9%
• Equity multiple: 1.63×
• Total profit: $21,477
• Equity at exit: $10,462

Cash invested: $33,880 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,708 high
• Mortgage (P&I): −$635
• Tax from tax record: −$97 /mo · $1,161/yr
• Insurance: −$50
• HOA: −$349
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $218

Break-even live

Break-even rent $1,431

Max offer price $120,999

Occupancy floor 82%

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: $30,250
• Closing costs: $3,630
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3923 Pennsylvania Ave SE #301 Washington, DC	2.0	1.0	652	$1,850	$2.84	24d	1	0.05mi
2115 Suitland Ter SE Washington, DC	2.0	1.0	637	$1,695	$2.66	24d	1	0.08mi
3956 Pennsylvania Ave SE #203 Washington, DC	2.0	1.0	636	$1,600	$2.52	7d	1	0.08mi
3935 S St SE #304 Washington, DC	2.0	1.0	735	$2,500	$3.40	24d	1	0.09mi
2114 Suitland Ter SE Washington, DC	2.0	1.0	650	$1,800	$2.77	24d	1	0.11mi
2001 Fort Davis St SE #202 Washington, DC	2.0	1.0	614	$1,650	$2.69	24d	1	0.14mi
2107 Fort Davis St SE #301 Washington, DC	2.0	1.0	620	$1,700	$2.74	18d	1	0.16mi
3930 Suitland Rd Suitland, MD	1.0–2.0	1.0	772	$1,240	$1.61	1d	29	0.18mi
3812 W St SE #101 Washington, DC	2.0	1.0	629	$1,800	$2.86	24d	1	0.18mi
3811 V St SE Washington, DC	2.0	1.0	629	$1,595	$2.54	1d	1	0.18mi
3808 W St SE #101 Washington, DC	2.0	1.0	623	$2,200	$3.53	24d	1	0.19mi
4113 Southern Ave SE Capitol Heights, MD	3.0	1.0–1.5	816	$1,559	$1.91	1d	45	0.24mi
3901 Suitland Rd Suitland, MD	1.0–2.0	1.0	816	$1,335	$1.64	2d	10	0.26mi
2057 38th St SE #301 Washington, DC	2.0	1.0	625	$1,700	$2.72	18d	1	0.27mi
2017 37th St SE #301 Washington, DC	2.0	1.0	644	$1,895	$2.94	24d	1	0.32mi
4110 Suitland Rd Suitland, MD	1.0–3.0	1.0–2.0	955	$1,248	$1.31	1d	15	0.63mi
4348 Southern Ave SE Washington, DC	2.0	1.0	650	$2,300	$3.54	24d	1	0.80mi
4348 Southern Ave SE Unit Radiance Washington, DC	2.0	1.0	550	$2,200	$4.00	18d	1	0.80mi
3101 Pennsylvania Ave SE Washington, DC	1.0	1.0	665	$1,195	$1.80	2d	1	0.90mi
3001 Branch Ave Temple Hills, MD	2.0	1.0	769	$1,678	$2.18	1d	43	0.97mi
1721 29th St SE Unit 1 Washington, DC	1.0	1.0	725	$1,395	$1.92	20d	1	1.03mi
2219 Town Center Dr SE Washington, DC	1.0	1.0	668	$2,045	$3.06	5d	5	1.09mi
2801 R St SE Unit 2 Washington, DC	2.0	1.0	700	$1,569	$2.24	24d	1	1.12mi
3416 Curtis Dr Suitland, MD	1.0–3.0	1.0–1.5	779	$1,306	$1.68	2d	25	1.14mi
2562 Naylor Rd SE Washington, DC	1.0–2.0	1.0	790	$1,535	$1.94	2d	21	1.15mi
3105 Naylor Rd SE Washington, DC	1.0	1.0	750	$1,350	$1.80	12d	1	1.16mi
3109 Naylor Rd SE Washington, DC	2.0	1.0	655	$1,904	$2.91	7d	1	1.16mi
3101 Naylor Rd SE Washington, DC	1.0	1.0	764	$1,325	$1.73	24d	2	1.16mi
3105 Naylor Rd SE #104 Washington, DC	1.0	1.0	715	$1,350	$1.89	24d	1	1.16mi
3107 Naylor Rd SE #301 Washington, DC	1.0	1.0	700	$1,250	$1.79	24d	1	1.16mi
2641 Shadyside Ave Suitland, MD	1.0–3.0	1.0–1.5	860	$1,230	$1.43	1d	16	1.17mi
1527 28th St SE Washington, DC	1.0	1.0	700	$1,150	$1.64	24d	1	1.19mi
2847 Gainesville St SE Unit B2 Washington, DC	2.0	1.0	710	$1,700	$2.39	24d	1	1.19mi
3103 Good Hope Ave Hillcrest Heights, MD	3.0	1.0–2.0	851	$1,898	$2.23	1d	12	1.20mi
1560 27th St SE Washington, DC	1.0	1.0	660	$1,100	$1.67	24d	1	1.22mi
1550 27th St SE Washington, DC	2.0	1.0	660	$1,250	$1.89	3d	1	1.22mi
1550 27th St SE Washington, DC	1.0	1.0	550	$1,100	$2.00	24d	1	1.22mi
2515 R St SE Washington, DC	1.0–2.0	1.0	812	$1,585	$1.95	5d	2	1.23mi
2607 Naylor Rd SE Washington, DC	1.0	1.0	665	$1,275	$1.92	7d	4	1.24mi
2843 Minnesota Ave SE Unit 1 Washington, DC	1.0	1.0	631	$1,285	$2.04	24d	1	1.26mi

HOA detail condo

• Monthly dues: $349 · $4,188/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $120,999 Active 42 DOM
2. 2026-06-17
   days on market $120,999 Active 41 DOM
3. 2026-06-16
   days on market $120,999 Active 40 DOM
4. 2026-06-15
   days on market $120,999 Active 39 DOM
5. 2026-06-13
   days on market $120,999 Active 37 DOM
6. 2026-06-09
   days on market $120,999 Active 33 DOM
7. 2026-06-08
   days on market $120,999 Active 32 DOM
8. 2026-06-07
   days on market $120,999 Active 31 DOM
9. 2026-06-04
   days on market $120,999 Active 28 DOM
10. 2026-06-03
    days on market $120,999 Active 27 DOM
11. 2026-06-02
    days on market $120,999 Active 26 DOM
12. 2026-06-02
    price $120,999 Active 25 DOM
13. 2026-06-01
    days on market $129,999 Active 25 DOM
14. 2026-05-31
    days on market $129,999 Active 24 DOM
15. 2026-05-07
    listed $129,999 Active
16. 2026-05-03
    historical
17. 2026-03-08
    price $129,999
18. 2026-01-15
    listed $144,999 Active
19. 2026-01-14
    historical
20. 2025-12-14
    listed $144,999 Active
21. 2025-11-28
    historical
22. 2025-10-03
    price $144,999
23. 2025-07-18
    listed $169,999 Active
24. 2014-07-09
    soldstatus $75,000
25. 2014-07-02
    historical
26. 2014-06-25
    soldstatus $75,000 Sold
27. 2014-06-25
    soldstatus $75,000
28. 2014-05-25
    status Contract
29. 2014-05-25
    historical
30. 2014-05-21
    listed $65,000 Active
31. 2014-05-20
    listed $65,000
32. 2014-03-25
    soldstatus $26,000
33. 1975-08-13
    soldstatus $17,250

ⓘ 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: $1,161 · $97/mo
• Projected year-2 tax: $1,161 · $97/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 5/10 Major 22% 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: $20,491
• − Mortgage interest: −$6,778
• − Property taxes: −$1,161
• − Insurance: −$605
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − HOA: −$4,188
• − Depreciation: −$3,520
• Taxable income: $961
• Est. tax owed @ 24.0%: −$231
• After-tax cash flow: $2,389/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

+653.6% since first listed

19 events — show timeline

• 2026-05-07 Listed $129,999 BRIGHT MLS
• 2026-05-03 Listing Removed — BRIGHT MLS
• 2026-03-08 Price Changed $129,999 BRIGHT MLS
• 2026-01-15 Listed $144,999 BRIGHT MLS
• 2026-01-14 Listing Removed — BRIGHT MLS
• 2025-12-14 Listed $144,999 BRIGHT MLS
• 2025-11-28 Listing Removed — BRIGHT MLS
• 2025-10-03 Price Changed $144,999 BRIGHT MLS
• 2025-07-18 Listed $169,999 BRIGHT MLS
• 2014-07-09 Sold (Public Records) $75,000 Public Records
• 2014-07-02 Delisted — MRIS
• 2014-06-25 Sold (MLS) $75,000 BRIGHT MLS
• 2014-06-25 Sold (MLS) $75,000 MRIS
• 2014-05-25 Pending — MRIS
• 2014-05-25 Listing Removed — BRIGHT MLS
• 2014-05-21 Listed $65,000 MRIS
• 2014-05-20 Listed $65,000 BRIGHT MLS
• 2014-03-25 Sold (Public Records) $26,000 Public Records
• 1975-08-13 Sold (Public Records) $17,250 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,161 · +1.3% YoY. Source: county tax records.