Good Deal or Not? Double Your Pleasure Edition


This home is located at 515 Q Street, NW:

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The flier says:

“THIS IS NOT A SHORT SALE! Sets between million dollar properties. 2,666 Sq Ft. This HM has 2 front drs, 2 kitchens & has been separated into 2 units by the owner. Will make for a great liv in invest. property or revert bk to original flr plan & enjoy lots of liv space by simply removing 1 door way. Also has a a sep. liv. quarter that needs renovation. Bk yd is big enough to add on or 4 pking.”

More info and photos found here.

This is a really interesting home as the title suggests, it is basically one home divided into two. I suppose you could combine it back into one home or rent out half. I guess it makes more sense to rent out half, yeah? What do you think of the home itself? Does $449,900 sound reasonable?

6 Comment

  • I think it’s reasonable. It’s not that different from a row house with a basement apartment.

  • Oh good deal, definitely a good deal!! I commented before that I wanted to buy one of these a few years ago, but they were all priced much more expensively than regular rowhouses, because of the extra rental income.

    These houses are a great deal because your rental is NOT in a basement; instead you have a rental potentially the same size/quality as your own living quarters, so you can cover a lot more of your mortgage with the rent you get. Though I’m not super crazy about the siding and shutters, the house looks nice on the inside and looks like it’s in good condition.

    The ad says there are 5BRs, so I’m assuming a 3BR owner’s unit and a 2BR rental apartment that you could probably rent for $1800/month or more depending on the size. This could cover a significant part of the mortgage. If you rented out both units, I think you could easily get $4K per month or more, so a good investment property.

  • I looked at this house a year ago and was worried about the turnaround. It sold and then was put back on the market pretty quick. I tried to embrace vinyl siding but I just can’t. Too many townhouse flashbacks from the 80’s.

  • that area is pretty sketch imop. about 2 years ago i was seriously considering a place at 3rd and q, but the low-income housing complex (dare i say section 8) across the street coupled with the lack of amenities in the area (i.e., nothing but nasty carry out) made me think twice and so i bought in petworth instead.

    so yeah it’s a good deal, but buyer beware of the area you’re buying into…

  • When will these realtors learn English? It “sets” between million dollar properties? I “set” on my ass?

  • New Hampy … I have been living down the street from here for a little over five years and the “hood” has improved quite a bit. Granted, there are still random acts of crime and violence, but no less or no more than any other developing DC neighborhood.

    We are also within walking distance of Big Bear Cafe, Vegetate, Queen of Sheeba, Old Dominion Brewpub, U street, 9th street, the new safeway, etc. Dave’s takeout is gone … now if only we could get rid of G&S Market … a perfect place for a cafe IMO.

    The house has been on the market several times and there are three newly renovated buildings on this block. It’s only a matter of time before it catches up with it’s western neighbors. The price is pretty decent considering a two bedroom w/o a rental unit just went for $550K on NJ w/i a weeks time.

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