Dunbar Oaks – Capitol Heights, MD

Dunbar Oaks – Capitol Heights, MD

Capitol Heights has for years been a hot spot for investor renovations. This 4 Bedroom, 3 Bath, 1700 square foot renovation took about a year from start to finish. The investors added 615 square feet of livable space, a bedroom, two extra baths, and a fully-improved basement to get a 234% increase in sales price from $133,100 when the investor purchased to $315,000 when sold 352 days later.

 

Dunbar Investment

“Some investors have moved over to Prince George’s to try to cash in …Since 2010, cash sales have been on the rise…”

Real estate investors flock to Prince George’s, fueling a housing rebound” Washington Post, April 1, 2013 LOCal

 

Proximity to a METRO Subway station is always a plus in the D.C. Metropolitan area, and this small home sits between two, Cheverly and Deanwood. The purchase date, a month before news of Covid and three months before shut down, no doubt impacted the renovation process and led to the long hold period. The resale in December 2020, along with the rest of the D.C. market, doesn’t seem to be effected by Covid fright, as the $315,000 sales price is at the top of the market for similar sized homes in this area just across the Maryland/D.C. line.