08 Mar 101 things you need to know about Washington D.C. real estate investing
The Washington D.C. multiple listing service, M.R.I.S., covers over 900 zip codes. That’s a lot of ground to cover, but don’t worry, we’re here to help. Here’s everything you need to know for a thousand foot overview of the D.C. metro real estate market.
Top Investment Brokerages
Finding a reliable, experienced, investor-friendly broker to be on your team is crucial to your success as a DC real estate investor. Here are a few of our favorites.
Real estate clubs
Surrounding yourself with those on the same mission as you is one of the best ways to succeed in DC real estate investing. Here’s a few of our favorite DC real estate investment clubs where you can find business partners, mentors, wholesalers and maybe even your next deal.
Another great place to meet other investors to talk about DC real estate investing with is Meetup.Com groups. Here are a few in your area.
Investor-Friendly Title Companies
If you’re doing a lot of deals, you’re going to want to make sure you have an investor friendly title agent on your side. Here are some Washington DC are title companies to start your search with.
Hard money lenders
Need funds to close the next deal? Check out one of these DC area hard money lenders.
A good traditional lender is a necessity for any investor who is putting long term loans on a rental property. Here are a few of our favorite traditional lenders in Washington D.C.
Washington D.C. has plenty of wholesalers for you to choose from. Here are a few to get you started. Just remember to do your own deal analysis before buying from a wholesaler.
Ready to buy construction materials for your next flip? Keep your costs under control with one of the many options for discounted construction material in Washington D.C.
Ready to go to real estate school to get licensed? Here’s some real estate schools in D.C.
Market stats (end of year 2015)
- Inventory levels – 8,644 active listings
- Total transactions – 50,525
- Average DOM – 22 days on market
- Median Sold Price – $410k
2015 Flip stats
- Estimated number of Flips: 2,647
- Average time between acquisition and sale: 297
- Average DOM for a flip: 100
- Average gross profit: $150,859
- Average Gross Profit Percentage: 104%
- Year Washington D.C. was founded – 1791
- Origin of the name – Named after George Washington
- City population — 672,228
- Metro population – 6 million
- Crime rate: 3 out of 100, safer than 3% of the cities in the US. Washington D.C. has a crime rate of 12.44 per 1,000 residents.
Economic stats (BLS.Gov)
- Average weekly wages — $1,248.65
- Unemployment rate — 7.5%
- 12 months change in employment — 2% increase in employment
- Average annual housing expenditure — $28,888
- Mean hourly wage — $31.22
- # Of Zip Codes – Over 900 zip codes on the MRIS multiple listing service
Hottest neighborhoods according to the MRIS
- Takoma Park, Washington D.C.
- Wakefield, Washington D.C.
- Rhode Island Avenue NE, Washington D.C.
- Chevy Chase, Washington D.C.
- Mount Pleasant Washington D.C.
- American University Park, Washington D.C.
- Old City #1 Washington, D.C.
- Brookland, Washington D.C.
- Cleveland Park, Washington DC
- Spring Valley Washington D.C.
Top school districts
- Littleton School District No. 6 In The County Of Arapahoe District
- Arlington county public schools
- Falls Church public schools
- Montgomery County Public schools
- Loudoun County Public Schools
- Fairfax county public schools
- Alexandria City public schools
- Frederick County public schools
- Calvert County Public Schools
- Gettysburg Area school district
- Prince William County Public schools
Top Washington D.C. real estate publications
Historical or famous/notable homes in Washington D.C.
There are 163 houses in the inventory of Historic Sites in Washington D.C. Here are a couple of the most noteable.
- Mary Church Terrell House
326 T Street NW
Writer, educator and D.C. social leader Terrell was instrumental in the Civil Rights movement and in desegregating District restaurants. Her husband, Robert Terrell, was a prominent lawyer and municipal judge. The property is now owned by Howard University.
- Whitehaven (Thomas Main House)
Built c. 1754 or c. 1805
4928 Reservoir Road NW
The Whitehaven name for the area dates to Lord Baltimore’s land grant in 1689. This Colonial Manor house was the residence of horticulturist Thomas Main, who reportedly hosted his buddy, Thomas Jefferson, from time to time. Sources differ on when the house was built.
- Beall-Washington House (Dunbarton)
1647 30th Street/2920 R Street NW
Col. George Corbin Washington, great-nephew of George Washington, lived in this house built by his father-in-law, Thomas Beall.
- The Maples
619 D Street SE
Designed by architect William Lovering for William Mayne Duncanson, the house was a hospital during the War of 1812 and was later bought by Francis Scott Key. The building has been recently renovated and restored as a condo building.
- The White House
Built 1792 – 1800
1600 Pennsylvania Avenue
The White House is the official residence and principal workplace of the President of the United States. The house was designed by Irish-born James Hoban and built between 1792 and 1800 of white-painted Aquia Creek sandstone in the Neoclassical style.
Fun Facts about Washington D.C.
- George Washington died a year before the white house was complete. The first resident was actually John Adams.
- The statue of ANdrew Jackson in Lafayette square is partially made from British cannons that were taken in the War of 1812
- The library of Congress is the largest library in the world with a collection of more than 160,000,000 objects.
- The MLK memorial was made by a Chinese sculptor, in China.
- More wine is consumed in Washington D.C. than any other state in the US
- There is a private subway reserved for staff members in the basement of the Capitol
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DID YOU KNOW?
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