Colin’s “Catch of the Day”: NW DC Rehab Shines… and Sells

For today’s “Catch of the Day” I wanted to illustrate a point that I often share with folks about the DC rehab market, most specifically, the market for row house rehabs.

This 3br 2 bath (now, was 1 bath) home in Columbia Heights sold in May of this year for $205,000. Now, 5 months, 1 additional bath, and a full rehab later it is on the market for $395,000. Not only that, the rehabbed listing was under contract after just 8 days on the market.

My uneducated guess is that roughly $150,000 went into the rehab, if that. So you are looking at a potential $40,000 profit for this investor, depending on the offer value.

The DC row home rehab market continues to be very profitable for investors, and a stable environment for purchasers looking to occupy the property because they are immediately able to insulate with equity once the project is completed.

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