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Good Deal or Not? “walk up attic” edition
This house is located at 3901 Illinois Avenue, NW:
The listing says:
“5 bedroom Brick Semi-detached home. Remodeled kitchen with new stainless steel appliances. Hardwood flrs.Master bed with Walkin closets. Unfinished basement and walk up attic. 1 car garage.”
You can see more photos here.
This 5 bed/1.5 bath is going for $499,000.
Category: Petworth, Real Estate
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5 bed, 1.5 bath? Ouch.
This would be a fun project. Anyone spot me the down payment? I’m totes good for it!
These closets be walkin!
That seems like a solid deal — plenty of storage, decent condition, large house, and just a half-mile to the Metro. Spend some $$ to add a second full bath and whatever other clean-up is needed and you’ve got a great place.
A project home with a lot of potential. How much would it cost to fix this place up though? Say it costs $100,000 … still seems like $600k would be a bit high for the neighborhood.
According to DCRA/PIVS, this property was bought almost 2 years ago for $175K by an investment company with the same address as the listing agent. And oh! That remodeled kitchen was done without permits as there are none on record for this property.
Keeping that in mind, I actually like this property but realize that it may need a lot of work to fix any of the “bones” let alone renovating it to one’s taste.
Make an offer only after a solid home inspection (yes, you can do this before making an offer) and a report from a structural engineer. Buyer be aware.
Certainly fair, if not a good deal
Its actually not a 5 bedroom. Its a 3 bedroom with 2 sunrooms. Its has an awkward layout so there is a lot of restructuring that needs to be done. The remodeled kitchen is sub-standard and would need to be remodeled if the rest of the house was also.
I knew the former owner and toured this house a couple of years ago. It needed a new roof (there was some water damage inside). We were also advised that the yard needed to be re-graded as the foundation was showing signs of water damage. Not to mention the ancient furnace and wiring. All in all, the number of problems found in the inspection were more that we wanted to take on. No idea how many of these problems were addressed in the renovation.