GDoN? “awaiting your personal touch” edition

1424 Montello Avenue Northeast

This house is located at 1424 Montello Avenue, Northeast. The listing says:

“Good sized three bedroom house with three car off street parking awaiting your personal touch!”


You can see more photos here.

This 3 bed/2 bath is going for $399,000.

9 Comment

  • We are getting to very bland boxes in the $400k range in trinidad. I think this is a sign of something.

  • HaileUnlikely

    First, PoP, thank you for featuring something that is not a flip or a high-end home, outside of the new “Under $400K Friday” at that, and I’m glad to see this not go pre-market. Horrendous photos notwithstanding (can’t assess anything at all about the house from these photos), this appears to be livable for somebody not intent on gutting it and starting over, and it’s hard not to call $400K a decent deal for a house this size if it is livable and doesn’t have any major structural issues. One could spend well over $100K on renovations if they want to and still come out way ahead of what they’d have to pay to buy this from a flipper. Of some note, the previous owner picked this house up for $82K (yes, $82K) in 2009. I’m hoping an owner-occupant buys this. The price is probably too high for a flipper to buy it, pretty it up, and sell it as a single-family home; I suspect this will either go to an owner-occupant or turn into multiple units.

    • I wouldn’t say it’s too high for a flipper at all. A guy bought one near me for 412k back in October, took 6 months to renovate it and just listed it 18 days ago. Granted it’s still sitting, but it’s listed too high.

      • HaileUnlikely

        My thinking, which might be wrong, is that it’s too high for a flipper at this location right now, unless converting into multiple units. Sure, there are plenty of locations where you can buy for $400K and sell for $700K+; I’m not sure this is one of them. A recent flip of a comparably sized home up the street started off with the flipper buying for $295K and attempting to sell for $579K. After 5 months on the market they settled for $490K. Nothing in this vicinity has sold for over about $550K anytime recently, except for a much larger house on West Virginia Ave (which was a much larger house and not remotely comparable). I might be wrong, but I don’t see what, other than converting into multiple units, would net a flipper a large enough profit for them to bother (still room to make a few bucks, but unlikely enough to bother).

      • The info on prior sales is very interesting and shows the boom and bust of prices in Trinidad over the past ten years. Sold for $225k in 2005, then for $400k in 2006. Two years later, it was foreclosed on and the bank took repossession (likely because the buyer paid way too much, and couldn’t service the debt on what was a much worse rental market in Trinidad back then). The bank lists it at $150 in January 2009, and it takes six months to sell for $82k, almost half of list. Pretty hard to imagine something like that happening these days!

  • everything about this house is depressing.

  • Looks great considering the location, I don’t see what you guys are seeing *shrugs* I’d take it…If I could afford it 🙁 For a single parent of one, there are hardly any affordable homes (and rentals, if you want to live comfortably in peace) in DC anymore.

    • HaileUnlikely

      Also look in the Takoma area, specifically in that little quiet triangle-shaped area bounded by Eastern Ave, Blair Rd, Piney Branch, Aspen, and Georgia. There are a few unrenovated and unspectacular houses listed in the mid 300’s up there, and it’s generally a nice, quiet, relatively safe area. If you have a car, also consider the area over by 3 Stars Brewery.

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