GDoN Revisited by hipchickindc – 3546 Rock Creek Church Rd NW Before and After

Original List Price: $449,900.
List Price at Contract: $325,900.
List Dates: 01/31/2009
Days on Market: 210
Settled Sales Price: $275,000
Settlement Date: 09/08/2009
Seller Subsidies: $300.
Bank Owned?: No
Type Of Financing: Cash

Original GDoN is: here.
The Listing can be seen: here. Make sure to check out the BEFORE pics by clicking through to the listing, then clicking the arrows on the main pic to scroll through.

The 2009 listing for this property does not indicate that this was a bank owned property. It’s possible that it had been a long time owner or part of an estate. Perhaps they were ambivalent about selling, as it took some time to get down to a realistic list price. The original Good Deal or Not (GDoN) post did not have any available pictures of the house, but see the link for the listing under BEFORE to see the starting place for the current renovation.

Second sale follows after the jump.

Original List Price: $580,000.
List Price at Contract: $580,000.
List Dates: 05/11/2010
Days on Market: 28
Settled Sales Price: $580,000
Settlement Date: 07/20/2010
Seller Subsidies: $17,400.
Bank Owned?: No
Type Of Financing: FHA
Original GDoN is: here.

The Listing can be seen: here. Check out the AFTER pics by clicking through to the listing, then clicking the arrows on the main pic to scroll through.

GDoN comments on the value of the renovation were generally positive. Proximity to Metro was particularly noted as an asset. On looking up comparable sales in this part of the neighborhood, I was surprised to find few recent renovated sales up to this price point. Given the continual expansion of commercial development coming up around the Petworth Metro and Columbia Heights, I expect this to be an area that over the next few years will see an increase in renovated homes and subsequent sales.

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.

9 Comment

  • The renovation looks like a good one – better than the average Home Depot flip job. The link to the comps for renovated sales wasn’t working, but the other sales similar to this price point that come to mind were 2 houses in the 700 block of Upshur St I recall that sold for around $575K. The key there was that the renovator used good-quality finishes for the lighting and kitchen/bathroom renovations which I think makes all the difference.

    I think even though the $580K price for this sale seems high (less given the subsidies), this is a good value because this house is only a 5 minute walk to the new developments along 11th St like Meridian Pint, Red Rocks and others and also an easy walk to the Columbia Heights metro (maybe 15 min tops). The proximity to new developments in both Columbia Heights and Petworth makes this area south of the Petworth metro a really great value. The prices tend to be lower because most buyers looking for a Columbia Heights address think of this as the outer edge of areas they would consider. Within a few years this property will seem much more in the middle of everything rather than at the edge as more and more amenities are available in Petworth.

  • A sucker’s born every minute?

    • Really? It’s quite a nice house, block and a half to the Metro, parking, lots of space, convenient to stores/bars/parks. Congratulations to the seller and the buyer. If it wasn’t a fair price then it wouldn’t have sold for the exact asking amount.

      • While I agree that this is a pretty fair deal, selling for the asking amount is no indication that it was a fair price. It’s fair in the sense that the buyer chose to pay that price but no indication of the actual value of the home.

        Which is really nice btw! I agree that area of Petworth will become less of the “edge” of a desirable area, and will transition into it’s own hub of interest.

  • Sorry, not sure what happened to the link above but here are comparable settled sales from that part of the neighborhood (west of Petworth Metro) of other renovated houses since last year.

  • very nicely renovated house right by the metro, walking distance to a bunch of new development, and a grand a month in rental income to help pay your mortgage. where else are you finding this in DC?

  • Do people think it was necessary for the developers to gut the interior? I was surprised to see both the interior transoms and wainscoting didn’t make it into the finished product. Same holds for the window sills and trim.

    Is this usual considering the developer probably had to update both the electrical and plumbing? I’m not sure what would prompt them to pull out the transoms though…

    Either way, it’s still an attractive place.

    • if you had seen the interior in its original state (which i did about a year ago), you would have not considered anything other than a gut. it actually looks better in the photos than when i saw it in person – it was configured as a rooming house and was pretty disastrous.

      i’m truly impressed with the renovation. the location is great, and the size of the house is nice. glad to see the shift in my neighborhood from an overcrowded, dangerous house to one that will accommodate an upper middle class family.

      hooray, gentrification!

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