All Forum Posts by: Justin Carter

House is only $130K. I think I am going to pull out. 

Appreciate your advice. I’m considering hiring a mason or a structural engineer to come take a look. Based on the above pictures, would you walk away from this deal? I know there are a ton of other factors to consider, but just wondering how often you guys consider the condition of the brick when making an investment decision. It doesn’t look THAT BAD but I am not a mason professional. 

Hey guys! Got an inspection done on a property and the inspector noted deterioration in certain areas of the brick. This looks like brick veneer from my perspective but I could be wrong. 

Interested in everyone’s thoughts on this one. Does this look like it could potentially be related to foundation issues OR maybe just water damage? Would you allow this to deter you from purchasing? Inspector suggested it’s a big concern but I can’t tell. 

The below pictures are mainly the only areas where the brick is affected. Also on the chimney as well. 

Thank you. Out of curiosity, do you have a view on the area in general? Would you consider it to be one of the areas of SE that will appreciate faster than others due to its close proximity to Capitol Hill, Anacostia, etc?

Russell - your insight was very helpful! I also looked at a few rent comps in the area and I agree with your sentiments on the rents. I’m struggling to justify the $799K purchase price on the earnings potential for this one. One of the owners is listing the 3 Br for rent at $3,600 which is ridiculously high! It’s been sitting for about 50 days…

If I were to move forward, the strategy here would have to be to house hack to reduce my living expense (vs living in the navy yard area now) and I’d have to live in the smaller unit to try and make this make sense. But agreed that the 2 Br is very small - the 2nd bedroom feels more like an office/ den.

May keep looking. 

Hello BP Community,

I am looking at a duplex in SE DC, right off of Pennsylvania Ave/Minnesota Avenue. The duplex is brand new construction and is being offered at $799K. I was thinking this could be a good house hacking opportunity. One unit is 3 Br 3 Ba with a rooftop deck and the other unit is 2 Br 2 BA. Redfin has classified the asset as being apart of the "Hillcrest" community and it's positioned right off of 295 and is a 3 minute drive from Capitol Hill. The developer built 8 of these townhouse duplex properties, 7 of which have already been sold, with sale prices ranging from $779K-$810K. Has anyone had any experience investing in this area and any idea how the neighborhood is? I personally thought that paying $800K for a duplex in this part of SE was a bit aggressive, but 7 other buyers felt otherwise so would love to get some other opinions. Based on what I've seen online, I think the 3 BR unit can go for $3K-3.3K in rent and the 2 BR could go for $2-2.5K in rent. 

Open to everyone's thoughts!