Good Deal or Not? Reader Request – Brookland Editions

by Prince Of Petworth February 12, 2010 at 1:00 pm 9 Comments

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This home is located at 1815 Jackson Street, NE:

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The flier says:

“Don’t miss this one! Very livable detached farmhouse on wonderful tree-lined block. Property shows well but needs work. Large rooms, beautiful wood floors, decorative fpcl in LR + huge finished attic! Property has CAC but no compressor. Property sold in Strictly “AS IS CONDITION”

You can find more info here and a mouse on house tour here.

A reader is thinking of putting in a bid so do you think $249,000 sounds reasonable?

And for comparison another reader requests 331 Bryant St, NE which is going for $415,000. (You can see a virtual tour here)

  • Matt

    The house on Bryant Street looked nice despite some of the odd cutouts, but $415K seems too much for that location. High $300K maybe? I’d be interseted to see what others think.

  • Raymo in LeDroit

    Love the yard. The house has great potential but a bit beat up, an obviously wet basement, no working heat and no driveway, 250,000 is too high by about 65,000.

  • Anonymous

    The heat on Jackson St. definitely works. In person, I would describe the interior as generally being in good shape, except for the kitchen; it obviously needs new flooring and appliances, at the minimum.

    The lot is huge and is obviously begging for off-sreet parking, but how do you add it? There is no alley access in the back. How much would it cost to regrade the yard and get a curb cut for a drivewar in the front?

  • andy

    as-is condition always makes it impossible to determine whether something is really a “good deal.” i am always so freaked out by that.

    • PetworthRes

      ha, freaked out by as-is condition? At some point, even if the house isn’t in “as-is” condition once you sign the papers any problems become yours. In the end I think every home sale is “as-is” unless you have a home warranty, which I don’t see very much except on new houses.

      I looked at the mouse-on-house tour for the Jackson St. house – it honestly looks really amazing for that price. I would say go for it – just get a home inspection so you know what you’re in for, and you can always back out of any disasters are discovered. I would expect there are some major repairs or upgrades needed since the price is so low, but it could be a good investment for someone willing to make some upgrades.

      I say overall a good deal.

  • Anonymous

    I like the Bryant Street house, though the kitchen looks cheap. I think it’s a fine location in terms of neighborhood and Metro access, but I’m not familiar with that block.

    The Jackson house is a good deal if you don’t mind caring for the yard and possibly fixing a flooding basement. Also it’s a trek to the Metro (unless RI Ave or 18th have decent bus lines)

  • UnderDog

    Stay away, as is condition means bad structure, and water damage underground. Needs about 250 k worth of work.

    • Matt

      As-is condition really doesn’t mean that. I agree that you’re taking on a risk with as-is, but as the poster above said, just get a thorough inspection done beforehand so that you know what’s in store if you buy the place.

    • JL

      Yeah- I would probably go with UnderDog and other internet opinions… Surely this is the best way to get information about a house.

      When I bought my foreclosure as-is, we had a structural engineer come and a foundation specialist come inspect the house. It cost a couple hundred bucks, and we got a full report diagnosing the home’s existing problems and a schedule predicting future problems and actions to be taken to fix them all.

      If you are serious about the house, it’s worth the less than one tenth of a percent of your overall budget to have a pro take a look.


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