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Three Areas Lead The Way For Home Flipping In DC

  • September 24th 2024

by UrbanTurf Staff

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20011.jpg
Homes in 20011.

Home flipping continues to lose steam in DC, but there are still pockets where flippers are making good profits. 

According to a new report from ATTOM, there were three zip codes in DC where flipped homes in the second quarter saw profits of at least $238,000: 20002, 20011, and 20019. The 20011 zip code (Brightwood, Crestwood, Petworth, Fort Totten) led the way 11 flips and an average gross profit of $377,000. 

The 20019 zip code (Deanwood, Marshall Heights, Benning Ridge) saw 8 flips with a gross profit of $249,000. In the 20002 zip code (Eckington, Ivy City, northeast Capitol Hill), there were also 8 home flips, with average gross profits of $238,000. 

To see ATTOM's full report, click here. 

The report identifies flips as the same property selling twice within 12 months. Gross profit is calculated as the difference between the original purchase price and the second sales price. Rehabilitation costs and associated expenses are typically 20-33% of home value after repair.

See other articles related to: dc home flipping

This article originally published at https://dc.urbanturf.com/articles/blog/three_areas_lead_the_way_for_home_flipping_in_dc/22745.

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