In this edition of Price Point– a weekly series where Redfin explores existing real estate stock throughout a turning mix of budgets and city areas– we’re taking a look at homes at or under the median U.S. home-sale price of $396,173.
In April, the mean U.S. home list price rose 2.4% year over year to about $400,000– the biggest increase in 13 months. With that in mind, we’re exploring what you can get in markets across the country for that price. Hint: A$ 400,000 home in Washington D.C. looks extremely different from a $400,000 home in Philadelphia.
Chicago: A Fixer-Upper Condominium With an Unbeatable Location, or a Move-In Ready Cottage
1,600 sq
- feet condominium in Chicago, IL noted by Redfin primary agent Elizabeth Caya: $350,000
This $350,000 two-bedroom, two-and-a-half-bathroom apartment just a few blocks from Splendid Mile and Oak Street Beach gives buyers the opportunity to tailor a home in one of Chicago’s finest neighborhoods.
Redfin primary representative Elizabeth Caya, who is noting the residential or commercial property, states the list price of the apartment is simply one part of the expenses connected with it. The condo’s month-to-month HOA fee is over $1,900, adding a big chunk to the owner’s regular monthly payment.
“It’s a rehabilitation opportunity; the apartment requires some updates,” Caya stated. “It’s clean, however it’s dated. I believe it’s actually a flip chance. Numerous units have actually cost a fair bit more, so it might fetcht upwards of $500,000 if it was remodelled,” she stated.
Caya said that while the unit does require updating, it’s very large with great deals of closet area in a shop structure with only 64 units, and features 24-hour door staff. “It’s a terrific location to live, and you’re buying into the community,” she said.
2. 1,650 sq ft cottage in Chicago, IL listed by Redfin primary agent Cesar Juarez: $400,000
Even more from downtown Chicago– however still simply a 30-minute drive away–$400,000 purchases you a turnkey bungalow-style home.
The home is a five-bedroom, two-bathroom with a gated front yard and large covered porch. The primary level has 3 bedrooms and a full bath, while upstairs there are 2 large bedrooms and a benefit room that might be transformed into a home office, sitting location or nursery.
The completed basement likewise offers living space, and might be utilized as a sixth bed room. Perk: There’s a removed two-car garage on the residential or commercial property.
Washington, D.C.: A Move-In Ready Co-op, or a Home on the Borders of Downtown
750 sq feet
- co-op in Washington D.C., noted by Redfin principal representative Chelsea Traylor: $389,000
In the heart of Dupont Circle, this move-in prepared and totally provided $389,000 one-bedroom co-op has a lot to provide its next owner. It lies in a 32-unit structure that has a monthly fee of $764, consisting of property taxes.
The bathroom has been upgraded with floor-to-ceiling tile, a walk-in shower and a bidet-style toilet. The place offers simple access to many restaurants, stores and grocery stores, like Whole Foods and Trader Joe’s.
“It’s extremely essential D.C., Dupont co-op in regards to style. It’s so spacious, has terrific closet area and has wide open living spaces neglecting 16th Street, with easy access to whatever the city needs to use,” Traylor stated.
She included that the unit is being sold completely furnished.
2. 1,344 sq feet home in Washington D.C., noted by Redfin primary representative Andre Margutti: $380,000
Just 30 minutes away from the co-op in Dupont Circle is this $380,000 two-bedroom, two-bathroom house. It was completely renovated in 2017, and updated once again this year. The move-in all set home is located in the southeastern part of the city, with simple access to major commuter routes and public transport.
Your house likewise has private rear parking and outdoor area, with a brick patio area and fenced backyard.
Philadelphia: Standard Townhouse, or a Single-Family Home in a Northern Philly
1,656 sq
- feet house in Philadelphia, PA noted by Redfin primary agent Peter Rossi: $340,000
Found in the desirable Castor Gardens community of Philadelphia, this $340,000 three-bedroom, one-and-a-half restroom home has a sun-filled living-room, and a large dining room that’s perfect for hosting big events.
All 3 bed rooms are upstairs, along with an updated restroom with a walk-in tiled shower. The basement is partially finished and features extra living space, laundry and storage. The home also comes total with a connected garage, a fenced yard and a patio in the side lawn.
2. 1,535 sq feet townhouse in Philadelphia, PA noted by Redfin senior agent Elizabeth Tumasz: $240,000
Closer to northern Philadelphia, this $240,000 five-bedroom, three-bathroom townhouse has an extra-large kitchen complete with trendy surfaces.
There is a full bathroom on the very first flooring, while the bed rooms and rest of the restrooms are divided in between the second and 3rd floorings. The basement offers lots of storage area, a devoted laundry location and a fenced personal lawn that’s ideal for entertaining.
“It’s so well taken care of. The sheer size of it would make someone searching in this cost range delighted. In the back you can have a stunning garden that adds to the character of your house. It’s an unique home with beautiful touches and surfaces,” said Redfin senior representative Elizabeth Tumasz, who is listing the home.
Editor’s note: This is a weekly column. The listing status and costs of highlighted homes undergo change.