3459 Summit Ct NE #3459 · Washington, DC 20018

$269,900

2 bd · 2.5 ba · 1,678 sqft · Condo public records · 195 Days on market

Built 1978 $533/mo HOA · 19% of rent

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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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Dreams do come true! One-level living at its best! Welcome to 3459 Summit Ct NE—a rarely available, spacious Fort Lincoln condo featuring 2 bedrooms and 2 baths. This property offers location, convenience, and endless potential. Bring your imagination and customize this home to fit your style. Priced to sell and ready for your personal touches. Enjoy walking distance to the Shops at Dakota Crossing, including Costco, Lowe’s, Chick-fil-A, and more. Just minutes from downtown Washington, DC, with easy access to Routes 295 and 50. Urban living with a touch of calm—perfect for those who value comfort and accessibility. Don’t miss this fantastic opportunity—schedule

Key facts

• One level living
• $533 HOA
• Built 1978

Tags

• ONE LEVEL LIVING
• SPACIOUS FORT LINCOLN CONDO

Property features AI

Finance

• Other: Finished above-grade area 1,678 (source: Assessor); Total below-grade area reported as 0; Year built source: Assessor
• Financial info: Ownership: Condominium; Property condition listed as below average
• HOA & community: Condo fee $533 monthly; Condo/Coop amenities: Other; Pets not allowed

Exterior

• Utilities: Public water; Public sewer; Electric for cooling
• Home design: Condominium unit / flat; Building name: FORT LINCOLN; Entry on level 1
• Construction: Brick construction
• Exterior features: Garden-style building (1–4 floors); Other structures above and below grade; Located within city limits

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Electric cooling fuel
• Interior features: No basement; Living area source: Assessor
• Laundry & utility: Washer/dryer hook up in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (5.6% below list).
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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 flat; 114 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 ($91k/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 195 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $90k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $270k implies a 80% gain — meaningful room to come down on a strong offer.

Recommended offer $237,512 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
10. 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.
11. 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.
12. 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: 1.06% ✓
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.06% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.24×
• Total profit: $-57,078
• Equity at exit: $40,243

10-year hold

• IRR: -31.1%
• Equity multiple: -0.15×
• Total profit: $-87,191
• Equity at exit: $23,336

Cash invested: $75,572 (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 20018

• Rents YoY: 0.1%
• Active inventory: 114
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,865 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$288 /mo · $3,455/yr
• Insurance: −$112
• HOA: −$533
• Vacancy / Maint / Mgmt: −$602
• Net cashflow: $-86

Break-even live

Break-even rent $2,973

Max offer price $254,783

Occupancy floor 98%

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3149 Cherry Rd NE Washington, DC	3.0	3.5	1881	$3,795	$2.02	16d	1	0.28mi
3707 37th Pl Unit C Brentwood, MD	1.0	1.0	1300	$750	$0.58	13d	1	0.53mi
3026 Channing St NE Washington, DC	2.0	1.0	1224	$2,399	$1.96	24d	1	0.56mi
3119 S Dakota Ave NE Unit B Washington, DC	2.0	1.0	1676	$1,800	$1.07	24d	1	0.70mi
3119 S Dakota Ave NE Unit A Washington, DC	2.0	1.0	1676	$1,900	$1.13	24d	1	0.70mi
2615 Otis St NE Washington, DC	3.0	2.0	2217	$3,750	$1.69	4d	1	0.74mi
2414 Hamlin Pl NE Washington, DC	3.0	1.5	1500	$2,550	$1.70	19d	1	0.80mi
2705 24th St NE Washington, DC	3.0	2.0	1900	$3,150	$1.66	24d	1	0.81mi
2417 Otis St NE Washington, DC	3.0	2.5	1854	$3,899	$2.10	8d	1	0.82mi
3216 22nd St NE Washington, DC	3.0	2.0	2156	$4,500	$2.09	19d	1	0.90mi
3011 20th St NE Washington, DC	3.0	2.0	1103	$5,600	$5.08	24d	1	0.96mi
4202 30th St Mount Rainier, MD	3.0	1.0	1324	$2,450	$1.85	24d	1	0.97mi
4221 28th St Mount Rainier, MD	3.0	3.0	1800	$3,500	$1.94	19d	1	1.09mi
4519 32nd St Mount Rainier, MD	3.0	2.0	1500	$1,200	$0.80	13d	1	1.26mi
4531 32nd St Mount Rainier, MD	3.0	2.0	1524	$2,500	$1.64	44d	1	1.32mi
2324 15th St NE Washington, DC	3.0	2.5	1398	$3,880	$2.78	24d	1	1.45mi
2206 15th St NE Washington, DC	3.0	2.0	1184	$2,500	$2.11	24d	1	1.47mi
2413 14th St NE Washington, DC	1.0–5.0	1.0–2.0	1121	$1,842	$1.64	3d	46	1.47mi

HOA detail condo

• Monthly dues: $533 · $6,396/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $269,900 Active 195 DOM
2. 2026-06-17
   days on market $269,900 Active 194 DOM
3. 2026-06-16
   days on market $269,900 Active 193 DOM
4. 2026-06-15
   days on market $269,900 Active 192 DOM
5. 2026-06-13
   pricedays on market $269,900 Active 190 DOM
6. 2026-06-09
   days on market $299,900 Active 186 DOM
7. 2026-06-08
   days on market $299,900 Active 185 DOM
8. 2026-06-07
   days on market $299,900 Active 184 DOM
9. 2026-06-04
   days on market $299,900 Active 181 DOM
10. 2026-06-03
    days on market $299,900 Active 180 DOM
11. 2026-06-02
    days on market $299,900 Active 179 DOM
12. 2026-06-01
    days on market $299,900 Active 178 DOM
13. 2026-05-31
    days on market $299,900 Active 177 DOM
14. 2026-05-27
    status Active
15. 2026-04-13
    historical
16. 2026-03-24
    price $299,900
17. 2026-01-16
    price $329,900
18. 2025-12-05
    price $339,900
19. 2025-10-22
    listed $359,900 Active
20. 2005-08-12
    soldstatus $150,000

ⓘ 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: $3,455 · $288/mo
• Projected year-2 tax: $3,455 · $288/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $34,378
• − Mortgage interest: −$15,119
• − Property taxes: −$3,455
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,750
• − Management: −$2,750
• − HOA: −$6,396
• − Depreciation: −$7,852
• Taxable loss: −$5,294
• Est. tax savings @ 24.0%: +$1,270
• After-tax cash flow: $244/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): 19,562
• Household income: $90,639
• Rent vs Own: 47.9% rent · 52.1% own
• Severe rent burden: 919.0

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 (66%)
• Race & ethnicity: Black 66% White 18% Hispanic / Latino 9% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Italian 2% Romanian 1% Serbian 1%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% 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: —

Market trends

• HPI YoY: ▼ -605.95%
• Current HPI: 381.7099
• Rent YoY: ▲ 0.06%
• 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

+99.9% since first listed

7 events — show timeline

• 2026-05-27 Relisted — BRIGHT MLS
• 2026-04-13 Listing Removed — BRIGHT MLS
• 2026-03-24 Price Changed $299,900 BRIGHT MLS
• 2026-01-16 Price Changed $329,900 BRIGHT MLS
• 2025-12-05 Price Changed $339,900 BRIGHT MLS
• 2025-10-22 Listed $359,900 BRIGHT MLS
• 2005-08-12 Sold (Public Records) $150,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $3,455 · -1.0% YoY. Source: county tax records.