Deal of the Week: The Chevy Chase Starter Home

by UrbanTurf Staff

5382 Nevada Avenue NW

Four-bedroom homes in Chevy Chase DC usually hover in the high six-figure/low seven-figure price range, so when one hits the market that falls below that price point, it garners some attention.

This installment of Deal of the Week, a four-bedroom Colonial, is discounted for a couple reasons. For one thing, it lies near the busy intersection of Military Road and Nevada Avenue NW. For another, it is in good shape, but not the recently-renovated condition that so many homes in the neighborhood fall under, and it is being sold as-is.


However, the home’s price is not the only thing that makes it a bargain. At four bedrooms and 2.5 baths with a front porch and deep backyard, the listing offers a lot for the money in one of DC’s pricier neighborhoods. For comparison purposes, a three-bedroom, one-bath home sold in the 5900 block of Nevada Avenue several months ago for $700,000.

But the eventual buyer will likely be a family that purchases more than just the home. They will probably buy for the quiet neighborhood, access to some of the better public schools in the city, and a chance to put some sweat equity into a property with good bones.

Living Room

More details and photos below.

Front porch
  • Full Listing: 5382 Nevada Avenue NW (map)
  • Price: $699,000
  • Bedrooms: Four
  • Bathrooms: 2.5
  • Year Built: 1935
  • Listing Agent: Sally McLuckie, TTR Sotheby’s International Realty

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.65 percent.

  • Loan Amount: $559,200
  • Principal and Interest: $2,883
  • Property Taxes: $427/month
  • Total Monthly Payments: $3,310

See other articles related to: deal of the week, chevy chase

This article originally published at http://dc.urbanturf.com/articles/blog/deal_of_the_week_the_chevy_chase_starter_home/3901


  1. Julian said at 8:32 am on Tuesday August 2, 2011:

    prediction: will have a buyer by the end of the week.

  1. Caroline said at 9:42 am on Tuesday August 2, 2011:

    I think it’s insane, even in the DC market, to think of a home that requires a six figure down-payment and over $3,000/mo mortgage as a “starter home.”  Maybe a starter home for a corporate lawyer or trust fund kid, but that’s it.

  1. Hellman said at 10:04 am on Tuesday August 2, 2011:

    The starter home reference is specific to Chevy Chase where, insane maybe, 699 is low for a four bedroom home.

  1. Lauren said at 10:11 am on Tuesday August 2, 2011:

    Caroline, I had the same thought!

  1. Juliet said at 4:35 pm on Tuesday August 2, 2011:

    Cute house. Very convenient location. And, $699K is an entry level price for the hood. House would be priced higher if it weren’t for the oil heat and lack of central A/C.

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