Reply to Are these H St. NE / Capitol Hill houses priced appropriately?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How about 1.3 million in Trinidad ??? https://www.redfin.com/DC/Washington/1612-Levis-St-NE-20002/home/10097703?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link[/quote]

Pricing in Trinidad is really interesting right now. Surprising number of places asking for close to $1m, and this place is in line with those prices because if it’s size. But you can also find 2 bedroom condos in the less desirable parts of the neighborhood (further from H, more crime, close to Bladensberg or Mt Oliver), for less than 400k. Kind of fascinating.

I don’t think they’ll get 1.3, but I think they will eventually get 1.1. I’ve also got my eye on a developer flip down on Morse with some interesting features that I expect to list for a similar amount because of what they’re doing. Very curious to see how that goes, as multiple million dollar homes in the neighborhood is very new territory.[/quote]

The linked place is a two-unit property, so it's not an apples-to-apples comparison to most of the other properties we've seen in this thread.[/quote]

Wow, this is an interesting property.  According to the description, the 1-st floor 2-bedroom unit rents for almost $6000!  I find that rather hard to believe ... but if it's true, not a bad deal at all for someone who doesn't mind driving everywhere and has no kids.  [b]If it was just a SMIDGE closer to the metro (20 minute walk)[/b] I'd say it was a knock-out. [/quote]

Yeah, if it were just a little closer to Metro and to H Street. I can't imagine that's a very pleasant walk back to this place late at night.

Also, would inheriting a tenant be a turnoff to some buyers? Is it weird that this place was built just this year, already has a tenant and now is being sold? I honestly have no idea how this part of the market works.[/quote]

A tenant that is actually paying $6k/month is a keeper!!  [b]I believe that this building was built on a vacant lot.[/b]  Construction takes less time than you'd think, especially if there is no demolition involved.  [/quote]

It was. The vacant lot still is on Google Streetview. It seems real narrow, and makes me wonder if this place isn't real narrow, too.[/quote]

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