The concept of a “starter home” — one that first-time buyers would purchase to begin building home equity — is not always popular in an area where even starter homes are priced in the $300,000s. Some buyers prefer to wait and save until they can afford a “forever home” rather than buy a first home, sell it in a few years and move up.

For buyers who want to start with something smaller or more affordable, a 744-square-foot single-family house is available at 10920 Oakwood Dr. in Fairfax City for $379,500. The house initially was priced at $392,500. Annual property taxes are $3,613. There are no homeowner association dues to pay.

The median sales price in July in Fairfax City was $509,000, according to Bright MLS, so this house is substantially below the median for the area.

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Built in 1950, the two-bedroom, one-bathroom house is being sold as-is, which means that buyers won’t be able to negotiate based on the condition of the property. However, buyers can request an informational home inspection. The house includes a stacked washer and dryer, a dishwasher, refrigerator and stove, but the kitchen could use upgrading.

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The living room has hardwood flooring and the bedrooms are carpeted. Air conditioning is supplied by window units and ceiling fans, and the house has natural-gas heat and hot water.

To build equity faster and therefore increase the profits of a future sale, buyers may wish to consider adding a second floor or doing some other type of expansion. The backyard has space for an addition and includes a deck, a detached one-car garage and a shed.

Assigned schools include Providence Elementary, Lanier Middle and Fairfax High. The elementary school is rated below average by GreatSchools.org, the middle school is rated average and the high school is rated above average.

For more photos, click here.

For more information, contact Claudia Keller, a real estate agent with Century 21 Redwood Realty, at 703-431-5407.

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