Good Deal or Not? Mt. Pleasant Condo Edition


The condo is located at 1651 Lamont Street, NW.

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The flier says:

“PRICE REDUCED $10K! Wonderful 2BR/1BA Condo w/ GAR PKG, ss/granite Kitchen, Huge Mstr BR, true 2nd BR, LR w/ FP, sep DR, W/ D, A/C, Hardwd Flrs, built-ins, Low Condo Fee, pet-friendly & CHARM! First Flr location full story above street level. 4 BLKS to COLUMBIA HTS METRO, Discover why people love living in Mt. Pleasant, DC’s Village in the City!”

More info and photos found here.

I haven’t seen too many 2 bedrooms/1 bathroom so I’m curious to know what you think. Does $429,000 seem like a reasonable price?

17 Comment

  • Seems about right.

  • The built-in bookshelves! A fireplace! I really wish I had money for a new condo just like this. But $430,00 does seem about right for a two-bedroom with all those amenities, though I would hope for more sq footage.

  • You can get an equivalent condo for half that in Upper Petworth.

  • I dont think so. not a horrid deal but nothing to write home about. quick note to dumb ass realtor who took pics of the place at night with all the blinds down? Who does that. does this place get any daylight? Makes the place look windowless.

  • I preffer the Argyle Building not far from there On Mt P Street. I think they have half the units left to be renovated and come on the market. they are cheaper but no parking and not having parking in that hood would blow.

  • A) – readhead, big difference between upper petworth and Mtp (can we say metro access??)

    B) Argyle condos are selling for similar prices, if not for more. Both are nice buildings. And yes, no parking in MtP is bad news if you do have a car.

    C) I think a good solid deal. There aren’t many condos period in mount pleasant, and very very few 2-bedrooms. The rarity alone adds value.

  • Are they going to fix up that building in Mt Pleasant that was gutted by the fire?

  • I know a Lady who bought in the Argyle and she paid a lot less than asking. Also they are smaaaaaall 2 bedrooms. They basically just put a wall down the middle of the living room to make the second bedroom when they flip the old apartments to condos. As for the Building that caught fire I understood that these were already going to be made into lux condos even before the fire hit. which makes the fire a little suspicious in my book. Im guessing they will be rebuilt as condos. And while condos IN mount pleasant proper may be somewhat rare. in the neighboring hoods of Adams morgan and Columbia Heights there are oh say give or take A MILLION condos to choose from.

  • there’s a 2br 1ba condo at 1420 Harvard for $293k and it’s not that far away.

  • The Argyle is currently half yuppie condo owners and half latino apartments yet to be flipped. makes for interesting building demographics and more or less a microcosim for the neighborhood as a whole. they are supposed to get a roof deck too but im just gonna go ahead and guess they wont be completing that until those darn latinos leases run out and all the condos are flipped from 800 sq ft one bedrooms to 800 sq foot 2 bedrooms. wouldnt want yuppies and latinos intermingling on a roofdeck. be interesting to see how MTP evolves though as it has largly been overlooked when it comes to the commercial strip gentrifying.

  • We have metro access. Fort Totten! And we have more space – over 1000 square feet.

    Anyway I don’t understand spending that much for a space that small even if it is in a good location. If you have $400K or more – don’t you want a whole house?

  • Redhead and others who continually say bad deal because you can get a lot more cheaper farther out, let me explain some things. Many people, myself among them, do not have a desire for lots of space. Rather we have a desire for a location close to where we work and spend our free time. I want restaruants, bars, supermarkets and other shops within walking distance. I want to be able to pay no more then 15 dollars for a cab ride home if I have been out drinking.

    I fully understand that you may have different priorities, but saying bad deal because you are comparing the property in question to one further out does not serve much purpose. Find a better deal in the same area, or in a location that has more amenities and then say bad deal.

  • Nathaniel,

    I definitely agree with your thought process, but I think a lot of people (especially the ones who bought in Petworth like myself) do evaluate price with relative difference. To me it didnt make any sense to buy in CH because the prices were so much higher than petworth. I still spend much of my time in CH, and parking is a hastle, but thats a huge savings every month.

    A 2 bed 1 bath in my building just sold for 220K (check PoPs last sales post) and it was pretty comparable to that one (850 Sq feet older kitchen). This means that we are talking about a 5 minute drive for literally half the price. I think your statement holds water if you are talking about PG county, but Petworth and MTP are pretty darn close.

    The real estate market has changed. Buyers can’t afford to pay whatever it takes to be in their desired neighborhood. If you dont look at relative prices, its easy to end up being underwater. Buyers have to ask themself “is the next guy going to pay twice as much to be 5 minutes away???” I think her comparison is a valid one

  • I’d say it’s a fair price. At 928 sq ft, it’s not a tiny 2BR – that’s a decent size. And it’s a great location and looks like it comes with parking.

    And regarding the comments about size vs. neighborhood amenities, it’s listed at the same price my house was in 2005. Sure, I have a nice big yard and can park in front of my house, but I can definitely appreciate the benefits of buying an already renovated though smaller condo…such as the $25K I’ve spent in repairs and renovations (including a new heating system). Plus with that location you can really walk to about everything. I miss not walking everywhere.

    Main drawback for me on this unit would be that it’s on the 1st floor.

  • I saw the unit last month during an open house. I must admit, its a large 928sq feet. They accomplish it by cutting sq footage on the kitchen (sucks for me) and the 2nd bedroom (sucks for visiting parents). Otherwise, its a great space and floor plan.

    Agreed on 1st floor not being so great, but the unit is in the far back corner…no noise to be heard, and the bars on the windows (ick) do provide the needed security. The natural light isnt that bad for a unit with windows facing another complex. Also included in the price is a parking spot in the garage…that alone is worth a few extra $$. Only big negative is being so close to Heller’s Bakery and gaining about 10lbs of pure fat.

    Good deal…but I’m still waiting for it to drop another $25k.

  • I don’t think many condos are a good deal right now. Not that you can time the market, but condos are going to be really iffy for the next several years. Condo financing is tighter than anything else- It’s nearly impossible to get financing on condos these days without 20 down, which many first time buyers don’t have, and that’s a big market for condo buyers.

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