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Good Deal or Not? “Wide open spaces!” Edition (Reader Request)

by Prince Of Petworth March 18, 2010 at 1:00 pm 23 Comments

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This home is located at 516 Buchanan Street, NW:


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The flier says:

“Completely renovated! Wide open spaces! HWFs, granite & stainless kitchen, custom finishes. Deck off the family room overlooks a landscaped lawn with flowering trees and convenient off-street parking for 2. Light pours through 3 skylights and transom windows throughout the upper level. Finished LL w/ enormous 4th BR, den, full bath & extra storage.”

You can find more info here and a virtual tour here.

The reader writes:

“516 Buchanan St NW just went on the market after month-long rehab, and I must say that the results really impressed me. I live a few doors down, and I’ve watched this house for the last couple of years as it went from rental property to vacant to rebirth. Prior to being rehabbed it had been on the market in as-is condition, and on at least one occasion it looked like it was going to sell as such. Eventually it went into foreclosure and was purchased for under $200k. The rear addition is new, and having watched the construction work I can tell you that the developer did much more than a facelift on the interior. I’ve been inside and the place really looks fantastic, and if I didn’t already own my house I would have been hugely tempted to buy the house before it was rehabbed and done the same job myself. I’m wondering what PoPville thinks of the job and whether it’s a good deal.”

What do you guys think – does $525,000 sound reasonable?

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