In Multiple Bids, UrbanTurf showcases homes on the market that we think will attract the attention of several buyers. This week, we look at a three-bedroom rowhouse in Truxton Circle priced so low that prospective buyers have been entering the home every time UrbanTurf has passed by in recent days.
Located one block from Big Bear Cafe, the home is a foreclosure that has been vacant for years and appears to have been abandoned in the middle of a renovation. From the photos, the listing looks to have solid hardwood floors, some new features and appliances in the kitchen and the bathroom, and attractive windows.
For the past two years, the house has come on and off the market, with at least two contracts falling through. The strikingly low asking price — similarly sized homes in the neighborhood have been selling in the $600,000 range, even when they need work — makes us wonder if there is a deeper story here. Are there some less obvious problems keeping buyers away? Why was the renovation abandoned, and why did the contracts fall through?
Regardless the issues, the home will likely go under contract soon. The seller will be considering contracts late Tuesday. More photos and details below.
UPDATE: The agent tells us that the home received 26 offers, and was shown by a total of 139 agents since it was listed.
- Address: 221 R Street NW (map)
- Price: $364,900
- Bedrooms: Three
- Bathrooms: 1.5
- Year Built: 1910
- Listing Agent: Benjamin Puchalski, Rock Creek Realty
This article originally published at http://dc.urbanturf.com/articles/blog/multiple_bids_half-finished_and_priced_low_near_bloomingdale/7781
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
A look around DC to see where home sellers are dropping their prices.... read »
Just a month after setting a new high in March, the value of a house in DC skyrockete... read »
The new five-level residential project is planned for the buildings at 1365-1375 H St... read »
The grocer has announced plans for other stores in Skyland and Columbia Heights.... read »
Our guide for amateur landlords who don't really know what they're doing.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The eight-bedroom, 35,000 square-foot home known as The Cliffs hit the market Wednesd... read »
Brookfield Properties is moving forward with development plans for additional sites i... read »
The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... 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