Deal of the Week: A Trinidad Fixer-Upper With Promise

• July 3, 2012
• 6 Comments

by Shilpi Paul

1526 Trinidad Ave NE

This installment of Deal of the Week is for a buyer willing to get a little dirty. While the piles of clutter and wood paneling make the rooms of this Trinidad row house look unappealing right now, some scrubbing and major trash disposal will reveal the bones of a very comfortable family home.

Looking past the surface, this row house has a lot going for it: four bedrooms, end unit placement with many more windows than a typical row house, a partially finished basement, parking, a patio area, and a large front porch. The location also hints at a wise investment: it’s half a mile from the H Street Corridor and a mile from Florida Avenue Market and the upcoming Union Market.

Without going inside, it’s tough to know exactly how much time and money it will take to make this home really shine, but we speculate that beyond some work in the kitchen and bathroom, the work will be largely cosmetic. For inspiration, check out these two recent editions of Re-imagined that envision how fixer-uppers in the neighborhood can be transformed.

More details below.

• Full Listing: 1526 Trinidad Avenue NE (map)
• Price: $300,000
• Bedrooms: Four
• Bathrooms: Two
• Square Footage: 1,600
• Listing Agent: Elbert Graves, Long & Foster

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 3.8 percent.

• Loan Amount: $240,000
• Principal and Interest: $1,118 per month
• Property Taxes: $185 per month
• Total Monthly Payments: $1,303

This article originally published at http://dc.urbanturf.com/articles/blog/deal_of_the_week_fixer-upper_with_promise_in_trinidad/5729

6 Comments

1. East_H said at 2:39 pm on Tuesday July 3, 2012:
   "We speculate that beyond some work in the kitchen and bathroom, the work will be largely cosmetic." Word to the wise: there will be underlying issues (electrical, plumbing) in a house like this. They have no idea what they are talking about. It's a decent deal, but houses that have had no improvements over the years are like knitted sweaters that keep unraveling when you attempt to fix little loose strings. Example: Want to upgrade the kitchen? Electrical probably needs upgrade, could be black tar under the linoleum, could be a mud floor above the kitchen and under the bathroom that prevents can lights and electrical work. Again, it does seem like a reasonable deal and worth checking out, but cosmetic changes are often not as easy as a realtor would have you believe.

1. Tom A. said at 3:47 pm on Tuesday July 3, 2012:
   we need the Property Brothers up in here! I'm hoping she does a "Re-Imagined" on this place.

1. Rock said at 4:03 pm on Tuesday July 3, 2012:
   Yeah, I think this is incredibly irresponsible to assume it's a quick cosmetic job without stepping foot inside. That assumption could get an inexperienced buyer in a ton of trouble. Any buyer should assume up front that it needs all new electrical, hvac and possible plumbing. That alone could well over $100k before you even talk about cosmetics. The question is whether it's a $500k+ home when it's finished.

1. Jason said at 4:37 pm on Tuesday July 3, 2012:
   @Rock $100k for electrical, plumbing, and HVAC is a little inflated for a house this size.

1. Andi said at 5:02 pm on Tuesday July 3, 2012:
   I don't think this is a deal at all. The top of the market in this area is just under $400K. There are alot of unknowns here. It may be a solid, well-maintained home, but in this condition, I would expect that the systems are close to original. Investors in this area are looking for homes under $225K. Homeowners can go a little higher, but you can find renovated homes in this neighborhood for the mid-$300Ks.

1. trinidad resident said at 9:04 pm on Tuesday July 3, 2012:
   the mid 300k days for renovated houses in this neighborhood are over. a year ago they were in the 390k range and last interior row house a little further north sold for 410k. 300k is a little much but it's an end unit and the last two gut jobs sold for 330k so this may be the new price point. get it while the gettin is good. it's on a pretty good block, too. you can totally gut and redo for about 80k (did it) assuming no problems with the foundation.