Deal of the Week: A Price Per Square Foot Special in Logan Circle

by Mark Wellborn

The Hawarden

For this installment of Deal of the Week, we find a two-bedroom coop in a historic Logan Circle building with a price per square foot below the neighborhood average.

This 1,300 square-foot unit is located in The Hawarden, which was built in 1901 and designed by Washington architect George S. Cooper (who also designed the DC Real World house at 2000 S Street NW). The home has a bright living room, a spacious kitchen and dining area, and two good-sized bedrooms. Renovations will likely be needed at some point down the road, but at about $400 a square foot, it makes our deal category in a neighborhood where the price per square foot for homes on the market can approach $600. More details and photos below. For the full listing, click here.

1419 R Street NW, #10 (map)

  • Price: $525,000
  • Bedrooms: Two
  • Bathrooms: Two
  • Square Footage: 1,300

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.8 percent.

  • Loan Amount: $420,000
  • Principal and Interest: $2,204
  • Coop Fees (Including Taxes): $570/month
  • Total Monthly Payments: $2,774

Living Room

See other articles related to: logan circle, deal of the week, dclofts

This article originally published at https://dc.urbanturf.com/articles/blog/deal_of_the_week_a_price_per_square_foot_special_in_logan_circle/2278


  1. jag said at 12:59 am on Tuesday July 20, 2010:

    Amazing exterior!

  1. swim fan said at 8:07 am on Tuesday July 20, 2010:

    I was looking forward to seeing this unit. It is quite big, but really old and funky. Felt like it needed leveling. It would be nicer if wood were exposed (doors, entry way, etc).

  1. Rayful Edmond said at 8:18 am on Tuesday July 20, 2010:

    Like I’ve said before, never buy into a Coop. Especially at $570/mo with no amenities, no elevator, no central air, no storage, etc, etc.

    Not a good deal, but I’m sure some schmuck will be excited by the pretty facade.

  1. Marvin said at 8:33 am on Tuesday July 20, 2010:

    The price per square foot is definitely low for the area and I love the living room. Not sure why people don’t like co-ops. I lived in one for years in New York and had no problem renting it out.

  1. nah said at 10:26 am on Tuesday July 20, 2010:

    @ Marvin, co-ops are more prevalent in NYC; I once read a stat that about 40% units are co-op vs. condo.  But in DC, it’s much lower like 10%.  Co-ops are difficult to sell bc the board has to approve the new buyer, and they usually have much more stringent rules than condo boards.  Co-ops also have a reputation for being finicky about potential buyers unless they “fit” within a certain mold.  In other words, they have to like you.  from my assessment in property law, I would never buy a co-op, especially since there are so many condos available in DC.

  1. Mary said at 11:05 am on Tuesday July 20, 2010:

    ” Co-ops are difficult to sell bc the board has to approve the new buyer, and they usually have much more stringent rules than condo boards.  Co-ops also have a reputation for being finicky about potential buyers unless they “fit” within a certain mold.  “

    Not really. That, I think may be a New York thing. I’ve never heard of it in DC. They do coop interviews of prospective buyers, but it’s just a chance to go over coop rules (which, in all the ones I’ve seen aren’t more arcane than condo rules) and introduce some of the comittee members to the buyer.

    I think the big advantage of coops is definitely the lower average property taxes and the fact that,because both they and banks pretty much require convential fixed mortgages, people aren’t buying with ARMs and 80/20 loans, so have lower foreclosure rates. Disadvantages include fewer financing options and sometimes stricter rules on renting your unit.

  1. Swenson said at 11:06 am on Tuesday July 20, 2010:

    Co-ops get a bad rap. The fact that the board in the building has to approve the owner should actually be considered a good thing in a time where so many people are buying homes despite not being in a financial position to do so. Despite what people think, co-op boards are more concerned that you have the necessary means to pay your mortgage every month than if you are a young professional who may host occasional parties.

  1. Seth said at 11:53 am on Tuesday July 20, 2010:

    @ Rayful Edmond - Keep in mind that the co-op fee does include taxes, as well as utilities, such as heat and water.  Also the unit includes a private storage space, and there is a community bike room in the building.

  1. scott said at 12:13 pm on Tuesday July 20, 2010:

    The price per foot reflects the block.  The 1400 block of R is one of the worst in the neighborhood, with police tape up about once a week.  I wouldn’t live there for $200/ft.

  1. Fritz Hubig said at 9:38 am on Thursday July 22, 2010:

    My coworker had the listing right next door at 1433 R Street, a stunning 2BR 2BA renovated condo with low condo fees. My friends who live in the neighborhood would stop by and tell me the history of the block from their perspective, most of it not great. I’ve looked at crime stats and that block is no different in reality than many other blocks in Logan Circle. But perception-wise…it seems people will think what they think. And the too-oft sight of cops didn’t help..its a shame as the people are amazingly nice that live on the block.

    We ended up renting it out…

  1. fairyfloss said at 11:18 am on Monday October 11, 2010:

    I can’t believe the misinformation in these comments. Full disclosure: I am a resident of this building and love it. 

    @Rayful Edmond: the building has an elevator, a large amount of individual lock up storage in the basement, a lovely communal garden, and the unit has walk in robes and large rooms. How many similar aged buildings in this area have these features?

    @Nah: Not sure what you have against coops. This one allows a percentage of units to be rented, interviews potential owners only for financial stability (surely a good thing in this economy)and, at only 20 units is one of the smallest density buildings in the area resulting in a community which knows and looks after each other. And this coop has such great financials that several large banks readily lend to buy in it.  And don’t forget the Homestead allowance: almost zero property taxes if you buy in this building. Mine were $120 last year!

    @Scott: I have lived in this block for four years and the ONLY time I’ve seen police tape is when it blocks off the street for the annual street party.  Sure, the cops visit the block but it’s mostly the other end of the block (nearest 15th St)and rarely for anything serious. I’m thankful they’re doing their job.

    I’ve never felt as safe as I have living here.  Everyone knows everyone and looks out for them.  A REAL urban community.  That can’t be said for other parts of the city.  The blocks closer to U Street have drug and violent crimes. If you look at the stats for this block it’s a little bit of theft from cars - common throughout the city. I moved here from the Penn Quarter.  Now there’s a place which gets a lot of police visits and has a high level of crime!  You wouldn’t catch me walking down 6th street at 2am but I’d happily do so on this block.

    So please, the next time you want to disparage a neighborhood, get your facts straight.

Comments are closed.

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