5 best neighborhoods to flip for under 200K in DC Metro Area

Flipping houses could be terrifying, especially when you do it in the D.C. Metropolitan Area. The market is too crowded with new investors excited by HGTV flipping shows. Moreover, the average price tag of distress properties is way above the national one.

However, this is a great business, and you do not have to be discouraged. We write this article thinking in everybody that want to start but does not know where. Here are the five best neighborhoods to flip properties for under $200,000.

Deanwood

The most affordable neighborhood in District of Columbia

Median home price: $ 285,176
Investment price range: $150,000 – $199,000
Inventory Size: Fair
Zip code: 20019

Deanwood is a community in transition. It is one of the last affordable localities in DC to invest and is perfect for families on a budget that want to remain in the city. The median real estate price is $235,639, which is 47% price lower than the rests of the district and is 87.4% more inexpensive that the other properties in District of Columbia.

The neighborhood has dwellings that vary from detached single-family homes to townhouses, duplexes, and a few apartment buildings. The size of the properties typically goes from 900 to 1,400 square feet, but it compensates with huge yards.

You can find properties in the range of $150,000 to $199,000, but you have to worry the inventory is getting low rapidly. After you fix the perfect house, you could ask up to $400.000.

Oxon Hill - Glassmanor, MD

Exciting devolvement and a huge inventory

Median home price: $ 257,900
Investment price range: $75,000 – $180,000
Inventory Size: Very Good
Zip code: 20744, 20745

Median real estate price in the Oxon Hill - Glassmanor is $237,631, which is more expensive than 41.9% of the neighborhoods in Maryland and 71% of the neighborhoods in the U.S.

Real estate in Oxon Hill - Glassmanor primarily consists of garden apartment communities along with single-family detached homes dating mostly from the 1940s through the 1980s. The city, in my opinion, has the largest inventory of investment properties in all Prince George County.

Another fact to consider and the reason why we like so much this area is that the demand for real estate in Oxon Hill - Glassmanor is above average. All of this thanks to the new development in the zone like National Harbor and new luxury casino.

Capitol Height

The most inexpensive investment properties in the D.C. Metro Area

Median home price: $212,100
Investment price range: $70,000 – $135,000
Inventory Size: Very Good
Zip code: 20743

Located right next to the District, Capitol Heights has the most inexpensive properties on the list. The price range starts around $70.000 (you could find properties for $50.000) to $135.000. After repair, the right home could be sold in the low $200.000’s.

Mostly built after World War II, the Capitol Heights housing stock largely consists of relatively small (two or three bedrooms, and often only one main floor) Cape Cods, bungalows, frame houses, and ramblers. They are in a variety of conditions — some very well maintained, others hastily patched together with a variety of materials. However, the most important fact that you need to know is that the area is very active, daily properties get out to the market at perfect prices.

Camp Springs

Affordable big yards with Base Andrews in the next corner

Median home price: $292,100
Investment price range: 150,000 – 135,000
Inventory Size: Very Good
Zip code: 20746, 20748

Placed nearby Joint Base Andrews, Camp Springs is an established white collar community. Camp Springs is, in my opinion, one of the best areas to invest in the DC metro area, and you can do it for way less than $200,000. For this amount, you could buy a 1500 – 2000 square feet house with almost an acre of land. After the repair, houses value goes to in the range of 280,000 to 315,000.

In addition, these properties sell fast; generally, the do not last more than two weeks in the market. The appealing of these houses came from their location. Joint Base Andrews, home base of the Air Force Systems Command and the official presidential airplane Air Force One, is adjacent to Camp Springs, and the base in particular, along with federal jobs in Washington, D.C., were major reasons for the community's original development. The Capital Beltway passes through the area, and the Washington Metro Branch Avenue station is adjacent.

Hyattsville

One of the most trendy neighborhoods in the metro area.

Median home price: $285,500
Investment price range: $150,000 – $199,000
Inventory Size: Poor
Zip code: 20781, 20782

The trendy Hyattsville is still reasonably priced. You could find charming cape cods and Victorians in the low $400,000’s range. The city has great spaces, and it sells itself as an art district. As a result, the properties flies in this area; in fact, the price jumped more than 5 percent last year. The only problem that you will discover is the lack of inventory; at the time of writing this blog entry, there were only five investments properties below the 200,000’s.

Moises Granda, Realtor and Investor