Deal of the Week: 720 Square Feet on the Cheap in Dupont

by Mark Wellborn


If you are in the market for a one-bedroom unit, you may want to check out the block of 20th Street between R and S in Dupont Circle. In addition to the one-bedroom unit in this week’s Best New Listings, we found a corner one-bedroom co-op on that block for this installment of Deal of the Week, where the price has dropped almost $65,000 since it was originally listed three months ago.

The 720 square-foot unit has hardwood floors, an updated kitchen, a wood-burning fireplace, and numerous windows which makes the place very bright. Even though the monthly fees look high, keep in mind that they include property taxes. With a 20 percent down payment at a 4.5 percent interest rate, your monthly payments are going to be about $1,660 a month; the average monthly rent for a one-bedroom in this area is about $2,000. More details and photos below.

  • Address: 1731 20th Street NW, #6 (map)
  • Price: $285,000
  • Bedrooms: One
  • Bathrooms: One
  • Square Footage: 720

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.6 percent.

  • Loan Amount: $228,000
  • Principal and Interest: $1,155
  • Coop Fees (Includes Property Taxes): $508/month
  • Total Monthly Payments: $1,663
Exterior of 1731 20th Street

See other articles related to: dupont circle, deal of the week, dclofts

This article originally published at http://dc.urbanturf.com/articles/blog/deal_of_the_week_720_square_feet_on_the_cheap_in_dupont/2354


  1. George said at 7:33 am on Tuesday August 10, 2010:

    Even with all the price reductions, I imagine the seller would come down another $10K. Still, a very good deal for the area.

  1. Interested said at 11:02 am on Tuesday August 10, 2010:

    Seems like a great deal. Has anyone seen this unit? Might there be something wrong with it?

  1. Janson said at 11:50 am on Tuesday August 10, 2010:

    Looks like a steal. Like #interested said, what’s wrong with it. At that price maybe the coop fee is scaring people, even though it seems reasonable to me. Maybe it’s the paint color?

  1. AP said at 12:21 pm on Tuesday August 10, 2010:

    Is it a 4th floor walk-up?  That could be a big deterrent for a lot of people.

  1. Mary said at 1:48 pm on Tuesday August 10, 2010:

    Getting financing for coops from banks is generally not a bit deal (though sometimes they have preferred lenders) but I’m not sure you can get FHA financing for them. So, these days you probably need at least 10% down, which may be a problem for, say the first time buyers who represent a big portion of those in the mkt for a one bedroom. And that might keep the price lower relative to others in the neighborhood.

  1. Jorge said at 2:13 pm on Tuesday August 10, 2010:

    Yikes.  The condo fee is $508 per month! Seems high for the area and the unit.

  1. Janson said at 4:00 pm on Tuesday August 10, 2010:

    #Jorge It’s a Co-op, not a condo, so the $508 fee includes probably at least $130/month in taxes (which, as a Condo owner you would have to pay as part of your mortgage). So the fee as a Condo comparison is more like $375, which seems at least reasonable.

  1. JonJon said at 11:10 am on Wednesday August 11, 2010:

    #Janson, thank you for pointing out the difference between a condo and coop fee. Unfortunately so many people don’t get it and needless to say as a Realtor I find that usually the bigger issue of why coops don’t sell as often. Also on top of the taxes included the fee includes gas…still pay electric but at least it’s one other bill you don’t have to worry about.

  1. Geori said at 11:12 am on Wednesday August 11, 2010:

    This place is a steal.  I don’t see how someone would pay $120K more for a comparable unit next door.  Getting out of a Coop walkup isn’t worth an extra 40 to 50% in price.

  1. Andi said at 11:12 am on Wednesday August 11, 2010:

    My experience is that most coops (although not all) require 20% down financing. For those buyers that do not have a lot saved up, coops are sometime not an option. This lessens the buyer pool on coop in comparison to condos. Although it may be a bit more difficult to sell, they do tend to be very financial stable investments.

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