“Why is this so cheap?”

1440-w-street-northwest

“I know nothing about real estate, so I thought I’d see if anyone has any thoughts on why this apartment by U street is so cheap and has been listed for 41 days?”

TWO BEDROOMS in a most sought after area of D.C. close to metro, restaurants, shopping etc. Income restrictions apply. Coop fee includes maintenance, insurance, taxes, underlying mortgage and some utilities.

The 2 bed/1 bath is listed at $180,320. The operative words in the listing are “Income restrictions apply”.

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