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Petworth is America's Hotbed For Flipping Homes

[Photo by Elvert Barnes]

If it seems like a lot of homes have been gutted and renovated in Petworth, there's a reason for that. Redfin reports that on average, enterprising flippers can get a larger chunk of change for flips in that neighborhood than anywhere else in the United States. Let's break down the numbers: on average, flipped homes in Petworth initially go for $353,800 and later sell for $666,200, for a gain of $312,400 per flip. D.C. on the whole is a good place for flippers to make money as folks in three other local neighborhoods — Brookland, Fort Totten and Stadium-Armory — also walked away from the homes they've flipped with hefty profits of at least $230,000. Not only are four of the top ten neighborhoods in the country for gaining on flips are inside District limits, they're also happening with greater frequency than they were even in 2013. Just don't be surprised if there's a lot of construction noise in your neighborhood.
· What's Up with the Flipping Market?! [Redfin]