A rowhouse located at 313 17th Street SE is being offered for sale at 399K. The rowhouse is located in an area that has just started to gentrify. It was bought on 12/09/2004 for $199,440 . Some remodeling was performed. Will is sell for 400K in a reasonable amount of time? Not sure. It is 'cheap' compared to other rowhouses in solidly gentrified neighborhoods in DC. However, this area is just starting to gentrify. Plus, the outside facade does not look like a house that gentrifiers would typically buy. The gentrifiers would generally want to remodel the outside.
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"Just starting to gentrify" in SE might mean only three drive-by shootings a week.
ReplyDeleteI think Washington DC has one major thing going for it... as energy prices rise, housing close to the city and in the city will be more valuable. And DC used to have 800,000 people back in the 50s. (Now it has more like 5-600,000).
BUT, it will take a major effort to turn some of these neighborhoods around.
I live only three or four blocks from this house. And I agree, it is not the type of facade that will invite "gentrifiers." There are a lot of row houses like this one in the neighborhood that are "freshly renovated," for sale, and just sitting there. 17th Street is definitely borderline - there are no more drive-by shootings there, but probably the occasional mugging. It is also something of a traffic thoroughfare - heavily traveled, loud and smelly. But, a much better deal overall than David's post a few weeks back on the I Street house for $525. That is still crack city!!!
ReplyDeleteThis house is down to $350K now...
ReplyDeletehttp://www.shemaya.klar.pcragent.com/DC5475223