The Great Capitol Hill Condo Bargain Hunt: $149K 1-Bdrm

As you may know, I like to keep an eye on the motivated sellers on Capitol Hill, as a kind of market barometer. Here's a special case, likely due to financing.

This one bedroom is on the second floor of a 1924 brick co-op near Seattle University, 1136 13th Ave. Redfin says it's been listed for over a year; Windermere has it selling originally for $175,000, now for $149,000.

It's 600 square feet, with a redone kitchen: granite countertop, slate floor. It comes with a stacked washer/dryer combo, and the HOA dues of $312 include earthquake insurance (because brick, see). It faces south, which is terrific, and there's a large walk-in closet. Downside, baseboard heat, not FHA-approved. I imagine that last is a sticking point for bargain shoppers.

With a 20-percent down payment, your mortgage and HOA could still be under $1,000 per month. And, you have to like the location. At 13th & Union, you're blocks away from everywhere you want to be (i.e., Café Presse and Stumptown, Piecora's, the Pike/Pine corridor, Pony...really, anything fun that begins with "P"). Assuming it doesn't fall down around your ears in the Big One, you're in a good spot.