12069 Gatewater Drive - Fallsberry - $379,900

Listed by Coldwell Banker

Google Map Here

How hard is it to find a 3BR home in Potomac for less than $380K? Pretty hard. Only 3 other homes have sold below $380K in the past year. Whenever I see a list price this low, I am curious to see what you get for the money.

Fallsberry is just off Falls Chapel Road on the west side of Falls Road. It is a community of very nice town homes that were built in the middle of the 1980's by William Berry. At the time - these were upscale town homes that rivaled some single family homes in the area. Overall this is a nice community in the Churchill cluster in a great location.

During the 1980's Montgomery county forced developers to put aside a percentage of each project for moderately priced housing. Called MPDU's - (Moderately Priced Dwelling Units), these homes were typically smaller and hidden away from the main project. The homes could not be sold without restrictions by the purchasers for a period of 10 years. Any profit made on these homes sold before the 10 year period was to be split with Montgomery County and reinvested in the program.

The downside to MPDU units is they generally were 2 levels with 3 bedrooms up and one full bath up. There was generally NOT a powder room on the main level. Anyone needing to use the bathroom had to run upstairs to use it. A small price to pay to be able to swing a home in Potomac and send your kids to Potomac schools, right?

This home is an end unit built behind a grouping of homes on the main street. It is a bit hidden away - which can be good. In this case it is. The home faces a wooded area and has good privacy. The home is frame construction and seems to be in well maintained condition.

The front door takes you directly into the family room and breakfast area. There is a pass through to a recently renovated kitchen with new cabinets and granite counters. The appliances are nearly new - and the kitchen shows beautifully. The home has hardwood throughout the first level.

This home has a powder room adjacent to the kitchen. This is a great (and rare) feature in these homes and makes a big difference in quality of life. Kudos to the forward thinker that added this feature.

The upstairs is typical with 3 small bedrooms and a nicely updated hall bath. There is not much you can do with this limited space. The home is uncluttered and nicely painted. It is ready for new owners to just move their stuff in.

This home is well priced and a great entry into the Potomac market. There will ALWAYS be a market in Potomac at the lower price point. The last home similar to this sold a year ago for $369K. The market was not as good back then and that home did NOT have a powder room on the first floor. I see this one selling at close to list within 60 days. Nicely done!