GDoN Revisited by Hipchickindc

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, and as a real estate salesperson in Maryland.  Unless specifically noted, neither she nor the company that she is affiliated with represented any of the parties or were directly involved in the transaction reported below.  Unless otherwise noted, the source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system.  Information is deemed reliable but not guaranteed.

Featured Property: 203 Morgan St NW

Original List Price: $499,000.

List Price at Contract: $459,900.

List Date: 5/15/2009

Days on Market: 130

Settled Sales Price: $457,500.

Settlement Date:  10/27/2009

Seller Subsidy:  $3,000.

Bank Owned?: No

Type Of Financing: FHA loan which would indicate a minimum of a 3.5% down payment (listing states loan amount of $449,213., which I suspect is incorrect).

Original GDoN Post is:   Here.

Recent Listing is:  Here. To see pics, click on the main picture after opening the link.

Last week I revisited a property just north of Dunbar High School. This one is a short distance south of Dunbar, on a quiet one way street that is tucked just off of New Jersey Avenue, seconds (if you hit the lights right) from the third street tunnel. I was sent a heads up about this property closing by one of my own clients, who settled on a property on the same block a couple of weeks ago, for which he is planning to do extensive renovation. Continues after the jump.

Commenters indicated that this property was on the smaller side with tiny exterior space, but does have the benefit of an inlaw suite. The listings of this property from both 2000 and 2004 note that a renovation was completed in 2000. Unfortunately, there were no interior shots, but the current listing suggests that the latest seller had made numerous upgrades to a “modern minimalist” style.

The owner from 2000 to 2004 is recorded as Brian R Brown. I wonder if this is the same Brian R Brown, the developer, who did the complete restoration of the Anna J. Cooper house in LeDroit Park and owns the firehouse on North Capitol St NW? I initially figured that Brian may have done the 2000 renovation, but the listing from that timeframe states that it was already “remodeled”.

This is one of those areas that is seeing revitalization post-crazy DC real estate boom. Here is the recent sales history for this property:

May 2000: $115,000.

November 2004: $332,500.

October 2009: $457,500. Less $3000. subsidy