Good Deal or Not?


This house is located at 1453 W Street. The flier says:

“Incredible townhouse in the perfect location. 2 Units: Top unit 3 bedrooms, 1.5 baths, high ceilings, fireplace. Lower unit 1 bedroom, 1 bath perfect for renting and extra income. House overall in decent shape but needs a little TLC. Property sold “As Is”. Investor opportunity or new home buyers with a dream of making a home of their own.”

More details can be found here.

Now I’m a bit confused, this location seems good, and the house looks pretty sweet. So unless this house needs tons of “TLC” I’d say $599,900 is a great deal. What do you think, good deal or not?

13 Comment

  • “As Is” + “Investor Opportunity” = needs serious work. The pictures don’t show the kitchens or bathrooms, not coincidentally.

    That said, for someone who wanted to fix up their own place, this is a great scenario – live in one unit, fix up the 2nd, then either move in there or rent it depending on cash flow. It doesn’t look like it needs gutting, actually looks pretty nice.

  • I vote for unseen damage, not just a neglected kitchen but a kitchen that had a floor-destroying link, but other than that it looks great for the money.

  • That price, that location, and a rental unit??? It’s either the best deal you’ve posted in a while or a money pit waiting to happen.

  • BEWARE: This house is haunted by the ghost of Duke Ellington. Local legend has it that during full moons, Duke and the band get back together and cause quite the noise. It’s not that they’re bad performers, don’t get me wrong. It’s just that their instruments haven’t (as you can imagine) been tuned in quite some time.

    Consider yourself warned!

  • There probably is significant work to be done in un-photographed home areas. But also, 1400 blocks of V, W, and Florida can be a bit sketchy at times (more V than W, but still).

  • You usually don’t sell $600k places as-is. Either this is a short sale and won’t sell for that price, or the place needs a lot of work. I’ve gone to seen places that “need TLC” only to find that the kitchen is completely gone and the rest of the house is in terrible shape.

  • Bad bad deal. It needs a lot of work (and very little of it is “I’ll do it myself” work, unless you happen to be a structural engineer). 599 is a fantasy price for the amount of work that needs to be done. Plus it has no backyard—not even a back door to the sliver of land that may be yours back there. It is painfully obvious that the listing agent knows this as well—when I went, a super junior agent was half-heartedly standing around the front room, and the upstairs rooms still had trash and debris from the previous tenants.

  • They need do need to develop the corner of 14th and W opposite Lowest Price Gas in order to make efforts to remove that sketchy factor.

  • But I love the idea that it could be haunted….just telling those stories to out-of-town guests would rock…that and the “sketchiness” of the area would keep my parents from visiting…where can I sign up?

  • Terrible deal. You’ve got seven photos, four of which show the exact same room and two of which show the (rather faded) exterior. The house was built in 1890 and probably has not had a serious infrastructure upgrade in decades, so you’re probably looking at sheathed aluminum wiring, galvanized steel pipes and an ancient heating system. I wouldn’t be at all surprised if it needs significant structural work or even new windows.

    And not even a single off-street parking space? Pass.

  • But its got a turret. Always wanted one of those…

  • They will probably end up selling the place for $529,000. Whoever buys will put in $150,000 = $679,000. That would be a good asking price for a fab renovated home in that neighborhood. Or they could go condo – 2 units priced at $350/$450,000 would get them a handsome profit.

  • I think it’s a good deal — but not for someone who’s never done a home reno. This would be a good project after you’ve sold your first house, when you’re ready to move on to your second big project. If you like authentic details, there’s no way you’ll find them in the usual cheap renovation jobs — you’re better off doing the whole job yourself

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