Good Deal or Not? “private double balcony” edition

520 N Street Southwest

This unit is located at 520 N Street, Southwest:

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The listing says:

“Your nest in the trees! Private double balcony. Efficiency with loads of closets. 2 BLOCKS TO METRO. Indoor Pool, workout area 24/7 security. Rental covered pkg available. Sales price inc underlying mortgage bal $9702. (124.02 mo.) Coop fee inc all utilities, cable, internet, property taxes. Ask gatehouse for entry into bldg.”

You can see more photos here.

This studio is going for $145,000 ($552 monthly fee.)

11 Comment

  • Co-op? No thanks.

  • Does the cat convey?

  • Co-opts are great, not for everyone but great. This is a good deal.

  • Living in those SW co-ops is going to become harder and harder and so is selling them. Most of the buildings down there are already old (~45-50) and have reached an age where maintenance is ungodly expensive, which is why you pay more for your monthly co-op fee than you do for your mortgage.

    • As opposed to the 100 year old buildings in DuPont or Adams Morgan or the 60 year old buildings in Upper NW? Well managed buildings of any vintage with decent reserves can adapt to changing needs over. Time.

  • That’s also the hottest/muggiest part of town.

    • Really? I would think it’s cooler and breezier by the water. I work down by the Navy Yard and notice a temperature change when I get down there.

      • Compared to what? I live in Mount Plesaant. To me, anything below U Street is pretty muggy, but when I go to SW in the summer the air feels even more oppressive, probably because of the direct humidity from the river and the flatness of the land.

        • I live nearby and I would say it’s more humid (and lots of mosquitos) but not significantly hotter. There’s a fair amount of green space, which contributes to some nice breezes so it feels cooler even if it isn’t.

          It can be a degree or two warmer in the winter though, which usually means we get less snow. That could be a pro or con.

          Seems like a good deal if someone wants a studio. I wonder if there are restrictions on renting these units out–I imagine that would really depress the price, since most people don’t want to live in studios forever and would prefer the option of renting them out eventually.

        • Compared to about a mile north of there, but I used to live near Mount Pleasant and always felt that area was hotter because it was further inland.

  • I used to live in that building and if you don’t mind metroing to bars for now it is actually a pretty good deal. Co-op fees include just about everything (cable and internet). There is a pretty nice gym, garden, rooftops, views, indoor pool, 24 hour front desk. It is right next to the metro, great Safeway, and quiet street. The neighborhood is older and not for everyone but development is happening…and there is always Cantina Marina.

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