Comp and Circumstance: DC vs. Miami

November 18, 2010
9 Comments

by Rebecca Ortega

Comp and Circumstance usually presents two “for-sale” homes of roughly similar prices in DC and compares the pros and cons of each. This week, however, members of UrbanTurf were down in Miami, so we decided to see how DC property prices compared to those in South Florida. The price point for this week’s travel edition of Comp and Circumstance is $699,000. Let us know in the comments section below which of the two you feel is the better buy.

See all our past Comp and Circumstance features here.

Four-Bedroom Spanish Style Home in Miami’s Upper East Side

The housing market in South Florida was one of the hardest hit during the crisis of the last two years, and Miami is a city that still has a long way to go toward recovery. While real estate professionals in the region say that things are getting better, homes that used to sell for over $1 million are now on the market for far less.

This four-bedroom home is tucked away on a quiet cul-de-sac on the Upper East Side (not Manhattan) of Miami (map). In addition to a brand new kitchen and renovated bathrooms with huge showers, the Spanish-style home has a master suite with large custom closets and a patio area with oak trees that will likely make DC residents pine for year-round warm weather. The property also has an attached guest house with its own living areas. Originally listed for over $900,000, the listing price has dropped over $200,000.

Four-Bedroom Renovated Home on Monroe Street in Columbia Heights

Renovated this year, 1435 Monroe Street NW (map) is a large Victorian row home in Columbia Heights with about 2,400 square feet of total space. The house has four bedrooms, 3.5 bathrooms, a patio off of the kitchen and two off-street parking spaces. The home’s kitchen was redone with a cool, clean color scheme, an island and a six-burner stove. The master suite has vaulted 13-foot ceilings and his and her closets along an exposed brick wall. The basement is fully finished, with tile flooring and a full bathroom, and there is the potential that it could be a rental unit, but a kitchen would need to be added.

So, what do you think? Does the Columbia Heights house make you happy that you live in DC? Or does the Miami home make you want to leave DC in the dust? Let us know your preference in the comments below.

	692 NE 70 Street, Miami, Florida	1435 Monroe Street NW
Bedrooms	4	4
Bathrooms	4.5	3.5
Pros	High-end renovations, large patio, guest house	New renovations, large property, off-street parking, possible in-law suite
Cons	Listing price has gone down significantly and could still drop	Additions needed to be made to make lower level rentable
Price	$699,000	$699,999
Links	692 NE 70 Street	1435 Monroe Street NW

This article originally published at http://dc.urbanturf.com/articles/blog/comp_and_circumstance_dc_vs._miami/2685

9 Comments

Miami said at 12:04 pm on Thursday November 18, 2010:
Falling prices be damned…I am moving to Miami.

jimmy said at 12:15 pm on Thursday November 18, 2010:
Miami all the way. Aside from some redonkulous decorating (what is with that wall of bulb-like mirrors??) the Miami place is amazing. That back patio is almost enough alone to sell me on the place, although I suppose it’s possible that the memories of such wonderful DC weather as “Snowpacalypse” and “Snowmageddon” are affecting my opinion…

Mike said at 12:44 pm on Thursday November 18, 2010:
Like LeBron, I’m taking my talents to South Beach

Arlington said at 1:26 pm on Thursday November 18, 2010:
The Miami home would be a heck of a commute to my job in DC

SW said at 12:12 am on Friday November 19, 2010:
Miami’s job market is @%&!. I’ll take the 14 and Monroe NW location without blinking.

Lalala said at 2:49 am on Friday November 19, 2010:
I’d rather live in a hovel than live in Florida.

Rob said at 11:38 am on Friday November 19, 2010:
$699 for Miami? That seems WAY high. I hear they’re jumping out of windows in S. Florida. Offering 50% with 3% closing and watch them snatch at it like crocs. Try Fort Laud for less pomp and more comp.

James Andrew Sands said at 11:51 am on Friday November 19, 2010:
As a Fort Lauderdale native, and Realtor licensed in Florida, I can honestly say South Florida is a GREAT BUY! See some of my GREAT South Florida listings here now JAMESANDREWSANDS.com

MD said at 12:38 pm on Friday November 19, 2010:
If I knew I could make a living there, Miami please!The house is adorable! Unfortunately, there’s a reason housing prices have fallen like crazy there- they’re having a rough time of it. I’d definitely consider a discounted condo as a second home/investment, but not ready to chance a first home there yet.