GDoN? “Fixer upper/ Bring Flashlight/ NO Lights” edition

1918 Lawrence Street Northeast

This house is located at 1918 Lawrence Street, Northeast. The listing says:

“Turn this property into the home of your dreams. Great location, location , location. Property is one mile from the new shopping area, Starbucks/ Busboys&poets/ Wood burning fireplace/ walk out Basement/ sep dining & kitchen area. Sunroom to L BR. Great Hrdwd flrs/ Original fixtures in some areas. Hugh yard! ( .150)Needs work/ Fixer upper/ Bring Flashlight/ NO Lights/”

1918 Lawrence Street Northeast inside

You can see more photos here.

This 4 bed/2.5 bath is going for $330,000.

30 Comment

  • Bring flashlight, no lights? Oh boy. I mean, even if you *could* fix the place up, how are you going to get rid of the ghosts that this place no doubt has?

    Whatever, I guess it’s all worth it for the “hugh” yard. You don’t see those too often. Good Deal!

  • Do the “original fixtures” include the pencil sharpener?

  • justinbc

    It might technically be worth it based on nearby sales, but gods help anyone tackling this project.

  • cape cod? I don’t think so

  • Godspeed. I have no concept of what this would take beyond the cosmetic (which is a total gut). If it is possible to rehab, I don’t know if it would end up being a good deal.

    • brookland_rez

      It’s a good deal. You could do a complete rehab for $100k-$150k. Comps for rehabbed homes are $600k-ish. A developer will likely scoop this up in an all cash deal.

  • Amazing pics. Do not buy this house unless you are a developer.
    That said, it will probably go for more than this and sell in 6 months for around 850k.

  • “Needs work” is the understatement of the day!

  • This is the ultimate “tear down” (and watch out for the rat families living in basement). UGH

  • This might be a tear-down. It clearly has extensive water damage, and there are not too many lots to be had in the city right now.

    It would be cool to drop a modern pre-fab home into the neighborhood on that lot.

    • This is definitely a situation for a developer though and I don’t really disagree with the notion of this being a tear-down but can a developer do that and rebuild and still make money. They can only build so much or they limit the pool of buyers willing to pay so much for that area. Tricky.

  • HaileUnlikely

    Glad this was featured. Looks reasonably similar to what I bought a few years ago, though mine admittedly did have lights. The large crack in the wall in the basement makes me nervous about the integrity of the foundation, though. I’d probably want a structural engineer to check out the foundation here – if somebody smarter than me was reasonably confident that the foundation was sound, I would have bought it and fixed it up (for my home, not to flip) if I were still in the market and still single.

    • Pablo Raw

      Definitely the job for a structural engineer. If it’s an old crack and it’s settled, things may be ok, but who knows what kind of effect this had on upper floors. 10 years ago, I thought a guy was crazy for paying for a fixer upper in Columbia Heights 250k (3 story + bsmnt )

  • Aglets

    i dream of living in a craftsmen bungalow. but not this one.

  • houseintherear

    This is the way to make equity, folks. Get a good home inspector, an FHA loan so you can put all your cash into rehabbing the place, and you’ve got yourself a livable piggy bank.
    That being said, I did that 6 years ago and once was enough for one lifetime. 🙂

    • brookland_rez

      FHA will never approve this not even with a 203k loan. A house has to be livable for FHA to approve.

      • No it doesn’t. That’s the point of a 203k loan.

      • houseintherear

        It depends on the situation. One way to do it is to get an FHA low down payment loan and use any down payment savings to rehab… there are many other ways. The 203k loan language is very, very confusing, IMO, so it’s hard to tell what you can get until you do some in-depth research on the actual property and with a loan specialist.

        • But why would the seller want to deal with all that if there’s a developer with an all cash offer on the table?

          • houseintherear

            Well the seller wouldn’t deal with any of it, the buyer would. And cash on the table means next to nothing except that it’s a “solid” offer instead of being contingent upon the buyer getting financing. There are no financial benefits to a seller getting a cash offer. Btw, Plenty of people have bought fixer-uppers, and still do, so it does happen. And it’s worth noting that some people would not sell to a developer, myself included. 🙂

          • I know there’s no financial incentive, but the deal gets done quicker, and as you noted it’s a solid offer. The seller’s ability to get financing is often a huge question mark when you’re talking about properties like this one. I also have a feeling someone who let their house get to this state doesn’t care who buys it. 🙂

  • Quotia Zelda

    Ugh, unsub house.

  • “Bring flashlight”??
    How about “bring wrecking ball”?
    This is about the going rate for a teardown in this area.

  • Even the livable rooms have a murder house vibe.

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