Good Deal or Not? I Guess it was a Good Deal (Reader Request)

This home is located at 38 Rhode Island Ave, NE:

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The flier says:

“True luxury living at the home of well known designer! A gem of a house and a steal at this price! Features include electronic entry system, surround sound speakers in every room, high ceilings, gourmet kitchen, two luxurious bathrooms, two fireplaces, exposed brick, views of Capitol & Monument, recessed lighting. Within steps of Metro, dining, shopping & nightlife.”

You can find more info here and a virtual tour here.

I normally don’t like to show houses already under contract but I decided to show this one because it was a reader request and it’s an area of DC that I don’t normally show. So firstly, what neighborhood is this exactly – Edgewood, Eckington? I think Redfin lists Brookland, which can’t be right…

Anyway, the house looks pretty amazing. Since it went under contract so quickly was $450,000 a ridiculously good deal?

26 Comment

  • WOW! $450 is an incredible deal. No wonder it was on the market for 4 days. For that price I wouldn’t care about the sketchy neighborhood or the loud and busy Rhode Island Avenue. Congrats to whomever closes on this.

  • I wonder if the 55+ suits in the closet conveyed for $450k…

  • Great deal. That hood is about to pop and is not as bad as it looks on the surface. The neighbors really look out for one another.

  • I think of this as Eckington.

    I agree with the other people that this house was ridiculously underpriced (unless there are serious issues with it behind the walls). I’d be curious to see whether it didn’t sell for well above the listing price.

  • Great deal. When I was looking to buy a place, I looked at far too many places in that area where houses had been converted into multi-unit condos that were not much less than that.

    Very thankful I didn’t buy into a place like that.

  • Wow, that is some house. Just wow.

  • DARN, a house that is simple with a few original details and nothing too offensive. I wish the bathrooms were less tan/beige in color but not the end of the world for $450,000. And it’s in my vicinity, too, I love it.

    Stop teasing me PoP!

  • Wow. That makes my comparably-priced house in CH look like utter crap. Very good deal, even with the busy street and not a whole lot within walking distance.

    As far as which neighborhood it is, a friend lives a few blocks over, between Lincoln Rd and 4th St, and I first thought she was crazy saying it was Brookland. But it’s actually really close to Catholic, etc., which is definitely Brookland…

  • I live a few hundred feet away from this house and its definitely eckington.

    As for the neighborhood, that little section from Seaton north to Rhode Island and east to Lincoln is actually extremely peaceful. The neighbors are all friendly and help one another out. Its a mix of newer young professionals and Howard students with families and individuals who have been there for decades. In general, I’ve found that the long-time residents are welcoming of newcomers and excited that their once violence plagued neighborhood has turned a corner.

    That said, the local political “establishment” seems to be less than welcoming to newcomers.

    East of Lincoln to Fourth, and south to around Florida remains pretty rough. The unit block of R and Quincy are exceptions, as they are fairly safe nowadays.

    This house is a fantastic deal. Makes me wonder what is wrong. There are houses that are completely run down in the area selling for just under this amount.

    I’ve never understood why the same house on the unit block NE sells for 100k less than the counterpart on the unit block NW…

    I think there’s a good amount of bloomingdale elitism… of course its all artificial, as the Unit block NE is no more or less dangerous than NW…

  • I’m sure it went for more than 450. I’ve been going to open houses in Shaw the last 2 weeks. The nice houses are getting 6, 7 offers. I know the 2 on Flagler both sold with multiple offers and they were in the 550s. THe blue house on N (23N I think) was also listed at 475 and apparently sold in the 600s after the 1st openhouse….all of these were nice inside and fairly big. There was one on 4th and N that was priced really low (399) and a client of fa friend called to put in her offer and the realtor said they had over 10 offers already. (She had 499 and the realtor said dont bother). Not sure if its the (expiring) credit, all the devlopment around NY Ave metro, or what, but it’s like the mid 90s again. OK, maybe not that bad.

    • Looks to me like 23 N has just closed at $475k. I don’t have any info about any seller subsidy, but that seems way more reasonable than $600+.

  • I think they must have buried some bodies in the basement or something for that deal…

  • This is actually, technically, Edgewood. Eckington runs from Florida Ave to the south to Rhode Island Ave to the north, North Cap to the west and the railroad tracks/4th street to the east. Since this house is on the north side of Rhode Island, I’d call it Edgewood.

    And, um, damn that seems like a good deal to me. . . PoP, can you update us when the sale price is listed?

  • I would think proximity to HU would be a selling point as well…

  • Gorgeous house, amazing price…crap neighborhood. I would never want to live there regardless of how nice the house is becasue I’d be uncomfortable walking around the area, not that there is anything to walk TO (which is kinda the whole point of living in the city).

    • Are you uncomfortable walking around Columbia Heights, U Street, Petworth? Comparable or more crime in those areas. You’d be surprised how safe that area actually is.

    • I guess if you are an ass. But if you are not, then maybe you would make friends and you could walk to their houses.

      But from here you can walk to four universities, three metro stations, washington hospital center and Washington childrens hospital.

      The Capitol is a 30 minute walk. So is greater u street.

  • that is a seriously mindblowingly good deal. wow.

  • I went to this open house. Absolutely beautiful home, despite the real zebra rugs (eeek!).

  • No way it went for 450. Got a few people in the door quickly then ping-ponged the price between the buyers.

    Great deal even 100k over that though.

  • Sorry for the double post. This still may be a great deal, but after gutting my house and seeing the terrible structural condition it was in under the dry-wall, I am pretty committed to purchasing shells only from now on.

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