This house was a fire damaged house a half-block north of H St, DC's hottest new corridor. The City broke ground this summer to construct a trolley/street car line on H Street from Union Station to RFK Stadium (to be completed Summer 2011). We kept this trolley project in mind as we made the offer on the property for $200,000.
The house sold in March 2009 for $585,000. That allowed for $385,000 equity to pay construction costs, loan fees, selling costs and carrying costs. Most investors would expect to walk away with at least $100,000 from a project like this. Here are the after pictures:
