2823 4th St NE · Washington, DC 20002

$550,000

8 bd · 4.0 ba · 3,480 sqft · MultiFamily public records · 28 Days on market

Built 1941 4,052 sqft lot

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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
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• 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

OPEN HOUSE MONDAY, JUNE 1, 2026 FROM 11:30 AM - 12:30 PM List price is opening bid. Online Auction Only! Bidding begins Saturday, May 30th, and ends Thursday, June 4, 2026 at 1:00PM. Four-unit multifamily brick-front building located in the desirable Brookland neighborhood of Northeast Washington, DC. The two-level property contains approximately 3,480± square feet of living space, per Washington D. C. tax record. Currently vacant, the property offers a versatile opportunity for either an owner-occupant to reside in one unit while leasing the remaining units for supplemental income, or for an investor seeking a strong rental income opportunity. Location: Brookland is a historic neigh

Key facts

• 4,052 sq ft lot
• Built 1941
• Listed 28 days

Tags

• FOUR UNIT MULTIFAMILY BUILDING
• BROOKLAND NEIGHBORHOOD
• HISTORIC NEIGHBORHOOD
• TREE LINED ATMOSPHERE

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Interior townhouse / rowhouse; Fee simple ownership
• Construction: Brick construction
• Exterior features: No tidal water; Other above- and below-grade structures

Interior

• Bedrooms: Four one-bedroom units
• Heating & cooling: Hot water heating; Natural gas heating fuel
• Interior features: Two or more access exits

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $550k).
• Recommended offer: $542k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% 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.
• Zoned schools: Noyes Es (241 students, 0% FRL); Brookland Ms (357 students, 0% FRL); Dunbar Hs (868 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 falling (-3.0%/yr); 558 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).
• At $9,033/mo this rent would consume 90% of the median local household income ($120k/yr) (locally 3854% 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 $4k of loan paydown is wiped out by about $16k 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 + 0.0% rent growth), your $154k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($542k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $550k implies a 1471% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $541,750 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.64% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.02%
• DSCR: 2.16
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.3%
• Equity multiple: 1.63×
• Total profit: $97,242
• Equity at exit: $82,007

10-year hold

• IRR: 22.6%
• Equity multiple: 2.67×
• Total profit: $256,804
• Equity at exit: $47,554

Cash invested: $154,000 (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 20002

• Rents YoY: -3.0%
• Active inventory: 558
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $9,033 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$683 /mo · $8,196/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,897
• Net cashflow: $3,340

Break-even live

Break-even rent $4,806

Max offer price $550,000

Occupancy floor 58%

Sensitivity live

Price	-10% $3,651	-5% $3,495	+0% $3,340	+5% $3,184	+10% $3,028
Rent	-10% $2,626	-5% $2,983	+0% $3,340	+5% $3,696	+10% $4,053
Rate	-1.0pp $3,617	-0.5pp $3,480	base $3,340	+0.5pp $3,197	+1.0pp $3,052

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$9,032
Total (4 units)			$9,033

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
749 Princeton Pl NW Washington, DC	7.0	3.0	2493	$9,500	$3.81	24d	1	1.40mi

Listing history 10 events

1. 2026-06-09
   days on market $550,000 Active 28 DOM
2. 2026-06-08
   days on market $550,000 Active 27 DOM
3. 2026-06-07
   days on market $550,000 Active 26 DOM
4. 2026-06-04
   days on market $550,000 Active 23 DOM
5. 2026-06-03
   days on market $550,000 Active 22 DOM
6. 2026-06-02
   days on market $550,000 Active 21 DOM
7. 2026-06-01
   days on market $550,000 Active 20 DOM
8. 2026-05-31
   days on market $550,000 Active 19 DOM
9. 2026-05-12
   listed $550,000 Active
10. 1976-08-04
    soldstatus $35,019

ⓘ 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: $8,196 · $683/mo
• Projected year-2 tax: $8,196 · $683/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 ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $108,396
• − Mortgage interest: −$30,809
• − Property taxes: −$8,196
• − Insurance: −$2,750
• − Repairs & maintenance: −$8,672
• − Management: −$8,672
• − Depreciation: −$16,000
• Taxable income: $33,298
• Est. tax owed @ 24.0%: −$7,992
• After-tax cash flow: $32,084/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): 72,397
• Household income: $120,337
• Rent vs Own: 61.7% rent · 38.3% own
• Severe rent burden: 3854.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 41% Black 40% Two or more races 9% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 5% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -852.61%
• Current HPI: 396.6033
• Rent YoY: ▼ -3.04%
• 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

+1470.6% since first listed

2 events — show timeline

• 2026-05-12 Listed $550,000 BRIGHT MLS
• 1976-08-04 Sold (Public Records) $35,019 Public Records

Property tax history

+4.7%/yr

Latest (2025): $8,196 · +3.4% YoY. Source: county tax records.