Good Deal or Not? Large Corner Home Edition



This home is located at 1601 8th Street, NW:

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The flier says:

“This is an excellent opportunity to buy a huge property on a corner lot in historic Shaw. Property is in solid condition and is a very attractive investment. It had been leased most recently for $3,200 per month (6.5% Cap Rate at asking). Finished basement. Blocks to local restaurants, Logan Circle and downtown.”

More info but sadly no photos can be found here.

It’s obviously a tough call without photos but this does seem like a big house with lots of potential. Does $595,000 sound reasonable?

13 Comment

  • just throwing this out there. when selling a place for over half a mil. take down or replace the CHAIN LINK FENCE. man. you would think that in this market Agents would be stepping up their game…

  • Green is my favorite color, but this is a lot of green (in more ways than one (two ways actually)).

  • You too can be living right across the streets from the projects!

  • I’d have to check out the interior, but even if it’s not a good deal, it’s not *laughably* overpriced, which is better than a lot of listings out there.

  • When will people stop painting house these GOD AWFUL COLORS! The first thing I thought about was Linda Blair’s vomit in the Exorcist!

  • in a better economy, if the floor plan is right that could be a great condo conversion.

  • Oooh, I’ve often walked past that house on the way home from the Giant and wondered what the deal was. It looks so big to have only been renting for $3,200/month, even with only 4 bedrooms.

  • Stop hating the color. With leaves on the trees it’s cheery, and DC-issued garbage cans would blend/accent nicely. Green contractor screen could be installed over the chain link fence.

  • agreed with the first commenter, a nicer fence would sure help the curb appeal of this place, but hopefully whoever buys it invests some money into all the landscaping.

    shame, though, that the new windows they put in don’t fit properly. it always smacks of cheapness when people don’t get properly sized windows. makes me question the rest of the work…

  • What the green paint, astroturf on the stairs, chain link fence, and the railings on the porch that are cheap wood on one side and old pipe on the other are all telling you is: you don’t need to see pictures of the inside, as it’s going to just be more of the same crap you can see on the outside!

    If it really is beautiful on the inside, then all those things tell you is the owner and the agent are really stupid and need to watch more HGTV.

  • That has to be more than just 4BR.

  • Who said–besides the realtor–that this is a big house? It doesn’t look any deeper or wider than the other rowhouses on the block. And if you look at the plot of land that its on (scroll down on redfin and choose an aerial view), its actually not even as big of a lot as the other houses on that street. Apparently there is another house built on the land that would ordinarily be parking (which makes sense for corner units) (and also I love how the redfin description turned out—“Parking included in List Price. Street Parking”). Also, wtf with the 3 doors on the side of the house? I guess that means you could convert it to separate rentals or something, but kind of weird if you’re going to live in the whole thing.

  • I bet the $3200 monthly rental income is from more than one unit

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