Good Deal or Not? “spa-inspired bathroom” edition

This condo is located at 1527 Church Street, NW:

View Larger Map

The listing says:

“Experience the best of city living! This amazing condo is just steps to Whole Foods, restaurants, theaters and shops. This 1 bedroom unit features high ceilings, gleaming hardwood floors, a wood burning fireplace and a spa-inspired bathroom with a glass shower and a whirlpool tub. The large bedroom has a huge closet and lots of storage. Walk out to a private patio and assigned parking.”

You can see more photos here.

This 1 bed/1 bath is going for $499,000 ($225 monthly condo fee.)

12 Comment

  • Normally I’d say half a million dollars is acceptable for something like this, given that there’s parking and the location is exceptional. But I really don’t like this condo. I can’t put my finger on what is is exactly, but the layout is very unwelcoming and the finishes are either bland or downright ugly.

  • Good deal, I think. Garden level is kind of a drag, but seems roomy and is a super location.

  • Parking and patio is nice but there’s no character and it’s sort of ugly, the stove is a cooktop with only two burners, the kitchen is tiny, and it looks like there is no storage.
    I cannot imagine half a million for this place. We bought closer to the metro in the same neighborhood and paid less for 2 bedrooms/2 baths (no parking) and a more attractive unit.
    Just my two cents!

    • Entitled NIMBY owner: “But real estate in this neighborhood is supposed to go up by 30% every 6 months!!!! That’s what my broker promised me! If someone’s willing to pay, then that’s what it’s worth!!!! No one cares if you think it’s overpriced or if it’s beyond the means of 95% of the people who live in DC! At nearly $600 a sq/ft this is a STEAL!!!!!!!!!”

      PS – you’re a sucker if you pay half a million dollars for 1 bed/1 bath ANYWHERE in DC.

      • Or . . .

        You’re a sucker if you pay half of a million dollars for a basement apartment anywhere in the world.

  • “Bars on windows” edition. Yucky.

    • What ground-level dwelling doesn’t have bars on the windows in DC? All of the homes I’ve visited in DC do, including the Kalorama mansions and Georgetown row houses I’ve worked in. The joys of city life! That said, this place is ugly, yet they’ll get 500k for it, which I find terrifying.

  • Nah, crazy price for a one-bedroom… you’re betting that mortgage rates never normalize. Nobody will ever buy this from you if mortgage rates go back to 6 percent some day.

  • The price is not unheard of for that neighborhood. I love the fireplace, the bathroom and the patio.

  • Why haven’t the owners thought about renting it out? Based on the pics, the unit doesn’t need much work and could be rented out for around $2,500. That would cover much more than a mortgage and give a good return. Factor in ANY continued positive growth in the market and this is a no-brainer.

    • That would seem to make sense, but there could be a numerous reasons why they don’t want to hold it:
      1. They aren’t in a hurry to move but are willing to sell it at a very aggressive price if someone is dumb enough to pay it;
      2. Work has sent them elsewhere and don’t want to deal with the hassle of being a landlord;
      3. They need more space (having a family?) and need the liquidity from this sale to purchase a new place.
      4. Lenders charge a high interest rate on a second property, due to the riskiness associated with owning multiple homes (ie. more likely to default if you have two properties, since you’re not living in one of them).

Comments are closed.