The Dig: What Can 500K Buy You in DC? (Part 2 of 2)

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 2 of The Dig’s “What Can 500K Buy You in DC?” If you missed last month’s column, click here to catch up! The topic proved to be extremely popular so let’s dig into the SW & SE quadrants of DC and highlight some results.

Criteria

• Max list price of 500K
• 400+ sq. ft. (square feet)
• For any condos, fee must be < $425
• Standard Sale (excludes potential foreclosures & short sales)

SOUTHWEST

800 4th Street SW, #N425

• Space: 0 Bed, 1 Bath
• List Price: $245,000
• sq. ft.: 517
• Price per sq. ft.: $473.89
• Neighborhood: Southwest Waterfront

Features: This bright and spacious studio boasts 517 sf of living space and according to the listing has a “retractable, remove controlled bed” for convenient space saving. Tons of amenities – storage, pool and very close to metro. One caveat that might deter buyers is the communal laundry…but we can’t have it all, can we? Condo fee $334. Listed by Alex DeLorme of Compass.

1101 3rd Street SW, #112

• Space: 1 Bed, 1 Bath
• List Price: $339,000
• sq. ft.: 526
• Price per sq. ft.: $644
• Neighborhood: Southwest Waterfront

Features: Assigned parking is a big bonus for this unit with contemporary finishes and tons of natural light. Open this Sunday from 2-4. If you want company and don’t have an agent, I know a guy… *shameless self promotion*! Condo fee is $414. Listed by Katherine Kranenburg of TTR.

130 Chesapeake Street SW

• Space: Single Family Home — 3 Bed, 2 Bath
• List Price: $360,000
• sq. ft.: 1,040
• Price per sq. ft.: $346
• Neighborhood: Congress Heights

Features: Located on a massive lot, this detached SFH is waiting for the right owner to purchase it and give it a makeover. 18 days on the market. Tons of potential! Listed by Sharee Body with Exit Flagship Realty.

SOUTHEAST

3794 Martin Luther King Jr. Avenue SE, #304

• Space: 2 Bed, 1 Bath
• List Price: $325,000
• sq. ft.: 883
• Price per sq. ft.: $368
• Neighborhood: Congress Heights

Features: Listing information indicates that all 19 units have been gutted and renovated. The exterior of the building doesn’t exactly scream updated, but the developer may have plans to improve that at some point. Condo fee $290. Listed by Carline Moraes with Independent Realty, Inc.

1524 Independence Avenue SE, #302

• Space: 2 Bed, 2 Bath
• List: $449,900
• sq. ft.: 1,075
• Price per sq. ft.: $418
• Neighborhood: Kingman Park

Features: Kingman Park is primed to benefit from the recently announced developments for RFK. This area is considered a hot market and you can see that if you drive through and note the number of development projects under construction or coming soon. Top floor, bright and priced well. Condo fee $413. Listed by Seth Turner with Compass.

725 46th Street SE

• Space: Single Family Home, 4 Bed, 2 Bath
• List Price: $489,900
• sq. ft.: 1,156
• Price per sq. ft.: $423
• Neighborhood: Fort Dupont Park

Features: Single family detached home, newly renovated, driveway parking and large backyard with patio. Close to N. Capitol, Benning Road — short drive to National Harbor and MGM. Listed by Jerry Jewell with Realtyforce, Inc.

What do you think DC Popville readers? Is overall affordability better or worse based on this small snapshot of SW/SE? If you are a prospective buyer, was this article helpful?

I look forward to your comments and feedback and as always, thanks for taking time to read ‘The Dig!’ Feel free to suggest future column topics as well.