Good Deal or Not? FSBO Condo Edition



This condo is located at 1101 Fairmont Street, NW:

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The owner has a Web site that says:

“This condo is in excellent condition. It is perfectly located in Columbia Heights on a pretty, quiet street with plenty of street parking. The building is just steps from the Columbia Heights Metro stop and the new Columbia Heights retail development (Target, Bestbuy, Bed Bath and Beyond, Washington Sports Club, Marshalls, Staples, and More) and plenty of other area nightlife, restaurants, shops. The building is also an easy downhill walk to the U Street Metro and Corridor with plenty of additional shopping and nightlife. Short walk also to Adams Morgan. This condo is right in the center of it all!”

More details and photos can be found here.

It seems the condo has been on the market since at least July 20th (when the Web site was created). It’s a two bedroom two bathroom going for $465,000. What do you think is a realistic price for a ground floor condo at this location?

9 Comment

  • I think 400k would be a realistic price for a condo like this. The website seems like it hasn’t been updated in a long time (says there’s an open house 8/10), so you have to wonder whether the owner is putting much effort into selling it. I’ve heard that FSBO is a tough way to go but I don’t know why.

  • $465k is way out of line for a 2br/2ba with no assigned parking. Also the seller does not disclose the condo fee. Who is going to buy a condo without know what the condo fee is and what it covers?

    Since you can get a 2br/2ba rowhouse with private parking in this area for $400k, I certainly wouldn’t pay more than that for a condo.

  • Overpriced. I personally wouldn’t pay over $350,000 and again, in this area, why not buy a row house for the same price?

  • yeah. the only ammenity is a shared roof deck and grill? no parking no gym and who knows the condo fee. this aint happening

  • I have heard so many horror stories from my friends about their condo purchase that I would have to be hard pressed to buy a condo in DC.

  • @Anon5: Show me a 2br/2ba rowhouse in that area for $400k and I’m buying! It’s a little hard to really say since I didn’t see sq footage on the website but the place looks nice on the inside. Rooms a bit small and ground floor are both minuses. I don’t think the price is way out of line. Probably w/in 10% of market.

  • Its ground level and the bedrooms are really small. You can do a lot better in CH for $465k. There are plenty of rowhouses available in CH at that price but they are probably going to need some work. Still, I dont think its a good deal, not in this market.

  • the “master bedrooms” appear to be about 8 feet by 10 feet. my bed is that big.

    nice little condo, WAY overpriced. good luck getting over $360 in that area for that place.

  • I rent in this building and it is an AMAZING place to live- the street is nice, friendly neighbors, beautiful kitchens, very cool roof deck, etc. etc. That said, I’m glad I’m renting- I don’t know the condo fee, but it covers garbage, cold water, landscaping and cleaning the halls/stairs as far as I know. The price I’m paying for my one bedroom is just right, and it would certainly not come close to 465+.

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