Good Deal or Not? Right by the Giant Condo Edition


This condo is located at 1330 Park Road, NW:

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The flier says:

“City dwellers delight!!! Updated and upgraded terrace level condo in heart of Columbia Heights. Open floor plan. Stainless, granite, custom cabinetry. Hardwood floors throughout. European master bath w/ tumbled marble. Large master walk-in closet. Close to metro and shopping.”

More info and photos found here.

I was really excited about this unit until I realized it was a lower level unit. The renovation itself looks fantastic and it does seem to get natural light so maybe the lower level isn’t a big deal. What do you think of the condo itself? Does $409,000 sound reasonable for this 2 bed/2 bath?

29 Comment

  • Tough call but I would say no, maybe 375k. Yes its close to the metro, shopping, etc but I just couldn’t be a bottom dweller and wouldn’t pay 400k to be one. I would need more light and more outdoor area that and the hubby is 6’3″ and usually the ceilings aren’t very high in the basement. The fire station I believe it 1/2 block away and I would think this street would be alittle noisy.

  • hell no. A friend of mine just closed on a condo in the argyle in MTP for that. All the same finishes 2bed 2 bath. and not in the basement.

  • This is $465/sq.ft., meaning that it’s a marginal deal even for an upper-level unit.

    Also, 2 bd/2ba is a waste of space with only 880 sq.ft.: the living room and bedrooms will be cramped to make room for the extra full bathroom.

    You can only really price this correctly based on the amount of money you can get for it in rent, in part because garden-level condos will be difficult to sell to a potential owner-occupant. Account for taxes, condo fees, and 20% down, could you really get $2300/month in rent for this place? I don’t think so. The price will need to come down.

  • Agree with Anon 1:18. This place around the corner on 13th St sold for $410k and it’s 1400 sq ft. It’s also ground floor but it gets more light because it’s an end unit.

  • i always love that red door next to it…
    and the el salvadorian/mexican restaurant next to that rules too.

  • I vote not a good deal.

    Priced too high, the rooms are small. It gets some daylight but not much–it isn’t a true English basement, which would have larger windows. The second bedroom and bath, which aren’t photographed, I’m assuming have no windows and/or are miniscule.

    It is also right across the street from the entrance to the Giant parking garage, where people honk their horns constantly because of traffic congestion, and near a firehouse.

  • The place on 13th St around the corner makes this place look like a hole! I’d pay $400,000 for that one. This is worth $325,000 and should be a 1 br not a 2 br.

  • Developers who put these places together always try to squeeze and extra bedroom and bathroom so that they can advertise it as a “2bd/2ba” place, when in fact a livable environment would require that the unit be a 1 bd + den/1ba at most. I mean, really, whom do they think they’re fooling?

  • How did this place sell for $414k in March ’08? Must have had a really honest realtor…

  • If this is the same place that I looked at almost 3 years ago (the pictures look eerily similar) then it is not *really* a 2bd/2ba since the second bedroom is only large enough to be a den/office and/or nursery (meaning no windows and no closet which probably why it is not pictured). So I would say most definitely not a good deal. I bought my 2bd/2ba unit in AM 2 years ago and paided way less and am on the 2nd floor.

  • If there were no windows in the room, then technically it cannot be advertised as a bedroom.

  • actually, fyi, folks, the building next door is not a firehouse. it’s a field office for DC’s special operations units. The firehouse, as a previous posting discussed, is up on 14th and Newton.

    honking noise aside, the location is ridiculously convenient and that has to be a price factor. Even one block makes a big difference on whether or not you can “run over to Giant” or “run over to Target”. Especially in the winter.

  • Basement units should be rented and not sold. Nobody really wants to live in a dark English basement apartment for too long.

  • Sir Dick – I would say the seller agrees… made it just over a year

  • There is no such thing as an English Basement, let’s just call it what it the whole in the ground. Even hipchickindc would agree this is a bad deal. She is an honest realtor:)

  • Not a good deal. 880SF would be a comfortable 1BR. It’s a very cramped 2BR. And being in the basement, with narrow (horizontal) windows means it’s dark on all but the sunniest days. Notice they only photographed one of the BRs, and that one was taken with some kind of panoramic lens. I think it’s a really small BR. Based on previous comments (someone found a previous sale price of $414K in 2008) it looks like seller is trying to get out without taking too much of a bath. Price is going to have to come down. It’s not 2008. I think it would sell fast at $309K – small, underground and dark, but well located and underpriced.

  • I have been in this condo, everything is proportioned well but I certainly would not call it “giant;” though, the owners were very creative about storage space. The 2nd bedroom has bunk-beds and surprisingly works well for two small children. The master bathroom is definitely the nicest part about this place.
    I was truly shocked when I heard what they were asking for. Just because everything is new doesn’t mean $400K is an automatic minimum, which seems to be a trend around the District. I would never dish that out for such a dark place.

  • This is kind of sick, while a bunch of people are loosing thier jobs around the county, people in DC are purchsing 4 dry walls plus a floor for over 400k wake up people. People arond the county are loosing respect for these crazy citizens from DC. In addition to 400k, they are spendig 203k money to fix up the galley style kitchens. Great for all of you federal workers

  • To “What the?!?!?!?”, I think real estate irrational exuburance from ’04-’06 actually extended into the summer of ’08, and it was only after sh!t hit the fan in September where people (and banks) started to think more reasonably about how much money is a reasonable amount to spend or lend for a place to live. JustMe makes a good point that the price needs to line up better with what it could realistically rent for as an apartment (which yes, it should have been in the first place instead of a condo).

  • Nita I totally agree and thought the same thing too but was pretty suprised when I was condo shopping that quite a few of the 2bd’s that I was looking at ending up having the “second” bedroom being no more than a glorified walk-in closet!

  • The realtors are back into the creation of “Realestate Hype” in DC. Anonymous at 3:33 p.m. I agree with you. I am not sure which of these professions are worse, Physicians– give me your insurance card, Attorneys– how are you going to pay for this visit, or Realtors, this property sold for X therefore your property will sell for Y or that was last years market price, can you reduce your asking price, to the buyer we have multiple offers, can you increase your asking price, you don’t want to insult the seller. Can you go up 20k with your offer.

  • @ Anon 3:33 – you weren’t paying attention if you weren’t aware of the problem in March ’08 and under your logic, you’re contradicting your own point. In March ’08 you would have been willing to rent this place for $2,300? I think your answer would be ‘No”, which means you overpaid then, just as you would now. You could probably rent this place for $1700-$1900 then and now (my assumption is based on neighbors who rent out illegal bsmt apt for $1000/month includes utilities & cable/net).

    Are you a real estate agent or did you overpay in the summer of ’08?

  • What the ??, I’m not saying the March ’08 buyer wasn’t an idiot, I’m just saying there were still a lot of idiots even in 2008, so even though what they paid is crazy, it’s not uncommon for what people were paying even just one year ago. I agree that if you had taken some time to think about it rationally, or read about what was going on in the real estate market, you wouldn’t have paid this much for a basement apt. And no, I’ve never purchased a house or a condo.

  • Anon – Did you read the second sentence about having an honest realtor? Please note that it was full of sarcasm… still too many used car salesman/realtors and too many naive people using them… Have a great weekend!

  • You do drink CH Kool-Aid if you think this location justifies anything close to this price. I say this as someone who lives in Columbia Heights and likes it, but seriously? It’s underground, and let’s face it, that Giant is a crappy grocery store. For that money you could buy down in Logan near the Whole Foods:

  • What is the difference between a Used Car sales man and a Realtor? … The carsales man is more honest. Do you know the difference between a Realtor and Don King…there is no difference. Do you know the difference between a Realtor and a drug dealer… the drug dealer will not rob you if you are honest with him.

  • A basement apartment is a basement apartment. I would never, under any circumstances invest in one, and certainly not at 409k. This is one reason why the splitting of townhouses into condos is a tragedy.

  • Has PoP ever said in a Good Deal or Not? post anything like, “This is clearly a terrible deal! The owner must be on crack to think anyone would buy at that price!” ? Because these posts all seem to be neutral or inappropriately positive when it’s clearly a poor deal, particularly here.

  • This a bad deal, 400k for a basement, what a pin head of an investment. 🙁

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