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GDoN “Location, location” edition

by Prince Of Petworth November 9, 2015 at 12:40 pm 24 Comments

1830 H Street Northeast

This house is located at 1830 H Street, Northeast. The listing says:

“Location, location, close to the exciting H Street Corridor, hard wood floors, new hot water heater and furnace, large garage, sold as is cash or conventional. Transportation close including the new H Street Trolley, shopping and amenities,Safeway w/Starbucks golf course minutes from downtown. Sold As- Is needs work.”


You can see more photos here.

This 2 bed/1 bath is going for $270,000.

  • Anonymous

    Located right next to an abandoned stadium and its adjoining parking lots, and a semi-functioning Metro stop.

    • Kingman Park

      What is this stadium you speak of?

      • Anonymous


        • Kingman Park

          I think you misunderstand the meaning of “right next to.”

  • Emmaleigh504

    I don’t know if a good deal, but I want that cabinet!

    • textdoc

      Heh, that’s what I thought! (The one with the curved glass, right?)

    • ET

      My thought as well.

  • well

    On the one hand, it’s nie impossible to find a house for under 300k in the city. On the other hand this is tiny, inconvenient, needs a ton of work, and on a really depressing looking street. To get this place in liveable shape you’re looking at least 100k. For 370k I think I could find 800 sq ft somewhere far more attractive.

    • kittycatbob

      Those are my thoughts exactly.

    • Yeah I would frankly just rather buy a condo somewhere nicer.

  • ZetteZelle

    I’m delighted that they include a photo of my midwife’s office as a neighborhood amenity!

  • SF

    Well guys, this is what a good deal looks like. Your mortgage is going to be around $1600, there’s a lot of potential in that basement and the garage, and it’s a brick structure ready for some sweat equity. The neighborhood isn’t the best, true, but redevelopment of Benning Road is on the horizon and the Hechinger Mall is going to be redeveloped sooner or later. Very unlikely that this would lose money and (barring a huge financial downturn) a very good chance it will be worth much more in a few years.

  • Gregor

    Hardwood floors AND hardwood windows, oh la la!

  • Anonymouse

    The price is way too high, but that makes sense because it is about to go into foreclosure. A newly renovated space in that area would probably sell for around $375/square foot, or about 300k. It probably needs at least 30k worth of updates, and those would merely be cosmetic. What condition is the roof in? What about mold? Electrical?
    If you didn’t mind the neighborhood, you could pump $100K into the space and make your dream home with a yard and parking. But for investment potential, I would pass.

    • SF

      At a certain point it’s going to be speculation without seeing it in person, but I’m curious– if this is “way too high” what would you consider an appropriate price for this? I haven’t seen anything –2 BR or otherwise — for less than this in quite some time. Even in Carver.

      • well

        In that condition? 200k or below. Realistically this will take at least 100k to rehab decently.
        At this price/size your comparison is going to be mostly condos. If you search for condos that cost under 375k (price + reno) and over 800 sq st you’ll see you actually have a lot of options in DC. Unless you really, really want a house and that’s all the money you have this place doesn’t make much sense.
        The uncertainty also highlights why developers are really doing the city a favor. There is a lot of risk with properties like this and it requires a lot of expertise, making it hard for consumers to do rehabs alone. Add the difficulty of financing and it’s near impossible. Without developers (“flippers”) to renew the housing stock these places would just sit. Indeed big developers who work on a lot of houses typically do a great job rehabbing, it’s individual homeowners that are more often guilty of code violations.

        • JJ

          I live on this block and larger renovated homes have already gone for 385-425. We bought for slightly more but the house was in slightly better condition. We put in around 35k and probably need to do another 15 more at some point. This is a nice block surrounded by a pretty sketchy area but its incredibly walkable and close to 295 which makes getting out of the city pretty easy. If you have the time and energy this is a good deal. I’m shocked its only 800SF I think that might be a mistake I’d put at closer to 1000.

        • SF

          200k or below– you’re dreaming. And although we haven’t seen this property in person, $100k is a WILD renovation figure to throw out as an estimate, especially for a place as small as this. For condo comparisons you’re leaving out associated fees and the likelihood that a condo at that price in another neighborhood doesn’t have a lot of room for appreciation.

          To me this looks like the rare property that a person can actually buy and rehab over time– something that the flippers you are so fast to praise have made almost impossible in present day, leaving shiny new poorly finished houses that only the wealthiest can afford.

          $270K West of the river in 2015– this is one of the better deals GDoN has featured in a while.

          • anon

            +1. This is a good deal. Why anyone would dump 100k into this place is crazy. You could easily clean it up on move in and fix up the kitchen and bathroom over time.

          • well

            I’m guessing you have little to no experience with renovations or contractors.

          • SF

            @well very wrong on both counts. I think you and I just have different approaches and different ideas of what “renovate” means.

    • a_w

      This place renovated should go for $400/ $425 on a good day.

      • well

        Ha! Not a good day for the person buying it at that price.

  • How did I not know there was a Safeway with a Starbucks golf course so close to the H Street Trolley?


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