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GDoN “property needs some TLC” edition

by Prince Of Petworth August 24, 2015 at 12:45 pm 20 Comments

This house is located at 1316 F Street, Northeast. The listing says:

“A great investment opportunity in the H Street neighborhood. The property needs some TLC. Close to restaurants, bars, and public transportation.”

You can see more photos here.

This 3 bed/1.5 bath is going for $530,000.

  • ParkViewRes

    WOAH! Needs a lot of TLC, but if you can get one of those 203k loans it’s a pretty good deal. Big backyard. Looks like it had/has some major leaks. I give them props for actually posting a good deal of photos!

  • Kingman Park

    Hopefully whoever fixes this one does it right. There’s a real nasty popup a few doors down from this house.

    • The one close to the corner of 13th and F? I didn’t think that one was really close to completion yet, is it?

      • Kingman Park

        Yeah the one that is essentially a giant block that looks like will be 3 or 4 separate units. It’s not done but it’s close. And it looks terrible.

    • ucsddeej

      I hate that popup. They illegally parked their dumpster on the street (I report it every week) and couldn’t even bother to put the siding on straight.

  • Anonymus

    This is underpriced, even if it’s a complete gut job. Similar properties from what I’ve seen have been going for closer to/over 600k, especially with parking/yard.

    • Anonymus

      Well I misread that as SE and thought it was near the potomac ave metro (depsite there being no F street down there). Oops. Anyway, 530 seems ambitious.

  • HaileUnlikely

    It blows my mind that a house in this condition costs this much now. My house was in comparable shape or quite possibly worse, but was roughly half this price. I do not know this area well enough to gauge the relevance of comps 3-4 blocks away, but there is a slightly smaller, move-in-ready house on the 600 block of 16th St NE listed for less than this, and another slightly smaller nicely renovated house on the 1200 block of this same street just sold for less than this in June, neither of which makes this seem like what any sensible person would call a “good deal.”

    • textdoc

      +1 to “It blows my mind that a house in this condition costs this much now.”

      • Steve

        An owner can ask for any amount. Doesn’t mean he’ll get it.

  • Anony

    Smack dab in the middle of Metro No Man’s Land

    • Kingman Park

      But….but…the streetcar!

    • ucsddeej

      X8 to Union to Farragut North for me every day from around here – less than 30 minutes.

  • Anonymous

    I don’t think it’s a good deal. It’s a total gut, all the way from the asbestos floor in the basement to (likely) the roof. I’m gonna say $150k at least. So the real question is, “Is it worth $700,000?” Because that’s what it’ll end up costing someone.

    • anonymous

      I think its worth 700k. Heck almost every full gut job in Trinidad these days are listed at above 700k. The homes in between here and Trinidad goes for 850K and up.

    • ucsddeej

      Neighboring homes that have been redone went for 800 or so in 2012. It is definitely worth 700K after the reno.

  • SF

    Good deal. One of the few properties, especially in this area, that is livable and leaves room for a handy person to make incremental improvements. If the roof is sound this place could be rehabbed and looking good for ~75K (assuming the electrical, plumbing, and radiator systems aren’t in need of total replacement). No chance of getting into this neighborhood, and into this size of house, for less than this.

    • also anon

      I guess “livable” is a relative term since I wouldn’t consider this livable. It’s probably also a fantasy to imagine that the electrical, plumbing and major appliances are fully functioning. If someone couldn’t even afford minor cosmetic upkeep they’re certainly not taking care of their heating system.

      • SF

        Fair points. This is a tough one without seeing it… it’s not the insane price that everybody thinks it is though. Even if it needs a new roof and new systems it’s likely a good deal, providing that the buyer has funds to invest in the renovation.

  • ET

    I wonder if that fixture in the living room is original? I suspect the sink in the basement is. Seems a bit hefty for a fixer-upper but some flipper will get it I am sure.


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