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Saturday, May 24, 2008

Buy Me: Deja vu

Remember this report about a Craigslist posting advertising the sale of 1546 8th Street last year? Well yesterday I found this Craigslist posting advertising that 1546 8th Street is again for sale, only this time for just $299,000 (last year it was marketed at $500k). Here's the text of the ad, with the contact info. deleted (email me if you'd like me to send it to you -- slumhistorique at yahoo dot com -- after the posting expires):
$299000 Rehab Property for Sale (NW - Shaw)
Distressed 2 BR, 1.5 BA rowhouse with finished basement--For Sale By Owner. Very close to Metro, shopping, and Convention Center. Property can be made livable, but ideally needs major renovations by investor or real estate developer to make this property comparable with other $500K+ houses on the block. Looking for a quick and uncomplicated cash sale.
At $299k, this seems like a well-priced rehab property. The location is excellent, the block is great, and the potential is boundless (I personally envision a really modern, 3 story addition in the rear with a roof deck over the existing structure).

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