Sunday, October 23, 2005

Washington, DC: 1668 Oak Street NW


The townhouse located at 1668 Oak Street NW is for sale at $621,000. The ad states "This 2 – 3 BR, 2.5 BA townhouse condominium is equipped with all stainless steel appliances including a thermoelectric 12-bottle wine cooler. Three levels with dramatic views of Rock Creek Park, hardwood floors and fireplaces in both the living room and master BR complete this unique property. Within walking distance to the Columbia Heights metro; minutes to Adams Morgan and downtown. Assigned parking space included and guest parking access. A SIMILAR UNIT SOLD FOR OVER $630K!!!!! "

I checked the DC Real Property Website and found out that the property was sold for 312,000 on 3/28/2001. So the price this townhouse is being offered at is basically twice the price that it was bought for 4.5 years ago. Wow.

3 comments:

  1. The townhouse is very attractive- but for the price mentioned- it is too much $$$$$.
    The price of a few years ago in the 300 thousands was fair- I would say the true value today is perhaps 170K too much. That is a big chunk of change.

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  2. 621k is cheap considering you could walk to Millie and Al's for a pitcher of Bud Light!
    ....just kidding.

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  3. I don't know.... a few blocks from Columbia Heights metro means more crime than I want for $600,000.

    I would be hesitant at $300,000 (this is a townhouse, after all). But I just laugh at $600,000. Not to say it isn't nice, but you do have to consider price. At $300,000, you are making a pretty big bet that the nearby neighborhood turns around. It may... but I would want the seller to assume more of that risk by taking a lower price.

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