Rising home prices for the past couple of years, a function of increased demand and a limited supply of listings, have left many first-time buyers frustrated. The median sales price for a home in D.C. was $705,000 in October, according to Bright MLS. Buyers looking for a smaller home are more likely to find options under $400,000, while anyone searching for a two- or three-bedroom will face challenges.
For example, the condo at 1605 E St. NE #1 in the Kingman Park neighborhood of Northeast Washington is priced at $385,000. Monthly condo fees are $201 and annual property taxes are $2,374. The condo fee pays for water, sewer and common-area maintenance services, as well as insurance. Only on-street parking is available.
Renovated in 2018, the condo is about one mile from restaurants, shops and bars in the H Street corridor, as well as Lincoln Park, RFK Stadium, the Stadium-Armory Metro station and the Langston Golf Course. The Rosedale Recreation Center is approximately a half-mile away.
The 700-square-foot condo on the first floor has one bedroom and two bathrooms. The open floor plan has wood floors, recessed lighting, deep baseboard moldings and pendant lighting in the kitchen. The kitchen includes stainless-steel appliances, white cabinets, a glass tile backsplash and a breakfast island with storage on both sides. A powder room is available for guests.
The bedroom includes a walk-in closet and a private full bathroom. The home has been wired with surround sound and has both a video doorbell and an intercom system. This condo also has a washer and dryer, gas heat and gas water heating. The back door leads to a private patio with room for a fire pit.
Assigned schools include Miner Elementary, Eliot-Hine Middle and Eastern High. All three schools are rated below average compared with other schools in D.C. by GreatSchools.org.
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For more information, contact real estate agent Traci Johnson with Compass at 703-239-3082.