Tues. Afternoon Rental Option – Capitol Hill/H St, NE

This rental is located at 624 11th St, NE:


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The listing says:

“Capitol Hill/ H Street Row House with parking. This beauty includes 2 bedrooms and 2 bathrooms, open floor plan and parking. Walk to restaurants on H Street or your job on the Hill.Your landlords live below in the English Basement apartment. Housing Vouchers welcome. Use L&F application. $40 per person application fee plus security deposit at time of application. Go and show.”

This 2 bed/2 bath is going for $3,200/MO.

12 Comment

  • Bad deal, imo. If you are paying that much a month, you might as well just buy a house around there. Sold in 06 for $550K, so paying for owners mortgage plus some.

  • Wow, I’m surprised it sold for 550K in 06. That sounds like an overpay in 06, yet obvioulsy isn’t when this house could prossible sell for mid 700 now.

  • I don’t think it’s a bad deal. You get parking with it too.

  • Unless they decided to offer this “election special” a month after the fact, I’d say this has been on the market for a while, and in a city where stuff can be taken off the market in hours, I’d say that = bad deal.

    Also, landlords live below in the English basement? Strange. Usually it’s the other way around.

    • Sounds like the landlord has some cash flow issues, perhaps due to a job loss or a medical issue. Not a bad backup plan. It beats losing your house in foreclosure.

      • Or they don’t mind living in a basement apartment if it means more rental income. I’d probably do the same thing.

        • You can probably come close to clearing your monthly mortgage payment with $3200 in rent. That puts you in a pretty awesome financial situation. It’s not a bad idea to advantage of the rental bubble. If rents start to go down, you just move back into the main part of the house.

    • You’re right. In the upper right hand corner of the listing it says “Listed 28 days ago | Last Updated Today.” Given my experience with renting through L&F I’d tell everyone to run the opposite direction.

      I’d also need some info about the size/layout of the 2 BRs and 2 BAs–no pics in the listing and no details. Red flag for me.

    • I am about to do this same thing. My tenant is moving out of basement apartment and I am plannimg to move into the unit and rent the main house out. This buys me time to find purchase a new home,.which then ill rent out.the basement and move into new home.

    • The landlords may also be older and not willing to deal with the stairs. The previous owner of my house lived in the basement rather than the larger owners unit because the stairs were too significant at her age.

  • Security deposit due at the time of application? Is that a thing?

    • I looked at an apartment earlier this year where I had to put down a “move-in fee” (non-refundable and in lieu of a security deposit) at the time of the application (along with an application fee) The management’s policy was to hold the check for three business days; you could cancel within that window and get the move-in fee back, and you’d also get the check back if you didn’t pass the credit/criminal screening. This was with a major property management company, but I’m not sure how common the practice is with others. (I ended up changing my mind within the allowable window and renting another place, where the management didn’t require security deposit until the lease signing.)

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