3923 Pennsylvania Ave SE #201 · Washington, DC 20020

$160,000

2 bd · 1.0 ba · 636 sqft · Condo public records · 136 Days on market

Built 1940 $417/mo HOA · 23% 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 +10.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BACK ACTIVE - BUYER GOT COLD FEET! Beautiful Fully Renovated 2 bedroom Condo in Fairfax Village, Washington, DC Welcome to this charming 2 bedroom, 1 bath condo located in the highly sought-after Fairfax Village community in Hillcrest area of Washington, DC This quiet and well maintained neighborhood features tree-lined streets, green spaces, and parking, making it a peaceful retreat within the city. This particular unit has windows on 3 sides which allows ample natural light to flow through the unit and wonderful views of the neighborhood. Elegantly renovated: Stunning luxury vinyl flooring throughout (2024), fresh painting (2024), new furnace (2025), new compressor (2025), new kitc

Key facts

• Fully renovated
• Windows on 3 sides
• Natural light

Tags

• FULLY RENOVATED
• TREE LINED STREETS
• GREEN SPACES
• WINDOWS ON 3 SIDES
• NATURAL LIGHT
• LUXURY VINYL FLOORING

Property features AI

Finance

• Other: Condominium ownership; Pets allowed on a case-by-case basis
• HOA & community: Monthly condo fee of $417; HOA covers common area maintenance, exterior building maintenance, lawn care, management, snow removal, trash, and water

Exterior

• Parking: Paved off-street parking lot; Private parking available; Unassigned spaces; Parking fee; some spaces rented or require a permit
• Utilities: Public water; Public sewer
• Home design: Condominium unit/flat; Garden-style building (1–4 floors); Entry on level 2
• Construction: Brick-front construction; Building name: HILLCREST; Above grade and below grade structures present; Estimated year built
• Exterior features: No tidal water

Interior

• Kitchen: Built-in microwave; Microwave; Oven/Range - Electric; Dishwasher; Garbage disposal; Refrigerator; Stainless steel appliances
• Bedrooms: Two bedrooms on the main level (Master Bedroom and Bedroom 2)
• Flooring: Wood floors
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating (forced air); Electric heat; Central air conditioning (electric)
• Interior features: Open floor plan with combination dining/living area; Galley kitchen; Upgraded countertops; Ceiling fan(s); Tub/shower; Wood floors
• Laundry & utility: Washer in unit (front loading); Dryer in unit (front loading); Washer/Dryer hookups in unit; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-75 ($-902/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (6.8% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.7% 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 41% 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 $1k of loan paydown is wiped out by about $5k 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 136 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 2y 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.
• Current owner paid $44k; list at $160k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,800 (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 136 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 1940 — 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: 1.15% ✓
• Cap rate: 5.73%
• Cash-on-cash: -2.01%
• DSCR: 0.91
• GRM: 7.3

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: -18.1%
• Equity multiple: 0.36×
• Total profit: $-28,831
• Equity at exit: $23,857

10-year hold

• IRR: -7.8%
• Equity multiple: 0.48×
• Total profit: $-23,438
• Equity at exit: $13,834

Cash invested: $44,800 (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.

Methodology + full state rankings →

ZIP-level market 20020

• Rents YoY: 3.9%
• Active inventory: 296
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,832 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$417
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $-75

Break-even live

Break-even rent $1,927

Max offer price $149,124

Occupancy floor 99%

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: $40,000
• Closing costs: $4,800
• 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	0.00mi
2115 Suitland Ter SE Washington, DC	2.0	1.0	637	$1,695	$2.66	24d	1	0.05mi
3956 Pennsylvania Ave SE #203 Washington, DC	2.0	1.0	636	$1,600	$2.52	7d	1	0.07mi
2103 Suitland Ter SE Washington, DC	3.0	1.0	652	$2,100	$3.22	24d	1	0.07mi
2001 Fort Davis St SE #202 Washington, DC	2.0	1.0	614	$1,650	$2.69	24d	1	0.09mi
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	0.09mi
2107 Fort Davis St SE #301 Washington, DC	2.0	1.0	620	$1,700	$2.74	18d	1	0.10mi
3812 W St SE #101 Washington, DC	2.0	1.0	629	$1,800	$2.86	24d	1	0.12mi
3811 V St SE Washington, DC	2.0	1.0	629	$1,595	$2.54	2d	1	0.13mi
3808 W St SE #101 Washington, DC	2.0	1.0	623	$2,200	$3.53	24d	1	0.14mi
3930 Suitland Rd Suitland, MD	1.0–2.0	1.0	772	$1,650	$2.14	2d	29	0.20mi
2057 38th St SE #301 Washington, DC	2.0	1.0	625	$1,700	$2.72	18d	1	0.21mi
3901 Suitland Rd Suitland, MD	1.0–2.0	1.0	816	$1,555	$1.90	3d	10	0.25mi
2017 37th St SE #301 Washington, DC	2.0	1.0	644	$1,895	$2.94	24d	1	0.26mi
4113 Southern Ave SE Capitol Heights, MD	3.0	1.0–1.5	816	$1,754	$2.15	1d	45	0.29mi
4110 Suitland Rd Suitland, MD	1.0–3.0	1.0–2.0	955	$1,812	$1.90	2d	15	0.66mi
4348 Southern Ave SE Washington, DC	2.0	1.0	650	$2,300	$3.54	24d	1	0.84mi
4348 Southern Ave SE Unit Radiance Washington, DC	2.0	1.0	550	$2,200	$4.00	18d	1	0.84mi
3101 Pennsylvania Ave SE Washington, DC	1.0	1.0	665	$1,195	$1.80	3d	1	0.85mi
3001 Branch Ave Temple Hills, MD	2.0	1.0	769	$2,043	$2.66	1d	43	0.94mi
1721 29th St SE Unit 1 Washington, DC	1.0	1.0	725	$1,395	$1.92	20d	1	0.98mi
2219 Town Center Dr SE Washington, DC	1.0	1.0	668	$2,045	$3.06	5d	5	1.04mi
2801 R St SE Unit 2 Washington, DC	2.0	1.0	700	$1,569	$2.24	24d	1	1.07mi
2562 Naylor Rd SE Washington, DC	1.0–2.0	1.0	790	$2,075	$2.63	3d	21	1.10mi
3105 Naylor Rd SE Washington, DC	1.0	1.0	750	$1,350	$1.80	12d	1	1.12mi
3101 Naylor Rd SE Washington, DC	1.0	1.0	764	$1,325	$1.73	24d	2	1.12mi
3109 Naylor Rd SE Washington, DC	2.0	1.0	655	$1,904	$2.91	7d	1	1.12mi
3105 Naylor Rd SE #104 Washington, DC	1.0	1.0	715	$1,350	$1.89	24d	1	1.12mi
3107 Naylor Rd SE #301 Washington, DC	1.0	1.0	700	$1,250	$1.79	24d	1	1.12mi
3416 Curtis Dr Suitland, MD	1.0–3.0	1.0–1.5	779	$1,628	$2.09	2d	25	1.14mi
1527 28th St SE Washington, DC	1.0	1.0	700	$1,150	$1.64	24d	1	1.14mi
2847 Gainesville St SE Unit B2 Washington, DC	2.0	1.0	710	$1,700	$2.39	24d	1	1.15mi
1560 27th St SE Washington, DC	1.0	1.0	660	$1,100	$1.67	24d	1	1.17mi
1550 27th St SE Washington, DC	2.0	1.0	660	$1,250	$1.89	4d	1	1.17mi
1550 27th St SE Washington, DC	1.0	1.0	550	$1,100	$2.00	24d	1	1.17mi
3103 Good Hope Ave Hillcrest Heights, MD	3.0	1.0–2.0	851	$2,303	$2.71	2d	12	1.18mi
2515 R St SE Washington, DC	1.0–2.0	1.0	812	$1,755	$2.16	5d	2	1.18mi
2607 Naylor Rd SE Washington, DC	1.0	1.0	665	$1,275	$1.92	7d	4	1.19mi
2439 25th St SE Washington, DC	1.0	1.0	679	$1,293	$1.90	16d	1	1.21mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   days on market $160,000 Active 136 DOM
2. 2026-06-17
   days on market $160,000 Active 135 DOM
3. 2026-06-16
   days on market $160,000 Active 134 DOM
4. 2026-06-15
   days on market $160,000 Active 133 DOM
5. 2026-06-13
   days on market $160,000 Active 131 DOM
6. 2026-06-09
   days on market $160,000 Active 127 DOM
7. 2026-06-08
   days on market $160,000 Active 126 DOM
8. 2026-06-07
   days on market $160,000 Active 125 DOM
9. 2026-06-04
   days on market $160,000 Active 122 DOM
10. 2026-06-03
    days on market $160,000 Active 121 DOM
11. 2026-06-02
    days on market $160,000 Active 120 DOM
12. 2026-06-01
    days on market $160,000 Active 119 DOM
13. 2026-05-31
    days on market $160,000 Active 118 DOM
14. 2026-04-28
    status Active
15. 2026-04-13
    historical Active Under Contract
16. 2026-03-04
    status Active
17. 2026-02-27
    historical Active Under Contract
18. 2026-02-12
    status Active
19. 2026-02-01
    historical Active Under Contract
20. 2026-01-02
    listed $160,000 Active
21. 2025-12-31
    historical
22. 2025-10-06
    price $160,000
23. 2025-10-06
    status Active
24. 2025-09-22
    historical
25. 2025-07-17
    price $168,500
26. 2025-06-01
    listed $177,500 Active
27. 2025-05-31
    historical
28. 2025-05-20
    listed $177,500 Active
29. 2025-05-19
    historical
30. 2025-03-07
    status Active
31. 2025-02-09
    historical Active Under Contract
32. 2025-01-30
    price $177,500
33. 2025-01-17
    price $184,000
34. 2025-01-17
    status Active
35. 2024-12-26
    historical Active Under Contract
36. 2024-12-05
    price $179,500
37. 2024-10-03
    listed $185,000 Active
38. 2024-09-25
    historical
39. 1985-10-11
    soldstatus $43,500

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

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 4/10 Moderate 21% 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: $21,988
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − HOA: −$5,004
• − Depreciation: −$4,655
• Taxable loss: −$3,351
• Est. tax savings @ 24.0%: +$804
• After-tax cash flow: $-98/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

+267.8% since first listed

26 events — show timeline

• 2026-04-28 Relisted — BRIGHT MLS
• 2026-04-13 Contingent — BRIGHT MLS
• 2026-03-04 Relisted — BRIGHT MLS
• 2026-02-27 Contingent — BRIGHT MLS
• 2026-02-12 Relisted — BRIGHT MLS
• 2026-02-01 Contingent — BRIGHT MLS
• 2026-01-02 Listed $160,000 BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-10-06 Price Changed $160,000 BRIGHT MLS
• 2025-10-06 Relisted — BRIGHT MLS
• 2025-09-22 Listing Removed — BRIGHT MLS
• 2025-07-17 Price Changed $168,500 BRIGHT MLS
• 2025-06-01 Listed $177,500 BRIGHT MLS
• 2025-05-31 Listing Removed — BRIGHT MLS
• 2025-05-20 Listed $177,500 BRIGHT MLS
• 2025-05-19 Listing Removed — BRIGHT MLS
• 2025-03-07 Relisted — BRIGHT MLS
• 2025-02-09 Contingent — BRIGHT MLS
• 2025-01-30 Price Changed $177,500 BRIGHT MLS
• 2025-01-17 Price Changed $184,000 BRIGHT MLS
• 2025-01-17 Relisted — BRIGHT MLS
• 2024-12-26 Contingent — BRIGHT MLS
• 2024-12-05 Price Changed $179,500 BRIGHT MLS
• 2024-10-03 Listed $185,000 BRIGHT MLS
• 2024-09-25 Coming Soon — BRIGHT MLS
• 1985-10-11 Sold (Public Records) $43,500 Public Records

Property tax history

-7.8%/yr

Latest (2025): $140 · -65.8% YoY. Source: county tax records.