Published September 17, 2013

Imagine Living Blocks from Adams Morgan’s 18th Street and Owning a Home for $8,500 – Even in Today’s Dollars!

In 1904, buying a home in Washington, D.C.'s Mintwood Place was a bargain, at $8,500. That same home is now worth more than $1.2 million! Learn more about the long-term appreciation of property values in this blog post.

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Imagine living blocks from Adams Morgan’s 18th Street, owning a home that cost just $8,500. If you were around in 1904, a home on Mintwood Place could have been yours. Even taking into consideration inflation, you’d still have a deal. $8,500 converted to today’s dollars would be almost $214,000. Zillow lists the last sale price of the home at 1831 Mintwood Place, NW at $880,000 – today Zillow estimates it is worth more than $1.2 million.

Check out what the home looks like today on Google Street View. It is a 5 bedroom, 4.5 bathroom house, and Zillow estimates it would cost about #3,700 in rent. Yep, that’s just under half of it’s total cost in 1904.

[googlemaps https://maps.google.com/maps?q=1831+Mintwood+Pl+NW,+Washington,+D.C.,+DC&layer=c&sll=38.921540,-77.044306&cbp=13,23.23,,0,-7.13&cbll=38.921317,-77.044435&hl=en&ie=UTF8&hq=&hnear=1831+Mintwood+Pl+NW,+Washington,+D.C.,+District+of+Columbia+20009&ll=38.92154,-77.044306&spn=0.27245,0.676346&t=h&z=11&iwloc=A&panoid=u2dOKI0ox0aVtFADJNn1eQ&source=embed&output=svembed&w=425&h=350]

Source: Library of Congress