2034 1st Street NW
For those investors who may be interested in this installment of Deal of the Week, UrbanTurf’s advice is proceed with caution.
The listing is a Bloomingdale row home on 1st Street NW, which is part of an estate sale and needs to be completely rehabbed. In fact, the warning above comes from the listing description which notes that interested parties should bring a flashlight and “watch your steps!!!!” an indication that the interior is not very safe for people to walk around in. What’s more is that only cash offers are being entertained, a stipulation that basically limits the buyer pool just to investors.
Despite the warnings and restrictions above, the sizable property and its location make it a good deal for the right buyer, and based on the demand for properties like this in the District, we suspect a bidding war will likely ensue. To give a sense of the home’s return-on-investment potential, a five-bedroom property a little farther north on 1st Street sold for about $680,000 late last summer.
More details below.
- Full Listing: 2034 1st Street NW (map)
- Price: $325,000
- Bedrooms: Five
- Bathrooms: Three
- Year Built: 1906
- Listing Agent: Juan Umanzor, Long & Foster
Update: The listing description said that offers would be presented on April 12, but it appears that there is already a sale pending on this home.
This article originally published at https://dc.urbanturf.com/articles/blog/deal_of_the_week_investors_proceed_with_caution/5392.
Most Popular... This Week • Last 30 Days • Ever
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
When sellers haven't quite lined up their next house before their settlement date com... read »
In this edition of First-Timer Primer, we look into the question of how to determine ... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
Here's what you need to know about reporting profit made from the sale of your home.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
A recent transaction shows that the housing market isn't cooling off everywhere.... read »
Developer Akridge has released new images of their planned Burnham Place development ... read »
The new development will also have a nearly 20,000 square-foot public plaza.... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro