Thurs. Afternoon Rental Option – Petworth

1317 Shepherd Street Northwest

This house is located at 1317 Shepherd Street Northwest. The listing says:

“Totally renovated all new upscale construction Parking Private Patios Modern open floor plans with large living areas Original brick exterior New roof, plumbing, electric, framing and HVAC equipment Blocks from Petworth and Columbia Heights Metro stops, restaurants, shops Stainless steel appliances Granite counter tops Keyless entry W/D in unit COME SEE AND RENT! $45 App Fee per Adult.”

You can see more photos here. Ed. Note: This is the building that was recently converted from a school that we looked at a couple of weeks ago.

This 2 bed/1.5 bath is going for $2,850/Mo.

13 Comment

  • epric002

    those photos are awful.

  • Super lame! Someone bought this condo for the sole purpose of renting it out. :-/

    • gotryit

      why is that lame?

      • Because a 3/2.5 in this building just sold for 540K. Assuming 10% down, the PITI on that place is 400 bucks less than the asking rent for this 2/1.5. The 3/2.5 is 3 stories and has its own patio, too.

        It’s just a terrible deal.

        • PITI on 486,000 is more like 3200/month. $2400 mortgage. $250 PMI, $286 Condo Fee, $275 RE taxes.

          If you did 20% down, you may be closer, with $2100 mortgage, $286 condo, and $275 RE taxes, but that is still $2661.

          Point stands though, this is a bit absurd. Only reason it sold for $540,000 is because it is 3/2.5, not 2/1.5.

    • This unit is owned by the original owner of 1317 Shepherd and was part of the deal when the proprty was sold to a developer. I’ll bet they had a part in writing the condo association by-laws so as to allow them to rent their unit… Either way the unit is overpriced.

  • They’re joking, right?

  • Over $2,800 for two beds and one bath in Petworth?!?

    I live in the neighborhood and love it, but this is insane.

  • I am not certain who is paying $1400/bedroom in Petworth. I live here too and love it, but my 15-year mortgage on a renovated full rowhouse is only $2800…

    Also, if the person who bought this ran their numbers and only saw profit at $2800, they are going to be sadly mistaken, and lose a lot of money.

  • Yea, deff asking too much imo

    i was also expecting more from the reno
    it looks halfassed in som epictures
    as well as some of the finishes looking slightly heap

  • Nuts! In any world, at any time – still f**king nuts!

  • I can attest to the fact that these guys (Fairmont Developers) do really excellent work and stand by their properties. In that regard, they are a significant anomoly (a positive one) in DC. That said, I have no reference points for this rent. Wow! If I knew at a 2 bed/1.5 bath could go for $2850/month, I might consider moving to the woods and renting my 3 bed/2.5 bath in the same neighborhood. Interesting info… Thanks for sharing, PoP.

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