1st & Q.

Originally uploaded by In Shaw

55 Q Street NW is up for sale but I was not entirely sure this was the same house. Why? Because the photo being shown on ZipRealty is a crappy magneta colored ugly thing from 2003. I’m encountering a lot of bad re-used photos on Ziprealty. Redfin is better. Anyway this house on the corner is going for 1/2 a milllllion dallahs, $500K.
It is a two unit building, a trend I noticed with some of the turn of the century homes that were built as investment properties. The rental units are bringing in $1340 & $1215 a month, $2555 in total. You’d need a big down payment to get the rentals to cover the price of the mortgage. People you wonder why renters get kicked out? Because their rent don’t cover the mortgage and taxes.
Sorta on the other side of the street is 1537 1st St NW at the much cheaper price of $299K. And, it has parking.

34 Q St NW 4Sale

Originally uploaded by In Shaw

I’m not sure which house is 34 Q. Actually, I’ve been flipping through my flickr collection and trying to match up houses for sale, and I really need to take more pictures…. and do a better job of taking the addresses.
From the description, I am guessing it is a short sale as the bank has to approve the price. But what you get for your $305,000 is a 10 bedroom 3 bath, 3500 sq ft vacant building with taxes high enough to make you cry if you keep it vacant. The price is a significant reduction from the $550K it started off as back in July of 2007. And the seller is taking a big hit as it was purchased in 2006 for $685K. *wince*