6 Galveston St SW #103 · Washington, DC 20032

$85,000

2 bd · 1.0 ba · 678 sqft · Condo public records · 134 Days on market

Built 1949 $677/mo HOA · 44% 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 +14.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Alert! Grab this unit which is already gutted and ready to be completed. Not much is needed to get this to shine for a quick flip. Normally a 2 bedroom unit. Can be made into a large one bedroom or back to a full two bedroom unit. Make offers! Seller wants to sell it asap. Great deal for new or experienced investor.

Key facts

• Easy access to i-295
• Easy access to i-495
• Recently renovated

Tags

• FRIENDSHIP SQUARE CONDOMINIUM
• RECENTLY RENOVATED
• IN-UNIT WASHER AND DRYER
• EASY ACCESS TO I-295
• EASY ACCESS TO I-495
• EASY ACCESS TO ROUTE 210

Property features AI

Finance

• Other: Unit is part of the Congress Heights building; Washer/dryer hookup provided in unit
• HOA & community: Monthly condo fee of $677.60; Condo fee includes common area maintenance, exterior building maintenance, gas, management, sewer, and water; Pets allowed with breed restrictions and number limits

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Hot water: natural gas; Heating fuel: natural gas; Cooling fuel: electric
• Home design: Condominium unit/flat; Garden-style building (1–4 floors); Entry on level 1
• Construction: Brick construction
• Exterior features: No basement; Tidal water: none

Interior

• Kitchen: Dishwasher; Microwave; Gas oven/range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Radiator heating; Wall air-conditioning unit (electric)
• Interior features: Ceiling fan(s); Dining area
• Laundry & utility: Washer and dryer in unit; Washer in unit; Dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $20 ($236/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: Patterson Es (273 students, 0% FRL); Hart Ms (386 students, 0% FRL); Ballou Hs (657 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 rising (+4.0%/yr); 146 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 38% of the median local income ($49k/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 $588 of loan paydown is wiped out by about $3k 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 134 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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 $50k; list at $85k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 44% of rent; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.81% ✓
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.96% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.55×
• Total profit: $-10,619
• Equity at exit: $12,674

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $273
• Equity at exit: $7,349

Cash invested: $23,800 (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 20032

• Home prices YoY: -15.6%
• Rents YoY: 4.0%
• Active inventory: 146
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,541 high
• Mortgage (P&I): −$446
• Tax from tax record: −$40 /mo · $476/yr
• Insurance: −$35
• HOA: −$677
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $20

Break-even live

Break-even rent $1,516

Max offer price $85,000

Occupancy floor 94%

Sensitivity live

Price	-10% $68	-5% $44	+0% $20	+5% $-4	+10% $-28
Rent	-10% $-102	-5% $-41	+0% $20	+5% $81	+10% $141
Rate	-1.0pp $62	-0.5pp $41	base $20	+0.5pp $-2	+1.0pp $-25

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Galveston St SW #303 Washington, DC	2.0	1.0	708	$1,700	$2.40	25d	1	0.02mi
4721 1st St SW #203 Washington, DC	2.0	1.0	741	$1,600	$2.16	25d	1	0.07mi
4725 1st St SW #102 Washington, DC	2.0	1.0	580	$1,850	$3.19	25d	1	0.08mi
4729 1st St SW #202 Washington, DC	2.0	1.0	589	$1,650	$2.80	25d	1	0.11mi
57 Galveston St SW Washington, DC	1.0–2.0	1.0	650	$1,299	$2.00	5d	5	0.14mi
19 Galveston Pl SW #202 Washington, DC	1.0	1.0	700	$1,400	$2.00	25d	1	0.14mi
118 Galveston St SW Washington, DC	1.0–3.0	1.0–2.0	951	$1,690	$1.78	0d	11	0.16mi
2 Elmira St SE Washington, DC	1.0	1.0	710	$1,342	$1.89	25d	1	0.18mi
61 Forrester St SW Unit 104 Washington, DC	2.0	1.0	639	$1,700	$2.66	25d	1	0.19mi
4632 Livingston Rd SE Washington, DC	1.0–2.0	1.0	755	$1,329	$1.76	0d	9	0.25mi
4660 Martin Luther King Jr Ave SW Washington, DC	1.0–2.0	1.0–2.0	827	$1,699	$2.05	4d	11	0.25mi
141 Galveston Pl SW Washington, DC	1.0	1.0	650	$1,100	$1.69	25d	1	0.31mi
4641 6th St SE Washington, DC	1.0	1.0	650	$1,275	$1.96	25d	1	0.34mi
21 Chesapeake St SE Washington, DC	2.0	1.0	670	$1,250	$1.87	21d	1	0.35mi
205 Elmira St SW Washington, DC	1.0–2.0	1.0	705	$1,350	$1.91	25d	5	0.42mi
4001 S Capitol St SW Washington, DC	3.0	1.0–2.0	782	$1,975	$2.52	15d	1	0.51mi
310 Atlantic St SE Washington, DC	1.0–2.0	1.0	754	$1,875	$2.49	5d	2	0.56mi
3865 Halley Ter SE Washington, DC	1.0	1.0	650	$1,210	$1.86	25d	1	0.62mi
701 Brandywine St SE #201 Washington, DC	2.0	1.0	706	$1,400	$1.98	19d	1	0.67mi
705 Brandywine St SE #303 Washington, DC	2.0	1.0	655	$1,550	$2.37	5d	1	0.68mi
713 Brandywine St SE Washington, DC	2.0	1.0	707	$1,650	$2.33	25d	1	0.70mi
730 Brandywine St SE #104 Washington, DC	2.0	1.0	683	$1,350	$1.98	25d	1	0.74mi
820 Southern Ave SE Washington, DC	2.0–3.0	1.0–1.5	840	$1,450	$1.73	0d	64	0.74mi
811 Barnaby St SE Washington, DC	1.0	1.0	650	$1,275	$1.96	25d	1	0.74mi
811 Barnaby St SE Apt 101 Washington, DC	2.0	1.0	750	$1,449	$1.93	25d	1	0.74mi
742 Brandywine St SE Washington, DC	1.0	1.0	599	$1,095	$1.83	5d	1	0.77mi
808 Chesapeake St SE Washington, DC	2.0	1.0	700	$1,700	$2.43	25d	1	0.77mi
207 Mississippi Ave SE Washington, DC	1.0–2.0	1.0–1.5	656	$1,559	$2.38	25d	10	0.79mi
1002 Kennebec St Oxon Hill, MD	1.0–2.0	1.0–1.5	871	$1,921	$2.20	2d	12	0.84mi
3730 Martin Luther King Jr Ave SE Washington, DC	2.0	1.0	650	$1,295	$1.99	0d	1	0.86mi
852 Barnaby St SE Washington, DC	2.0–3.0	1.0–1.5	761	$1,400	$1.84	16d	10	0.98mi
3868 9th St SE Washington, DC	2.0	1.0	740	$1,450	$1.96	25d	1	1.02mi
1311 Southview Dr Oxon Hill, MD	2.0	1.0	628	$1,754	$2.79	0d	54	1.07mi
3429 5th St SE #42 Washington, DC	1.0	1.0	702	$1,395	$1.99	15d	1	1.10mi
3320 6th St SE Washington, DC	2.0	1.0	690	$1,398	$2.03	4d	25	1.21mi
327 Parkland Pl SE Washington, DC	1.0	1.0	650	$1,199	$1.84	25d	1	1.44mi
3320 11th Pl SE Washington, DC	1.0	1.0	750	$1,198	$1.60	25d	1	1.47mi

HOA detail condo

• Monthly dues: $677 · $8,124/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-21
   days on market $85,000 Active 134 DOM
2. 2026-06-18
   days on market $85,000 Active 131 DOM
3. 2026-06-17
   days on market $85,000 Active 130 DOM
4. 2026-06-16
   days on market $85,000 Active 129 DOM
5. 2026-06-15
   days on market $85,000 Active 128 DOM
6. 2026-06-13
   days on market $85,000 Active 126 DOM
7. 2026-06-09
   days on market $85,000 Active 122 DOM
8. 2026-06-08
   days on market $85,000 Active 121 DOM
9. 2026-06-07
   days on market $85,000 Active 120 DOM
10. 2026-06-04
    days on market $85,000 Active 117 DOM
11. 2026-06-03
    days on market $85,000 Active 116 DOM
12. 2026-06-02
    days on market $85,000 Active 115 DOM
13. 2026-06-01
    days on market $85,000 Active 114 DOM
14. 2026-05-31
    days on market $85,000 Active 113 DOM
15. 2026-03-18
    historical $1,600
16. 2026-02-07
    listed $85,000 Active
17. 2026-01-07
    listed $1,600
18. 2025-12-03
    historical
19. 2025-10-28
    price $100,000
20. 2025-10-09
    listed $125,000 Active
21. 2023-08-23
    soldstatus $50,000 Closed 333-char remark

    Show marketing remark (333 chars)

    Investor Alert! Grab this unit which is already gutted and ready to be completed. Not much is needed to get this to shine for a quick flip. Normally a 2 bedroom unit. Can be made into a large one bedroom or back to a full two bedroom unit. Make offers! Seller wants to sell it asap. Great deal for new or experienced investor.

22. 2023-08-18
    soldstatus $50,000
23. 2023-07-13
    status Pending 333-char remark

    Show marketing remark (333 chars)

    Investor Alert! Grab this unit which is already gutted and ready to be completed. Not much is needed to get this to shine for a quick flip. Normally a 2 bedroom unit. Can be made into a large one bedroom or back to a full two bedroom unit. Make offers! Seller wants to sell it asap. Great deal for new or experienced investor.

24. 2023-07-10
    price $55,000 333-char remark

    Show marketing remark (333 chars)

    Investor Alert! Grab this unit which is already gutted and ready to be completed. Not much is needed to get this to shine for a quick flip. Normally a 2 bedroom unit. Can be made into a large one bedroom or back to a full two bedroom unit. Make offers! Seller wants to sell it asap. Great deal for new or experienced investor.

25. 2023-07-07
    listed $60,000 Active 333-char remark

    Show marketing remark (333 chars)

    Investor Alert! Grab this unit which is already gutted and ready to be completed. Not much is needed to get this to shine for a quick flip. Normally a 2 bedroom unit. Can be made into a large one bedroom or back to a full two bedroom unit. Make offers! Seller wants to sell it asap. Great deal for new or experienced investor.

26. 2021-06-01
    soldstatus $68,900
27. 2021-05-21
    soldstatus $68,900 Closed
28. 2021-03-19
    status Pending
29. 2021-02-24
    price $65,000
30. 2021-02-22
    listed $55,000 Active
31. 2020-12-20
    historical
32. 2020-11-09
    listed $25,000 Active
33. 2019-09-12
    soldstatus $30,000

ⓘ 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: $476 · $40/mo
• Projected year-2 tax: $497 · $41/mo
• Expected delta: +$21/yr (+$2/mo · 4.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,493
• − Mortgage interest: −$4,761
• − Property taxes: −$476
• − Insurance: −$425
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − HOA: −$8,124
• − Depreciation: −$2,473
• Taxable loss: −$724
• Est. tax savings @ 24.0%: +$174
• After-tax cash flow: $410/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): 40,920
• Household income: $49,139
• Rent vs Own: 77.4% rent · 22.6% own
• Severe rent burden: 4530.0

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 (80%)
• Race & ethnicity: Black 80% White 8% Two or more races 7% Hispanic / Latino 5%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -60.34%
• Current HPI: 326.4077
• Rent YoY: ▲ 3.96%
• 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

-94.7% since first listed

19 events — show timeline

• 2026-03-18 Rental Removed $1,600 Avail
• 2026-02-07 Listed $85,000 BRIGHT MLS
• 2026-01-07 Listed for Rent $1,600 Avail
• 2025-12-03 Listing Removed — BRIGHT MLS
• 2025-10-28 Price Changed $100,000 BRIGHT MLS
• 2025-10-09 Listed $125,000 BRIGHT MLS
• 2023-08-23 Sold (MLS) $50,000 BRIGHT MLS
• 2023-08-18 Sold (Public Records) $50,000 Public Records
• 2023-07-13 Pending — BRIGHT MLS
• 2023-07-10 Price Changed $55,000 BRIGHT MLS
• 2023-07-07 Listed $60,000 BRIGHT MLS
• 2021-06-01 Sold (Public Records) $68,900 Public Records
• 2021-05-21 Sold (MLS) $68,900 BRIGHT MLS
• 2021-03-19 Pending — BRIGHT MLS
• 2021-02-24 Price Changed $65,000 BRIGHT MLS
• 2021-02-22 Listed $55,000 BRIGHT MLS
• 2020-12-20 Listing Removed — BRIGHT MLS
• 2020-11-09 Listed $25,000 BRIGHT MLS
• 2019-09-12 Sold (Public Records) $30,000 Public Records

Property tax history

-5.3%/yr

Latest (2025): $476 · -2.1% YoY. Source: county tax records.