For a long time DC neighborhoods like Petworth and Deanwood have been the front-runners for hot flipping locations. But with inventory levels decreasing and property values going up, investors are constantly searching for the next up-and-coming neighborhood to tap into.
If you’re an investor looking for an emerging neighborhood with plenty of inventory, look no further than Trinidad. This Northeast neighborhood is situated north of the bustling H-Street corridor encompassed by West Virginia Ave NW to the west, Mt. Olivet Road to the north, Bladensburg Road NE to the east and Florida Avenue NE to the south.
As Washington DC’s largest hard money lender, we’re seeing more and more investors come to us Trinidad deals. It’s no secret that this Northeast neighborhood is becoming one of the most profitable markets for residential real estate flipping in the area. Here’s some info on why Trinidad is dominating the DC real estate investing conversation:
Property Values and Expansion
“Trinidad’s seen the largest increase in ARVs, making it a promising location for high returns,” says Senior Sales Executive, Kevin McGaughey. “With plenty of Victorian and Craftsman-style rowhouses, real estate investors have ample opportunity for single-family fix and flips and condo conversions.”
What does the future for the neighborhood look like? “Property values in Trinidad are highest along the H-Street corridor, but as you move toward Mt. Olivet Cemetery, prices are beginning to catch up,” says McGaughey.
While Trinidad is predominantly residential – lacking retail and entertainment within the neighborhood – almost everything residents would need is a walk or metro stop away. Trinidad neighbors H-Street, a busy neighborhood known for its unique restaurants and entertainment. Washington.org describes H-Street as, “A playground for foodies, performing-arts fans, and music lovers.” Being close to a bustling scene, but far enough to provide a quiet community is drawing more young people and families to Trinidad.
To demonstrate the success investors are seeing in Trinidad, let’s look at a deal that one of our borrowers just completed. In the heart of Trinidad, our borrower purchased this rowhome in November 2017 for a little over $400,000 and after 9 months of renovations, the property has an ARV of a whopping $900,000.
So how did he do it? He did his research and saw the potential for properties in Trinidad as fix-and-flip investments. Not only did he find this property, but he has another Trinidad flip he’s currently rehabbing. In the pictures you’ll see how he successfully brought this property back to life, giving every inch of the home the utmost attention to detail.
As a savvy real estate investor, you’re undoubtedly looking for that profitable “steal of a deal,” right? You want a property with large margins, meaning a big payday for you when it sells. As a hard money lender, real estate investors are bringing us DC deals every day and the amount of Trinidad deals is not a coincidence. Trinidad is proving to be an investor’s dream with plenty of distressed inventory, high resale prices, and plenty of qualified buyers.