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Good Deal or Not? Large Corner Home Edition

by Prince Of Petworth December 12, 2008 at 1:00 pm 13 Comments

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This home is located at 1601 8th Street, NW:


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The flier says:

“This is an excellent opportunity to buy a huge property on a corner lot in historic Shaw. Property is in solid condition and is a very attractive investment. It had been leased most recently for $3,200 per month (6.5% Cap Rate at asking). Finished basement. Blocks to local restaurants, Logan Circle and downtown.”

More info but sadly no photos can be found here.

It’s obviously a tough call without photos but this does seem like a big house with lots of potential. Does $595,000 sound reasonable?

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