Good Deal or Not? Sherman Circle Reader Request Edition

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This home is located at 425 Decatur Street, NW:

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The flier says:

“Fully available! Hot Petworth, granite counters, stainless appliances, hardwood floors, ceramic tile, solid maple cabinets, jacuzzi, closet space, finished basement, covered deck, off street parking, and more. Needs paint, carpet, and one smart buyer. One bank, but be patient to get this great deal. We’ll get it done, and you’ll get instant equity!!”

You can find more info and photos here.

It was originally going for $400,000 but has now dropped to $345,000. Sound reasonable? What do you think of the house itself?

26 Comment

  • seems like a nice house. though i’m not sure about the neighborhood.

  • i live on this block and i can say the neighborhood is just fine. never had a problem, but you just have to be smart walking around like anywhere else in Petworth. neighbors are friendly too.

  • pretty good deal. i used to live nearby. it’s pretty peaceful up there for DC. there just isn’t much around. at the same time it’s a quick car ride to just about anywhere and parking is a breeze

  • saf

    What the heck does “fully available” mean?

  • Pretty good deal.

  • These dropping prices are killing me! We need to see increases to be happy! Place looks great. I wouldn’t be surprised if it drops a little more.

    I hope more people move the the Grant/Sherman Circle Metro area, it’s quite a quiet and peaceful neighborhood, and awesome home fireworks displays in the circles and at nearby Clark Elementary Proving Grounds during the 4th!

  • GREAT deal

  • Probably a good deal. But, that is a pretty awful/slapdash attempt at a kitchen remodel. Be prepared to pull that out and re-do it.

  • It’s a short sale, so the list price really doesn’t mean much of anything. They can drop the list price to whatever they like, but if the bank won’t approve it, it’s not going to sell.

    \Fully available\ seems to indicate that it previously had more than one bank with an ownership stake in it, and it’s now available…once you negotiate a price with the \one bank.\

  • If you’re going to live this far from downtown, why not just move to Maryland or Arlington? Long commute to the office, and better schools/services/quality of life.

    Honest question, though. Is it cheaper to live in one of the far-out neighborhoods of D.C. than in one of the suburbs just over the border?

  • anon 3:20, you really think you are going to get a big townhouse in Arlington/Alexandria or Bethesda/Silver Spring just over the border for $350k? This rowhouse is a 20 minute walk to a metro station (at most) that will have you downtown in another 10 minutes. and you are basically on the kansas ave bus line and not far from the georgia avenue bus. Plus with access to rock creek parkway, you are pretty much under 30 minute commute time to any close-in location in virginia, maryland, or the district. But you make it sound like Antarctica.

    I know someone on Decatur and they seem to like that it is pretty quiet, and have not had any problems whatsoever with “quality of life.” Of course you are going to get better schools and services in the burbs, and more people who look like you do, so if that is what you are looking for, by all means live in the burbs.

  • I live in 16th Street Heights and it is actually very close to downtown and a zip to get anywhere in the city–so close to rock creek. Petworth is probably 4-5 miles from downtown/metro center and 3 to Dupont–nothing like the commutes from the nearby or far away suburbs–plus the buses are great and nearby metro…and great bike lanes.

  • At about 3.5 miles from here to downtown there’s nothing this close in Maryland and very little in Arlington that would be low rise at this price. Schools are an issue but if you’re afraid of your kids having to go to school with black people in Petworth I don’t see why you’d be OK with them going to school with Latinos in Arlington. Some will say the schools are better quality there, but I’ve never bought that the same kid will grow up worse when surrounded by public transit and the occasional drug dealer than they would of surrounded by SUVs and ritalin-pushing kiddie shrinks. In Arlington you get to deal with bridge traffic if you’re dumb enough to drive and you get to pass by scenic Ballston or Pentagon City on the way home. Live up there and you get to pass Adams Morgan and Columbia Heights on the way home.

    Just sayin’.

  • anon 3:20—Petworth is WAY closer to downtown than the suburbs. (Take a look at a map to see what I’m saying). It’s about a 20 minute bike ride, and great mass transit. Plus as Anon 3:35 just said, Rock Creek is really close. I had considered moving to Takoma Park, but when I realized that it would basically double my biking time, I opted for Petworth. Plus Petworth is a MUCH better value!

  • That’s a good deal. 15-18 minute walk to the metro, and bus lines nearby. No real problems in that area that I’m aware of…just a quiet and mostly friendly neighborhood that keeps getting better.

  • Well, I live nearby and this price is less than my tax assessment, and I don’t have any granite countertops (mental note about materials for the upcoming remodel), so I think it’s a good deal.

    As for the closeness of Sherman Circle to downtown, it’s a total breeze, thanks to the 63 and 64 busses. During rush hour, you can get from Sherman Circle to Federal Triangle in about 30 minutes, all on one bus. The 64 gets you from Grant Circle downtown in about the same amount of time the rest of the week. And with the addition of Yellow Line Service to GA Ave/Petworth station during off-peak times, the Metrorail options are not bad either.

    As an added bonus, the cab fare from downtown back home Sat night was less than $9, without tip. Try getting from downtown to the suburbs for that cab fare, if you could even find a cab willing to take you.

  • The schools do make a difference. It’s not about the color of the kids you attend school with – it’s about an organized and supportive administration that makes it possible for dedicated educators to grow a real school community. Not what we have in DC. Not even close. You can always send them to charter schools. Some of those are good.
    I live in a condo in that neighborhood and if I had the money I’d buy this house. It’s quiet. No problems. I’d love to live in a neighborhood with good schools, but that would cost another 150K more. I’m saving up one day to buy a house like this.

  • $345 is a good price. Should go in a week or two.

  • Nice neighborhood, great price. 20 minutes by car to the Shakespeare theater, Gallery Place, E St Theater. Cross the street and you are on a bus all the way downtown. A 10 minute walk to Upshur St, (Domku, Core Haus DC, Petworth Library) 15 min. walk to Qualia Coffee and Yes Market. This is a great deal.

    By the way, the neighborhood ES, Barnard, has a good reputation and a dymamic and talented principal. See more about it on Petworth News. Also, WTOP did a story on Barnard.

  • Great price, good location.

  • lemme tell you — it’s a steal at that price. really. really, really. if it doesn’t sell in a week, i’ll be blown away. and ticked (since i live nearby and think my house is worth more).

  • A super deal, on the 63 line to downtown and Fort Totten Metro is just six blocks east.

    Except that it’s a short-sale, so the price doesn’t really reflect anything. And yes, the kitchen sucks and should be re-done.

    It may never sell at all, though, because of the short-sale issue. I don’t understand why banks don’t wise up and start selling houses as smartly as they collect interest payments.

  • What do you guys think about this comparison–
    This house vs. 429 Warner Street (a mini house featured on GDoN a while back–sorry I can’t seem to post a link)

    Both are short sales. Both have been around for a while. Both got price lowered from around 400,000 to 340,000.

    Which is a better area for a single woman?
    Which do you think will have more potential for long term growth?

  • wotv, I think the Petworth one might be a better area for a single woman (though I am not very familiar with that area), but overall the 1BR Shaw house looks like a better fit (it seems more pricey for the size but has nicer character). The Warner St house is far closer to the metro, so that alone adds value. So while Shaw is not there yet, if you’re talking long-term, I think it def has more potential.

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