This classic brick rowhouse in the capital of the United States is currently listed for $468,900. It has been on the market for over seven months, and has seen a long series of price cuts. Its location in the Old City neighborhood, near the edge of Capitol Hill and Kingman Park makes it a convenient residential location in close proximity to shops and restaurants, and the area has been going substantial gentrification in recent years. The foreclosee paid $695,000 for this property less than two years ago (12/15/2006). Zillow.com estimates its current value to be $660,000.This house could likely be leased for $3,000 to $4,000 per month, so it would probably not be a good opportunity for an investor looking for rental property. This house could be a great opportunity for an owner-occupant seeking a spacious renovated house in an up-and-coming area, however. This REO is in good condition overall and will need little more than paint and a few minor updates before occupancy. The fact that it has been on the market for so long will probably scare away many buyers… it probably was over-priced to begin with, but now that its listing price is so much lower, it is worth a look.
The basics...
Address: 1439 G Street NE, Washington, DC 20002
Current Listing Price: $468,900
PREVIOUS Sale Price: $695,000 (12/15/2006)
Size: 3 Bedrooms, 3 Bathrooms; 1,414 square feet
Lot: .02 acres
http://www.realtor.com/realestate/washington-dc-20002-1093786811/
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