It was a lovely Sunday afternoon in DC. The neighborhood, Shepherd Park, is the very northern part of the city of Washington. The house is a fully renovated cape cod. It is a wealthy neighborhood that is near a lower middle class neighborhoods.
I went to visit an open house there. From the outside it did not look so big. The inside however, had 3373+ Square Feet. A completed basement. "3 - 4 bedrooms" = depending if you count the basement downstairs. Granite countertops ( absolute must). MLS #DC5379141
The realtor told me an investor had bought it in February for 565,00 ( this is true as I confirmed it from a public DC government database) and that he had invested about 200K into the house. He wanted 877K for it now. Alright.
The realtor, said "one of the houses that is a joy to show." that's a nice chunk of commission.
When I walked out of the house the investor showed up and I started chatting with him. I praised the lovely job he had done renovating the house and asked him how much he had spent. "oh 150K." Wait a second, the realtor told me that 200K had been spent renovating. Hmm.
Anyway, the realtor said that if the house does not sell by Thursday then the investor may decide to live in it. The investor confirmed this.
Picture of house before renovation.
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