What $445,000 Buys You in the DC Area

• March 5, 2013
• 6 Comments

by Shilpi Paul

In What X Buys You this week, UrbanTurf takes a look at properties on the market in the $445,000 range to give readers an idea of what type of homes are available in this price point in the DC area.

80s-Style Colonial in Silver Spring

We don’t see too many listings that were built in the 80s, so our interest was piqued by this Silver Spring colonial. Evidence of its age can be seen in the curved countertop, lack of moldings, and wood-paneled exterior. The backyard has a secret garden vibe, with a stone pathway and lush greenery on all sides. The bonus amenity of the listing? A hot tub near the deck.

• Full Listing: 1522 Ainsley Road, Silver Spring, MD (map)
• Price: $439,000
• Bedrooms: Four
• Bathrooms: 3.5
• Year Built: 1987
• Listing Agent: Teresa Ann Hitt, Long and Foster

Kalorama Co-op With a Window Seat

For those in the market for a two-bedroom, this Kalorama co-op will check a lot of boxes, but is a bit on the small side. The bedrooms are tight but charming. The living area is also relatively small, but has enough nooks and corners to make it interesting. (We particularly liked the cushioned window seat.) The monthly fees are on the high side, but they do include property taxes.

• Full Listing: 1832 Biltmore Street NW, #6 (map)
• Price: $449,900
• Bedrooms: Two
• Bathrooms: One
• Year Built: 1900
• HOA fees: $602/month
• Listing Agent: Phyllis Alexander, Long and Foster

A Capitol Hill Loft With Short Walls

This unit is in Lovejoy Lofts, a former Capitol Hill school building that was converted into condos in 2003. Besides the historic building, exposed piping gives the unit a lofty feeling. Short walls that don’t quite reach the ceiling divide the main space into a living room, kitchen and master bedroom. A smaller second bedroom is tucked away off to the side.

• Full Listing: 440 12th Street NE, #1 (map)
• Price: $444,900
• Bedrooms: Two
• Bathrooms: One
• Square Footage: 1,160
• Condo fees: $383/month
• Listing Agent: Pamela Kristof, RE/MAX Allegiance

This article originally published at http://dc.urbanturf.com/articles/blog/what_445000_buys_you_in_the_dc_area/6742

6 Comments

1. Recent buyer said at 12:18 pm on Tuesday March 5, 2013:

   It seems inaccurate to list things side by side with drastically different condo fees (between $0 and $600). Every $100 in condo/HOA fees could buy at least $20k in extra house (not even counting the money saved in taxes). These homes seem to be effectively in different price ranges.

   It would be nice if this were taken into account with future “What X buys you” posts.

1. Mark Wellborn said at 12:38 pm on Tuesday March 5, 2013:

   Recent buyer,

   The purpose of the What X Buys series is to provide a variety of listings on the DC-area market in one specific price point. The article wouldn’t be very interesting if we listed three two-bedroom units with similar fees side by side.

   As for the monthly fees for the two units listed here, they don’t actually vary that much in reality. The Capitol Hill unit has $380 monthly fees and monthly property taxes of $262 for a total of $642 a month. The Kalorama co-op has total monthly fees (including property taxes) of just over $600 a month.

   Thanks,

   Mark Wellborn
   Editor

1. bone said at 12:44 pm on Tuesday March 5, 2013:

   Also, condo fees pay for things like insurance, some utilities (the biltmore st coop includes heat), and maintenance that homeowners would otherwise have to pay for themselves.

1. Recent buyer said at 3:21 pm on Tuesday March 5, 2013:

   I understand your points and I think they mitigate the downsides of paying the condo fee vs. mortgage, but I thought the purpose of the feature was to give people a sense of what they could buy on a given budget. It might be more interesting to prioritize a diversity of properties, but how useful is that to anyone if they are not actually equally affordable.

1. my 2 cents said at 8:30 pm on Wednesday March 6, 2013:

   Yuck. Those exposed pipes are ugly… and I like lofts.  But lofts these aren’t.  Exposed pipes only work when it’s a true loft (i.e. tall ceilings, big spaces, industrial feel).  This place looks cheap and unfinished.

1. Justin S said at 5:28 pm on Wednesday April 10, 2013:

   Recent Buyer has a valid point. When we’re looking to buy, people getting a “standard” mortgage are approved based on total costs including taxes and condo fees. This article did a better job than it appeared at first glance, but by not explaining that the co-op’s fees included taxes (while the condo’s did not), an accidental apples-to-oranges comparison was made.

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