Deal of the Week: Positively 5th Street

• January 28, 2013
• 2 Comments

by UrbanTurf Staff

1535 5th Street NW

With housing inventory as low as it is in the DC area right now, it can be tough to find bargains (hence, the reason you haven’t seen many Deals of the Week recently). But we imagine that the living room of this week’s installment was well-traveled on Sunday afternoon.

The 1,200 square-foot, two-bedroom row house on 5th Street NW has a long main floor with French doors that separate the kitchen from the living/dining area. Upstairs are a large master bedroom with a walk-in closet and a second, smaller bedroom. The full bathroom on the second floor has been renovated, as has the kitchen and the home was completely re-pointed in 2005. Out back is a large patio and storage shed.

Two years ago, this probably wouldn’t have been a bargain at $415 per square foot, but these days that metric puts it squarely in bargain territory for the neighborhood. Problem is, given the competitive level of the market these days, this home will likely be purchased for a decent chunk above its asking price.

More details and photos below.

Living Room

Dining Area

Bedroom

Rear Patio

• Full Listing: 1535 5th Street NW (map)
• Price: $499,555
• Bedrooms: Two
• Bathrooms: 2.5
• Square Footage: 1,200
• Listing Agent: David Getson, Coldwell Banker

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 3.5 percent.

• Loan Amount: $400,004
• Principal and Interest: $1,790
• Property Taxes: $296
• Total Monthly Payments: $2,086

Photos courtesy of HomeVisit.

This article originally published at http://dc.urbanturf.com/articles/blog/deal_of_the_week_positively_5th_street/6572

2 Comments

1. Admo Jo said at 6:38 pm on Monday January 28, 2013:
   I was visitor #48 of this property on Sunday said the realtor. The place was OK, there most definitely will be a bidding war for this modest structure. The market is flooded with prospective buyers right now.

1. Js said at 3:12 pm on Tuesday January 29, 2013:
   I saw this place right away, and it is nice but needs a major kitchen remodel that would cost at least 20k, unless you can get by on a few square feet of counter space. There are several other odd things that most owners would fix to the tune of a few more thousand. With the bidding war that is sure to take place, the renovation cost will likely put the cost of this home above what it is actually worth in a less rabid market. May be a dicey investment.