In the market for a cut-rate home ownership opportunity in the Brightwood Park area?

Check out this 1,500-square-foot row house at 714 Madison Street NW. According to Jenny Lynch—-a spokesperson for bid4assets.com, the company auctioning off the house—-the home was forfeited to the federal government as “a result of a conspiracy to distribute cocaine.”

Features include “hardwood floors, a fireplace on the ground level, three bedrooms, two and one-half bathrooms and an additional recreation room. There is a finished basement with a common area/recreation room, kitchenette and full bathroom. There is a parking area for two or more cars in rear of property.”

Interested? Bids start at $230,000. You need to deposit 10 percent of that in order to participate when bidding starts on March 17.

More info after the jump.

FOR IMMEDIATE RELEASE

Media Contact: Jenny Lynch Bid4Assets, Inc. (703) 677-2493 cell (301) 650-9193, ext. 112 office jlynch@bid4assets.com

Conspiracy to Distribute Cocaine Puts Government-Forfeited Home in Northwest DC up for Auction Online

With a starting bid of just $230,000, this is a rare opportunity to own on a 2-story detached residence in the heart of our nation’s capital

SILVER SPRING, Md., March 5, 2008 – Bid4Assets, Inc., a leading online auction site for forfeited, surplus and tax-defaulted property from federal, state and local government and private industry, today announced that it will auction a single family home in Washington, District of Columbia, forfeited to the U.S. Marshals Service. The home is currently in preview on the Bid4Assets Web site at www.bid4assets.com/usms. Online bidding begins March 17 – 19, 2008.

The two-story detached residence is located at 714 Madison Street, NW, Washington, District of Columbia. The property boasts 1,500 square feet of living area, hardwood floors, a fireplace on the ground level, three bedrooms, two and one-half bathrooms and an additional recreation room. There is a finished basement with a common area/recreation room, kitchenette and full bathroom. There is a parking area for two or more cars in rear of property. The home has 1,500 +/- square feet of gross living area and is situated on 3,485 +/- square feet.

The home will be available for inspection one time only on Thursday, March 6th, between the hours of 10:00 AM and 12:00 Noon ET. Prospective bidders wishing to inspect this property must send their request to inspections@bid4assets.com.

The minimum bid for the home starts at $230,000. The U.S. Marshals Service requires that bidders submit a pre-bid deposit of $23,500 prior to placing a bid. The pre-bid deposit submission is simple and can be completed on the auction listing page on the Bid4Assets Web site. See Web site for details.

Specifications, photos, appraisal details and other information are currently available online at http://www.bid4assets.com/usms. Interested buyers can contact Bid4Assets with any questions by sending an email to service@bid4assets.com. For those individuals who are unable to access the Internet, they can contact Bid4Assets toll-free at 1-877-4ASSETS to request an off-line bid form.

“We have been helping the United States Marshals Service reach buyers across the country, generating millions of dollars used to further law enforcement initiatives,” said Jenny Lynch, spokeswoman for Bid4Assets. “The Internet allows interested buyers to find all of the information they need on a property to make a purchasing decision online.”

Bid4Assets has been conducting auctions for the U.S. Marshals since December 1999 to include residential and commercial real estate, luxury automobiles, collector cars, aircraft, boats, jewelry, timeshares, sports memorabilia and financial instruments.

About Bid4Assets, Inc.

Bid4Assets (http://www.bid4assets.com) is the leading online auction site that helps federal, state and local government and private industry maximize returns from the sale of forfeited, surplus and tax-defaulted property. Bid4Assets has conducted sales of seized, surplus and non-strategic assets for more than 80 federal, state and local government agencies nationwide. Clients include the U.S. Marshals Service, the Department of Energy, the states of Georgia and Maryland and the county of San Francisco, California.&nÿÿÿÿtìbsp; The company is located in Silver Spring, Md., phone (301) 650-9193, fax (301) 650-9194.

About U.S. Marshals Service

The Marshals Service (http://www.usdoj.gov/marshals/) administers the Department of the Justice’s Asset Forfeiture Program by managing and disposing of properties seized and forfeited by federal law enforcement agencies and U.S. attorneys nationwide. Currently, the Marshals Service manages more than $878 million worth of property. The proceeds from the sale of forfeited assets such as real property, vehicles, businesses, financial instruments, vessels, aircraft and jewelry are deposited into the Asset Forfeiture Fund and are used to further law enforcement initiatives.