GDoN? “Victorian townhouse in a fantastic location” edition

51 R Street Northwest

This house is located at 51 R Street, Northwest. The listing says:

“Victorian townhouse in a fantastic location, ready to move in but could use a little TLC. Finished basement with a kitchen and full bathroom, front and rear entrance. Nice deep lot with plenty of room for 2-3 cars in the back. Offers due March 3rd at 5 PM.”

You can see more photos here.

This 3 bed/2.5 bath is going for $639,000.

12 Comment

  • Looks like a renovation that ran out of cash flow. A lot of potential.

  • Aglets

    I love that block. There’s something gloriously magical about it. i can’t even describe it other than it’s like a perfect little jewelbox of architecture.

  • This is a great deal, I assume it will go well above asking. Would be a good investment property for someone with some capital. $10-15k worth of spruce ups and rent the basement for $1500 and the main house for $3000 and you would probably have positive cash flow, not to mention the appreciation potential in the neighborhood.

    • Yea, unfortunately I’m afraid that this will be bought for all cash by a developer. Put in ~50k worth of work and put it back on the market for 900k in 4 months. :-/

  • I don’t know. I’m not sure there’s enough exposed brick.

  • This is an great deal–I’ll be surprised if it doesn’t go for over asking. Keep in mind that B’dale is a tight market, so there aren’t a lot of livable houses on the market where you don’t pay premium for a flip job.

  • nightborn

    The price seems low to me!

  • This seems way underpriced. It needs work for sure, but out in 80k and you have a 900k home

  • I agree it is a good deal but I think the price to renovate that is well above $10-50K. That needs a lot of work. Then again even if you put $150K in it as a gut job, you’d be making money on it.

  • Just went to the open house. Not a single straight line in this house. A strange smoked-glass slider on the bathroom door right at the top of the stairs won’t even stay closed due to slant of the floor. Priced right only for a developer who will turn it into 2-3 $700k+ condos.

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