This column in written by Randy LiVorsi, of the District Residential Group. A DC resident for 16 years, he is licensed in DC and VA. Randy holds a Masters in Organizational Management and Development and is a certified project manager with a current PMP. Each month he will dig into all things DC area real estate. He is also a General in the KISS Army, so get ready to rock and real estate all night, and party every day!
Thinking of buying but not sure what you can actually afford in the nation’s capital? This month features Part 1 of The Dig’s “What Can 500K Buy You in DC?” For the first part of this series I’ll be uncovering listings in the NW and NE quadrants of the city. October’s column will dig into SW & SE — right smack in the middle of the Fall 2018 market. Bookmark me so you can come back for more next month!
Criteria
- Max list price of 500K
- 400+ sq. ft. (square feet)
- For any condos, fee must be < $400
- Standard Sale (excludes potential foreclosures & short sales)
NORTHWEST
In Northwest, my search uncovered 63 listings. All condos — no fee simple (single family homes). No surprises there!
Let’s take a look at a few that I felt show some level of promise that all is not lost in terms of affordability in NW.
- Space: 0 Bed, 1 Bath
- List Price: $229,000
- sq. ft.: 400
- Price per sq. ft.: $572.50
- Neighborhood: Adams Morgan
Features: Large windows that allow plenty of light to enter and what looks to be a beautiful view. With a modest remodel of the kitchen this unit could truly shine. Condo fee is $305. Listed by Chelsea Traylor with Redfin.
- Space: 2 Bed, 2 Bath
- List Price: $324,500
- sq. ft.: 895
- Price per sq. ft.: $362.50
- Neighborhood: Brightwood
Features: Off-street parking is included in the list price.. This might show better than the photos. With the right agent…”cough, cough…ahem…”
… a savvy buyer might be able to get this for less than list price or negotiate help with closing costs given its 72 days on the market. Just sayin’! Condo fee is $350. Listed by Kara Ellis with TTR Sotheby’s.
- Space: 1 Bed, 1 Bath
- List Price: $449,000
- sq. ft.: 746
- Price per sq. ft.: $601.88
- Neighborhood: Dupont Circle
Features: Built-ins, hardwood floors, a fireplace, and an unconventional albeit interesting layout give this unit character and charm. Condo fee is $392. Listed by Rob Bouknight with Compass.
NORTHEAST
In NE, my search uncovered 24 listings — all condos. Many neighborhoods in NE have seen more and more upward motion in the market in recent years. Let’s get digging!
- Space: 1 Bed, 1 Bath
- List Price: $269,000
- sq. ft.: 607
- Price per sq. ft.: $418.45
- Neighborhood: Brookland
Features: Renovated in 2018, close to Fort Totten metro, hardwood floors, and extra large master bedroom make this listing worth a look. Condo fee is $268. Listed by Ruma Sikka of Keller Williams.
- Space: 2 Bed, 2 Bath
- List: $447,000
- sq. ft.: 715
- Price per sq. ft.: $625.17
- Neighborhood: H Street Corridor
Features: Right smack next to the bustling H St. Corridor, this listing comes with dedicated parking — a huge perk! Close to Union Station, Stanton Park, and steps to the Atlas District. Condo fee is $337.72. Listed by Joan Carmichael of Century 21.
- Space: 1 Bed, 1 Bath, .5 Bath (Yes, an extra half bath!)
- List Price: $449,000
- sq. ft.: 1089
- Price per sq. ft.: $412.30
- Neighborhood: Capitol Hill
Features: The listing shows this unit as being over 1000 sf, with what looks like a bedroom that is larger than some small condos! Extra high ceilings, gleaming hardwood floors… and wait for it… a community pool! Condo fee is $317. Listed by Jesse Soto of Keller Williams.
What do you think Popville peeps? Does 500K get you what you want? Do the listings featured in this month’s column get you excited or disappointed? Tune in next month for Part 2!
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