The Weekly Foreclosure

by Joe Marhamati

543 24th Street NE

UrbanTurf is debuting a new feature today called The Weekly Foreclosure. This column will highlight bank-owned properties around the DC area that we believe may appeal to UrbanTurf readers. In some cases, these properties are in need of major renovation, others may require moderate sweat equity, and some may need nothing more than a dustpan and a mop. A few properties will have information readily accessible for us to present, while others will require a pioneering spirit to venture in and see if we’ve truly spotted a gem.

Today, we look at an 896 square-foot two-bedroom, one-and-a-half-bath house in the Rosedale neighborhood of DC on the fringe of Hill East. The house is boarded up and will likely require a fair amount of work (photos of the interior are currently unavailable). Neighbors of the property tell UrbanTurf that it has been abandoned for nearly two years, but that an offer had recently been made on the home. Zillow.com notes that the house is “more than a shell” and while renovations were started at some point, they were never completed. As with many foreclosures, this is a cash-only deal and is being sold as-is.

The house is currently listed for $62,000, a potential steal if you consider that the 2010 assessment is four times this amount. Despite presenting possible challenges in transportation in the short term, the area around Benning Road that this home straddles has had its portion of the much-anticipated streetcar rails completed. Though it may require some work to get the property into shape, for the value-minded golf enthusiast, the home may be a dream: It is nearly across the street from the Langston Golf Course where you can play nine holes for just $15.

543 24th Street NE (map)

  • Price: $62,000
  • Bedrooms: Two
  • Bathrooms: 1.5
  • Square Footage: 896
  • Type: Row House

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This article originally published at https://dc.urbanturf.com/articles/blog/the_weekly_foreclosure/2000

1 Comment

  1. swester said at 11:56 pm on Thursday April 22, 2010:

    Damn, $62,000 is a ridiculously low price, even for just the land itself. 

    If I had more liquid cash (and a more adventurous spirit), I’d buy it, hold for a while, finish the renovations and rent it until it’s worth about $350,000.

Comments are closed.

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