Now Back To Our Regularly Scheduled Normal Posts: Good Deal or Not?


Here is a beautiful rowhouse in the vicinity of the Bloomingdale neighborhood. It is located at 2303 First Street, NW. I totally dig the huge windows and third floor balcony. The flier says:

“Majestic 3 story victorian on one of the most coveted blocks in Bloomingdale/Ledroit neighborhood. Every buyers dream fixer-upper. Very livable, loads of original details, beautiful wood floors, pocket doors, wood floors, high ceilings, kitchen w/ granite/maple(apprx 10 yrs)finsihed bsmt w/ beautiful stone wall, great light, fab master suite w/ fplc, huge bath.”

More details at the Red Fin Web site. The price was originally $685,000 but is now on the market for $649,000. So good deal or not?

19 Comment

  • cool rock wall in the basement. layout is wierd on the second floor and the top floor doesnt have a bathroom? so it has its drawbacks. biggest one being location. I personally couldnt bring myself to pay that much for a neighborhood without good ammenities.

  • i sort of agree with anonymous. and, the windows … they don’t open! methinks that’ll be a good deal in about 6 years.

  • Guys, the gays (I am one) have been migrating to this neighborhood for years. It’ll be nice way before “6 years from now”. Just remember what Columbia Heights, U Street, and Petworth were like in 2002… change happens slowly, but before you know it .

  • I think they made some strange decisions with the renovations–if you look at the layout, the middle floor that has the master suite probably originally had 3 bedrooms. But the middle bedroom has been changed into the master bath and walk-in closet, and the den is too small to serve as a BR, but yet there’s another bathroom. Then on the top level you have the 2 small bedrooms and no bathroom. It seems odd to have a four level house with one giant master suite and basically 3 not very usable other rooms. Anyway, you’d have to make major renovations to make this house shine, so the price seems a little high to me.

  • Errr.. I hate the windows. Completely out of place/style. Looks like a six fingered bastard of a modern loft and a Victorian.

  • Um $650K for a self-described “fixer-upper” in that neighborhood? I don’t think so. Even though from the photos it doesn’t look in terrible need of a lot of work… it’s too much.

  • I like the look of the house from the outside. I actually like the look of many o fthe houses on that street.

  • I agree with U Street Girl…labeling this as a fixer upper in the flier is giant red flag. I like the large windows, but for the location and for the warning that this place requires work, it’s priced too high.

  • Y’all keep talking about “that neigborhood” Hey- that’s my neighborhood! And it’s a nice one!
    … ok I’ll settle down now.

  • Er… and I agree it’s overpriced.

  • Hey I’m not putting down your neighborhood, just meant to say that the house is overpriced for it. No disrespect intended 🙂

  • Anonymous 1:31pm,

    2002 was 6 years ago 🙂

    # Anonymous Says:
    August 19th, 2008 at 1:31 pm

    Guys, the gays (I am one) have been migrating to this neighborhood for years. It’ll be nice way before “6 years from now”. Just remember what Columbia Heights, U Street, and Petworth were like in 2002… change happens slowly, but before you know it .

  • you know the saying, first come the gays, then everyone else… there were 2 other gay couples on our street when we moved in last year 🙂

  • heard that. you could make a killing looking for rainbow flags and buying up the cheap realestate near by. they have a 6th gentrification sense

  • or you could turn it into “first come the gays, then come the hipsters, then come the yuppies with the baby carraiges”

  • I thought U Street was pretty nice in 2002. You should have been here in 1991…

    But I agree with most that this house is over priced

  • I live a few blocks South. 650K for a smallish fixer upper on a somewhat smaller lot than average is silly overpriced. You can buy a renovated townhouse for that.

    This hood is getting better (especially in the last 6 months) but it is still sketchy. While the few blocks in this area are very quiet, they are surrounded by bad hoods to the east, west and north. All the trouble makers pass by this area and steal stuff or worse.

  • OK, here’s my opinion. I’m not going to comment on the architecture, as that wasn’t the question. Is it a deal? No. Considering the current real estate market, I think sales prices are much closer to the actual tax assessed value than they usually are. I know that here in Park View/Petworth, when a house sells, its usually withing 10K of the assessment. So, using that logic, 2303 1st St is currently assessed at $490,440, and the city is dropping that assessment to $475,580 in 2009. Does that sound like a house that will get $649,000? You be the judge.

  • I’m going to have to against the grain here and say I don’t think it is a terrible deal, especially if looked as an investment. I almost moved about a block away from this place before deciding on a place in CH. Anyway, it’s not a fixer-upper in the sense where it needs gutted, it just needs someone who knows how to update most of the rooms. I’ll make the assumption that it this place needs another 50K to get it in really nice shape. That is $700K for a 3100 sq. foot house in an “up and coming” neighborhood…once the economy picks back up and with the assumed surge of suburbanites moving into the city due to gas prices and other factors, I think this would a worthwhile purchase. Yeah, I’m making some assumptions, but that is how it goes with the real estate market.

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