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$775,000

Beds
3
Baths
2.0
sq ft
1,822

1317 Fernway Rd NW, Washington, DC 20012

1317 Fernway Rd NW

WASHINGTON, DC 20012

  • 88 days on market
    • Price drop $24,000↓
Prime Opportunity in Shepherd Park – Perfect for Investors or Visionary Homeowners. Nestled on a peaceful, tree-lined street in the desirable Shepherd Park neighborhood, 1317 Fernway Road NW offers exceptional potential for both investors and homeowners. The main level features three bedrooms, beautiful hardwood floors, and a layout that can easily be opened up to suit today’s modern lifestyle. With a little vision, this space can be transformed into a contemporary and inviting home. The fully finished basement effectively doubles the living space, offering flexibility for additional bedrooms, a home office, a recreation room, or even a guest suite. The expansive backyard is ideal for entertaining, gardening, or simply relaxing, while off-street parking and room for expansion add even more appeal. Located just blocks from downtown Silver Spring, metro access, Rock Creek Park, and the Walter Reed redevelopment project, this home is perfectly positioned for convenience and growth. Proximity to the highly regarded Shepherd Elementary School adds to its desirability for families, while investors will see an incredible opportunity to create value in a prime location. Whether you’re ready to renovate, restore, or rent, 1317 Fernway Road NW is your chance to bring your vision to life in one of DC’s most sought-after neighborhoods.

Details

Property type

Single Family Residence

Est. home value

$845,895

Lot size

5,976 sq ft

Price per sq ft

$426

Year built

1952

Annual property taxes

$5,342.86

HOA

No

Price History

11/17/2024
Bright

Bright #DCDC2156374

Price change
$775,000
-3%
11/02/2024
Bright

Bright #DCDC2156374

Price change
$799,000
-5.89%
10/18/2024
Bright

Bright #DCDC2156374

Listed
$849,000
+41.5%

Schools & Community

Neighborhood: 

Shepherd Park

Elementary school: 

SHEPHERD

Middle school: 

Unknown

High school: 

Unknown

School district: 

DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$186,084
Asking price
$775,000
Closing costs (~8% of asking)
-$62,000
Est. remaining loan balance
-$526,916
Cash to seller
$186,084

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

The Federal Savings Bank

Loan start date

January 2021

Original loan amount

$577,227

Est. remaining balance

$526,916

Interest rate

2.72%

Loan type

New Conventional, 30 year

Seller

Quanda Allen

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/22/2024 at 7:45 PM

Listing updated: 11/19/2024 at 9:49 AM

Listed by: Angela M Goldstein, Northgate Realty, LLC Phone #: (301) 263-6307

MLS: Bright #DCDC2156374

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