Buyers on a budget often think a newly built house is out of reach, but even in an expensive housing market like the District, it’s possible to buy one. The median sales price for a residence in the District was $578,858 in October, according to Bright MLS, well above a budget that maxes out at $400,000. Buyers willing to compromise a little on size and choose a condo still may be able to buy something new and take advantage of the fact that newly constructed buildings typically have lower utility costs and require less maintenance.

For example, the 13-unit condo building at 1331 K St. SE includes five units priced at $400,000 or less. Condo fees for those units are estimated to be $180 per month and include building maintenance, water and gas. Property taxes are estimated to be $2,693 annually.

The condo is within a short walk of the Potomac Avenue Metro station for Blue, Orange and Silver line service. Shops and restaurants, including Barrack’s Row and Eastern Market, are also within walking distance.

The condo units have open floor plans with recessed lighting, stainless-steel appliances, gas cooking, and an in-unit washer and dryer. Parking is not included, but a space can be purchased for $30,000. Pets are allowed in the building.

Available units priced at or under $400,000 range from 539 square feet for a one-bedroom, one-bathroom to 400 square feet for a studio. For example, the one-bedroom, one-bathroom Unit 201 has 522 square feet. The open kitchen includes a breakfast bar; the bathroom has a combination tub and shower; and the bedroom has a double-door closet.

Larger units range from $450,000 for 824 square feet with two bedrooms, two bathrooms and a patio to $800,000 for 1,350 square feet with two bedrooms, a den, three bathrooms and a roof deck.

Assigned schools include Tyler Elementary, Jefferson Middle School Academy and Eastern High. The elementary school is rated five out of 10 by GreatSchools.org; the middle school is rated six out of 10; and the high school is rated four out of 10.

For more information, click here or contact Trent Heminger at 202-210-6448 or D’Ann Lanning at 951-315-6534, both agents with Compass real estate brokerage.