Good Deal or Not? “Don’t dally!” edition (reader request)

6009 5th Street Northwest

This house is located at 6009 5th Street, Northwest. The listing says:

“Sold strictly “As Is”. Great opportunity to customize this spacious home. 3 finished levels, central air conditioning, gas radiator heat, freshly painted, refinished hardwoods, recreation room, large backyard with storage shed, ceiling fans, alarm system, first and second floor den, fireplace. Close to shopping, schools, parks and public transportation. Don’t dally!”

You can see more photos here.

This 6 bed/1 full bath/2 half baths is going for $399,999.

30 Comment

  • I LOVE that the window casings and the like are unpainted and the floors look level and in good shape. Give up a bedroom or two in exchange for a bathroom and some closets space and finish the basement and that’ll be a great house.

  • Not sure if good deal or not, but this price is in many 1st time buyers price range. Really not many homes at this price around. The bones seem solid. The location is to far north for my liking.

  • justinbc

    This one is for the folks who always proclaim there’s no “affordable” housing in DC. Granted, that word has different meanings for all, but I think this would almost certainly qualify. ($241 / sqft, not including the basement) Doesn’t appear to need too much work (although strangely no kitchen photos), but has major upside potential if you want to invest some equity into it!

    • This is priced to pique developer interest. No first time home buyer is getting this.

      • justinbc

        That response is seriously overused on this site. Not every home gets bought up by developers, there are many areas, streets, etc that they just aren’t interested in.

        • “Not every home gets bought up by developers” … right, just the ones that are a good deal!

    • For somebody whose income isn’t and likely won’t ever approach 6 figures, buying this and still having cash on hand for repairs is a tall order. For a first-time homebuyer stretching to be able to swing the down-payment and mortgage, there are a few better deals in this same neighborhood.

    • Wowie, a semidetached house thats noit walkable to metro, in an area with schools that even DCUM boosters won’t boost about. for only 400k plus whatever it costs fix up.

      Yes, if there are people saying that folks with incomes of 80 to 100k can’t put a roof over their heads within the district, they are of course wrong.

      However most actual working class folks will pick PG over this, I would guess. Any middle class singles will pass on it. And any middle class families will pick a longer commute to better schools (I don’t know the crime stats, so won’t comment) I do not know that this is overpriced for the market, it may not be – but I think the above comment misunderstands the nature of the affordability problem around here. For the poor its about a roof. For the middle clas young its about a place walkable urban place/transit oriented development. For the middle class its about decent schools within a reasonable commute.

      I wonder what the real estate market would have to look like for a semi with this level of accessibility to metro and downtown would have to be for this house to be 600k “as is”? what would prices in more convenient neighborhoods have to be like then?

      • justinbc

        Right, but that’s the problem. Everyone wants Metro access but doesn’t want to pay for it. Then whines that they can’t afford “anywhere in DC”, while completely ignoring plenty of neighborhoods in DC that they COULD afford but there just aren’t enough trendy bars there.

        • +1 million

        • People want not only Metro access but low crime and in some cases decent schools. Your equating Metro access to “trendy bars” is insulting.

          • This house could be attractive to a family that’s already won the charter lottery. It’s just a few blocks to Captial City, a great school that goes from 3-year-old preschool through high school, and less than a mile to Washington Latin jr high/high school. It’s not that much further to the future home of DC International, the jr high/high school that several bilingual charters feed to.

        • Metro access is too costly, because its too scarce, because both the metro system and the regions housing were built when the metro area is smaller, and more people wanted the autocentric lifestyle.

          There are two issues here A. Why some people head to the suburbs. If you are living a lifestyle that’s STILL mostly auto dependent, because of lack of metro, and because of lack of amenities within walking distance, why not move to suburbs that have advantages in schools, public safety, etc? B. Why people leave the area. people with college educations tend to expect to live a middle class lifestyle. When they can’t – when they either have to live in a tiny space, or a decrepit space, or live in an area with problems with public safety or schools (if they are parents) or lack of access (if they are non-parents) then they feel they are not getting what they should.

          Now, I do not think there needs to be an affordable housing program for people earning 80k and above. I do think that it makes sense to question the many zoning limits and regulations that make it harder to build new housing supply in close in and metro served locations. I also think that people’s complaints are understandable and not mostly either narcissism or racism. Add to the spike in housing prices, the fact that civil servants have gotten zero or minimal COLA’s for a long time.

          • Amen. If I was going to pay $400K and live that far away from anything in the city I’d actually be interested in, I might as well live in Alexandria and drive in. It would be faster and safer and frankly cheaper when it comes to taxation.

          • +50000. As expensive as housing in DC has gotten, IMO people are not at all unreasonable for expecting to get something for all of that money. If you want them to pony up almost 1/2 of their salary in rent/mortgage, you’d better have something to offer-metro access, a nice sized place, some amenities, proximity to shops/bars/restaurants.

  • Great neighborhood. It is quiet and has a suburban feel. I live in manor park right up the street. If a first time home owner doesnt jump on this an investor will. They will drop 30-50k in work on the home then relist it for 650,000.

  • jim_ed

    Good enough deal. Quiet neighborhood, 5 blocks from the Walmart spurred redevelopment on Georgia and the eventual streetcar line.

  • I’m willing to be it’s already gone… There are probably a string of foreclosures that are going to be getting listed some time soon, but they create bidding wars. Finding key places like this are also such a long shot because prices like this mix with scammy foreclosure listings as well. Most unique opportunities like this don’t even make it to the market before they are sold. I found my foreclosure years ago by tracking down specific realtors that handle sales of bank foreclosure listings and then calling them regularly to find out what they had coming to market. Being first on a contract is key to finding a unique sale opportunity.

    • Agreed. I bought mine through the FannieMae HomePath program. Despite their policy of only accepting offers from owner-occupants for the first two weeks on the market and not opening it up to investors until after that, I almost lost out to two different investors who falsified their documents (one owned 30 other properties in the DC metro area and the other had bought another house through the same program within the past month. Oops.)

  • Nice house & great price. We were in the market last year and looked at some houses in this area. Good deals but we could not live with that awful radio tower hovering overhead. It’s an eyesore.

  • How is this 6 bedrooms? I’m guessing that’s a typo (redfin has it listed at 3 bedrooms).

  • Kind of odd how the back appears boarded up in the basement; that could cost a bit to fix. Also this is kind of in a dead area (at least right now – it’s not horribly far from Takoma Metro or Walter Reed).
    Related question – why isn’t there a Metro infill station in the works for Kansas Ave between Ft Totten and Takoma? It would certainly help spur redevelopment of all of those old warehouses in the future.

    • Neat question / good point. Much better than my metro pipe dream … I think they ought to take the yellow line up to Silver Spring, with stops near Missouri (or Kennedy?) and Walter Reed. 🙂

      • Sure – I have lots of things on my Metro wish list. But the NY Ave station was completed in just four years and did not require any new tunnels/tracks, so in theory a Kansas Ave stop could be done relatively quickly/cheaply.

    • The answer to that probably has to do with the actual placement of the existing tunnel. An infill station would have be built somewhere along the existing line and there may not actually be a sensible location. I can’t find any maps that show the actual routing of metro tunnels so I’m not sure what the options would be.

  • The 63 bus runs down Fifth Street, stops pretty much right in front of this house, and will get you to the Takoma Metro station in about six minutes. Just FYI for all you fretting “OMG there’s no Metro!”

Comments are closed.