What Does $280K Buy You in DC?

• July 16, 2009
• 7 Comments

by Mark Wellborn

You don’t expect to get a 750 square-foot unit in one of DC’s nicer neighborhoods for under $300K. But this is exactly what you get with this corner unit in Wesley Heights. The property has multiple windows in the living room/dining area that offer great views of the neighborhood. The kitchen and bathroom have been remodeled, and the entire unit has hardwood floors. The bedroom is large and also has windows that let in a lot of natural light.

Living Room

This is a neighborhood known for its inordinately high monthly maintenance costs, and at $576/month, the fees on this unit are steep. That said, it includes most utilities, a concierge and access to an exercise room, sauna and roof deck, all of which we would value at about $150-$200/month. More details and photos below.

Bedroom

Roof Deck

• Address: 3901 Cathedral Avenue NW, #413 (see map here)
• Price: $279,000
• Bedrooms: One
• Bathrooms: One
• Square Footage: 737
• Price per SF: $379
• Monthly Fees: $576
• For the full listing, click here.

This article originally published at http://dc.urbanturf.com/articles/blog/what_does_280k_buy_you_in_dc/1139

7 Comments

1. jag said at 1:09 pm on Thursday July 16, 2009:

   EXTREMELY small and ugly kitchen though, oh well.

1. Tom A. said at 1:15 pm on Thursday July 16, 2009:

   meh.  5% down with 5.5% mortgage and hefty condo fee and you’re over 2k a month.  That’s why it hasn’t sold.

1. Tom A said at 1:24 pm on Thursday July 16, 2009:

   eek. I hadn’t even looked at the pics of the unattractive building and scary kitchen!

1. George said at 1:35 pm on Thursday July 16, 2009:

   5% down? thats nuts, Tom. If you are going to buy this place, at least put 20% down if not more. The fees are high, but with that type of down payment your monthly fees will be much lower. You are not gonna find more space for less money this side of wisconsin avenue.

1. csm said at 3:00 pm on Thursday July 16, 2009:

   Great floors, windows and spacious living/dining room areas but small kitchen and not even updated.  The bathroom sucks as well.  Condo fee is ridiculously high and not worth it.  I’m sure the gym and sauna are small.  Can u negotiate condo fees?  Probably not.  I think the price needs to drop to compensate for the high fee.

1. Michael said at 5:46 pm on Thursday July 16, 2009:

   Nice…. but Metro is far away and those are some high condo fees that don’t seem proportionate with that unit… do they?

1. Lauren said at 8:32 pm on Monday July 20, 2009:

   A 669 sq ft unit in this building sold for $223k, so yeah, this isn’t a very good deal.

   http://franklymls.com/DC7071400

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