Good Deal or Not? “Renovated sun-drenched 1BR 1BA” edition

This condo is located at 1939 17th St, NW:

View Larger Map

The flier says:

“Renovated sun-drenched 1BR 1BA w/ amazing views in the heart of DC! Open liv/din area has sunny Western exposure w/ lg bay windows, gleaming HWF’s + 10ft ceilings. Spectacular new roof deck w/ Dupont Circle views. Has W/ D in unit, CAC. Sm pets OK. Walking distance to U St, 14th St, Adams Morgan, Dupont Circle, Harris Teeter, Safeway and the metro! Motivated Seller! Reduced $30,000!!!”

You can find more info here and photos here.

$299,999 ($130 monthly condo fee) sound right for this 1 bed/1 bath?

23 Comment

  • What’s the catch? Anything under 300K seems like a steal. Oh, never mind, I just saw the photo of the “kitchen.” No room for a dishwasher. Or even a dish.

  • That kitchen is hurting a bit there! But I dig it otherwise (not a big cook anyway).

  • New price was new almost a month ago. Still over 700/ sq ft. That’s ridiculous.

  • over $700 a sqft for that? No thanks.

  • No matter what the price, I couldnt live in something that small. Its obviously over priced, because anything that would cost 1300 bucks after a 20%down payment would go very quickly in this location… unless of course it sucks!

  • Is it just me, or doesn’t it look bigger than 420 sq ft based on the pics? Unless the furniture is miniature-sized (which would be a new real estate tactic I hadn’t heard of before, but kind of hilarious if put into practice for staging purposes)

    • The furniture is small and the high ceilings give it a larger appearance.

    • That’s what I was thinking too… but if it were any bigger than 420 square feet, I assume the listing would be trumpeting “TAX SF INCORRECT!”

      They must’ve done some clever work with wide-angled lenses or something.

  • $700/sqft seems pretty high, even for the neighborhood. Knock off another $30K to get it to $650/sqft – that might be about right, but still seems high to me. My sense of the the market in the U Street area is that it’s closer to $550-$600/sqft, which puts this listing in the “overpriced” category.

    The other downside is being right on a very busy corner (17/U) and next door to both a firehouse and nightclub (Chi Cha lounge). This would not be a good place for anyone who is sensitive to noise.

    • msmaryedith

      Yeah you are totally right about the firehouse. I dated a guy who was at 16th and U and it was TERRIBLE for noise. We used to mimic the 20 different types of sirens you heard on a regular basis while trying to sleep. You also got to listen to people screaming on the Local 16 rooftop whenever the weather was moderately nice. No thanks.

  • That’s way too expensive for that location. The apt is tiny, you would never be able to entertain for dinner, and yeah, the noise over there is terrible.

  • I believe there are structural issues with the building.

    I live 1.5 blocks away, in 500sq feet – paid $265k, unit has a balcony in a much larger building(higher fees), so I definitely think for the location, $299k is right given what brokers have said they’d list mine at when I put it on the market. It’s got w/d in unit, which is hard to find in units that small. And when showing, they’d be served well by investing in one of those crate and barrel butcher block carts to make the kitchen space look bigger.

  • I wouldn’t live there, but it would be nice to rent. It would easily rent for $1500 per month and the landlord would take home a decent profit.

    • with 20% down, including condo fees and property taxes, a landlord would not be taking in that much money on a $299k property with $1500/mo rent.

    • This unit would pull in $1900 a month in rent. $1500 is a hard find for even basement apts.

      I think its priced well. The sub $300K listing should generate interest.

  • Yeah, that tiny kitchen/appliance corner/whatever-it-is would be a deal breaker for me, even if the place was a lot cheaper. I get that some people don’t cook, but I don’t understand those people. 😉

  • 299 is high. I think 260-280 is more appropriate. The unit has a good chance of selling quickly even at an elevated price because it has many of the amenities not found in other similarly-priced units in the area:

    – a true bedroom
    – washer/dryer in unit
    – renovated
    – low condo fees
    – not a basement unit/good light

    The high property taxes indicate that the owner is probably using the condo as a pied-a-terre or income property, so might not be in a huge rush to sell.

  • It is definitely not worth it, but I laud the real estate agent for trying.

  • I have a friend who lives around the corner (to the south) on a nice quiet street in a comparable though slightly bigger unit (500 s.f.) and his just got appraised for $260k. I think this is overpriced. But the condo fee is awesome.

  • Oops. I meant $280k (appraisal value). But still, $260k for this unit would be more realistic.

Comments are closed.