824 18th St NE #002 · Washington, DC 20002

$225,000

1 bd · 1.0 ba · 443 sqft · Condo public records · 82 Days on market

Built 2023 Good condition $171/mo HOA · 9% of rent ↓ 12% since listing

---

Why this score? — see what drove the D 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 +14.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Condition / age +4.2/5.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to EIGHT24, where luxury living is redefined with newly upgraded lobbies and enticing pricing! Situated just minutes from the vibrant H-street Corridor, our exceptional luxury condo building promises an elevated lifestyle experience. Each residence at EIGHT24 is a testament to impeccable style, boasting spacious layouts and luxurious amenities crafted to enhance your day-to-day living. Thoughtfully designed with dedicated areas for work, school, and entertainment, our residences cater to your every need. Step into unit 002 / 2, a sleek and modern 1 bedroom/1 bath layout featuring recessed lighting and quartz countertops. Equipped with high-quality Blomberg and Frigidaire appliances,

Key facts

• Spacious layouts
• Quartz countertops
• Included parking

Tags

• LUXURY CONDO BUILDING
• SPACIOUS LAYOUTS
• LUXURIOUS AMENITIES
• RECESSED LIGHTING
• QUARTZ COUNTERTOPS
• INCLUDED PARKING

Property features AI

Finance

• HOA & community: Condo fee $171 monthly; Pets allowed (cats and dogs OK; case-by-case basis)

Exterior

• Utilities: Public water; Public sewer; Electric service for heating, cooling, and hot water
• Home design: Penthouse unit in a mid-rise building (5 floors total); Entry on level 2; Condominium ownership; Construction not completed (estimated year built)
• Construction: Mixed construction materials with advanced framing and combination elements; Other foundation details; Estimated year built
• Exterior features: No tidal water; Other above-grade structures

Interior

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

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $35 ($424/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (12.6% below list).
• Recommended offer: $197k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Browne Education Campus (438 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 falling (-3.0%/yr); 558 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,737 units permitted in District of Columbia in 2024 (1,506 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 82 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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.

Risks & watch-outs

• 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 $196,724 (12.6% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.87% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 9.5

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: -18.6%
• Equity multiple: 0.37×
• Total profit: $-39,969
• Equity at exit: $33,548

10-year hold

• IRR: -18.3%
• Equity multiple: 0.14×
• Total profit: $-54,159
• Equity at exit: $19,454

Cash invested: $63,000 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,967 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$74 /mo · $890/yr
• Insurance: −$94
• HOA: −$171
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $35

Break-even live

Break-even rent $1,923

Max offer price $225,000

Occupancy floor 93%

Sensitivity live

Price	-10% $163	-5% $99	+0% $35	+5% $-28	+10% $-92
Rent	-10% $-120	-5% $-42	+0% $35	+5% $113	+10% $191
Rate	-1.0pp $149	-0.5pp $93	base $35	+0.5pp $-23	+1.0pp $-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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1434 A St SE Apt B Washington, DC	1.0	1.0	350	$1,790	$5.11	20d	1	0.90mi
1401 New York Ave NE Washington, DC	3.0	1.0–3.0	846	$2,130	$2.52	0d	31	1.07mi
709 Massachusetts Ave NW Unit 1 Washington, DC	—	1.0	275	$1,875	$6.82	26d	1	1.15mi
709 Massachusetts Ave NW Unit 2 Washington, DC	—	1.0	275	$1,975	$7.18	26d	1	1.15mi
436 6th St NE Unit 1 Washington, DC	1.0	1.0	350	$2,950	$8.43	3d	1	1.17mi
314 E Capitol St NE Washington, DC	1.0	1.0	475	$2,095	$4.41	9d	2	1.46mi
216 Maryland Ave NE Washington, DC	—	1.0	350	$1,545	$4.41	26d	1	1.46mi
503 Independence Ave SE Washington, DC	1.0	1.0	409	$5,500	$13.43	26d	6	1.48mi
1311 Pennsylvania Ave SE Unit B Washington, DC	—	1.0	340	$1,700	$5.00	26d	1	1.48mi

HOA detail condo

• Monthly dues: $171 · $2,052/yr
• Likely covers: cable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   days on market $225,000 Active 82 DOM
2. 2026-06-18
   days on market $225,000 Active 79 DOM
3. 2026-06-17
   days on market $225,000 Active 78 DOM
4. 2026-06-16
   days on market $225,000 Active 77 DOM
5. 2026-06-15
   days on market $225,000 Active 76 DOM
6. 2026-06-13
   days on market $225,000 Active 74 DOM
7. 2026-06-09
   days on market $225,000 Active 70 DOM
8. 2026-06-08
   days on market $225,000 Active 69 DOM
9. 2026-06-07
   days on market $225,000 Active 68 DOM
10. 2026-06-04
    days on market $225,000 Active 65 DOM
11. 2026-06-03
    days on market $225,000 Active 64 DOM
12. 2026-06-02
    days on market $225,000 Active 63 DOM
13. 2026-06-01
    days on market $225,000 Active 62 DOM
14. 2026-05-31
    days on market $225,000 Active 61 DOM
15. 2026-03-31
    listed $225,000 Active
16. 2026-03-31
    historical
17. 2026-01-12
    listed $225,000 Active
18. 2024-06-05
    status Pending
19. 2024-06-05
    historical
20. 2024-03-06
    price $225,000
21. 2024-03-04
    listed $230,000 Active
22. 2024-03-04
    historical
23. 2024-01-12
    status Active
24. 2023-12-03
    historical
25. 2023-12-01
    listed $230,000 Active
26. 2023-12-01
    historical
27. 2023-09-11
    price $230,000
28. 2023-09-07
    price $229,410
29. 2023-04-21
    listed $254,900 Active
30. 2023-03-02
    historical
31. 2023-01-26
    listed $254,900 Active

ⓘ 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: $890 · $74/mo
• Projected year-2 tax: $1,131 · $94/mo
• Expected delta: +$241/yr (+$20/mo · 27.1%)

ⓘ 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 16% 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: $23,607
• − Mortgage interest: −$12,603
• − Property taxes: −$890
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − HOA: −$2,052
• − Depreciation: −$6,545
• Taxable loss: −$3,386
• Est. tax savings @ 24.0%: +$813
• After-tax cash flow: $1,236/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

Good 85/100 None rehab

This modern, move-in-ready condo is in excellent condition with a good condition score of 85. It features a well-maintained exterior, a modern kitchen, and a clean interior. The property is located in a desirable area with easy access to amenities and transportation. The value can be further increased with some landscaping and curb appeal improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property.
• Both Painting exterior and interior walls — Fresh paint can improve the curb appeal and interior ambiance.
• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property. ↑
• Both Painting exterior and interior walls — Fresh paint can improve the curb appeal and interior ambiance. ↑
• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-11.7% since first listed

17 events — show timeline

• 2026-03-31 Listing Removed — BRIGHT MLS
• 2026-03-31 Listed $225,000 BRIGHT MLS
• 2026-01-12 Listed $225,000 BRIGHT MLS
• 2024-06-05 Pending — BRIGHT MLS
• 2024-06-05 Listing Removed — BRIGHT MLS
• 2024-03-06 Price Changed $225,000 BRIGHT MLS
• 2024-03-04 Listing Removed — BRIGHT MLS
• 2024-03-04 Listed $230,000 BRIGHT MLS
• 2024-01-12 Relisted — BRIGHT MLS
• 2023-12-03 Listing Removed — BRIGHT MLS
• 2023-12-01 Listing Removed — BRIGHT MLS
• 2023-12-01 Listed $230,000 BRIGHT MLS
• 2023-09-11 Price Changed $230,000 BRIGHT MLS
• 2023-09-07 Price Changed $229,410 BRIGHT MLS
• 2023-04-21 Listed $254,900 BRIGHT MLS
• 2023-03-02 Listing Removed — BRIGHT MLS
• 2023-01-26 Listed $254,900 BRIGHT MLS