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650 Wharf St SW
B- Composite 66.58
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 +26.1/30.0
  • DSCR +8.8/10.0
  • ARV discount +7.5/15.0
  • 1% rule +6.9/10.0
  • Condition / age +4.8/5.0
  • Livability +3.7/5.0
  • Schools +3.6/10.0
  • Appreciation +3.3/10.0
  • Rent growth +2.0/5.0

$260,000

650 Wharf St SW · Washington, DC 20024
2 bd · 2.0 ba · 800 sqft · Townhouse · 113 Days on market
Built 1989 Excellent condition Garage $325/sqft · 61% below area

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Welcome aboard — your next adventure begins here. This beautifully maintained 1989 Hyatt 50’ Motor Yacht, offers a rare opportunity to live directly on the water at Wharf Marina in the heart of Washington DC's vibrant Wharf district. Below deck, two generous private staterooms provide ideal accommodations for everyday living or hosting guests. The full-beam aft master suite is bright and airy, featuring a queen-sized walk-around bed, abundant storage, and a private head with separate shower stall. A forward V-berth stateroom offers equally comfortable quarters with its own full head.

Key facts

  • Wet bar
  • Expansive sundeck
  • Full u-shaped galley

Tags

FULL-BEAM AFT MASTER SUITEQUEEN-SIZED WALK-AROUND BEDFULL U-SHAPED GALLEYEXPANSIVE SUNDECKWET BAREISENGLASS BRIDGE ENCLOSURE

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath townhouse listed at $260k. Condition is rated excellent.

Deal economics

  • At list price, monthly cash flow is $654 ($8k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($3k rent vs $260k).
  • Recommended offer: $237k (9.0% below list) — sets the bar for market timing.
  • Cap rate 9.3% 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.
  • Zoned schools: Amidon-Bowen Es (336 students, 0% FRL); Jefferson Ms Academy (386 students, 0% FRL); Eastern Hs (865 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 (-1.9%/yr); 218 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 ($107k/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 $2k of loan paydown is wiped out by about $8k 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 113 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
Recommended offer $236,600 (9.0% below list)

Questions for the listing agent

  1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
  2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  4. 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?
  5. 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.
  6. 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.
  7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

1% rule
1.19%
Cap rate
9.31%
Cash-on-cash
10.78%
DSCR
1.48
GRM
7.0

CMA / ARV

ARV (median comp)
$670,987
List price
$260,000
Delta
-61.25%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
700 7th St SW #432 0.25mi 2/1.0 847 (+6%) 0mo $225,000 $266 74
1245 4th St SW Unit E301 0.25mi 1/1.0 (-1) 836 (+4%) 0mo $285,000 $341 71
560 N St SW Unit 708N 0.25mi 1/1.0 (-1) 843 (+5%) 1mo $375,000 $445 70
1435 4th St SW Unit B815 0.38mi 1/1.0 (-1) 778 (-3%) 2mo $285,000 $366 67
560 N St SW Unit N503 0.25mi 1/1.0 (-1) 735 (-8%) 1mo $355,000 $483 65
700 7th St SW #430 0.25mi 1/1.0 (-1) 740 (-8%) 3mo $287,000 $388 65
45 Sutton Sq SW #1110 0.20mi 2/1.0 915 (+14%) 2mo $699,900 $765 61
1301 Delaware Ave SW Unit N606 0.43mi 2/1.0 865 (+8%) 3mo $135,000 $156 60
1435 4th St SW Unit B609 0.38mi 1/1.0 (-1) 742 (-7%) 2mo $199,999 $270 60
1250 4th St SW Unit W113 0.30mi 1/1.5 (-1) 710 (-11%) 2mo $242,000 $341 58
1101 3rd St SW #206 0.36mi 1/1.0 (-1) 874 (+9%) 2mo $355,000 $406 57
1311 Delaware Ave SW Unit S540 0.43mi 1/1.0 (-1) 700 (-12%) 3mo $70,000 $100 48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold
IRR
-3.6%
Equity multiple
0.87×
Total profit
$-9,523
Equity at exit
$38,767
10-year hold
IRR
2.3%
Equity multiple
1.14×
Total profit
$10,397
Equity at exit
$22,480

Cash invested: $72,800 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
102 active · 26 under contract
Months of supply
20.4 mo (5%/mo absorbed)
Median asking
$349,950 ($468/sqft)
Median days on market
78 d
This list price
13% of active listings are priced below it
ARV vs active asking
+79.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 20024

Home prices YoY
-1.0%
Rents YoY
-1.9%
Active inventory
218
Price-to-rent
7.0×

Monthly cashflow live

Estimated rent
$3,102 high interval (Pro) →
Mortgage (P&I)
$1,363
Tax est. 1.5%
$325 /mo · $3,900/yr
Insurance
$108
HOA
$0
Vacancy / Maint / Mgmt
$651
Net cashflow
$654

Break-even live

Break-even rent $2,274
Max offer price $260,000
Occupancy floor 74%

Sensitivity live

Price -10% $834 -5% $744 +0% $654 +5% $564 +10% $474
Rent -10% $409 -5% $531 +0% $654 +5% $777 +10% $899
Rate -1.0pp $785 -0.5pp $720 base $654 +0.5pp $587 +1.0pp $518

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
$65,000
Closing costs
$7,800
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
35 Parker Row SW Washington, DC 2.0 1.0–2.0 857 $6,000 $7.00 0d 9 0.03mi
525 Water St SW #411 Washington, DC 1.0 1.0 580 $2,500 $4.31 120d 1 0.11mi
525 Water St SW #430 Washington, DC 1.0 1.0 540 $2,250 $4.17 103d 1 0.11mi
525 Water St SW #324 Washington, DC 2.0 2.0 915 $3,300 $3.61 11d 1 0.11mi
525 Water St SW #324 Washington, DC 2.0 2.0 915 $3,300 $3.61 5d 1 0.11mi
907 6th St SW Washington, DC 1.0–2.0 1.0–2.0 985 $3,495 $3.55 0d 17 0.12mi
465 M St SW Washington, DC 2.0 1.0–2.0 843 $3,365 $3.99 1d 25 0.14mi
900 7th St SW Washington, DC 2.0 1.0–2.0 772 $6,095 $7.90 11d 14 0.15mi
490 M St SW Washington, DC 1.0 1.0 600 $2,298 $3.83 58d 2 0.17mi
45 Sutton Sq SW Washington, DC 1.0–3.0 1.0–2.5 1068 $7,250 $6.79 41d 1 0.20mi
45 Sutton Sq SW Washington, DC 1.0–3.0 1.0–2.5 1068 $7,250 $6.79 49d 1 0.20mi
429 N St SW Unit S210 Washington, DC 1.0 1.0 560 $2,050 $3.66 85d 1 0.21mi
429 N St SW Washington, DC 1.0 1.0 560 $1,900 $3.39 45d 1 0.21mi
429 N St SW Washington, DC 1.0 1.0 537 $2,350 $4.37 94d 3 0.21mi
1001 4th St SW Washington, DC 1.0–2.0 1.0–2.0 953 $3,636 $3.81 0d 26 0.22mi
700 7th St SW #810 Washington, DC 1.0 1.0 1004 $3,000 $2.99 83d 1 0.23mi
1245 4th St SW Apt E602 Washington, DC 1.0 1.0 959 $2,300 $2.40 45d 1 0.24mi
1245 4th St SW Unit 606 Washington, DC 2.0 1.0 860 $2,200 $2.56 7d 1 0.25mi
700 7th St SW #612 Washington, DC 1.0 1.0 740 $2,650 $3.58 98d 1 0.27mi
1250 4th St SW Unit W413 Washington, DC 1.0 1.5 718 $2,199 $3.06 20d 1 0.29mi
1250 4th St SW Unit W710 Washington, DC 1.0 1.0 539 $2,150 $3.99 94d 1 0.29mi
350 Maple Dr SW Washington, DC 2.0 1.0–2.0 847 $4,927 $5.81 0d 26 0.30mi
950 Maine Ave SW Washington, DC 2.0 1.0–2.0 734 $6,549 $8.92 1d 16 0.30mi
1150 4th St SW Washington, DC 2.0 1.0–2.0 693 $3,740 $5.40 0d 23 0.31mi
300 M St SW Washington, DC 1.0 1.0 674 $1,585 $2.35 49d 1 0.31mi
1250 4th St SW Unit 312 Washington, DC 1.0 1.5 748 $1,995 $2.67 106d 1 0.32mi
349 N St SW #349 Washington, DC 1.0 1.0 580 $2,300 $3.97 3d 1 0.32mi
1101 3rd St SW Washington, DC 1.0 1.0 497 $2,200 $4.42 120d 2 0.33mi
1101 3rd St SW Washington, DC 1.0 1.0 544 $2,300 $4.23 11d 2 0.33mi
1101 3rd St SW Washington, DC 1.0 1.0 541 $2,125 $3.92 2d 2 0.33mi
1101 3rd St SW Washington, DC 1.0 1.0 528 $2,075 $3.93 41d 2 0.33mi
1101 3rd St SW Washington, DC 1.0 1.0 544 $2,175 $4.00 20d 3 0.33mi
1101 3rd St SW Washington, DC 1.0 1.0 701 $2,150 $3.07 67d 2 0.33mi
274 M St SW #274 Washington, DC 1.0 1.0 580 $2,300 $3.97 7d 1 0.33mi
301 M St SW Washington, DC 2.0 1.0–2.0 670 $3,197 $4.77 0d 18 0.34mi
1001 3rd St SW Washington, DC 1.0 1.0 556 $2,399 $4.31 0d 89 0.34mi
1425 4th St SW Washington, DC 1.0 1.0 730 $2,300 $3.15 2d 1 0.34mi
1425 4th St SW Unit A609 Washington, DC 1.0 1.0 735 $2,250 $3.06 86d 1 0.35mi
1425 4th St SW Unit M1 Washington, DC 1.0 1.0 581 $2,400 $4.13 86d 1 0.35mi
1425 4th St SW Unit A609 Washington, DC 1.0 1.0 735 $2,250 $3.06 20d 1 0.35mi

Property features AI

Finance

HOA & community
HOA/Condo fees include other itemsAssociation amenities include other featuresOther fees of $300 monthly

Exterior

Parking
Underground parking garage (1 space)On-street parking available
Utilities
Cable internet availablePhone service availableElectric service available (110 volts)Sewer via holding tankWater available (other source)Hot water electric
Home design
Condominium ownershipEstimated year builtProperty in very good conditionBayfront locationOutside city limits
Construction
Above-grade construction
Exterior features
Navigable water frontage (100 feet)Water viewOn waterfront—canalWater accessWater-orientedOther above-grade structures

Interior

Kitchen
Built-in rangeDishwasherMicrowaveElectric oven/rangeStoveRefrigerator
Bedrooms
2 bedrooms on main level
Flooring
Wood floors
Bathrooms
2 full bathrooms on main level2 full bathrooms total
Heating & cooling
Wall unit heating (electric)Electric cooling (other type)
Interior features
Stall showerWood floorsIntercom
Laundry & utility
Front-loading washerFront-loading dryerElectric water heater

Listing history 50 events

  1. 2026-09-24
    days on market $260,000 Active 113 DOM
  2. 2026-09-23
    days on market $260,000 Active 112 DOM
  3. 2026-09-22
    days on market $260,000 Active 111 DOM
  4. 2026-09-21
    days on market $260,000 Active 110 DOM
  5. 2026-09-20
    days on market $260,000 Active 109 DOM
  6. 2026-09-19
    days on market $260,000 Active 108 DOM
  7. 2026-09-18
    days on market $260,000 Active 107 DOM
  8. 2026-09-17
    days on market $260,000 Active 106 DOM
  9. 2026-09-16
    days on market $260,000 Active 105 DOM
  10. 2026-09-15
    days on market $260,000 Active 104 DOM
  11. 2026-09-14
    days on market $260,000 Active 103 DOM
  12. 2026-09-13
    days on market $260,000 Active 102 DOM
  13. 2026-09-12
    days on market $260,000 Active 101 DOM
  14. 2026-09-11
    days on market $260,000 Active 100 DOM
  15. 2026-09-05
    days on market $260,000 Active 94 DOM
  16. 2026-09-04
    days on market $260,000 Active 93 DOM
  17. 2026-09-03
    days on market $260,000 Active 92 DOM
  18. 2026-08-31
    days on market $260,000 Active 89 DOM
  19. 2026-08-30
    days on market $260,000 Active 88 DOM
  20. 2026-08-29
    days on market $260,000 Active 87 DOM
  21. 2026-08-28
    days on market $260,000 Active 86 DOM
  22. 2026-08-27
    days on market $260,000 Active 85 DOM
  23. 2026-08-25
    days on market $260,000 Active 83 DOM
  24. 2026-08-24
    days on market $260,000 Active 82 DOM
  25. 2026-08-23
    days on market $260,000 Active 81 DOM
  26. 2026-08-22
    days on market $260,000 Active 80 DOM
  27. 2026-08-21
    days on market $260,000 Active 79 DOM
  28. 2026-08-20
    days on market $260,000 Active 78 DOM
  29. 2026-08-19
    days on market $260,000 Active 77 DOM
  30. 2026-08-18
    days on market $260,000 Active 76 DOM
  31. 2026-08-17
    days on market $260,000 Active 75 DOM
  32. 2026-08-16
    days on market $260,000 Active 74 DOM
  33. 2026-08-15
    days on market $260,000 Active 73 DOM
  34. 2026-08-14
    days on market $260,000 Active 72 DOM
  35. 2026-08-13
    days on market $260,000 Active 71 DOM
  36. 2026-08-12
    days on market $260,000 Active 70 DOM
  37. 2026-08-11
    days on market $260,000 Active 69 DOM
  38. 2026-08-10
    days on market $260,000 Active 68 DOM
  39. 2026-08-09
    days on market $260,000 Active 67 DOM
  40. 2026-08-08
    days on market $260,000 Active 66 DOM
  41. 2026-08-06
    days on market $260,000 Active 64 DOM
  42. 2026-08-05
    days on market $260,000 Active 63 DOM
  43. 2026-08-04
    days on market $260,000 Active 62 DOM
  44. 2026-08-03
    days on market $260,000 Active 61 DOM
  45. 2026-07-31
    days on market $260,000 Active 58 DOM
  46. 2026-07-30
    days on market $260,000 Active 56 DOM
  47. 2026-07-28
    days on market $260,000 Active 55 DOM
  48. 2026-07-26
    days on market $260,000 Active 53 DOM
  49. 2026-07-24
    days on market $260,000 Active 51 DOM
  50. 2026-07-23
    days on market $260,000 Active 50 DOM

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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$37,227
− Mortgage interest
−$14,564
− Property taxes
−$3,900
− Insurance
−$1,300
− Repairs & maintenance
−$2,978
− Management
−$2,978
− Depreciation
−$7,564
Taxable income
$3,943
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$946
After-tax cash flow
$6,901/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This beautifully maintained 1989 Hyatt 50' Motor Yacht is in excellent condition and ready for immediate occupancy. It offers two spacious private staterooms, a full-beam aft master suite, and a well-maintained exterior with a view of the marina. The property has a high resale and rental value and can be further enhanced with minor updates.

Value-add opportunities

  • Both Painting the interior walls and updating the flooring — Fresh paint and updated flooring can enhance the overall appearance and appeal of the property.
  • Both Updating the kitchen appliances — Modernizing the kitchen appliances can attract more buyers and renters.
  • Both Upgrading the bathrooms with modern fixtures — Modernizing the bathrooms can improve the overall appeal and functionality of the property.
  • Both Landscaping improvements — Enhancing the landscaping can improve the curb appeal and attract more potential buyers and renters.
  • Both Adding smart home features — Integrating smart home features can make the property more attractive to tech-savvy buyers and renters.
  • Both Upgrading the HVAC system — A modern and efficient HVAC system can improve the comfort and energy efficiency of the property, attracting more buyers and renters.
  • Both Adding a private dock — A private dock can significantly increase the property's value and appeal, especially in a marina setting.

Zoned Schools

Elementary Amidon-Bowen Es Middle Jefferson Ms Academy High Anacostia Hs

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
B Composite livability gradescore 73/100

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 · 821,926 people
City population
671,873
Metro
Washington-Arlington-Alexandria, DC-VA-MD-WV
Population (ZIP)
15,888
Household income
$107,411
Rent vs Own
67.8% rent · 32.2% own
Severe rent burden
6% of renters

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
Black 41% White 41% Hispanic / Latino 9% Two or more races 8% Asian 3%
Hispanic origin (detail)
Mexican 2% Puerto Rican 1%
Common ancestry
Romanian 3% Iranian 2% Slovak 1%
Foreign-born
10% · Canada, South Korea, China
Languages at home
85% English-only · Spanish 7% Other Indo-European 2% German/W. Germanic 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

Price history

1 event — show timeline
  • 2026-06-03 Listed $260,000 BRIGHT MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…