What $$ Buys
What $250K Buys You in the DC Area
While a quarter-million dollars might sound like a lot of money, in a post-real-estate-bubble world it’s shocking how little turf it buys these days in and around the nation’s capital. In 2000, $250,000 was the average sales price for a spacious two-bedroom property in DC. Today, you’ll be lucky to get a 600 square-foot studio with that chunk of money. However, there are still gems if you look closely (see below). And if you don’t mind living about an hour from the city, you can still get a bonafide house with that money.
- 519 square-foot studio near the Penn Quarter
- 963 square-foot 1bd/1ba unit in swanky Wesley Heights
- 1,854 square-foot, 3bd/3.5ba townhouse in charming Leesburg
- 2,300 square-foot 4bd/3ba Victorian home in Manassas
1,854 square-foot, 3bd/3.5ba townhouse in charming Leesburg
340 Millbrook Terrace
This property (see map here) is about an hour from downtown DC. You can waste gas money driving to and from the city or you can take advantage of the Loudoun County commuter bus service. The service provides transportation to West Falls Church, Rosslyn and downtown DC.
DescriptionThe first floor of this townhouse features a large living room, dining room, and a kitchen big enough to fit a small table. The floor is very well-lit from two large windows in the front of the house.
The second floor has three bedrooms. The master bedroom has a luxury bath, a walk-in closet and is the largest of the three rooms.
The basement is fully finished and includes a large recreation room and a wood-burning fireplace. Laundry and storage are also located in the basement. There is an elevated outdoor deck off the first floor that overlooks a large back yard.
| Price: | $250,000 |
|---|---|
| Square Footage: | 1,854 |
| Price Per Square-Foot: | $134 |
| 2007 Taxes: | $3,486 |
| HOA Fee: | $63/month |
* Click here for the full listing.
Bedroom
There is a swimming pool, tennis court and playground available for community use. The house does not have a garage, but there are two parking spaces out front. There is central A/C.
Bottom LineLeesburg may be a slightly more appealing area than Manassas, but for about the same price, a buyer can get about 500 more square feet in Prince George’s County. The commuting distance to DC is also virtually the same.
2 Comments
It will also buy you (OK, almost buy you) a 3 bedroom townhouse in Petworth. $279 will buy it—4 blocks from the new condomium construction at Petworth Metro where the same $279 probably won’t get you a condo. Great neighbors, nice playground down the block. The downside is you’ll probably have a 1950s kitchen that you’ll eventually want to redo, but you won’t have to live with someone else’s taste. There’s lots most of this kind of house under $400G in Petworth.
all that, *and* the police check everyone’s ID when they drive past your house.