1307 R St. #1: A nice basement condo?

Is the phrase "a nice basement condo" an oxymoron? This listing (like the one a few doors down at 1321 R St) begs the question. At a recent open, I quite liked the well-appointed kitchen and living space. Like most 2-br units, the second bedroom is rather small, but this one is passable. It has a backdoor to the real parking space. But at the end of the day, you are still living in a basement with less than ideal light. The full listing is here.

Bdrms: 2

Baths: 2

Floors: 1 (below ground)

Price: $449,000. (price changed 6/24)

(initially listed at $484,900 on 4/03).

Parking: 1 space

HOA: $315

Photos: Click here for a photo tour.

The home owner's fee strikes me as quite high for such a renovated victorian. How much more need this price come down in value to sell? Readers, would you rather buy this condo or the one mentioned below on 8th St?