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With Profits High, Three Zip Codes Lead The Way On Home Flipping

  • June 28th

by UrbanTurf Staff

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20019.jpg
A home that was flipped in 20019 years ago. 

Home flipping is not as prevalent in DC as it used to be, but there are still pockets where flippers are making profits. 

According to a new report from ATTOM, there were three zip codes in DC where there were at least 5 homes flipped in the first quarter of 2024: 20002, 20011, and 20019. The 20019 zip code (Deanwood, Marshall Heights, Benning Ridge) led the way with 23 flips, and a gross profit of $207,000. 

The 20011 zip code (Brightwood, Crestwood, Petworth, Fort Totten) saw 12 flips with a gross profit of $207,000. In the 20002 zip code (Eckington, Ivy City, northeast Capitol Hill), there were just 9 home flips, but those flips were very profitable, with average gross profits of just north of $500,000. 

To see ATTOM's full report, click here. 

The report identifies flips as the same property selling twice within 12 months. Gross profit is calculated as the difference between the original purchase price and the second sales price. Rehabilitation costs and associated expenses are typically 20-33% of home value after repair.

See other articles related to: dc home flipping

This article originally published at https://dc.urbanturf.com/articles/blog/with_profits_high_three_zip_codes_lead_the_way_on_home_flipping/22455.

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