Good Deal or Not?


I thought this was an interesting one given some of the prices we’ve seen for rowhomes divided into condos. This is a complete rowhome located at 3707 35 Street, NW in Cleveland Park. The flier says:

“Charming Cleveland Park town home. Living room with fireplace and built-in bookshelves. New oak floors & molding in LR and dining room. Remodeled kitchen w/ Energy Star appliances, Jenn Air gas range & glass door to deck. 3 bedrooms upstairs and new luxury bath with Kohler fixtures. Attached garage and large fenced-in yard. Walk to Metro, restaurants & shops.”

More photos and info can be found here.

The price has dropped from $789,000 to $729,000.

I’m curious to know what you think about this one – good deal or not?

10 Comment

  • If I had the scratch, and was starting out in this city, I’d do it..

  • Oh my god yes. Worse rowhouses than this are selling for more in sketchy neighbhorhoods. Cleveland Park is awesome.

  • without even looking at the pictures. yes its a good deal at that address

  • Yes. I mean, none of the neighbors would talk to me, but it would be worth it to live in leafy utopia.

  • considering the overpriced flips asking an arm and a leg in my “up and coming” neighborhood. I would say hell yes its a good deal. If they are having trouble unloading that house at that price in Cleveland Park then I am starting to get a little worried.

  • that house looks to be walking distance (by my standards) to tenley and cleveland park and van ness metros. as well as the best pizza in the city. 2 Amys. Not to mention in the best school disricts. Whats the catch?

  • It is only 1 bath and last sold in May 2008 for $649 – shoddy remodeling, maybe, that isn’t obvious in photos? And that kitchen is pretty tiny. Plus there’s no central air and the basement is unfinished.

  • It only has one bathroom, and the basement is unfinished so it can’t be rented out — but it still seems like a good deal for the location. Then again, I don’t often bother looking and comparing properties over 500K since I could never afford them anyway.

  • For that price in Cleveland Park I’d finish my own basement.

  • The probable answer to every “Deal or No Deal” post on this blog is “There is no such thing as a good deal.” The market is pretty efficient at finding the “deal” price, so its unlikely many things would be priced under a fair value (though very very likely people are listing for way more than fair value).

    So, with this place, DC tax records say this was last bought on May 9 of THIS YEAR for $650k. Redfin says its been on the market for 88 days. That means, trusting the redfin and DC tax record data (the latter is probably more sketchy), this house was off the market for TWO MONTHS between the last sale and the current. I agree with the commenter above that someone is trying to do a cheap flip here. I say if it was worth $650k FIVE MONTHS ago, its probably worth the same amount today (right? its not like we’ve had any financial crisis that has been compared to the Great Depression in the meantime….oh wait….).

    $79k for a bathroom rebab does not a good deal make.

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