Good Deal or Not? “AND 2 PRKG SPACES” edition

This condo is located at 1312 Euclid St, NW:

View Larger Map

The flier says:


You can find more info here and a virtual tour here.

$579,900 ($471 monthly condo fee) sound realistic for this 2 bed/2 bath?

23 Comment

  • Given the location close to U Street, its probably a good deal esp with 2 parking spots. Columbia Heights is getting so exspensive, though.

  • Decent remodel. Paint makes it feel dark and small, but I think that could be fixed with some lighter colors.

    The stretch of 14th that it’s near is not appealing to me though.

  • Real Estate Agents: Please don’t tantalize me with “HIGH END FINISHES” and then show me bathrooms with cheap tile, vanities and fixtures .


    • +1 – Except for the bathroom pictured, this place looks like a nice condo. But the price is high for that location (especially with a condo fee). Someone will pay it though, thinking that 2005 prices are just around the corner.

  • I live close to this with similar specs (2 bed, 2 bath), same finishes. My bedrooms are larger, as is my private balcony. My condo fees are over $100 less/month. However, I don’t have parking. But given that the parking here is outdoors, they are worth the difference in price between my condo and this one. The difference is nearly $160k. Although I wish this condo would sell at this price and therefore boost my own property value, they are reaching here.

  • High condo fees, presumably related to the parking. And still a bit of a walk from Colubmia Heights or U St metros. For the size and the parking, I’m sure they’ll get asking. While I enjoy living in CH, I know I’ll never be able to afford here.

  • There is something seriously amiss with that condo fee.

    The building was gutted and the 4, 2 br condos in it were brand new as of 2005. Condo fees this high are associated with buildings that are either old, or have pools, rec facilities elevators, things that are expensive to maintain. This building “should” be fine.

    You can also see in the ad that the condominium is self managed, so they aren’t paying a management company, which is fine in itself, but makes me even more suspicious of the condo fee. at ~471 per unit (x’s 4), they are collecting $23,000 a year in condo fees to “maintain” the common spaces of a 3 story row house and pay the minimum utilities that aren’t unit related.

    I’d recommend the prospective buyer use every minute of the condo doc review period and go through their books with a fine toothed comb before continuing the purchase. Something is amiss. There is no way I would buy a condo in a new building (rowhouse) with no amenities, that has a nearly $500 month condo fee.

    • It’s possible that they’re just trying to build up some reserves. But I agree that a prospective buyer ought to check out the books.

    • +1

      Aside from some minor landscaping and the parking spaces, I can’t possibly see what that money is covering, even if all utilities are included. Assuming electricity isn’t included, the fees should be half that.

      • If the parking spaces convey with the property, it means that they are privately owned, hence the property tax associated with them the responsibility of the condo unit owner, not the association as a whole.

        However, even IF the parking spaces are simply structured as a limited common element, their affect on the overall associations property tax would be minimal.

        If that condo associations property tax was more than 4 or 5K a year, I would be shocked.

        They could be just going full bore on building up their reserve account, which by now must have atleast $~100K in it, but considering the newness of the building and the percieved time before they have any serious expenses (roof?) I would tell them that those condo prices are summarily reducing the market value of their condos, as people don’t want to pay that much for a condo when the fees are that high.

        Considering they are only asking for 3% more than they paid for it 6 years later (which means they are taking a 4% loss) when DC’s housing market in general, and condo market in the 14th street corridor has been going gangbusters regardless of the economy, I would say the condo fee is already negatively affecting the price.

        I’m not buying it so I don’t care, something just screams “issues” with this place to me.

    • +1

      The $500+ condo fees are what is preventing me from buying a condo. I will wait and eventually buy a single family home when the right one comes along.

      What on earth costs so much? $2000 for general insurance, maybe. $2000 for snow removal, maybe. $2000 for landscaping, maybe. $1000 for common space utilities. Where does the rest go?

      By now, that reserve fund has to be HUGE. Even assuming that half of the yearly fee goes to services, the reserve is probably over $60,000 already.

      • Our new roof cost hundreds and hundreds of thousands of dollars, all for a mid sized building to split. I agree with you that $470 condo fees on a building this size is ridiculous, but fixing/maintaining the structure of any building can get expensive quickly.

        • “Our new roof cost hundreds and hundreds of thousands of dollars” — hundreds of thousands of dollars for a roof you guys got robbed

  • Because the condo has 4 units, I assume the condo fee also covers trash pickup. I have no idea what that costs though.

    One little thing that would drive me nuts: It appears that there isn’t enough of an overhang from the kitchen counter where the stools are so your legs would constantly be bumping into the cabinets there. On the whole, it looks like a relatively cheap renovation.

  • Often, these condo fees are set by the developer when they put the place up. They just throw in a number based on some made up maintenance/insurance costs. It’s up to the tenants to figure out what they really need to budget for each year’s expenditures. Once you know your budget, you can lower your dues to a reasonable amount. Otherwise, you’re just wasting money. I lived in a similar type building and we were able to lower our dues substantially from those set by the developer (who assumed we would hire professionals to do everything under the sun).

    One major caveat, lenders are serious about the amount of money in reserve when looking at loans for small, self-managed buildings. Before lowering dues, you should do some research to see what amount you should be keeping over and above your budget (it’s usually a percentage of your yearly budget per year).

    Unless this building is recovering from some major issue, I agree that these fees seem high.

  • Pirced to high for that part of 14th especially considering the gang problem and the shootings that occur every summer one block north

  • There is nothing impeccable or high-end about the fixtures or finishes. It is a typical home depot reno. Not that it’s a bad thing. but let’s call it what it is. the condo fees are too high. “FHA financing pending” means nothing.

Comments are closed.