Home | Newsletter | Advertise
loading...

Three Areas Lead The Way For Home Flipping In DC

  • September 24th 2024

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

20011.jpg
Homes in 20011.

Home flipping continues to lose steam in DC, but there are still pockets where flippers are making good profits. 

According to a new report from ATTOM, there were three zip codes in DC where flipped homes in the second quarter saw profits of at least $238,000: 20002, 20011, and 20019. The 20011 zip code (Brightwood, Crestwood, Petworth, Fort Totten) led the way 11 flips and an average gross profit of $377,000. 

The 20019 zip code (Deanwood, Marshall Heights, Benning Ridge) saw 8 flips with a gross profit of $249,000. In the 20002 zip code (Eckington, Ivy City, northeast Capitol Hill), there were also 8 home flips, with average gross profits of $238,000. 

To see ATTOM's full report, click here. 

The report identifies flips as the same property selling twice within 12 months. Gross profit is calculated as the difference between the original purchase price and the second sales price. Rehabilitation costs and associated expenses are typically 20-33% of home value after repair.

See other articles related to: dc home flipping

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/three_areas_lead_the_way_for_home_flipping_in_dc/22745.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse