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Good Deal or Not? Super Fixer Upper Edition

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I’m super curious to know what you guys think about this fixer upper located at 1207 Kenyon Street, NW. This is one of the first total fixer uppers I’ve been able to find. The flier says:

“In “hot” Columbia Heights. Less than 2 blocks from Metro/Kenyon Square & Tivoli w/ movies restaurants, shopping, gallerys, Giant, Target, Best Buy etc. Use your creative senses to bring this old beauty to life. Hi ceilings and large pic windows, hardwood floors, molding, exposed brick, and HUGE! Have permits that are valid until June 2009 for demo and front yard. Have preliminary plans available.”

More details can be found here.

I don’t know how much a gut renovation costs but the “bones” of this home certainly seems nice and of course the location is killer. But given the needed rehab is $569,000 a good deal or not?

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