Fort Totten (House) or Carver/Langston (Condo)

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Fort Totten (House) or Carver/Langston (Condo)

Dee Shaun
Rental Property Investor · Member since 2019 · 25 posts · 12 votes

Hi all,

  I am looking to buy in either Fort- Totten or on 17th Street by the Carver/ Langston area.  However, I am leaning toward Totten because of the upcoming projects which includes an Aldi store some more apartments and townhouses.  The townhouses are supposed to be about 60-90 senior living and 130 or so for whoever.    

There is also a Modern apartment project that should replace the Rigs low income building.

Do you all believe this area has a good potential? 

I am shying away from the condo because of potential condo fee increase and the limitations or possibly the hassle it may bring. However this is the better area, closer to H Street and should be high demand.

Numbers makes sense on both,   key issue is that a condo may not appreciate well even in a desired area.

This is not a pure cash flow investment,  more like long term play for appreciation as long as rent covers expense I am okay with it.

Am I off on my analysis?

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  • Marielle Walter
    Investor · Washington, DC · Member since 2013 · 135 posts · 39 votes
    7y

    @Dee Shaun I think Fort Totten is a good pick, though it is of course a bit early to judge! I bought two investment properties in the area. I looked at all the neighboring neighborhoods are selling at 600,00+ per house, when in Ft. Totten you can still buy for 450,00-500,000. The way i see it, with all the new build happening, it is only a matter of time. The one i bought a few years back has already appreciate 100,000+. The newer house is located 4 blocks from all of the build you mentioned. I would expect it to be worth significantly more when the new build is in, though the development window is about 10 years for completion. However, things are already changing here. I have liked living here also, it is quite accessible, off three metro lines. If you can sacrifice being close to nightlife for a few years, I would think it will pay off in equity and we will eventually be surrounded by awesome new build here anyways! :) Of course the economy could crash, but that would likely hit the same regardless of the neighborhood you buy in. I think you are smart to avoid a condo if you want to invest for return, too many fees and rules and less appreciation. 

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  • Dee Shaun
    OP
    Rental Property Investor · Member since 2019 · 25 posts · 12 votes
    7y

    @Marielle Walter  Thanks for the input.  And yes, we are talking about 10 years into the future - a lot can happen good or bad.  One can only hope that stores like Wal-mart and Aldi did an extensive research.


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  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    7y

    Check out arlington va they recently landed new amazon headquarters.  Other tech companies will follow to poach talent. Better appreciation then an Aldi.

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  • Demelza Campbell
    Washington, D.C. · Member since 2019 · 1 post · 0 votes
    7y

    @Account Closed there are not a lot of options in Arlington right now.  The only real condo build available is Traflagar Flats and that's almost sold out; my partner and I recently got property there. There is a new release coming online in 2020 on Glebe road but other than that it's dry. Folks are holding on to the property to see what it's going to be when HQ2 drops.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y

    Id go with Ft Totten/Riggs Park over Carver Langston.

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  • Dee Shaun
    OP
    Rental Property Investor · Member since 2019 · 25 posts · 12 votes
    7y

    @Account Closed wrote is on point.  Besides, nothing shows up in my price range for that area anyways.  Thanks for the input though.

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  • Dee Shaun
    OP
    Rental Property Investor · Member since 2019 · 25 posts · 12 votes
    7y

    @Russell Brazil thanks for the input

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  • Dee Shaun
    OP
    Rental Property Investor · Member since 2019 · 25 posts · 12 votes
    7y

    @Marielle Walter,   zillow estimates the rent over there at $3000 for the upper limit.   Do you think that's realistic granted the property that I am looking at was just renovated? 

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