Lanham Opportunity | Redone Basement, Solid Bones | $299K
Buy Now Price = $305k
DEAL AT A GLANCE
- Asking Price: $299,000
- ARV: ~$470k
- Beds/Baths: 3 / 1.5
- Above Grade Finished: 1,534 sq ft
- Basement: Full, finished with half bath (Completely redone in 2015)
- Lot: 5,775 sq ft (0.13 acres)
- Year Built: 1962
- Subdivision: Lanham / Glenn Estates area
- Taxes: ~$4,245 / yr
WHY INVEST HERE?
- Property has been well kept, with key updates already in place (kitchen ~3 years old, basement recently redone, New Hvac).
- Basement Value-Add: Fully finished walkout basement with half bath — great potential for conversion into additional living space or secondary suite.
- Low Rehab Lift: Unlike many value-add projects, this home is not a heavy gut. Clean interior, modern kitchen, and finished basement keep budget focused on cosmetic updates.
- Family-Friendly Layout: Split-level design and modern flow.
- Strong Comps: Nearby renovated homes support ~$470K ARV.
PHOTO & CONDITION BREAKDOWNExterior
- Solid split-level brick/ siding construction.
- Lot is manageable at 0.13 acres.
- Roof replaced before 2012 — serviceable but will need evaluation.
Interior – Main Level
- Kitchen: Updated ~3 years ago. Modern finishes in place.
- Living/Dining: Minimal work needed for market-ready appeal.
- Bedrooms: 3 bedrooms with clean finishes, straightforward cosmetic refresh only.
Basement
- Full basement with half bath.
- Redone in 2015 ; clean, functional, and ready for finishing touches.
Systems
- Electrical and plumbing reported serviceable.
- HVAC new, property overall very well maintained.
NEIGHBORHOOD SNAPSHOT
- Located in Lanham, Prince George’s County, a desirable pocket with strong buyer demand.
- Easy commuter access to DC, Beltway, and major highways.
- Established subdivision with solid resale comps in the $470K+ range.
COMPARABLE SALES
- 9208 Alcona St – $480k
- 5402 Marlene Dr – $455k
- 9115 7th St – $480k
- 4407 Braeside Ct – $475k
POST-OCCUPANCY TERMS
- Seller to remain in possession until Nov 10, 2025 (approx. 14 days post-settlement, reducible to 7 days).
- $25,000 escrow deposit with First Class Title LLC from sellers proceeds at closing.
- Property delivered in same condition as settlement.