Good First House In Virginia (Close To DC)

Good First House In Virginia (Close To DC)

Member since 2019 · 9 posts · 2 votes

I've been looking to get a first primary residence near DC to stay close to family on the Eastern Shore and own my first place + have a good investment (I just want to wake up in a house and know it is mine...like that feeling of being an owner & knowing tenants are helping pay down the investment).

I want to live in one unit and rent the other units out (to cover the payment), though I could cover the payment at any time for a couple of years.

I've heard good things about Herndon (I saw it is close to Dulles Airport which is good since that isn't going to go away), but those prices are a bit expensive and worry me especially with everyone synonymously agreeing that real estate prices are at all-time highs and inventory at all-time lows. Richmond as well, etc.

It'd be nice to get a place that has these characteristics:

    • $350,000 - $400,000
    • Stand-alone home (not a townhouse)
    • 4-5 bed, 2-3 bath
    • Strong renters market
    • ~30 minutes by car to DC
    • Good garage (2 cars wide & driveway)
    • Safe neighborhood
    • Good job market & public services

I'm not sure where to look and don't have an agent. I'm just loosely interested right now and will likely start searching more near November end.

Thanks for the help!

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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
5y

At your price range, Id look at a single family in Hyattsville. 

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  • Rental Property Investor · Manassas VA / Columbus OH /St. Johns FL · Member since 2017 · 86 posts · 25 votes
    5y

    We rarely see Multifamily Houses (Duplex,Triplex,fourplex) in NoVa. Considering your Location/Requirments and Price Range I don't think you will find anything on MLS. You need to look for offmarket properties which need serious rehab.

  • Member since 2020 · 1 post · 0 votes
    5y

    With that price range, if you're looking into a move in ready house that's not too dated, you may not be able to find a stand alone house in Herndon or immediately surrounding areas. I live in Prince William County and that's where you may be able to find something in that range! Prince William is a good compromise though. It's about 30-45min away from DC, but with traffic will definitely be longer. There is the VRE and the metro, so that may be helpful for you. Renters market is strong in this area too! Safe neighborhoods and good schools in this area too! 

    Hope this helps! I do know a lot of realtors in the area if you need assistance! 

  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y

    At your price range, Id look at a single family in Hyattsville. 

  • Real Estate Agent · Reston, VA · Member since 2017 · 296 posts · 163 votes
    5y

    @Benyam Ephrem Herndon is a great area with a strong rental market. Better yet, you will have the silver line metro that is already running from that area but will be opening more stations. Having said that the challenge will be a finding a single home at that price. There are however lot of areas that places that you could find a single home. 

  • Real Estate Agent · Washington, DC · Member since 2017 · 109 posts · 93 votes
    5y

    @Benyam Ephrem

    If you jump from 400 to 500 you have dozens more options in NoVa in Alexandria, Falls Church, Annandale and Springfield for single family homes with a potential for house hacking and or renting out the basement. Is your budget fixed? 400 will be tough for a stand-alone home in NoVa for house hacking unless you’re going to target off market deals.

  • Real Estate Agent · Springfield VA · Member since 2018 · 480 posts · 400 votes
    5y

    @Leo Watts I just adding a little extra info in here if it is move in ready it would be closer to the 600k in the areas @Leo Watts mentioned. Also, unless you get approved for an ADU it is not likely you will be able to cover all your mortgage if trying to buy with a low downpayment.

    The ADU regulations are in the process to change for the better opening up more possibilities. At your price range, you would need to buy a fixer upper and add a sizable amount of $$ in renovations. Even a fixer upper would be pretty difficult to find to be honest.

  • Real Estate Agent · Washington, DC · Member since 2017 · 109 posts · 93 votes
    5y

    @Joaquin Camarasa

    Here’s the type of property that would fit OP’s budget.

    https://www.homesnap.com/VA/Alexandria/2720-Memorial-Street?a=478491931

    It's important to run the numbers based on renting out two rooms upstairs and then renting the basement, although likely not fully separated, depending on zoning and ADU regulations as Joaquin mentioned.

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