GDoN? “ideal condo alternative” edition (reader request)

1616 Newton Street Northwest

This house is located at 1616 Newton Street, Northwest. The listing says:

“Situated in the Heart of Historic Mount Pleasant, this 1200+ sq. ft., 3BR 2BA TH with parking is what you’re been looking for! Beautifully renovated with stunning finishes, this home is an ideal condo alternative. Enjoy small town charm in the city, in one of Washington’s most eclectic neighborhoods. Another Quality Renovation by KL Development LLC.”

You can see more photos here.

This 3 bed/2 bath is going for $725,000.

22 Comment

  • “condo alternative” for 725k? woof.

    • Row house condo conversions often include a large top floor / penthouse condo in the $700K range. The other units step down in price as they get closer to (or under) ground level. So, yeah, it is an alternative.

  • How is anything a “condo alternative” at $725K?

    • Right? I love Mt. Pleasant but if I had $725k, I’m not debating a condo.

    • Probably because 2 bedroom condos are approaching this price in many neighborhoods. Here you get a single family home with a deck/private parking without hassle of being in a large building?

      • Some would prefer being in a large building. As someone who has lived in large condos in large buildings, being able to get packages delivered securely to the 24 hour manned desk is certainly a plus. So is never having to worry about security – as none of my windows are accessible to thieves (while the back door in this house, like in many others, looks like an invitation to break in.) I don’t have to deal with maintaining heat and hot water when it breaks – management takes care of fixing them when they break. Ditto with exterior maintenance and landscaping. Some prefer one-floor living – I know after decades of living on one floor, in some places with more sq. ft than this house has, I would have to get used to having bedrooms upstairs again, and I may decide it is not worth it when I move again, as I like one-floor layouts. Better when you get older in any event. Some complain about monthly fees, but in old buildings with one boiler, it covers your heat and hot water, which you still have to pay for in a house, and all the exterior maintenance issues, and, if you are in a coop, your real estate taxes.

  • HaileUnlikely

    Note that stated square footage includes basement, above-ground square footage = 840. I don’t particularly care for most of the finishings, but f* it, to live there, I’d buy this if I could afford it.

  • nightborn

    Looks great! I think this one will go fast. Too bad there’s zero chance of me being able to swing a mortgage on a 700K+ place…

  • A renovated 3br house in MtP for $725k? Sure it’s a little small, but this seems like a great deal.

  • I went to the open house yesterday and while I think it’s a nice renovation it doesn’t appeal to me.
    There is a big kitchen but no dining space, small bathroom with overly big vanity, and the 3rd bedroom (space) is in the basement. Also a 6′ solid wood fence on both sides of the back parking space which seems unnecessary.
    But I expect there will be a contract on it soon…

    • Someone without a car may appreciate the 6′ fence and decide to enclose it and use it as an enclosed patio giving them a larger backyard.

  • The whole “condo alternative” thing is dumb. Because both condos and houses come in small and large sizes, with small and large prices. Not everybody prefers a house anyway.

  • You all do know what ‘alternative’ means right?

    I get the realtors point. You can purchase a two bedroom two both condo in a hip neighborhood below Florida Ave. or move uptown and get a small row home for close to the same price. It doesn’t sound all that crazy to me–many people who have rented in Georgetown, Dupont, Logan for 5-8 years, and don’t read blogs like Pop, aren’t as familiar with what their money can get them in other neighborhoods. That’s not to say the condo market in those ares aren’t strong and people prefer condo’s in a city, we know that many do.

  • Nice and new in a great neighborhood, but how do you live on that first floor? If the square footage on the top two levels is 840 as some have suggested, the main level is what, half of that? I’d rather a 1250 sf condo on one or two levels

    • HaileUnlikely

      I have a friend who owns a structurally identical house on that block. It is definitely two above-ground floors plus a basement, 420 square feet each. They have raised a family in that house and have gotten along just fine even though it’s pretty small. My point was just to call out the stated size was misleading.

    • Where are they building 2 bedroom condos with 1200sqft at that price range and are not conversions?

    • That’s obviously your preference, but 840 sq ft of above-ground living area is completely adequate for many people in response to your “how do you live” question, particularly when children aren’t involved. People who are conditioned to living in true urban environments and have lived in smaller apartments and/or in more expensive cities can absolutely make 840 sq ft work fine especially when you have a basement, as well. Our place is bigger now, but previously in DC we rented 890 sq ft on two levels (and no basement) for years and that seemed absolutely palatial compared to our apartments in NYC and Boston.

  • I have no idea why they listed this as a “condo alternative” as I think this targets the wrong demographic. This is probably better for someone who is set on a house, but considering this vs. something bigger in Petworth/Trinidad/Hill East.
    Realtor incompetence aside, I think this is a great deal and will sell for over listing. 725 in Mt Pleasant is unheard of these days.

  • This will go under contract very quickly.

  • I also expect this property to go soon.

  • Nice renovation in Mount Pleasant, seems like a pretty good deal. I think it’ll absolutely go for that price or higher. There are buyers who would choose a small rowhome over a condo any day.

  • Great neighborhood and I like the house. GDoN – I’m a money guy so I think….what would the market rent be on this place in case you decide to move and want to keep in your portfolio as opposed to selling. Out of pocket you’re about $140,000. Borrow the rest and the p+i is approximately $3200 a month plus taxes insurance etc…When do you see the return on the $140,000 and if you rented it out would you cover the $3200 plus taxes / insurance etc…Also, what do you predict the value to be on this place in xx months?

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