I Was Hoping For a GDoN but Let’s Call it a GDoN Rental.

IMG_2379, originally uploaded by Prince of Petworth.

I’ve been admiring the renovations going on at this house located at 1333 T Street, NW. (It’s not far from St. Ex.) I saw a sign out front last week but it was only for rent, so sadly we don’t get to see any photos of the interior. But if anyone is curious how much it costs to rent the main house (minus the basement unit) it is $5500 a month. This is for a 4 bed/3.5 bath including parking. Sound reasonable?

10 Comment

  • My first reaction is DEAR GOD! After further reflection it isn’t as bad as I thought, but still, it seems quite high. There’s a big Victorian rowhouse of similar size on the 2900 block of Sherman Ave that’s going for about $3,000 being rented out by 4 young folks.

    I don’t think you can just calculate the price for two nice 2 bedroom rentals and say your 4 bedroom house is $2750 x 2. The main problem – privacy! basically you don’t have a 2 bedroom place, you have a shared group house (remember animal house back in the good ‘ol college days?)

    But for those who still think the privacy thing isn’t a premium (or should be a discount here) – let’s say it had 6 bedroom – would it go for $8250???? Does anyone really believe they wouldn’t just take their $ and go get a really nice 2 bedroom rental instead of being forced to share the public space and general hotel atmosphere?

    just saying…

  • I’m sure a temporary political appointee, ambassador in training or foreign embassy will be very interested.

  • I’m with StubsDC. This property, like so many “good deal” properties on PoP, is a good deal for only a select few.

    Here, this might work better:


  • It’s a pretty terrible deal. Most people could probably buy a similar place for a mortgage payment of around half that.

  • lordscarlet

    It’s a pretty terrible deal. Most people could probably buy a similar place for a mortgage payment of around half that.

    In what world? Zillow.com estimates the home at nearly $1m, which is probably a fair estimate. It was sold in 2008 for $745,000. You think that person is paying a $2500 mortgage?! Assuming they got a 6% interest rate and put 20% down, that’s still a $3500 mortgage before you throw in taxes and insurance. After you add those in it probably creeps toward $5000.

    If you’re going to say, “well in Petworth (or some other neighborhood) you can get that much house for much less,” don’t waste your breath. This rental is not in Petworth, it’s in Logan/U Street where property values are much higher.

  • Its way overpriced, even for the area. You can rent a 4 bedroom place (that includes the whole damn house so you actually have a basement) for 4000-6000 anyplace in the city, including U street, georgetown, adams morgan etc. I’m going with waaaay overpriced.

  • I wouldn’t say waaaay overpriced, but I mostly agree with what lordscarlet said (minus the Zillow estimate). It would be cheaper to buy the place and pay the mortgage then rent it (I’d say a reasonable estimate of PITI is $4200-4400, assuming that $745k sales price–which does sound a little low–isn’t crazy under the assessed value), but you’d need 20% down to get a mortgage nowadays. That’s a lot of jack saved up. And I don’t think they are necessarily betting on the group home crowd, but even if they were this price isn’t that way overpriced crazy (though, for sure, you could get something crappier–either in terms of locale or condition–for less), b/c I’d imagine you get 2 parking spaces with the place, and they’re like $200/per in the neighborhood).

  • Granted this is Logan, not Petworth…but what would a place like this go for in Petworth…assuming you could find a similar totally renovated 4 bedroom house with parking, within a block or two of the metro to make the comparison fair?

  • Prince Of Petworth

    In Petworth my guess is that it would go for $2000-$2500 a month.

  • Quick craiglist search found a 4 br house 5 blocks from Petworth metro going for $3k, and a 5br house about 11 blocks north of petworth (Ga and Decatur) for $2600. Houses in Eckington (so NY Ave red line metro) were similarly priced. But the closer you get to the central business district, the higher the prices shoot (Mt. Vernon square was in the 4s–for what I assume must be someplace with a kick-a$$ renovation). A georgetown place was going for $9k. Again, one must assume that with anything in the “super premium” pricing has had good renovations done on the inside (i.e, not looking to rent as a group house situation).

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