Good Deal or Not?


The flyer says this rowhome at 1321 V Street, NW is:

“newly renovated townhome, 2BR/1.5BA, has gleaming wide plank maple flooring and ample closet space throughout. Light-filled kitchen with s/s Electrolux appliances, granite, custom cabinetry. Bath has porcelain tile flooring and full height shower, separate bathtub and vanity with limestone countertop. Front porch, back deck, off-street parking. 1 Block to Metro.”

More photos can be found here.

It’s a pretty sick location but is it a good deal for $675,000? Also, what do you think of the house and renovations in general?

27 Comment

  • The reno seemed nice and upscale for today’s buyers but I didn’t see a shower i.e. no rod/glass wall with that bathtub (unless it was just the view).

    However, the view out of what looked to be the master seemed, at least to me, to make the house not terribly “residential.”

  • I like the renovation, it’s a good location, and I hope they get it.

    From the photos it looks like it would live more like a really nice condo- it’s pretty small and that price is pretty high, so no, I don’t think its a good deal.

  • That block of V street is actually kind of rought still. Lots of thugs hanging out at all hours of the day, lots of broken glass on the sidewalks, etc (the b-ball court across the street also seems to attract alot of riff-raff). However, I dont think there is much violence per se…it just appears unsafe. With the proximity to U Street, though, it will probably get close to asking price.

  • Good location yes but tiny house. Most would consider this a condo alternative vs a house. I would like it better if it were elevated from the street another five feet. But the location alone is hard to argue with.

  • no way–maybe it would have moved at this price during the height of the market–but not today. they’ll have to slash the price to sell it….

  • 675k for a 2br house? That’s crazy. Is being a block of U street really worth a 250-300K premium versus, say, about anywhere in Columbia Heights? Not to me. I bet it’s got a postage stamp yard too.

  • Times sure have changed. Back in the day I would park there on the way to Republic Gardens. I would fret about getting my car broken in. Now I feel lucky if I find parking there when on my way to BB&P.

  • About 2 miles north from that location you can get a massive mansion for $675,000, so no, not worth it.

  • Lonnie Bruner’s comment should be stricken from the record as completely and utterly irrelevant. I could buy a farm in Kansas–or, for that matter, 675,000 dollar hamburgers–for that price, but that doesn’t mean that a house in that location is priced below fair value, at fair value, or above fair value.

  • NOT a good deal. that is still not a good block and having only 1 full bath is a deal breaker in my opinion.

  • Definitely feels more like a condo than a house—not sure what that means, really, but that’s the way it feels. The bathroom is much much too big, in my opinion. I can understand the allure of large “spa-like” bathrooms, but when space is at a premium (as it is in this place), I think it detracts from the house. The Union Row development towers over the backyard, which also detracts from the house. I think it is overpriced as an 1,162 square foot condo, and even more so as an 1,162 square foot house. But, it’s marketed by PN Hoffman, so there is probably substantial negotiating room in that price. Unfortunately, I think you’d have to knock $80k-$100k off to make it a good deal (you pay a little extra on the $/sq. ft. comparisons b/c you have parking and a back patio that aren’t included in the 1,162 square footage).

  • PoP, do you intentionally pull out the most overpriced listings you can find for Good Deal or Not? It’s starting to seem that way with this and the last few.

  • Prince Of Petworth

    Nope, just pick houses that I pass on my walks that seem interesting…

  • There’s a house on my street in 16th Street Heights that is 4BR and 2.5BA for $595,000 and it has a huge backyard with off-street parking. They are insane. My daughter used to play baseball across the street from these houses. While there are more renovations now, they are still a little sketchy in my mind.

  • cupcake – look out…anonymous from 12:32 will be admonishing you for a dumb comment. just wanted to give you fair warning. As for me…I get your comment, but it’s all about location.

  • what is the allure of giant bathrooms? its the room where you poop. how much floor space do you need 🙂

  • I don’t think the square footage of this place was 1,162…that is the lot size. I’d guess this place is a little under 2,000 sq. ft. Like someone mentioned, they would have got this amount a year and half ago; I’d say if they want to get rid of it soon it will go 600-620K.

    Where can you get a massive mansion, in good shape and 2 miles north from here, for the same price?!?!

  • I don’t think 1162 is too far off base for the sq footage. The top two floors of my house are a shade under 1500, and this look much smaller.

  • Chewy – check out 16th Street Heights – I don’t know about mansion, but stand-alone with many more ammenities for that price is possible.

  • I have a typical 2 story + basement DC rowhouse (3 windows across the 2nd floor front, 2 windows + door at the entrance) and have 650 sq feet on each level. This house is much smaller, I bet 1162 sq ft is an exaggeration. I think the price is way high. Sorry, for that much money there should be at least 2 full baths and no need for bars on the windows.

  • # anonymous Says:
    August 25th, 2008 at 12:32 pm

    Lonnie Bruner’s comment should be stricken from the record as completely and utterly irrelevant. I could buy a farm in Kansas–or, for that matter, 675,000 dollar hamburgers–for that price, but that doesn’t mean that a house in that location is priced below fair value, at fair value, or above fair value.

    I’m not talking about Kansas. I’m talking about an area that takes 10 minutes to ride a bike to from that location. I concede that houses are more expensive in that location but christ, TWO MILES can get you so much more.

    I just bought a house in Feb 2008 in the area I’m talking about. It’s just amazing what beautiful houses you can afford if you’re not restricted to the trendy areas of the city.

  • Public records (on list the square footage as 1192 square feet (btw: sold in Feburary of this year along with some of the other houses on that block), but it also lists it as having 3 bedrooms and 1 bath (whereas it is now a 2 bedroom, 1.5 bath). I bet the renovation added a half bath on the main floor, and then combined the existing (upstairs) bathroom with a tiny third bedroom to create one large bathroom. Of course, public records could be wrong, but I’ve been in the house and that square footage sounds about right.

  • i support lonnie’s comment and response–while 2 miles is not exactly the same–it is not ‘colorado’ as lonnie said, and IS relevant…

  • Lonnie is correct. Buyers looking for a house in dc would not also be looking at farms in Kansas. Buyers looking for a house in dc would be considering more than one neighborhood. so if there is an equally metro accessible neighborhood a couple minutes away by bike from one house a buyer would absolutly be thinking twice about buying a tiny house by ustreet vs a much bigger house with a yard in columbia heights.

  • I think the person Lonnie is responding to (aka “12:32”) was using hyperbole to make a point. In real estate, location is everything. So while Lonnie is 100% correct that you can get so much more for so much less just a short distance away, I also agree with 12:32 that that fact doesn’t really influence whether or not this property is correctly priced.

    I love reading the comments to these “Good deal or not?” posts (so funny!), because it invariably gets away from the price of this particular property and whether the price is correct (or the more subjective “good deal”), and turns into people arguing that some location is better/cheaper/nicer/safer than the location of the property in question, and then some other post questions that post, and people get all riled up and treat it as an afront to their neighborhood (I hope its because they are defending their neighborhood—if they think it is an attack on themselves for living in that neighborhood and they are just defending themselves, it is much more lame and sad). I also love these good deal or not posts, because I’m looking to buy, and I like to see what people think about places that are available.

  • Very interesting listing – I do wonder about the ownership of the interior alley spaces (as seen on the birds-eye view map)?

    Looks like a typical David Dunigan rowhouse (originally 900 sq ft) with a narrow pop-up.

  • wow. $675K huh? i bought my house on the same block 10 years ago, back when parking wasnt an issue because i pretty much had the only car on the block. in any case, i think the house is obviously in a great location, it’s a great size for a couple or even 3 people, the parking spot is a bit hard to get into, but is better than tickets, and the renovation seems just adequate, but more ‘pretty’ than ‘high quality’. do i think it’s worth that price? outside of raising MY own property value, i would have to say that it depends on how much this location is worth to the buyer. i loved this area 20 years ago when i started hanging down here, and i still love it. it’s different now, but the fact that it’s trendy has nothing to do with how i feel. it’s got great character, vibe, and diversity, it’s well located, and it’s much safer than it ever was [the ‘thugs’ and ‘riffraff’ loganmo mentioned are bullshit. plus BB&P brings nonstop foot-traffic on this block, which makes it safer.]. my only problem now is the jerks that have moved here that complain about city noise or small businesses or other middle-class suburban crybaby woes. also i hate that all my friends have now got pushed out to Petworth (no offense).

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