GDoN Revisited by Hipchickindc


In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, 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 Properties: 1901 12th St NW

Original List Price: $645,000.

List Price at Contract: $645,000.

List Date: 11/02/2009

Days on Market: 10

Settled Sales Price: $650,000.

Settlement Date: 12/11/2009

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN Post is: here.

Recent Listing is: here. Virtual tour is here.

This was not a typical Good Deal or Not (GDoN) post in that it was already under contract by the time it was profiled. Given that it ultimately sold a tad over list price, it’s likely that there was more than one interested party. Listing agent Charlie Gaynor with City Houses notes that the property was renovated between 2000-2009, which suggests that it was an owner-occupant renovation rather than an investor rehab. I work with some great developers, so I certainly don’t dis all investor rehabs, but generally speaking, someone who is living in the property tends to invest a bit more on some of the finishes and appliances (note the sexy new steam dryer.)

The property was purchased last in 1999 for $113,000. with a $3000. credit towards closing costs. Ten years and a lot of work later, this relatively small end unit property with parking but no basement garnered a price reflective of significant changes in the neighborhood. For those of you left wondering how it compares to other recent sales in the neighborhood, here is a list of active listings, current pending sales, and settled sales within the past six months, within 1/3 mile from the subject property. (Note that active listings are in the first page or so. To see the settled sales prices, go to the later pages.)

11 Comment

  • The house is really tiny…but with some landscaping, a new fence to replace the chain link and some tall shrubs for privacy, it could have a LEGENDARY backyard. Funny that the current owners did so little with the property’s best feature.

  • Hey Hipchickindc,
    It appears as if the bathrooms don’t have a tub. Is this a drawback in terms of resale value? I ask because I am considering a bathroom renovation that will replace the tub in the upstairs bathroom with a shower (possibly a steam shower). There will still be one bathroom in the house with a tub.

    • I’m no realtor, but as a parent of a young child having a tub upstairs (if that’s where the bedrooms are) is essential. If you see young families (or people thinking about having kids soon) as potential buyers, I would keep a tub upstairs.

      • +1 on the tub for kids. Have you ever tried to bath a two year old in a baby tub or a standup shower without a hand sprayer? We actually have to vet our vacation rentals and hotels on this factor.

  • ah

    Yeah, we considered this question and the general view is that you should try to have at least one tub in any place parents with kids might be in the target market.

    On the other hand, if it’s a master bath go nuts without a tub, as the new thing is steam and/or multi-head showers.

    Also, there’s only a few years’ window where kids need a tub. When they’re tiny you use the porta-tub or a sink. And they can take showers once they hit 5 or 6 (at least mine does).

  • Marcus A, as long as there is still one bathroom with a tub, I think that’s fine. In my experience, women notice if there is no bath tub (especially, as mentioned above, if they have small children). Men typically could care less.

    I have both a clawfoot tub and a standing shower in my main upstairs bathroom. The tub was one of the things I loved about my house when I bought it, but it doesn’t get used very often. (My daughter even takes the dog in the shower with her or washes him with the hose outside).

  • I read something recently that steam showers are nice but a poor investment i.e. you probably won’t get back what you put in $$ for a steam shower when you sell. Also they can seriously f-up your walls (water damage, mold) over time. But they are nice while you’re living there.

    • ah

      I think that can be said of pretty much any higher-end amenity. I doubt that you see much return on a fancy toilet over a home depot special, or a shower-tower over a regular shower, and so on. You install it because you’ll enjoy it and get value out of it while you’re there, which you hope is a while.

      As for steam showers specifically, if they’re properly installed then mold and water damage won’t be an issue. You get a rubber seal installed all the way around to prevent exactly that problem. If you retrofit a steamshower into an unlined space, though, yes, watch out.

  • The National Association of Realtors does a comparison every year of the value of specific renovations considering different parts of the country and some other factors, and looks at expected return on investment.

    Anybody know the only upgrade that is expected to offer a more than 100% return?

  • Nope. Less than $500. investment. Think PoP’s “Door of the Day”.

Comments are closed.