Good Deal or Not? “Very Cozy” edition

This condo is located at 3060 16th Street, NW:

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The listing says:

“Very Cozy 1 BR Condo, in Mount Pleasant/ Columbia Heights, Near new developments of Columbia Heights Metro. Great Location , minute to metro and shops. Seller will offer Home Warranty with Full asking price offer. Priced right to sell.”

You can see more photos here.

This 1 bed/1 bath is going for $299,998 ($266 monthly condo fee.)

15 Comment

  • I love this building. I checked out an apartment there a couple years ago (to rent). Between that and what I’ve seen for sale more recently, these places due appear a bit small. I still think they’re good for one person and at this price, in this location, I give this a “good buy”!

  • I enjoyed all the pictures of small corners of rooms

  • “Very cozy.” I assume this means I’ll be able to cook dinner while sitting on the toilet.

  • I used to live in this building, and it’s a great place. Convenient doesn’t even begin to describe the location. The apartments vary widely in terms of updates and amenities, so it would be important to see if this is one that has been redone recently or needs some TLC. The people in the building are really great, and there’s a nice sense of community there.

  • Yeah, bad photography, etc, but I think it would be much cheaper to buy this than to rent a comparable apartment. And this is such a great location! On top of circulator, S buses and 42/43. One block from metro. Two blocks from Giant. Four blocks to Adams Morgan. You can get anywhere in the city worth going in 10 minutes.

  • We all know that in real estate speak, “cozy” means small…the listing says 576 sq. ft. I’m not knocking that, but I find it amusing that the photos are labled “family room” and “dining room” when clearly they are the same room….um, right.

  • Fair deal. I think it is priced to sell right so it can go slightly below asking, which would be a decent deal.

    I looked at buying a place in this building in 2008. This one looks nice though ‘cozy’. Tough to tell how cozy it is from the photos, of course. The floors and crown molding are nice. I didn’t notice which floor it’s on though so that could be a factor. Great location.

  • This is a great building and although the space may be small it is super convenient and definitely worth the asking price.

    It seems like this is on one of the upper floors (view out the window). An added bonus.

  • I’m a novice as a buyer but I don’t understand what makes this place worth $300k. It looks ok but I’ve seen comparable 1 bedroom options closer to downtown. The exterior of the building is beautiful though.

    • One caveat. I live in that neighborhood and there have been a few fires so I personally would not live in an apartment any higher than the 4th floor (this one is on the 6th floor).

  • HaileUnlikely

    This strikes me as neither steal nor a blatant ripoff. This would work out to about $1550/month, including property taxes, for a buyer with good credit (assuming 30-year fixed rate loan, 20% down payment, good credit, etc.) If you don’t have a cool $60K you’re willing to part with for down payment, make that more like $1750-$1800/month (factor in higher interest rate and private mortgage insurance). What do similar units rent for in this building? I suspect that after factoring in down payment and closing costs, you’d have to hold onto this for quite some time to make money on it as an investment property, and unless you’re planning to live there for decades, being able to make money (or heck, being able to avoid losing money) selling it would be far from a sure thing.

  • This building is fantastic for it’s location. Rented two apartments in that building on that same floor (6th).

    Beware – bug problems are common there. We had bedbugs while renting there. It was a freaking nightmare. And the elevators are always broken. Nice neighbors though.

  • I live in this building and love it! Great location and very nice residents. We’ve never had any problems with bugs and we’re getting new elevators this year. I think the price could be negotiated down a bit.

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