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286 N Street Sw
Washington, DC 20024
$5,000
Conventional
Property
Bedroom
4
Bathroom
2
Property Type
Conventional
Square ft
2133
Property Description
Amazing opportunity to live in a family-friendly, safe, co-op community in booming SW/Waterfront. THE HOUSE: 3-level end-unit townhouse, spacious and modern, filled with light, completely renovated just two years ago. Beautiful wood laminate throughout. Walk in on main level to an open-plan kitchen/dining/living room. The kitchen is quartz countertops with waterfall edge and recessed lighting, stainless steel appliances; the dining area has huge windows that let in light, while privacy is ensured by window treatments that make tiny rainbows in the afternoon. The living room area opens, via three glass pane doors, to the patio, a green space with a beautiful tree that is home to cardinals, blue jays, and woodpeckers, among other lovely birds. Upstairs are three bedrooms and a bathroom. Each bedroom has a ceiling fan, lots of light, and ample closet space (the master has a custom-designed, The Container Place closet). The basement level is fully finished, with an entire wall covered with custom Container Place shelving perfect for toys, books, or crafts, and built-in workspace. It can be used as a spacious 4th bedroom, an office space, or a playroom. A separate adjoining room has more shelving and storage space, as well as a high-end washer & dryer. In front of the house is a young fig tree that provides delicious fruit seasonally! On the side of the house are three planting bins where you can have your own vegetable or flower garden. THE COMMUNITY: River Park is a gorgeous gated cooperative community that was founded in the 1970s and designed by renowned architect Charles Goodman. Within the community are two high-rise condo buildings as well visually stunning townhouses that call to mind a settlement on Mars with their distinctive shiny dome-shaped rooftops. All residents have access to amazing shared amenities, including: an outdoor pool, large and very comprehensive fitness center, green spaces, grill & picnic area, a playground, a wood workshop, indoor spaces available to rent out for a small fee, a piano room, on-site 24/hour front desk concierge and mail room (with bins for outgoing mail as well), online forums to post ads, donate items, discuss the neighborhood, etc... For owners, this comes at the price of a very hefty HOA, but as a renter, you will get it all without having to worry about the long-term financials, mortgage, etc. Kids can run/bike around the community freely and safely... YOU CAN'T BEAT THESE AMENITIES!! Check it out: River Park DC dot org. THE NEIGHBORHOOD: SW/Waterfront is one of DC's hottest neighborhoods. Waterfront Metro station is a 4-min walk from the house; there's bus service everywhere as well as bike shares, you can walk to the National Mall... Theaters, sports arenas (walk to the Nats stadium!), restaurants... you name it, SW DC has got it. WHAT'S INCLUDED IN THE MONTHLY RENT: EVERYTHING! Except for electricity.
Property Information
Lot Size
-- square ft
Property Type
Rental
Year Built
1962
MLS Number
DCDC2139510
Location
Address
286 N STREET SW
City
WASHINGTON
State
DC
Zip Code
20024
County
WASHINGTON (SE)
Listing
Provider
Berkshire Hathaway HomeServices PenFed Realty, original listing
Name
Berkshire Hathaway HomeServices PenFed Realty
Phone
(866) 225-5778
Office Name
Berkshire Hathaway HomeServices PenFed Realty
Office Phone
(202) 608-1880
Agent Name
Phil Snedegar

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.