A condo for $200k and Under? (Arlington, Alexandria: for sale, apartment, foreclosed)

[ParadisDivin]

Hello,

I had posted last month about my desire to move from my current place (Affordable 2BR Apartment), and I have a follow-up question I hope you all can help me with.

Per the aforementioned thread the initial idea was to rent, but now there is the possibility to buy something. I was wondering if finding a 2bdr condo or TH for $200k and under in a safe area not too far from a metro station (no more than 30min bus ride) is unrealistic.

If you have any particular neighborhoods and/or condos you think would fit the bill please kindly advise


Thanks!

[ChristineVA]

Near a metro station is unrealistic. In a very far-flung suburb, it's possible.

[Smoke_Jaguar4]

- Affordable
- "Safe"
- Close to Metro

Pick any two.

For condo's, your best bet may be to buy a one near any of the projected "Silver Line" metro stops to Dulles; if speculators haven't already driven up the prices.

The other option may be SW or SE DC around the Anacostia. There has been a lot of gentrification in this area; prices are still somewhat affordable.

[Grsz11]

There are a number of foreclosed condos under $200K in Lake Ridge (22192). There is a bus to Franconia-Springfield, as well as a number of commuter lines into Arlington and DC.

[Middlin]

I would not buy a condo that's far out, but maybe that's just me. I just don't think it's a wise investment. I did a search in Fairfax and two were listed. FC8140956 is very close to Nutley Metro, but condo fees on both properties I saw were mid $400

[stpickrell]

There's very slim pickings given your constraints. You might do better in say South Arlington if you can accept a 1BR condo, but remember the condo fees can get expensive.

Have you considered Frederick and taking the MARC into work?

[smarterguy]

Maybe a studio? I seem to recall seeming something in the SW waterfront area. Probably won't be updated since built in the 70's/80's.

But condo fee's-my god. Some are more than the mortgage payment.

[ParadisDivin]

Thank you all for your input so far

@ Smoke_Jaguar4 - what would you say if I picked safe and affordable? Any neighborhood that would fit my budget? Not familiar with the area where they are planning the Silver Line, but I am going to assume that while they wait for this new metro line there are no public transportation in that area? I still need to have a way to get into D.C. by public transportation though, cuz I don't have a car during the week.
I wouldn't want to live in D.C., not sure what it is about the city but I just can't see myself living there. But then again I have a very limited knowledge of the city and its various neighborhoods... By the way I thought that SE and SW D.C. weren't the safest neighborhoods?

@ Middlin - many thanks for doing that search. Can you please let me know what website you used?

@ Stpickrell & Smarterguy - unfortunately a 2bdr is really non-negotiable :-(

Stpickrell - MARC and VRE to me means I am way too far from D.C. And doesn't the cost of taking these every day to work and back adds up and gets rather expensive?
And Smarterguy - I so agree with you regarding the condo fees! i have seen some as high as $750!

@Grsz1 - thank you for input. I will look into that zip codes.


In my search, I have come across the following listings:

301 REYNOLDS ST S #215, Alexandria, VA 22304

5911 Edsall Rd APT 502, Alexandria, VA 22304 - Zillow

4600 Duke Street #1015, Alexandria VA - Trulia

4600 Duke Street #915, Alexandria VA - Trulia

Any thoughts on these, whether it be the condos, safety, neighborhoods where they are located etc.?

I also came across many condos for sale at Watergate at Landmark on Yoakum Pkwy (22304). Anyone familiar with these?

[kww]

not sure what you are using to establish your $200,000 cap (anticipated monthly mortgage etc, possible lender pre-approval up to that amount), but keep in mind the mandatory monthly association fees, which, from the four listings you linked above, vary from $350-700+ each.

And Watergate at Landmark is even worse, with fees ranging from $700-over 1,000 a month for some units..

Also, before falling in love with a unit/community, you may want to confirm approval status for the type of financing you intend to use (assuming you are not paying cash)

[Middlin]

I looked on Refin. You should use it since it has a really nice map feature.

I used to live in Fox Chase apts so very familar with the area (at least many years ago) The condo's on Duke Street are just across the street and bus service was pretty frequent during rush taking the bus to the Pentagon. I remember taking the bus to King Street on the weekends as well. You can walk to the shopping center across the street and if it's still there, actually bar/restaurant right next to this building.

Was never a big fan of the Edsall Road area, but can't specifically vouch for safety, etc