Rent Prices Got You Down? How ’bout a “$175 / 2br – Student Apartment”

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by Prince Of Petworth September 12, 2016 at 2:45 pm 12 Comments

Student Apartment

Hahaha thanks to Justin for passing on this gem from Craigslist:

“$175 / 2br – Student Apartment (DC)

Buy this spacious 1988 O’Day 272, own a magnet apartment and live in the Marina and area of your choice. Stove, AC, water pressure. Sails, covers, Bimini, cockpit cushions interior and woodwork very nice. Perfect for 2 and a small dog. Very nice condition. Westerbeke diesel. Fully functional. Think outside the box. Own it for $5300 OBO (See NADA Blue Book value). Currently at Yankee Point Marina @ $175/month 1.3 hrs south of DC, will deliver to marina of choice.”

Marty

>Own it for $5300 OBO<
I'm not a boat person, but that doesn't seem like a lot of money for a boat that is big enough to (arguably) live on.
- Anon
  
  As they say: “the happiest two days are when you buy a boat, and the day you sell it”. I, too, am surprised that it’s that low, but I surmise that there’s quite a bit of deferred maintenance that costs significantly more than the listed price. Boat ownership isn’t for the faint of heart.
  - bll
    
    my husband grew up having a boat, and I recently learned that it stands for “bail out another thousand.” $5300 doesn’t seem terrible, but as anon noted, there are lots of hidden costs.
***

I remember when I lived in LA people would list similar “apartments” for marina parked boats, which technically wasn’t a legal 7 day a week residence, so the ad would creatively position it as “for someone who travels a lot” or “only needs a place to stay a few days a week.”
Boats on Boats

Ha! Blue book value for a boat, good joke. This post is f(ph)ishing at it’s finest.
Anon

2.5 hours from Reston without traffic mean 4 years for the daily commute.
PetworthGuy

The value of any boat is really in the motor – all the rest is fiberglass (cheap). Given its a late 80’s sail boat with a trolling motor at best, $5300 seems fair.
GonnaNeeDaBiggerBoat

Boat Owner Here: Even if the vessel doesn’t move, the maintenance, both preventive and regular, will be considerable on a boat that old. A marine survey (think home inspection for a boat) will be $500 alone. I have not checked slip rates in DC recently but I am willing to bet Gangplank Marina’s monthly rates are going to be similar to renting a 1 bedroom. And once the Wharf project is done, they’ll likely double. And an often overlooked factor of living on a boat, everything will constantly be damp (regardless of cabin tightness) and you are going to be cold all winter living in a cabin that is uninstalled and not intended to be used in the winter. And then there is the added hassle of leaving a boat in the water during the winter (pipes constantly frozen, potential engine damage, etc). My personal assessment on value for that boat is $3-$4k. But hey, what do I know?
- GonnaNeeDaBiggerBoat
  
  uninstalled = uninsulated
NorthByNE

As someone who has lived on sailboats for months, i can tell you that a 27 footer is going to be tight and impractical for most city dwellers. Each “stateroom” is probably just big enough for a mishapen double bed, with no storage for clothing or personal effects. You will have a wet head, where you shower using the sink faucet in the same space as the (pump operated) marine toilet and sink.

Oh, and any liveaboard slip in DC (if you can even find one) will cost you close to the price of studio apartment in a decent neighborhood downtown.

Sailboats are good for one thing…sailing. They are terrible housing and even worse investments.
TropicBird

As a sailboat owner, this is a good deal – O’Day’s are great boats and handle like a dream. It would be cramped for 2 people and a dog, something 35-40 feet would be better, but you could spend weeks exploring the Chesapeake in it as long as you stop once in a while to restock the cooler, take on water and flush the holding tank. Wonder if it has heat/ac, and hot water? Slips are priced per foot but the Gangplank would be a lot right now, if you could even get a slip. Student housing?! Wonder if the student they are thinking of attends Washington College, or St. Mary’s.
Angry Parakeet

Few marinas allow “live-aboards.” When I left the Gangplank 10 years ago the wait list was 8 years for a live-aboard slip. In addition to the cold of winter, imagine being awakened through the night with ice grinding along the hull. Quite a sound.

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