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4321 8th St NW
Score
0
Washington, DC

4321 8th St NW

700K
3 bd • 1 ba • 1,200 sf

This analysis was generated on 2/19/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$700,000

Price/Sq.Ft

$583

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• The price per square foot ($583.33) is relatively competitive compared to the average home price in Washington, DC, potentially offering an affordable entry point into the market. • The property has three bedrooms, which is suitable for small families or those who need extra space for a home office or guests. • The median income in the area ($86,614) suggests a stable and desirable neighborhood. • Rental rates for similar properties (3-bedroom) in the area are strong ($2,299/month), indicating potential rental income for investors.

The Bad

• The lack of property details (no description, room details, or utility information) raises concerns about transparency and may require further investigation. • The single bathroom may be a drawback for some buyers, especially families. • The absence of listed property features makes it difficult to assess the property's amenities and overall value compared to similar homes in the area. • The unknown age of the property is a concern, as older homes may require more maintenance and repairs.

The Ugly

• The lack of off-street parking could be a major inconvenience in a dense urban area like Washington, DC. Street parking may be limited and require permits. • Without knowing the age and condition of the property, there's a risk of unexpected repairs and maintenance costs, which can be significant in older homes. • The high cost of living in Washington, DC, combined with potential renovation expenses, could make this property unaffordable for some buyers. • Assuming a 20% down payment ($140,000) and a 7% interest rate, the estimated monthly mortgage payment would be approximately $3,662. Adding property taxes (estimated $319/month) and homeowner's insurance (estimated $150/month) brings the total monthly housing cost to over $4,131. This does not include potential HOA fees or maintenance costs.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Homebuyers comfortable with older homes who appreciate historic charm and are prepared for potential renovations. • Buyers seeking a relatively affordable entry point into the Washington, DC housing market, especially those considering a property with rental income potential. • Individuals who value proximity to urban amenities, public transportation, and neighborhood character within the District. • Those who can manage the estimated monthly costs of $4,500+, assuming a 20% down payment, a 7% interest rate, and including property taxes and insurance.

Not For

• Buyers seeking a modern, move-in-ready home with updated features and minimal renovation needs. • Individuals who require ample living space or multiple bathrooms, as the property has only one bathroom and a relatively small square footage. • Those who prioritize off-street parking or a large yard, as the property appears to lack dedicated parking and has limited outdoor space. • Buyers on a strict budget who cannot afford the high cost of living and potential renovation expenses in Washington, DC.
Demographics
Area Median Income

$86,614

Property History

Price History
Ownership Timeline
$646,999Financed
Apr 14, 2020
Elizabeth Ann McgeheeLauren Marie Simmons, Benjamin Roy Simmons
Special Warranty Deed
Standard Sale (Purchase/Resales)
$535,000Financed
May 26, 2016
James W FleetElizabeth Ann Mcgehee
Special Warranty Deed
Standard Sale (Purchase/Resales)

Sunlight Analysis

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Sunlight Analysis

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Risk Assessment

Risk Analysis

• **Unknown Age and Condition:** Without knowing the exact age of the property, it's difficult to assess its overall condition and potential for future maintenance issues. Older homes may require more frequent repairs and updates, which can add to the total cost of ownership. • **Single Bathroom:** Having only one bathroom may be inconvenient for larger households or those who value privacy. • **Limited Property Information:** The lack of detailed property information (features, room details, utilities) makes it challenging to fully evaluate the property's value and potential. • **Competitive Market:** The highly competitive DC real estate market means that buyers may need to act quickly and make offers above asking price, potentially leading to overpaying for the property. • **Renovation Costs:** If the property requires significant renovations, the costs could quickly escalate, especially in a high-cost area like DC. It's essential to obtain accurate estimates from qualified contractors before making an offer.

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Schools

Showing top 5 of 9 schools

West Education Campus

PublicGrades PK-8
8/10
ElementaryMiddle
330 students

Whittier Education Campus

PublicGrades PK-8
8/10
ElementaryMiddle
325 students

Truesdell Education Campus

PublicGrades PK-8
8/10
ElementaryMiddle
698 students

Barnard Elementary School

PublicGrades PK-5
8/10
Elementary
642 students

Bruce-Monroe Elementary School @ Park View

PublicGrades PK-5
8/10
Elementary
473 students

Financials

Monthly Costs
Market Rent (3 bed)

$2,299

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$700,000
Price/sqft
$583
Layout
3 bd1 ba

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$531,500

31.7%

Your price is 31.7% above average

Median Price

$524,000

33.6%

Based on 6 recent sales

Price per Sq.Ft

$432

35.0%

Your price is 35.0% above average $/sqft

Comparable Properties

623 GALLATIN ST NW, WASHINGTON, DC 20011
Price: $515,000
Sq.Ft: 1,187
Beds/Baths: 2/1
$/Sq.Ft:
$43425.6%
Sale Date: 11/7/2024
5027 7TH PL NW, WASHINGTON, DC 20011
Price: $490,000
Sq.Ft: 1,400
Beds/Baths: 4/1
$/Sq.Ft:
$35040.0%
Sale Date: 11/20/2024
5026 7TH PL NW, WASHINGTON, DC 20011
Price: $524,000
Sq.Ft: 1,350
Beds/Baths: 3/1
$/Sq.Ft:
$38833.5%
Sale Date: 8/24/2024
1651 LAMONT ST NW #1E, WASHINGTON, DC 20010
Price: $560,000
Sq.Ft: 969
Beds/Baths: 2/1
$/Sq.Ft:
$5780.9%
Sale Date: 9/4/2024
444 LAMONT ST NW, WASHINGTON, DC 20010
Price: $510,000
Sq.Ft: 1,331
Beds/Baths: 3/2
$/Sq.Ft:
$38334.3%
Sale Date: 1/23/2025
4014 GEORGIA AVE NW #401, WASHINGTON, DC 20011
Price: $590,000
Sq.Ft: 1,290
Beds/Baths: 2/2
$/Sq.Ft:
$45721.6%
Sale Date: 12/10/2024

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