1421 Spring Rd NW #IZ-101, Washington, DC, 20010 | $286/mo Cash Flow

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1421 Spring Rd NW #IZ-101, Washington, DC, 20010 | $286/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Washington at 1421 Spring Rd NW #IZ-101, Washington, DC, 20010 offers a 8.4% rental yield on a $250,000 purchase with $1,750/mo rent. Total monthly income registers $1,750/mo, and a $1,224/mo payment leaves $286/mo available for distribution. Annual cash flow reaches $3,437/yr on $82,875 to close, and return on cash invested stands at 24.06% in year one. Equity gained on principal adds $1,613/yr while 5% annual appreciation supports $69,070 over five years. Portfolio math shows five-year ROI at 124.67% and total cumulative return in cash at $103,318. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,750/mo property income against a $1,224/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 2023

N/A lot

$N/A/sqft

No HOA

More details about the property

THIS IS AN IZ UNIT FOR SALE - You must have your DHCD Certificate. 1421 Spring is a brand new condo building on a treelined street above Columbia Heights. Unit 101 is a 2 Bed/ 1 Bath modern and beautiful condo home and presents designer finishes, a thoughtful open floor plan, a gorgeous contemporary kitchen, and chic bath. Copious amounts of natural light stream in through LOTS of windows throughout the unit. Boasting low condo fees and a Walk Score of 96, the centrally located building is just minutes away from numerous neighborhood favorites. Don't miss your chance to be a homeowner in DC, enjoying the comforts of modern city living. Previously priced at $297,700... Pursuant to the District of Columbia Inclusionary Zoning program, income restricted units are available at this development. Please contact the Department of Housing and Community Development regarding the availability of such units and requirements for registration in the Inclusionary Zoning program. This unit is available via the IZ lottery process only. To become eligible for the next IZ purchase lotteries, complete steps 1, 2 and 3 via the DHCD Inclusionary Zoning Website. The minimum occupancy requirement of 2 or more persons for this 2 bedroom unit. The income limits: $97,350 (2 people); $109,500 (3 people); $121,700 (4 people); $133,850 (5 people). The unit must remain the owners continued primary residence throughout their ownership. The household must divest of any other housing ownership before closing on the IZ unit. The unit may not be rented out, in part or in full, for any length of time and via any method without prior written consent from DHCD. Temporary rentals including AirBnb or similar style rentals are never permitted. There are perpetual resale price and term restrictions on the unit. The owner must contact DHCD to obtain a maximum resale price and receive further instructions prior to listing the unit for sale or refinancing the mortgage.

Neighborhood Data

Neighborhood data shown for ZIP Code: 20010, Washington, DC area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	14,885 (100%)
Owner Occupied HU	4,717 (31.7%)
Renter Occupied HU	9,131 (61.3%)
Vacant Housing Units	1,037 ( 7.0%)
Median Home Value	$876,050
Average Home Value	$937,564