Good Deal or Not? “Bring your pickiest clients” Edition

This home is located at 1930 11th St, NW:

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The flier says:

“REDUCED PRICE! Gorgeous home 1 block to metro, steps to U Street. Newly renovated with custom moldings, built-ins, and hardwoods throughout. Plantation shutters add to charm. Separate legal rental unit below. Master with huge walk-in closet and sitting room. Parking in rear for 2 cars with remote opener. Deck in back and garden in front. Bring your pickiest clients. Owner agent.”

You can find more info here and photos here.

I’ll be very curious to see what this ends up going for. Do you guys think it’ll be in the ballpark of $854,900?

24 Comment

  • Usually I’m a pessimist and find the houses on GDoN not great deals. This is an exception. Great location and only getting better. A block from the metro and right off the U St. corridor. The house looks to be in good shape and has a LEGAL rental unit (which must go for at least $1500 in that location. Off street parking to boot! I think this is priced very aggressively. If this goes for less than $850k I will be shocked. I’d be far less surprised if it was bid up over $900k.

  • I’m not as familiar with the U street cooridor, but that’s very depressing if what anon has to say is true. I can’t imagine this house is worth almost $900K. Does the rental offset enough of the cost to make it worthwhile?


    • If we assume they can get $1500/month in rent, that equates to approx. $250k of the mortgage. I actually would argue that rent in that neighborhood and that close to metro could easily get $1800/month assuming it isn’t super nasty. I think this is the reason most people view this house as really undervalued.

  • this seems low to me as well – but they just reduced the price, so apparently wasn’t able to move at a higher point.

  • i used to live on this block (so I may be biased, I’m still a raving U street fan) and I’m shocked anything here is listed at under $1M. A couple of houses right around there, with no parking, sold for well over $1M not that long ago. The place looks great!

  • I share the curiosity on why this is priced so cheaply. Has anyone been inside? Any hidden issues? Looks nice and with big pluses for that location (e.g., parking and rental unit). Looks like it could use some small updates (i.e., kitchen). But I’m amazed to see this priced under $900k. With ss appliances and other updates, this could easily have gone for more than $950k.

  • Well, if this is underpriced, I would suggest looking on NJ Ave … just a few more blocks east. Several houses are up for sale on that block and they all have private parking.

    • NJ Ave is one of the prettiest streets in DC, most houses have carriage houses….agreed it’s a great deal. I think that whole area/Truxton is the place to ut money right now. When HArris Teeter opens in Sept the comparitively cheap houses on the unit blocks of N, O, P, are going to go way up in value. Off topic I know, but I agree on your point though right now dont consider NJ Ave and 14/U to be the same markets at all

  • We are in an insanely fickle irrational market right now. I don’t think the price reduction is reflective of anything.

    • Amen. Don’t assume that a price reduction means it won’t go for more than asking. Someone will see this house for the value that it is.

  • There’s also the question of whether someone wealthy enough to afford this also still wants to be right on top of U St.

    If I was 25 and I could afford this, sure, but I couldn’t afford this at 25. Now, I like a little distance between the place I sleep and late night partying.

  • Good deal.

  • This house sold for 800K in 2005 (arguably the height of the market). I assume the current owners didn’t do any substantial work, as the kitchen still needs a renovation and the bathrooms are just okay. Are houses at 11th & U worth more today than they were in 2005? I personally don’t think so. I think this house will ultimately settle for about what the current owners paid in 2005.

    • Now that the development on U Street has moved east of 9th st, I would argue that 11th street is more valuable now than it was in 2005 when none of that development existed.

  • Shouldn’t the “a house is worth what someone will pay for it” rule apply here?

    If it were “under-priced” it would have sold already.

  • two economists were walking down the street. one says, “look, a twenty dollar bill just lying on the sidewalk.” the other walks past without looking down and says, “no there isn’t, if there had been, someone would have picked it up already.”

  • meh, I don’t see anything great about this place. Nothing terrible either, but it’s just meh. I definitely wouldn’t fall over myself to bid if I was looking (which I was not that long ago). Price is not unreasonable, but there’s nothing exciting about the place.

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