Good Deal or Not? “Nearly 4,000 square feet of pure charm” edition

2311 1st Street Northwest

This house is located at 2311 1st Street, Northwest:


The listing says:

“Nearly 4,000 square feet of pure charm in this 4 level Victorian townhome. Located in the highly desirable and convenient Bloomingdale area, this home delivers classic features of a real home: 14 foot ceilings with dramatic archways, original pocket doors, dual staircases, antique fireplace mantel, clawfoot tub, outdoor deck space and an attached 2 car garage!”

You can see a virtual tour here.

This 5 bed/2.5 bath is going for $730,000.

28 Comment

  • Lots of work to do on that one…whether it is rehab or renovated.

  • You could def. turn a profit on this one… With about $290-$350k on a 203k loan this could easily become a 1.4mil$ house after a solid year long project. The neighborhood (security) is a big concern for the investment though. Keep it a single family home though, don’t split it into condos, trust me.

    • justinbc

      This is above the limit for a 203K loan in DC.

      • Not if your down payment is $300k! haha.

        I was really just laying out the cost for a solid renovation, the person buying this should have a good amount of funding to get things right, this house will have a lot of issues to address to make it a million dollar listing.

    • I don’t get the “trust me” comment regarding not splitting this into condos. I’m guessing that this is exactly what’s going to happen, given the current state of the house. Developer can get a much higher profit margin if they put in 3-4 condos. (Not sure if the current zoning allows that, but even 2 condos would fetch more than the single house.)

    • Security…this is Bloomingdale…we have had some issues, like dude that was breaking into homes on adams st but they caught him and it turned out he was only doing it cause years ago he lived in the area. Other than that security is not bad at all.

  • justinbc

    Whoa, that place is huge! Although I wouldn’t call 3,400 sqft “nearly 4,000 square feet” anymore than I would say New York City is “nearly” in the South.

  • LOVE the woodwork and the original light fixtures, but there’s some scary wiring situations going on and why you would ever put cabinets OVER the kitchen window, the world may never know. That being said, it’s fairly obvious that this is going to be a gut job and for that space and a garage, it’ll probably sell really quickly.

    • When I read this I thought you meant “cabinets above the windows” and thought it might be odd but not a major offense. But you actually meant OVER the windows. Who would do that?!?!? That may be the single weirdest thing I’ve ever seen in a real estate photo.

    • Wow – I didn’t notice that either at first look. Makes you wonder what is holding that middle cabinet up…?

  • That bathroom gave me the shivers. I can’t tell if the walls in some of the rooms are warped or just need sanding, patching and repainting. Lots of exposed electrical wiring.

  • If an agent is going to provide a floor plan of the basement but not pics of it, can they just label the floor plan “Here be monsters”?

  • Did DC have some program to distribute free pepto-bismol pink paint a few years ago? I can’t believe how often we see it in these listings.

  • This is sort of too bad. It’s a great deal at this price, and the place has a lot of charm. But I think that other commentators are right, it’s far enough gone that to efficiently renovate it, it will have to be a gut job. Sadly that will cost it most of its character.

    What would be ideal is for an owner-occupant-diy-renovator to buy it. With the right appraiser it might just squeek by for a normal loan, and a good diy-er could make this place gorgeous.

  • this place could be the haunted house of 2K13!

  • This is a good deal considering a house down the street, that is a complete gut job without question, with an asking price of 750k just went under contract. This is on the northern part of 1st st which I like better.

  • This is around the corner from me.. It actually has good bones, but as you say will need major reno work. Security issues? Look at…. Bloomingdale is LOADS better than Columbia heights, Shaw, Ustreet. Was bad about 6-7 years ago, but those days are largely gone. I would say that this is a good opportunity for someone who wants a large fancy victorian single family home and is willing to invest some money and time in a period reno….and these sorts of houses aren’t coming onto the market much anymore. Unless somebody hates the way Victorians organized their spaces (a legit beef) I don’t think it needs a full gut rehab….just some major plaster/lathe work and probably a new roof maybe some skylights. But more likely a developer will buy it and then sell the 4 individual units for 300- 400K each. When McMillan goes in this place will be a 1.5mn dollar home and in a prime community. It is a GREAT deal for someone with patience and vision.

    • Well said–I have lived two blocks away for three years–agree on the real estate assessment (a great deal) and neighborhood security–simply not a problem. Had way more issues with security when I lived in Logan.

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