Good Deal or Not Revisited by Hipchickindc – 1644 Irving St NW

Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, hipchickindc aka the not-so-hip Suzanne Des Marais is an Associate Broker with Urban Pace. 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: 1644 Irving St NW
Original List Price: $1,350,555.
List Price at Contract: $1,350,555.
List Date: 03/03/2010
Days on Market: 102
Settled Sales Price: $1,225,000.
Settlement Date: 07/29/2010
Seller Subsidy: $0.
Bank Owned?: No
Type Of Financing: FHA

Original GDoN is: here.

The Listing can be seen
: here. Make sure to check out the virtual tour here. Here is the virtual tour from 2007, which shows the space without furniture.

A former tenant of this property made this comment on the original Good Deal or Not (GDoN) post: “I remember the group being asked if anyone was interesting [sic] in buying the [sic] either the unit or the whole property (my recollection of these details is very fuzzy, I may have been on drugs at the time) for something like $250k. My first lesson in DC real estate.”

The property actually did sell for $285,000. less an $8550. seller credit back in 2000. Granted, quite a bit of work has been done to it, but even by DC real estate Boom standards, that’s an insane increase in value over the course of a decade. Perhaps even crazier is that the recent seller paid $1,100,000. in 2007. They had the benefit of living there, and may have made some improvements, then moved on with a profit after three years. That is not an easy feat post-2006.

5 Comment

  • dayum. That didn’t go for much under asking considering it sat on the market 102 days. I liked the place a lot but way out of my price range. Also very surprised at the 2000 sales price. I’m sure it was in bad shape at that point but were houses really THAT cheap in MTP in 2000?

    • “dayum”

      my thoughts exactly.

      The price in 2000 isn’t totally crazy though. Maybe a little low. Although Mt. P was really starting to take off then, that was not the most desirable part of the neighborhood at that point. Columbia Heights was still very, very rough and there was still some bad stuff going on on that block of Irving.

  • I lived 2 doors down for 2 years and saw folks working on this place constantly. I don’t know that it was occupied for much of that time, though. It’s absolutely beautiful and has a lovely yard, but given the values on the block in general, I am surprised that it sold for $1.3M. If I had the money, I’d pay $850K to $900K to live there, but not $1.3M. And a very, very similar home sold on Hobart (one block over) for $850 in the last 6 weeks. But its upgrades weren’t quite as nice.

  • Sickening to think about real estate values then and now and how much could have been made if only I’d had some money to invest. If only if only! We bought a 1 BR place in Adams Morgan for $65K in 1998 that would be worth $380K now at least…wish I had bought 4 of them. Ugh.
    But at least I have this muffin top from all the lattes and beer I bought instead.

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