GDoN Revisited by Hipchickindc

In real life, hipchickindc is actually the not-so-hip Suzanne Des Marais, an associate broker with Urban Pace. Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, Suzanne is currently Chair of the DC Public Policy Committee for the Greater Capital Area Association of REALTORS® and is President Elect of the Washington, DC Association of REALTORS®. She lives (and sells a lot of houses) in Bloomingdale, but works all over DC, with everyone from first time buyers to highly regarded developers.

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: 38 Rhode Island Ave NE

Original List Price: $450,000.

List Price at Contract
: $450,000.

List Date: 04/15/2010

Days on Market: 5

Settled Sales Price: $495,000.

Settlement Date: 05/18/2010

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN is: here.

Listing is: here.

Despite being located on busy Rhode Island Avenue, this fully renovated Victorian with three levels above grade went under contract in less than a week. Listed about two weeks prior to the end of the Federal Home Buyer Tax Credit contract deadline, it sold for nearly $50,000. above list price. Granted, it is a lot of house for under $500,000., even with an unfinished basement and no off street parking.

Continues after the jump.

There was some debate as to what neighborhood this property is located in. Because it is on the north side of Rhode Island Ave in NE, it is not in Eckington, as some readers suggested. (Note of useless DC grid trivia: On the NW side, in this case, west of North Capitol Street, house numbers on the north side of the street are odd numbers, while on the NE side, houses on the north side change to even numbers.) Tax records do call this area Brookland, but long time residents of this part of the neighborhood will likely identify it as Edgewood, as was noted by one of the commenters.

The listing agent stated that the property is “within steps of Metro, dining, shopping & nightlife”. I live a few blocks away from this property in Bloomingdale, and while we are very optimistic about our burgeoning commercial district, I did have to stop and wonder if somebody forgot to clue me in on the nightlife. (We are once again hopeful about the firehouse project on North Cap.) Definitely steps to bus lines, and eventually to the future street car line, it is actually blocks to either the Rhode Island Ave or New York Ave Metro stations. Other nearby attractions include the Harry Thomas (Senior) Rec Center, which has an awesome swimming pool, and of course, Windows Café (corner of 1st and Rhode Island Ave NW) and Yoga District (on 1st NW just south of Rhode Island Ave NW).

8 Comment

  • This is a better long term investment than the H ST/Outer Capitol Hill area.

    • interesting.
      why do you say?
      i live near here myself, but think that h street has more upswing potential. i’d love to hear your reasons.

      • Much nicer housing stock and much lower prices for the nicer houses

        • definitely nicer houses, but are prices that different? I thought h street prices, especially on the east end were less expensive.

  • What a beautiful house. Thanks for the ‘useless’ grid trivia – my friend lives on the north side of the unit block of that street so that was handy trivia for me.

  • 28 and 58 RI NW are listed for $550K and $575K, respectively. Makes me wonder if this house was underpriced, or if the premium to go a block west is really that much.

  • The neighborhood is a little lost right now, but the housing stock is amazing and I can’t possibly imagine how that won’t be a great investment.

    Personally I wouldn’t really want to live right on Rhode Island Avenue there. But I always enjoy the view when driving by it. Lots of potential, and a lot of house and pretty good location for the money. Great deal.

Comments are closed.