What Does $400,000 Buy These Days?

What kind of property can you find for $400,000 these days in the Rosslyn-Courthouse-Clarendon area? Well, if you are moving here from just about anywhere in the mid-west, you will have a bit of sticker shock. Then again, if you are moving here from Manhattan, prices actually look reasonable.

The recent Case-Shiller index reported month-to-month declines in 19 out of the 20 metro areas tracked. What is the only metro area with an increase? Ours of course - the Washington, D.C. metro area. And only two metro areas showed a year over year increase - D.C. metro area and San Diego.

For $400,000, one type of property you won't find is a detached single family home. Even for a house that is going to be torn down, you would be hard pressed to find anything less than $500,000.

For $400,000, you do have a range of condo options.

A one bedroom/one bathroom in one of the newer buildings (built after 2005), you can expect:

• 750 square feet
• granite counters, stainless steel appliances, a washer and dryer, hardwood floors
• 1 garage parking space
• open layout
• a fitness center in the building and possibly a pool and party room, too.
• Walkable to the metro

Buildings in this category include The Odyssey, Station Square, Clarendon1021, The Phoenix,  1800 Wilson

If space is more of a priority but you still want some modern conveniences, you can find a 2BR unit with the following:

• Built before 2000
• 900-1,000 square feet
• A little further to the metro, but still walkable
• W/D in unit
• Garage or reserved surface parking space

A few buildings in this category include The Astoria, The Corinthian and  Woodbury Hts. 

If $400,000 is still out of reach, there are still options for you in some of the older brick, garden style building, many built in the 1940s.

The primary price driver is 'location, location, location' and Rosslyn, Courthouse and Clarendon are some of the most desired areas in the country.