318 Rhode Island Ave NE APT 101, Washington, DC, 20002 | $906/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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318 Rhode Island Ave NE APT 101, Washington, DC, 20002 | $906/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 318 Rhode Island Ave NE APT 101, Washington, DC, 20002 uses $82,842 cash to close to unlock $10,866/yr annual cash flow and $906/mo monthly cash flow. Total monthly income runs $2,368/mo, and a $1,223/mo payment keeps the spread at $906/mo. Purchase price stands at $249,900, and rental yield measures 11.37% with $2,368/mo rent. Return on cash invested shows 33.03% in year one, and 5% annual appreciation builds toward $69,043 over five years. Five-year ROI reaches 172.76% and total cumulative return in cash records $143,114. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,368/mo property income covering a $1,223/mo payment rather than investor’s personal income.

Condo

Built in 1937

N/A lot

$N/A/sqft

No HOA

More details about the property

Welcome home to this airy, sun-filled 1BR/1BA condo offering unbeatable value just under $250,000 in the heart of DCs urban and edgy Edgewood neighborhood. This first-floor unit sits comfortably above ground level and faces south, flooding the open living space in natural light throughout the day. With thoughtful updates, excellent walkability, and proximity to two Metro stations, this is an ideal home for first-time buyers and investors alike. Inside, youll find a bright and spacious layout with refinished hardwood floors, fresh paint, and new (2023) triple-paned Pella windows. The renovated (2018) kitchen features sleek cabinetry, butcher-block counters, an induction stove, stainless steel appliances, and abundant storage, opening seamlessly to the living and dining space for easy entertaining. A modern heat pump (2021) ensures year-round comfort and lower energy costs. The large bedroom offers loads of natural light and warm hardwood floors. An in-unit washer/dryer combo adds convenience and is cleverly hidden behind the chic kitchen cabinetry. Located in a solid brick building with low condo fees ($430/month), extra storage, exercise room and bike storage - this no-frills community keeps ownership affordable while still offering a well-maintained, secure environment. The location is a standout: only 3 blocks to Rhode Island Ave-Brentwood Metro (Red Line), with Brookland-CUA Metro also close by. The Metropolitan Branch Trail is 2 blocks away for biking and commuting, and a Capital Bikeshare station sits directly across the street. Everyday essentials like Giant, CVS, and Home Depot are minutes away. Enjoy neighborhood favorites including Bryant Street Market, Alamo Drafthouse, and more. Whether youre looking for your first home, a low-maintenance pied--terre, or a solid investment property, Unit 101 delivers space, light, convenience, and value in one of DCs most accessible neighborhoods.

Neighborhood Data

Neighborhood data shown for ZIP Code: 20002, Washington, DC area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	45,543 (100%)
Owner Occupied HU	12,288 (27.0%)
Renter Occupied HU	26,295 (57.7%)
Vacant Housing Units	6,960 (15.3%)
Median Home Value	$826,456
Average Home Value	$892,956