Good Deal or Not? “Neighborhood values poised for increasing” Edition (Reader Request)

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This home (the red one) is located at 1835 North Capitol Street, NE:

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The flier says:

“Move-in ready! Architectural details, hardwood floors, high ceilings, new baths and basement apartment ready for finishing. Neighborhood values poised for increasing with upcoming new developments (see district master plan). Metro bus stop at corner. Seller requires LENDER loan approval with offer.”

You can find more info and photos here.

The floors do look pretty sweet but it is unusual that they don’t show any photos of the bedrooms. But given the photos they have does $450,000 sound reasonable for this 4 bed/2.5 bath?

22 Comment

  • I think that the carpeted yellow room is a bedroom.
    Parts of it look nice, and it seems like a nice size, but that is not a half mil $ kitchen, at least not that far out on East Capitol, across from the High school, with no off street parking… No deal here.

    • And I cant read. I thought it was East Cap, not North Cap. Still no deal though, perhaps even more so due to the oddness of that street and the lack of proximity to a metro.

  • live ON north cap?

    um, no thanks.

  • Really like the house.
    But North Capitol St.
    No way.

  • I’m feeling too lazy to “see the District Master Plan”. Does anyone know what this is trying to say? As far as I know there are no super special improvements coming to this area (unlike, perhaps, to /East/ Capitol)

  • North capitol, particularly this section, is scary, dangerous and loud. No thank you.

  • The only plans I know of for North Capitol call for changing the cloverleaf intersection up by Catholic U. and Soldiers Home into a huge traffic circle. As far as I know that’s still a way off and is pretty far North of where this house stands.
    Are they running a streetcar line up North Capitol?

    • not north cap, but this will be only a block from the one on rhode island, and a few blocks from the one on florida.

  • Phase 2 or 3 of the street car plan includes a line down Rhode Island Ave (just a couple blocks north of the house). I don’t think the location is THAT bad. Short walk to Big Bear and Windows Cafe. Probably about 20 minute walk to either Shaw or NY Ave Metros. And I’m pretty sure that the house is on a frontage road and not right on N. Cap. Most of N Cap. on that stretch is “lower”, like a trench.

    But if I had $450,000 to spend, still don’t think I’d spend it there.

  • the reference in the listing to the “District Master Plan” kinda made me chuckle.

    Is the realtor referring to “The Plan” that according to DC folklore exists to remove african americans from the District?

    I’m guessing they were trying to refer to the District’s Comprehensive Plan put out by the Office of Planning which is trying to encourage new development on North Capitol to make it more pedestrian friendly.

    Regardless, if they were trying to suggest that North Capitol Street would soon be a nice place to live, it would be more truthful to say that there are friendly elves who live in the attic.

  • Without interior pictures its hard to make a fair comparison, but houses in the same area around the same size have sold for ~150k less recently. I find it hard to imagine someone will pay that asking price or anything close to it. Then again, I’ve seen worse deals sell quickly in this city.

  • It’s right next to an underpass that can be very loud. Intense traffic during rush hour would make this location feel so surrounded. It’s difficult to feel like a safe pedestrian with all the crazy driving along this stretch, too.

  • It’s right next to an underpass that can be very loud. Intense traffic during rush hour would make this location feel so surrounded. It’s difficult to feel like a safe pedestrian with all the crazy driving along this stretch, too.

  • when they say “poised for” they mean “unlikely to be”

  • Its difficult to be too critical of North Capitol Street on a blog that is Petworth-centric (I would feel just as safe/unsafe at night in Petworth as some of the unlit streets of Eckington). That said, I don’t think safety would be too much of a problem – if you do smart things to protect yourself.

    There is easy access to a multitude of bus lines, 3 metro stops within .5-1 mile, as the above poster notes the street car is coming, and there are green shoots of economic development with First Street NW and the McMillan facility.

    That said, $450,000 seems high – but might be achievable given the right circumstances.

    The first one probably needs some work, but was sold last week for far less than the listing price on the property in question. Though, we have no idea how bad it was in areas not pictured. It is evident that some reno was started but poorly done.

    The second is far smaller with no parking for 70 grand less.

    The third may be a lot bigger then the property in question and has a huge rental unit for hte same price.

    That said, I think 400,000 is probably a reasonable price. I wouldnt pay over 375k, but I’m not your average buyer thats bullish on real estate.

  • The various District Master Plans are basically pipe dreams and wish lists. The city creates them with some neighborhood input, and if a major investor ever materializes they are used as the starting point for discussions. They tend to change greatly after that starting point, based on the investor and market dynamics etc. Their also a lucrative contracting opportunity for whatever politically connected person gets to put them together. Someone got paid six figures to say that upper Georgia Ave can be a nice area of hair salons and gas stations, which it already is. They do serve a purpose, but are moot without financing. Financing in DC for major projects is generally realized after offers of tax breaks and increments for investors, which is a result of the (oftentimes shady) political process. Hence Ward 1’s major developments, and zero development in Ward 4 over the last few years. Both had great master plans… (this is a simplistic overview I know)

  • The drunk line streetcar will pass close by on Florida. For how nice the interior is (trim, fireplaces, etc). I’m surprised the kitchen is that cheaply done. W/ the basement rented (if its legal) you can live for ~1500/mo

  • For that amount of cash in that neighborhood I’d also require central A/C along with a sweet kitchen and something more than just a parking pad out back.

  • I rent a few houses away from this one.

    Noise? NOT an issue, surprisingly. These houses are made pretty well and sound isolation is top notch. You will not know you live on N. Capitol.

    Realistically, this place has three problems:

    -No parking means you will circle the block looking for parking and you have to deal with last minute ‘no parking’ signs, etc. It’s a huge pain on this block.

    -GHETTO. This is a world away from even 3 blocks West. There is additional low income housing going up and I don’t see this neighborhood transitioning. It is about the same as in 2005 – crap.

    -Not close to anything. Sure, you can walk to Windows Cafe or Big Bear, but is that so amazing? This isn’t exactly a selling point for me. Both metros are a hike and a pain. If you need to be somewhere on time, you have to budget 15 minutes for walk to metro + 15 minutes for wait for redline on the weekends and whatever actual travel time. This eats up a good hour when you need to be in Gtown or somewhere on time. It sucks for metro people. I drive so it’s not a big deal for me.

  • do people find a 15 minute walk to the metro a far walk?
    i dont.

    this house is a 15 minute walk to three stations.

  • It is a long walk from that house to one of those metro stops, regardless of the time it takes.

    • that seems to be the sentiment expressed here.
      i’ve make that walk to the NY ave metro a lot since the station opened, and i think its fine.
      to each their own.

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