Good Deal or Not? FSBO Request

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This condo is located at 1930 New Hampshire Ave NW:

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The owner writes:

“My wife and I are selling our 2BR/2BA condo in Dupont Circle, which we love so much. I’m going to business school in Philly in the fall and so we’re moving north. Going to miss this neighborhood like heck, but hopefully we’ll come back someday.

It’s a great place in a great location and we’ve been extremely happy here. Uses space really efficiently, which we found lacking in a lot of the new construction we looked at as buyers a few years ago. Has a separately deeded off-street parking spot also available. Furnishings also available.

We’re going to FSBO route to save commission.”

You can see the full listing here.

Does $535,000 sound reasonable for this 2 bed/2bath condo?

18 Comment

  • If I was in the market for a 2BR in NW DC, this would probably make the top of my list. I recommend stating what the condo fee covers. Otherwise, I think they should have bumped up the price a bit. Maybe it’s priced to sell quickly? Or maybe it reflects the smallness of the rooms? I dunno. Awesome location. I say good deal.

  • Keep the Condo and rent it. The rent you receive from there would more than cover the rent in philly.

  • I gotta admit the condo looks great. Are they sure it’s a 2 bedroom and not a 1 bedroom + den? The second “bedroom” doesn’t look like a closed off room.

    Alas, some sap will likely purchase it for close to asking price. I think it’s foolish to spend over half a million for 950 sq feet plus another $50k for parking. For $600k you can buy a 2,000 sq ft rowhouse a mile away (upper columbia heights or petworth area)with access to the same amenities.

  • well I did a quick redfin search of 2BR/2BA condos in Dupont circle under $600K. It seems that properties comparable to yours (same square footage, no basement level units, washer/dryer, similar finishes, etc) are in the $480-490K range.

    And you’re going FSBO.. so no I don’t see your place as a deal. If you’re going the FSBO route, I would expect it to be priced a little lower than market rate. (I guess I would expect you to split the 6% in commission that you would save). But as it is with many FSBO listings I’ve seen, they’re usually priced too high.

    Maybe if you’re including the parking, it would be a good price, but you’re not.

    That said. If you are coming back to DC, I think you should keep it and rent it out.

  • I’d echo former Georgetowner, plus you might want to look at this other 2BR in your building for $100,000 less:

    • That place looks like it needs some pretty major upgrades to be on the same level as FSBO’s, but a good comparison nonetheless.

      Think they have enough couches? Lord.

  • Nice unit, but based on other listings/comps, you’re way above the market price, by at least 70k.

  • I’d never sell this. Just rent it and live well in Philly.

  • Yes, rent it for $3000+. You may have a monthly loss, after property management fees are factored in. You’ll make a chunk of this loss back by depreciating the property (only allowed to non-occupant owners). Do the math — I recommend getting a “Schedule E” from and filling in the numbers. The last thing to look at is your principle growth. If you end up taking a $600 loss on a monthly basis, but your principle grows by $700/month, it may still be worthwhile to rent it.

    The FSBO and high price leads me to believe they may not be able to sell for much lower. Renting is a good option.

  • Even if you were paying a couple hundred a month to keep it as a rental, think of it as a great retirement investment (or a college fund for your future kids!) that somebody else is paying for.
    Unless you absolutely cannot afford grad school without selling it.

  • I really don’t think you can get away with saying this is in Dupont Circle. Bit of a stretch for me. (isn’t it EAST of Adams Morgan?)

    • It is Dupont. The actual “circle” is not the center of the neighborhood boundaries and is really in the southeast corner. That tends to skew peoples idea of where the actual neighborhood is.

      The place is a little over priced nonetheless. I would rent it and refinance if you can and get in on the low interest rates if it’s worth it to your situation.

    • Definitely would call this Dupont Circle. Refin’s definition has it between 15th and 22nd/23streets and Florida/W and Pennsylvania ave to South. I wouldn’t go that far north or south (I would say N street to South and U street to the North) and perhaps the block between 15th and 16th could be Logan Circle-ish. Definitely not Adams Morgan.

  • the DC property tax database calls this neighborhood “Old City.” So I’m not sure this is in Dupont Circle either.

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