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 Property: 804 East Capitol St NE

Original List Price: $2,100,000.

List Price at Contract: $2,100,000.

List Date: 09/26/2009

Days on Market: 160

Settled Sales Price: $1,800,000.

Settlement Date: 04/28/2010

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN (it was a “Wednesday” House Porn Post) is: here.

Listing is: here. Catch the virtual tour here.

I well remember the article in the Washington Post Real Estate Section in 2000 that made a big deal out of the first house in the Capitol Hill neighborhood to sell for over a million dollars. (Incidentally, that first sale on The Hill over a million was located just a block away from this house and had a similarly sized lot, but was an attached end unit, whereas this is a detached house.) Now, nearly ten years out, 7% of the fee simple houses that sold in Capitol Hill over the past year, settled in the seven figures (four of those properties sold over two million dollars).

This property was particularly unique for its 5000+ square foot lot. While teensy by suburban standards, 5000+ square feet this close to the Capitol, Lincoln Park, and Eastern Market, is veritable farmland. In this case, however, they’ve gone the route of formal garden space.

Available sales data shows a transfer of this property in July of 2000 for $897,500. Three years later, in October 2003, it sold for $1,350,000., which was an increase in value of nearly 50%. This current sale saw an additional $450,000. increase in market value. If you’re playing along here, this is where you realize that this house gained just shy of a million dollars in value over the relatively short period of ten years, and more than doubled its Turn of the Millennium value.

10 Comment

  • Keep growing my little property values, keep growing.

    • I bought by Hill 2 bedroom corner townhouse at the end of 2000 for under $150,000 – my mind boggles about how much the value has grown in under 10 years.

  • Capitol Hill is a dramatically different place to live than it was 10 years ago. Keeps getting nicer farther and farther from the Capitol. Good area to invest along the northern and eastern edges if you can afford to get in.

    • And remember, until about five years ago, there was fuck-all to do on the Hill at night. Now you’ve got Barracks Row, which is a bit Olde Towne Alexandria-esque, but the north eastern part of the Hill borders the H Street “Atlas District”. Seems like a new, unique joint is opening up every other week over there.

  • …most of the houses are unattractive on the northern and eastern edges…

    • Spoken like someone who never has been to those places.

      • Wrong. Evidently you haven’t shopped for affordable real estate there either. A lot of houses on the eastern edge make Baltimore’s popcorn box sized houses look spacious.

        • Affordable and size are in the eyes of the beholder…

          It also depends on what you call Eastern and Northern Edges….the edges of the historic district are much different than those the RE agents advocate.

  • I just love Capitol Hill, especially the SE side near Eastern Market and Lincoln Park. It’s seen a huge transformation over the past 10 years and is only getting better and better.

  • Is there an admission fee ? Expect the owners wear colonial costumes, wigs etc…at least the kitchen is in the main house….Sorry it’s a little creepy for my 1M taste

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