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Good Deal or Not? “renovate & …” edition (reader request)

by Prince Of Petworth September 13, 2011 at 1:00 pm 45 Comments

This home is located at 506 7th St, SE:


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The flier says:

“Opportunity! Livable! Financable! Why let developer/investor purchase, renovate & sell for huge profit. Chance to design, renovate & select finishes to your taste. Sweet, charming federal awaits your special touches. Live-in & renovate at your own pace. Neighborhood comparables selling in the upper 600’s to low 700’s.”

You can find more info here and photos here.

The reader writes,

“The house next door sold for somewhere in the $600s a couple years ago. This is listed at $390K, and has obviously been set up as a bidding war. I’m curious what the peeps think it might eventually go for.”

This 2 bed/1 bath is going for $390,000 – what do you think it’ll settle at?

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