Good Deal or Not? “This is a HUGE unit” edition

This coop is located at 3600 Connecticut Ave, NW:

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The flier says:

“This is a HUGE unit in the back so nice and quite. Upgraded kit w/ granite and SS apps, warm hardwoods, separate dining room, charming entry foyer, cute bathroom, large bedroom and huge closets. Well managed coop, extra storage, bike room, new laundry rm, cats only, rental w/ permission after 1 year. Low fee $348 includes taxes. This is a must see, a real value.”

You can find more info here and photos here.

$280,000 ($348 monthly fee) sound right for this 1 bed/1bath?

Ed. Note: a unit on a higher floor is going for $349,000.

14 Comment

  • Not so sure about a HUGE unit in the back, but I guess some might like that.

  • Insert appropriate “huge unit” joke here.

  • That’s what she said?

  • That is a good deal. Large one bedroom in a nice neighborhood, updated kitchen, walking distance to metro, reasonable condo fees, etc. I think it will def. go for asking price.

  • Depends on the reserve study.

  • Also, does the fee cover the underlying mortgage considering it is a co-op.

    • not all co-ops have underlying mortgages.

      at 348, i’d doubt it would include it (if it indeed has one).

      this is a great deal – people in DC seem to be skeptical of co-ops for some reason. as a former owner, i assure you that it was almost no different to me than a condo. the only differences were that:

      1) you have a small (but adequate) pool of lenders to choose from.
      2) you can’t rent it forever – this isn’t meant to be an income property, it’s meant to live in. fine for me, fine for many people.
      3) no second mortgage were available (ha! as if you could get one on a condo now anyway).

      at the time i had mine, i benefited from the fact that closing costs were significantly less (no 1% transfer fee from the district). sadly for future co-op owners, they closed that loophole.

      for this location, the quality of the place, and the proximity to metro, i’d call this a great deal for a first-time buyer.

  • i lived in this bldg ages ago as a renter. Very nice people, well maintained, there is a lot of street noise if that bothers people.

  • No central air? What is this, Baghdad?

  • This seems like a very good deal (unless there’s more than meets the eye). Makes me want to sell my place (with the thinnest walls on the planet) and buy this one (assuming it has thicker walls).

  • Well it’s been on the market for 3 months and they dropped the price 10K already, so I don’t think it will go for asking. It’s a nice unit, but it’s got the same problem that a lot of these older buildings have, no central air, no in-unit laundry. Some people don’t mind those things when dropping $300K in a 1Br place, but that population is getting smaller and smaller. I personally don’t want to sink that kind of cash in a place and still trudge to a laundry room, or listen to the loud rattle of my window unit A/C. I’d wait until I could afford something I liked that didn’t remind me of living in my college dorm.

  • Wait, I fail to understand how it is more updated and the same size as the unit “on a higher floor” and is somehow $70,000 less. $280,000 seems like a great deal for a nicer unit with SS appliances and granite counter tops (all the stuff many first-time home-buyers like but often can’t afford.) Someone please explain this to me.

    Also, personally, I would NEVER pay $350k for a place without in-unit laundry. Wouldn’t happen.

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