Tues. Afternoon Rental Option – Logan Circle

This rental is located at 1444 Church Street, NW:

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The listing says:

“Great large open unit in “The Metro” on Church St. 2bed & den with 2 full bath, patio, parking.Very well maintained modern building. Easy commute to downtown DC. If you like having everything around you convenient this just might be the condo for you. Close to everything! whole food, vida, starbucks!! Vacant and ready to move in.”

This 2 bed/2 bath is going for $3,800/Mo.

41 Comment

  • 2 bedroom plus den and parking in Logan? Great deal.

    • Yeah — I almost always think that the rent is too damn high, but for a 2-bedroom, 2-bath with den and parking — in the Logan Circle area and in a fancy new building — that sounds like a good deal.

      I see it says “patio” and not “balcony,” though — I guess this must be a ground-level unit.

    • Or you could just finance a $600,000 house with more space and parking…

      • Not here, though.

      • Curious, what areas in DC have homes for $600,000? I know there are several but are any close to Logan Circle with a Whole Foods across the street? I’d be happy purchasing a house in a neighborhood like 16th Street Heights but you could easily say this rental is a better deal for the right type of couple. I think this specific rental hits the sweet spot between the pros and cons of renting.

        • You could spend the money elsewhere, if you need to live in 16th street heights, you can easily buy a great condominium for 450$ and be in a lot better position than throwing that much money into an apartment rental in my opinion, but the rich have money to burn, so I may not be seeing it your way because I’m poor! hah.

          • Sadly, renting instead of owning isn’t just an option for people with money to “burn.” Depending on the neighborhood and the housing economics, are there areas where a monthly mortgage payments might work out to equal or less than a monthly rent payment? Sure. But what about the chunk of change up front for a down payment? Some people can’t accumulate enough savings (due to high rent…oh, the catch-22), can’t take a gift/loan from parents, or can’t live cheap with parents to turbo-charge their savings effort. (Also, I haven’t paid enough attention to the buyer market in DC, so I don’t know what’s standard on down payments for co-ops/condos, but where I came from, absolute *minimum* on the vast majority of buildings was 10% down, and most non-sketchball buildings required 20%.)

          • figby

            Hasn’t the whole idea of owning-as-panacea been mostly discredited with the mortgage crisis? Isn’t it just as wise to rent in this economy? I realize some people will always view owning as the only way to go.

          • My understanding is that most new home purchased, especially in places like DC, are FHA financed requiring substantially less down. Yes, there is PMI of a few hundred a month, but it gets you in a place like this for $25-35k down as opposed to 10 or 20 percent $60-120k in a traditional loan.

        • We house-hunted from 2009 to 2011. Logan Circle was my partner’s first choice, so we kept it on our search radar even though it was mostly out of our price range. Out of the hundreds of homes we saw during this time, only two came up in Logan that were in our price range. One was $750k but very, very tiny. The other was $700k and needed to be completely gutted. So I doubt you could find a house for $600k in Logan.

        • While it is not a house, I believe this unit was recently on the market for under 600k (or at least somewhere near that price). It never sold obviously, but with 20% down, you are not paying anywhere close to what they are asking in rent.

          As for the patio question above, I think the unit is slightly under ground, i.e., the windows in the living room are at ground level, so the floor in the unit is a foot or two below street level. The picture shows the patio; it is the bricked in area in the second picture.

          • Found the listing: http://www.trulia.com/property/3016492769-1444-Church-St-NW-104-Washington-DC-20005

            I guess it was for sale for 640k, so I was a little off. More pictures available if you look at the Trulia link.

          • What about the condo fee?

            And, sure, you cut put 20 percent down and pay less of a monthly payment, but you’d have $120,000 sitting in your condo instead of being invested elsewhere in something getting a higher return than the very low mortgage interest rates you’re paying right now. The point being that these calculations are not as straightforward as you might think.

          • If you Google “1444 Church Street Northwest #104” you can see the Trulia listing for the home (with more pictures). Apparently, you can’t post links in the comments to this blog. That said, it was listed for 640k, not 600k.

          • Sold for $640k in less than a week. Putting 20 percent down you’d need to come up with $128k to buy it, plus closing costs of another $15k to $20k. So you’re at around $140k that you can’t invest elsewhere (note: the stock market has gone up more than 10 percent this year so far), you’re paying $2300 in a mortgage (at 3.5 percent), another $415 in condo fees, and another $500 a month in taxes. Yes, you get the tax write-off, but with rates so low you save less than in the past.

            It’s not clear cut that you’re all that much better off buying this place than renting it.

          • Except you are forgetting that the $2300 mortgage payment goes to equity (i.e., you keep it unless you lose on the house, which is unlikely in Logan) whereas the $3800 rent is just thrown away (and without the tax benefits, which are not that insignificant). I’m not saying 128k is easy to come up with, but that doesn’t make renting at 3800/month a good deal.

      • I know, right?! You could own a 2 bedroom trailer outside Cumberland, MD for $13,000!! Who would ever pay these kind of prices to live in Logan Circle is nuts.

  • Why are there “HDR” photos in these listings? It looks weird, is it to hide dirt?

    • I saw a listing the other day for a one bedroom with photos shot solely through Instagram. Your renting an apartment people, not posting it on Apartment Therapy.

  • Sounds too good to be true. Does this building have any ammenities?

  • … I’m still baffled at how rent can be so much. Do all of you make that much that you can afford $3,800/month in rent? Does that include cable, maid service, a gym membership, weekly massages, etc? … I know I’m being overly dramatic, but that just seems insane to me.

    • It’s a 2 bedroom, so the rent would probably be split between two people. Considering a lot of studios and 1-bedrooms start at $1700, a lot of people could afford to pay $1900 in rent. Not everyone wants to pay that much to live with a roommate, but if they really like this location and need parking it might be worth the tradeoff.

    • The $3,800 rent for this unit is certainly not cheap — but it’s in Logan Circle, in a boutique-y new condo building, so I’d expect it to be high (and wouldn’t have been surprised if it were higher than this).

      It seems like a good deal in relation to other boutique-y condo units that have been posted on here in past months. Some of those have rents that seem stratospherically high to me, whereas a couple where each person had a pretty good income could probably afford $1,900 per person.

    • valentina

      THIS! i’m always amazed at places renting for 5-6K/month and people commenting on here, “great deal!” or “I’d move there in a heartbeat!” Really?

      • Wait, on PoP? I rarely recall seeing rental options priced higher than this one, much less any with comments proclaiming it a good deal.

  • wow, no one’s complaining about the exposed duct work, or lack of pics of the bedrooms, den, & bathrooms, and still calling a $4k/month rental a good deal? you people are off of your game.

    • Exposed duct work is a feature, believe it or not. As for the lack of bedroom and bathroom pics, yeahhhhh… but considering we got multiple stages of horrible HDR pics, something tells me someone’s not very good at uploading photos to the internets. All of that being said, price is just right for the location without a single doubt in my mind. Sad but true.

      • i don’t mind the exposed duct work one bit. folks usually seem down on it anytime a property in one of these postings features it, though. esp for that kinda money.

  • Anyone else think this is just a 1br plus den and NOT a 2br? Notice the the wavy room divider thing instead of a real bedroom door?

    • I looked in this building when i started to look for house/condo is 2009 and i remember something to that effect that it wasn’t a true 2 bedroom because of the divider.

    • No–I see two bedrooms–one on either side of the living room. Looks like they’ve made the “den” into a walk-in closet.

  • It might not be extortion but it’s hard to see how anyone can consider it a “great deal.” Paying $1900 to share an apartment with someone may indeed be an option that some folks consider and can afford, but could they have found something better? Oh yeah.

    • A good deal _for the area_, and a good deal _for a couple_. (IMO, anyway.)

      I would never want to pay $1900/month to live with a roommate, but I could see a well-heeled couple going for the place.

  • this is decidedly NOT a good deal. I recently moved into a beautiful 10th floor 2br apartment for less than $2500 a few blocks away in dupont. granted, it’s only got one bathroom and no parking, but I hardly think that adds up to an extra $1300/mo… you could rent another studio apartment for that. of course, if the market will bear it, then it’s reasonable, but people are crazy.

  • Not everybody uses window blinds in that building so if you happen to work nearby, you often see some really nasty stuff going on when you’re walking to the Metro at night. Alternative lifestyle stuff.

  • Too high, even for the “boutique-y” enclave of Church Street. It is just a smidge over 1000 sq. feet (which would feel small or “cozy” for a 2BR/2BA w/den) with that boring symmetrical layout that so many boutique-y apartments have adopted that is betters suited for roommates than couples. You can find comparable elsewhere in the city in the $3000-3500 range (e.g., off U Street, Dupont, Champlain St., etc.). If you have a car, just remember that Whole Foods has free parking too.

    • Ha. Agreed. Guess I’m cheap, but this is ob-nox-ious. Hope the types who move in here (with a roommate?!) enjoy their ridiculous place. Happy I still have a beautiful place in a beautiful neighborhood, close to my office (in Dupont) and ample street parking for a quarter the cost. … and I own.

  • Yes, of course you can find “better deals” in other neighborhoods. But you will be living in somewhere like Columbia Heights and will have to deal with all of the crime that goes along with that. I’ll pay a premium (to rent or own) in Logan any day.

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