UrbanTurf Reader Asks: Which DC Hood Has the Best Investment Potential?

• May 26, 2009
• 11 Comments

by Mark Wellborn

In this week’s installment of “UrbanTurf Reader Asks,” a reader inquires about which DC neighborhoods have the best investment potential:

“I have been looking to buy a condo or single-family home (if the price is right) in DC for about four months, but I want to buy in an area where I can get a good deal and the property will increase in value over time.

I am looking in the $400,000 to $500,000 range and don’t need to live in Dupont or Georgetown. In fact, I would prefer areas like Le Droit Park or Mount Pleasant.”

About eight months ago, we offered up what we considered to be the DC neighborhoods with the best investment potential, but we imagine our readers have their own take. Post your thoughts in the comments section. If you would like to submit a question for “UrbanTurf Reader Asks,” send an email to .(JavaScript must be enabled to view this email address).

This article originally published at http://dc.urbanturf.com/articles/blog/urbanturf_reader_asks_which_dc_hood_has_the_best_investment_potential/951

11 Comments

1. JohnDC said at 11:47 am on Tuesday May 26, 2009:

   I agree with Ledroit park but that’s still a bit pricey. Areas like Eckington and the eastern tip of Shaw are still quite cheap and should benefit from all the development going on in NOMA like the Harris Teeter.

   For the second location I see a lot of potential compared to what it looks like today. The corner of North Capitol & New York looks pretty rough with drug dealings and whatnot but with that development and the new Dunbar condo/apts they are starting I think it will clean up quickly.

   Not to mention the city efforts to completely rebuild the projects to the south.

1. benji said at 12:42 pm on Tuesday May 26, 2009:

   Completely agree with Eckington, but would also throw Petworth, Bloomingdale and LeDroit Park in their as well. All beautiful neighborhoods with a lot of potential.

1. eric said at 1:18 pm on Tuesday May 26, 2009:

   I think that the Near Northeast and outer-Capitol Hill areas are ripe for investment potential.  Around H Street NE, up or down a couple blocks by all the new bars.  If you land a block or two south, the D6 bus goes up and down C and D Streets all the way to northern Georgetown.

1. Tom A. said at 1:51 pm on Tuesday May 26, 2009:

   Kind of a tough question, since he or she fails to give any mention of lifestyle.  Do they need to be close to metro? bars? shopping? dog parks?

   But given the desire for Ledroit Park and Mt Pleasant, I’d go with Bloomingdale- most of which realtors call Ledroit Park anyway, or the H Street corridor where you can still get good deals.  If they have a dog, I’d go with the H street area though- Lincoln Park and the Congressional Cemetery aren’t too far away.  There’s not much open running space in Ledroit Park/ Bloomingdale.

1. 2nd street said at 3:16 pm on Tuesday May 26, 2009:

   While Tom is right that there’s not much open running space for dogs in Ledroit at present, construction will begin in June on a beautiful new park which will also include a ~9K square foot dog park on Elm Street (between T and U) between 2nd and 3rd at the current Gage-Eckington school site.

1. GeorgiaAve said at 8:18 am on Wednesday May 27, 2009:

   In Petworth, you’ll get the most house for the money (for $450K you can expect central air and renovations) and in the southern part of the neighborhood, be in walking distance of a lot of new development that will be coming on line in the next few years. LeDroit park is great, but I feel like you’d need to be able to spend closer to $600K to get a nice house. I love Mt. Pleasant, but $600K would be a bare minimum, and that would be the price for a fixer upper. I ended up buying in Petworth b/c I liked the tree-lined streets of Mt. Pleasant, but couldn’t afford there…

1. mjusa said at 4:11 pm on Wednesday May 27, 2009:

   guys, what about columbia heights. you can stil get a good deal if it is a foreclosure or short sale. esp if it is distressed.

1. dave said at 6:11 pm on Wednesday May 27, 2009:

   Some suggestions:

   Ledroit; Bloomingdale; Eckington

   These three neighborhoods, which adjoin one another and share a major arterial road, North Capitol St., are good bets as each is currently undergoing a revitalization to some degree. It’s possible something nice but a little run down might be picked up reasonably cheap around Florida Ave., NW, between Georgia Ave. and North Capitol St.

   Columbia Heights; Petworth

   While $400,000 doesn’t buy all that much in Columbia Heights, it could be enough for a small row house in Petworth. The closer you are to a Metro stop the better. Columbia Heights is almost certain to steadily improve due its nearness to U Street, the abundance of its stately Victorians, and, of course, the Metro station. More pricey than not? You bet. But a deal might be found here and there.

   Brookland

   Still sort of an undiscovered neighborhood, but a nice assortment of houses, both small and large. Again, the nearer to Metro, the better.

   North Capitol Hill (between Florida Ave., NE and H St., NE)

   A bit rough, but opportunities exist for a good deal. The New York Avenue Metro station, along with the continuing development of NoMA, could give this area a spark. Eventually, it will blossom, but “when” is a big question. The housing stock is of a smaller scale, so that detracts to some extent.

   Westminister; east U Street area

   Now, Westminister. Where’s that you ask? Well, check your map for a small street between T and S Sts., NW, and between 9th and 10th Sts., NW. OK, so it’s a small street named ” ...” but some residents in that neck of the woods are pushing to call the small, but compact area in the general vicinity, “Westminister.” The large Victorians here are distinctive and impressive, but command big bucks. Across 9th St., NW, something tasty might be discovered.

   There’s a couple of other DC neighborhoods that should be considered, such as Trinidad and Brightwood. Things are certainly happening, but it could be a while for an investment to pay off handsomely, or maybe not.

1. Tim said at 11:48 am on Thursday May 28, 2009:

   Trinidad???

1. Liam said at 9:40 am on Friday May 29, 2009:

   Capitol Riverfront.

1. danielle d said at 11:24 am on Tuesday June 2, 2009:

   Ditto - Capitol Riverfront!

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