20002 (Trinidad) Washington DC

[Margaret R.]

I'm looking at single family and small multi family units in DC, primarily in 20002, particularly the Trinidad area. There's a lot of new construction in the area and newly renovated single family rowhomes, but they seem to be priced to anticipate the growth and development in the area so newer single family 2-3 BR are high $600s - mid-$700K. The older, not newly renovated seem to range from mid $500K-mid $600K. And then there are some places that are either in terrible shape or were abandoned and those can be found in the $300Ks. I'm wondering if I were to get a rental property, if I can even break even on the rent for these places. It seems like finding a place that is not newly renovated but that is livable fro a tenant right away may be the best option. If I can break even month to month, then hopefully I could fix it up a bit and make a profit on the sale in 3-5 years. Does this seem right to anyone? Is anyone familiar with the area or see other areas in DC as a better investment because it is too late to Trinidad? Looking to meet other investors in the area.

Thanks,

Maggie